L & S Financial ratings, reviews and complaints - Real Estate Investments

Complaints and Resolutions

Complaint Experience

N/A

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

Complainants allege they sign contracts, and pay the company deposits of several thousand dollars or more, to obtain mortgage loans, and have houses built. Clients complain the company fails to fullfill contractural obligations as agreed. After several months of waiting, no houses have been built. All complainants request refunds.

The company responds to some complaints by reminding complainants that they sign an agreement which stipulates that after three days, only half of the deposit amount is refundable. Allegations concerning the company's failure to provide services are not addressed. One complaint is unresolved because the customer found the company's response unacceptable. The complainant contends the company failed to provide services. Regardless of promises to continue working with the customer, the customer no longer wants to work with the company.

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Complaint Closing Statistics

0 complaints against L & S Financial closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
0	Agreed to make an adjustment
0	Refusing to make an adjustment
0	Refuse to adjust, relying on terms of agreement
0	Unanswered

Other Information

Company Info

This company's business is providing real estate investment services.

Primary Contact:
Business Started:	N/A
Social:

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Licensing

We know of no licensing or registration requirement for companies engaged in this company's stated type of business.

Government Actions

BCA has no information regarding government actions at this time.

Comments and Analysis

We urge caution! Complainants for this company report that funds paid towards deposits on new homes actually are for a development project called Emerald Bay Development. On September 17, 2004, we verified that this company's original phome number is disconnected, or no longer in service, with no new listing. An alternate number on file is answered by a voice mail system only. Prior to using the services of a mortgage broker or lender, make sure they are properly licensed with the California Department of Corporations (DOC), and/or the California Department of Real Estate (DRE). As of our last verification on September 17, 2004 we could find no record of licensing on file with either the DOC or DRE. For the most up to date licensing information, call the DOC by phone at (213) 576-6201, or visit their website at www.corp.ca.gov. The DRE can be contacted by phone at (213) 620-2072, or their website address is www.dre.ca.gov.

Other Considerations

Mail sent to this company was returned by the post office as "moved; left no forward address," "forward order has expired," or "unable to locate." We cannot trace addresses of companies or principals. General information is available upon request which may assist you.

Industry Resources

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Additional Info

DBAs:

Emerald Bay Development

Websites:
There are no additional web sites.

Contacts:
There are no additional contacts.

Reputation Report

L & S Financial

Complaints and Resolutions

Other Information