Complaint Category: Failure to honor money-back guarantees
Complaint: When I accepted the company's services on 1/6/2014, I was guaranteed $3000.00 savings on my credit card loans or the company would refund my payment.
During the cold call that I received from Financial Savings Solutions' services on 1/6/2014, I was guaranteed $3000.00 savings or the company would refund my payment of $1697.00. The context of the conversation was about how much credit card debt I had, the interest rates charged, accounts numbers and all of the information they needed to access those accounts (e.g., expiration dates, security codes). I was told that the $1697.00 that I paid them was like the points banks charge on mortgages. I was left with the understanding that they would assist me with negotiating lower interest rates on what I owed the credit card companies or assist me with obtaining lower interest rate loans from other lenders. Most of my credit card debt is at about a 25% interest rate so I thought that a knowledgeable professional probably could obtain a loan at a lower interest rate for me. The phone contact number that I was given was X-XXX-XXX-XXXX. Initially, their representatives had trouble contacting me because they were using no name, no phone number accounts to call me and I have my set up to automatically reject those calls. After I changed my phone's settings, ****** ****** called me and told me that he was going to give my contact information to auto insurance companies so I could lower my auto insurance rates. I told him not to do so and he informed me that he would be doing so over my objections because it was part of the company's procedures. He did not allow me to explain that I did not want to do that because I had researched those options in August 2013 and found lower cost auto insurance.
On January 28, 2014 my financial advisor, ****** (no last name has been provided), had unsuccessfully attempted to convince the credit card companies to lower their interest rates on my three cards with outstanding debt and to obtain an interest-free loans to cover my debt. After these attempts were not successful, she proposed that I falsely state that I had financial emergency that would make it impossible for me to meet my payments on my Chase VISA account so that I could obtain an interest-free payback plan from Chase. In addition, I was not to pay my bill in February and that we would call Chase a week after I had missed that payment. She stated that she has recommended this many times over several years to clients and has not heard of anyone having any difficulty with this. At this time, I am healthy, so I could not claim that I was having a medical emergency although I do have about $5000 in dental bills. At that time, she stated that my dental bills would not be sufficient to obtain the financial hardship approved, so she proposed that I falsely state that my job had been reduced from full time to half time. I questioned this and she stated that the credit card companies do not have time to verify this information so I would not have a problem.
It is illegal to provide false information on a credit application. In addition, the representative did not give her full names, provide any contact information (e.g., a direct phone number or email address), and called from phones without any number that shows on my caller ID. I expect that this would make it impossible to hold her accountable for advising clients to provide false information on credit applications. I was never sent any written information about the services or the warranty provided by this company. I have not received any savings so on March 16, 2014, I sent a letter certified mail, return receipt requested to the company requesting that they mail me a refund check within 10 business days. The receipt was signed on 3/20/2014 by ***** ****** On 4/2/2014, after I returned their quality insurance call, ****** called me from XXXXXXXXX and tried to convince me that she had not advised me to state that my employment had been reduced to half-time and that my dental bills were what she was going to use for the financial hardship.
Initial Business Response
This Client was refunded on 4/3/2014 on the day she requested. She began working with adviser, and it looks like she had emergency and missed some calls out to her. She called in upset and let us know that the income listed was wrong, we could have fixed it for her, but she did not want to continue with the service, (declined other options we had available). We did let her know she was being refunded that day and per the notes she told us she would still be filing a complaint. Not sure if this was because we wouldn't send a check, but we can only refund to where we charged. It should already show on her bill as refunded. If she would like any details or something showing the refund please call us at X-XXX-XXX-XXXX, looks like she already has the number, Thanks so much have a good day.
They have not refunded my money and have said that it is their word against mine that their representative asked me to falsely report my employment status. I asked them to send me written information about their company-they have not. I am filing a complaint against them with my state attorney general.
This client was refunded on 4/4/2014 @ 5:59pm EST. If she would like a receipt emailed, she may call customer service and provide us her email address. We have plenty of documentation of her refund, including her credit card company having record of it. Here is a copy of the receipt, have a good night.
Merchant: AUTO GUARDIAN USA - (ORLANDO, FL)
Date/Time: 04/04/2014 5:59:22 PM EDT
Transaction ID: XXXXXXXXXX
Transaction Type: Card Settle
Credit Card Information
CC Type: American Express
CC Number: *************** Show all transactions with this Credit Card Number
CC Expiration: *****
Processor: Global Direct
Type Status Transaction Time Amount
Card Refund Success 04/04/2014 5:59:22 PM EDT *********
SUCCESS Virtual Terminal
Complaint Resolution: Company addressed the complaint issues. The consumer failed to acknowledge acceptance to BBB.