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Phone: (701) 205-0327 118 Broadway N STE 613, Fargo, ND 58102 View Additional Email Addresses
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Reason for Rating
BBB rating is based on 13 factors. Get the details about the factors considered.
Factors that lowered the rating for Crestmont Funding include:
- Length of time business has been operating
Factors that raised the rating for Crestmont Funding include:
- Complaint volume filed with BBB for business of this size
- Response to 7 complaint(s) filed against business
- Resolution of complaint(s) filed against business
Customer Complaints Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||2|
|Total Closed Complaints||7|
Customer Reviews Summary Read customer reviews
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||2|
Licensing, Bonding or Registration
This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
These agencies may include:
Minnesota Secretary of State
180 State Office Bldg, 100 Rev. Dr. Martin Luther King Jr. Blvd., Saint Paul MN 55155
Phone Number: (651) 296-2803
Type of Entity
Business ManagementAmy Hentgen, Administrative Specialist Clarence O'Berry, President
Marketing Consultants Marketing Programs & Services Marketing Software Financial Planning Consultants Credit - Debt Consolidation Services Financing Consultants
Products & Services
According to the information provided by Crestmont Funding, this company offers financial consulting and marketing services.
Industry TipsCREDIT REPAIR Fair Credit Billing Act Financial Planning What are Fair Debt Collection Practices?
Customer Review Rating plus BBB Rating Summary
BBB Customer Review Rating plus BBB Rating Overview
THIS LOCATION IS NOT BBB ACCREDITED
118 Broadway N STE 613
Fargo, ND 58102 Directions
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Complaint Trends - Last 3 Years
Customer Review Trends
BBB Customer Review Rating plus BBB Rating Overview
BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.
|Customer Review Experience||Value|
|Positive Review||5 points per review|
|Neutral Review||3 points per review|
|Negative Review||1 point per review|
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Read Complaint Details
Complaint: Double Bait and Switch Scam - Crestmont Funding and Timberline Financial - Debt Consolidation Loan pre-approval switched for Debt Resolution Program I was provided a Pre-Approval Debt Consolidation Loan ($90,500) letter from Crestmont Funding. Upon calling the provided phone # and submitting my reservation # per the letter, I was seamlessly passed off to a separate second company without making me explicitly aware that this was occurring - Timberline Financial (1st Bait and Switch - "the Company Switch"). This separation apparent to me after the fact once the damage had already been done to my credit score due to the credit pull that I was tricked into agreeing to. Collusion is proven by the fact that the second company Timberline uses and recognizes the same phone # and personal reservation # from Crestmont. So even if they are legally separate, they are effectively acting as one. When speaking to Timberline, they affirmed that I was pre-approved for the Debt Consolidation Loan. Timberline proceeded to collect extensive personal financial information from me to process the loan. On multiple occasions, I was promised that this was in fact a Debt Consolidation Loan and NOT a Debt Resolution Program. Given this promise, I agreed for Timberline to use my SSN to run my credit report. Within a week, I spoke again with Timberline who informed me that I would not qualify for the Debt Consolidation Loan but that I could instead proceed with a Debt Resolution Program (2nd Bait and Switch - "the Product Switch"). This is despite my firm initial insistence that I would not be interested in resolution programs and that this would indeed be a loan. I expressed my displeasure that I had been duped into having my credit ran (which ultimately degrades my credit score) only for the denial of a loan program that I was given pre-approval for. After the fact, I was given the absurd explanation that "pre-approval does not really mean pre-approval". The rep that I spoke with from Timberline throughout the process was named Paula and after I expressed my discontent for suckering me into the debt resolution program, she proceeded to try to sell the program to me. I expressed my moral inclinations to give my best effort pay back my creditors rather than settle with them at a reduced payback (obviously, a consolidation loan would allow me to pay back my creditors in full but a resolution program only pays back a portion of the debt to my creditors). I also explained that I was not interested in a resolution program that would substantially damage my credit score. Despite my moral and credit score objections, Paula tried to convince me that my moral concerns were not valid and that my credit score did not matter in the long run. The absurdities of her arguments were incredibly insulting as she tried to prey on me to commit to a program that I did not want to participate in from the very beginning. The Double Bait and Switch scam between Crestmont and Timberline makes it possible for Crestmont to offer a letter with loan pre-approval that is then not honored by Timberline - who ultimately tries to switch me into a resolution program that I insisted from the very beginning that I was not interested in. The damage has been done because now I have an additional credit pull harming my score. This is a double Bait and Switch scam involving two companies working together to prey on the consumer that may not realize that they are not pre-approved from the second company that may be separate from the first company although they both share the same phone # and personal reservation # (clear evidence of collusion to scam the consumer). I'm very angry that I was preyed upon and I want other unaware consumers to be aware that this can happen to them. I admit that I was fooled and suckered into this scam and I will certainly be more aware in the future for it. I can't deny that it is possible that there may be nothing illegal about what occurred. However, everything that I have stated are facts that, if do not indicate a breach legal standards, certainly indicate a lack of moral standards.
Desired Settlement: I am a reasonable and honest person. I only ask that I not be tricked into situations that can harm my wellbeing. I am open to suggestions for a resolution.
Business Response: Initial Business Response /* (1000, 5, 2015/07/17) */ Mr. *****, This letter is in response to your July 12, 2015 complaint submitted to the Better Business Bureau in regard to Crestmont Funding. It is our intent that this correspondence will address your concerns. Let me begin by offering our apology for any inconvenience this matter has caused you and for any confusion or misunderstanding that occurred. The marketing mailer that you reference in your letter includes statements that the pre-approved offer is contingent on the applicant meeting certain criteria. Our loan qualification criterion is designed to avoid securing a loan for an individual when it is not in their best financial interest to do so. Unfortunately, based on the information provided, you did not qualify for a debt consolidation loan. As an alternative, you were offered a debt management plan by one of our partners, which you found unacceptable and declined. Regretfully, since we were unable to facilitate the delivery to you of a loan or an acceptable debt management plan, we will remove you from our mailing list. That action will ensure that we do not inconvenience you in the future. Thank you for sharing your concerns with our company's operating processes and we wish you well in the future. Initial Consumer Rebuttal /* (3000, 7, 2015/07/18) */ (The consumer indicated he/she DID NOT accept the response from the business.) I do not accept your response. It is obvious that your ploy is to deceive the consumer into believing that they have qualified for debt consolidation loan. This turns out to be false and the consumer is left with only a damaged credit score as your misdirection led the consumer to agree to a hard credit pull. As I mentioned before, even if you have found a loophole that does not make this practice illegal, this practice clearly demonstrates a lack of ethical and moral standards. As I am quite confident that your method lacks business ethics, I have attached a scanned copy of the original letter that I received - indicating my qualification for the debt consolidation loan. If you won't admit that your practices are unethical, then I am willing to post this scan of the letter and let others judge accordingly for themselves. Decide what they may. My hope is that other consumers do not fall victim to your scam. Final Business Response /* (4000, 9, 2015/07/22) */ Mr. *****, Again, we apologize that you were displeased with the ultimate outcome of not qualifying for a loan. In our previous response, we addressed your concerns as well as confirmed that you have been removed from any future offers and/or mailers.
Read Complaint Details
Complaint: Received a pre approved Consolidation loan of $45,000.00 in the mail. Received a pre approved consolidation loan of $45,000.00 in the mail. Contacted the representative and he was very kind and assist me very professionally. This until I had to present all my personal info including social security number. Then everything stopped and I have not heard from them at all. I would like them to erase all my personal info from their data base and not contact me at all
Desired Settlement: Erase all my personal detail from their database and not contact me at all. Also do not use it in any manner at all
Business Response: Initial Business Response /* (1000, 5, 2015/07/08) */ Crestmont Funding will destroy Mr. *******'s information immediately and we will remove him from any future contact. Furthermore, Crestmont Funding financial mailers will not be sent to Mr. ******* ******* and his information will be removed from our mailing list.
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Complaint: Received pre-approval for 45,500 debt consolidation loan 3.75% interest. Called and told no loan available but we pushed hard for credit modification. I received a pre-approval for 45,500 debt consolidation loan 3.75% interest. I called and was told a loan specialist would call me in 3 business days but nobody would run my credit report until I spoke to a specialist **********(spelling unknown). I received a call back the same day He then asked for my SSN and birthday. I was uncomfortable giving him that info, but told him I would call him back after a little research. I then called him back the next day he was supposed to run some numbers and I was very up front with him that I was only interested in the loan @ 3.75% and did not want to hear about any other services. He said he would call back and we agreed on a 2:30 call, and he was 50 minutes late calling at 3:20. I was advised that they could not find a lender but that he could do a credit card modification program which I had told him on the first phone call I was not interested in. He then began his sales pitch of what will I do nobody will give me any credit and I will not be able to pay off the debt I owe. I asked why they sent me a mailer that said "congratulations...You have been pre-approved for a $45,500 Debt Consolidation Loan. Call us at **************" the man on the telephone said that I was crazy to think that they would just send me a letter that offered me the money and that it was available to me. I told him again I was not interested in credit card modification services. He continued his scare tactic to tell me that I would die in debt because he was the only one who would help me. I said I am done remove me from your list I do not want to do business with you anymore. Then today he called back and continued to berate and belittle me telling me how I have no other choice and his credit card modification program is the only option. This was a bait and switch and fraud. They never had a pre-approved debt consolidation loan and this should be considered consumer fraud under Ohio law. I will be sending a copy of the letter and this complaint to the Ohio Attorney General's office.
Desired Settlement: 1st I would like the 3.75% interest rate $45,500.00 loan and then I would like them to modify the flyer to make sure that people understand they don't have a pre-approved loan available but they may be able to get them one if that is most profitable to Crestmont funding.
Business Response: Initial Business Response /* (1000, 5, 2015/05/22) */ May 22, 2015 Dear *************, This letter is in response to the complaint you submitted to the Better Business Bureau in regard to Crestmont Funding. It is our intent that this correspondence will address your concerns. It is our understanding that you responded to a mailer. The marketing mailer includes statements that the offer is contingent on the applicant meeting certain criteria. Unfortunately, based on the information provided, you did not qualify for a debt consolidation loan. As an alternative, you were offered a debt management plan by one of our partners, which you found unacceptable. Crestmont Funding's core business is helping to provide loans to people who need them. Thus, it is always disappointing when we are unable to do that. However, our loan qualification criterion is designed to avoid securing a loan for an individual when it is not in their best financial interest to do so. We also apologize that you felt the service you received from the consultant of our partner was unsatisfactory. We are in touch with our partner about this and are having that consultant retrained. We regret any inconvenience this matter has caused you. As requested, we will remove your information from our and our partner's databases immediately. We hope this resolves your concerns. Initial Consumer Rebuttal /* (3000, 7, 2015/05/27) */ (The consumer indicated he/she DID NOT accept the response from the business.) The mailer that is sent is very misleading. You very clearly state that I was "pre-approved for a debt consolidation loan" it does not say "may be approved for a loan." I guess this just goes to prove the old saying that if it sounds too good to be true it probably is.
Problems with Product/Service
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Complaint: The company calls multiple times per day until the get your SSN and other info then they don't return calls. No company name in messages. I received at least two phone calls per day for approximately two weeks. When I finally spoke to representative he took all of my info and said he would call back within an hour. I didn't hear anything back from him until the following day after I left a nasty voicemail. When the representative called me back he left a voice mail that he would call later knowing I was at work. He never called back and I have attempted to call him back numerous times without any response. I haven't physically talked to anyone since 2/11/15. Also when you try to call back there isn't a company name on the representatives voicemail or when u go through the main system.
Desired Settlement: If my identity has been stolen I would want assistance with this.
Business Response: Initial Business Response /* (1000, 5, 2015/03/10) */ On, March 9th, one of our partner financial consultants spoke with Mrs. ******** regarding her file and apologized that they had been unable to connect with her since their initial conversations in mid-February. Based on their discussions, Mrs. ******** is proceeding in a program with that partner. Accordingly, this complaint has been resolved positively.
Problems with Product/Service
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Complaint: Agent attacked me over the phone Upon receiving a letter in the mail about debt consolidation I reviewed this company on BBB and viewed their website. Thinking it may be an option I did the request information on their site. I received 4 phone calls the first day while I was at work. After coming home I got another call and stated that it was late and it was not a good time to talk. I told the agent that I would call them back when I could. The next day I received 3 more calls. When I answered the agent refused to let me speak, speaking over me and I explained there was bad weather and I had to work and was not sure when I could talk but that I would be in touch. The agent was very nasty at that point raising his voice and again not letting me speak and proceeded to tell me that I was a waste of time. This behavior is not acceptable and the manor of this agents aggression highly concerns me as my information is in their system. This company has no business providing any customer service and I want my information removed immediately from their system with conformation of this completed.
Desired Settlement: Conformation of acknowledgment and removal from the system
Business Response: Initial Business Response /* (1000, 5, 2015/03/06) */ Mrs. ****, first and foremost, we would like to apologize for the service you received from this particular agent. It is completely unacceptable and definitely not the service we strive to provide to our clients. That agent was newer and has been removed from the phones for retraining and will not be allowed to speak with clients again until we are confident he is trained appropriately. We would love the opportunity for you to give us another chance. We would like to give your file to our Senior Manager to personally handle your account. That Senior Manager actually called you today, 3/6/14 around noon EST but you were unavailable. He left you a message. You can return his call or you can call us at ************ at a convenient time for you and we will put you through to this Senior Manager. If you are still not interested in working with us, please call ************ or email email@example.com and we will immediately delete all of your information from our system. Thanks for your understanding and we hope you will give us a second chance.
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Complaint: From: *********** <***********@computype.com> Sent: Thursday, February 19, 2015 9:37 AM To: BBB Ask Cc: ********** Subject: Crestmont Funding, New Town ND Dear Better Business Bureau, I received the attached in the US mail about a low interest loan from Crestmont Funding. When I called the 800 number I was put in touch with ***************, Financial Consultant. After taking some personal and financial information including my social security number, Mr. ********* told me because of my credit history he can offer me a 0% interest credit card modification loan of $40,000.00. He explained a program where $777.00 would be taken from my checking account every month and saved for four years at which time all my creditors would be paid and I would be debt free. I was to ignore, and not pay my creditors and forward all bills and phone calls to them. This is not a lone. This is using my own money to pay off my own debt, which is what I am currently doing! In the mailing I was PREQUALIFIED for a $45000.00 loan at 3.75% for a payment of $191 a month. It says "act now and in a few weeks you will receive a check just like this one in the mail". I did some double checking and Crestmont Funding cannot be found on the Secretary of State website. It is listed on the BBB website but the address is and empty field in New town ND. The phone number on the BBB website is ************, this is a Michigan area code. No one has ever answered the phone when I called, and calls are forwarded to a generic mailbox with no identification. This credit card modification company is using "Cresmont Funding" as a false store front, a bait and switch. I would like them to take the BBB logo off their mailing and state on the mailing what it really is, a credit card modification program which carries a lot of risks. Also please destroy all personal information that they took from me when I was assuming I was being considered for a $45,000.00 low interest loan. Thank you, *********** ******************* Eagan, MN 55122 ************ *******@centurylink.net
Desired Settlement: please destroy all personal information that they took from me when I was assuming I was being considered for a $45,000.00 low interest loan.
Business Response: Initial Business Response /* (1000, 7, 2015/03/02) */ February 25, 2015 Dear **** ******, This letter is in response to the complaint you submitted to the Better Business Bureau in regard to Crestmont Funding. It is our intent that this correspondence will address your concerns. It is our understanding that you responded to a mailer and spoke with one of our agents. The marketing mailer includes statements that the offer is contingent on the applicant meeting certain criteria. Unfortunately, based on the information provided, you did not qualify for a debt consolidation loan. As an alternative, you were offered a debt management plan by one of our partners, which you found unacceptable. Crestmont Funding complies with all applicable laws and regulations and we meticulously safeguard any information that is given /provided to us by consumers when calling in to one of our numerous call centers in several states. Crestmont Funding is registered with the North Dakota Secretary of State and maintains offices in that State. The phone number you referenced in your complaint is an answering service maintained by Crestmont Funding to ensure 24/7 availability. All messages left with the service are referred to Crestmont staff. Crestmont Funding's core business is helping to provide loans to people who need them. Thus, it is always disappointing when we are unable to do that. However, our loan qualification criterion is designed to avoid securing a loan for an individual when it is not in their best financial interest to do so. We regret any inconvenience this matter has caused you. Initial Consumer Rebuttal /* (3000, 9, 2015/03/02) */ (The consumer indicated he/she DID NOT accept the response from the business.) First, According to the Minnesota's Commerce Department,Crestmont Funding is not licensed to provide debt settlement services in Minnesota, so you are doing this illegally and not complying with ALL applicable laws and regulations as you claim. Second, I object to how my personal information was obtained. You may have purchased it from a credit bureau, but the credit bureau did not have my permission to sell my data. Third, Crestmont Funding never addressed what they have done with my personal information that they obtained from me. I asked that it be deleted and or destroyed. Take me off the mailing list so I don't receive further mailings. Final Business Response /* (4000, 11, 2015/03/05) */ Mr ******, On March 2, 2015, we received your comments to our reply to your earlier concerns as submitted to the BBB. Please find below the actions we have taken in response to your comments. This will confirm that all of your personal information has been removed from our files and was not made available to any other person or company. Your name has also been removed from our mailing list and you will not receive any further literature from us. Sincerely
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Complaint: Received pre-approval for 85,500 debt consolidation loan 3.75% interest. Called and told no loan available but we could offer other credit services. I received a pre-approval for 85,500 debt consolidation loan 3.75% interest. I called the next day and was told a loan specialist would call me in 3 business days but nobody would run my credit report until I spoke to a specialist. After 3 weeks no loan officer called so I called back on 12-29-14. I was advised that they could not find a lender but if I wanted to be referred to credit servics that can assist in lowering credit card payments they could do that but no debt consolidation loan was available. Whe I asked why they sent me a mailer that said "congratualtions...You have been pre-approved for a $85,500 Debt Consolidation Loan. Call us at **************" the man on the telephone had no answer. I told him I was not interested in credit services that tell you to stop making payments in order to negotiate a lower interest rate. This was a bait and switch and fraud. They never had a pre-approved debt consolidation loan and this could be considered consumer fraud under the NJ Consumer Fraud Act.
Desired Settlement: I would like a debt consolidation loan at 3.75% as they advertised I was pre-approved for.
Business Response: Initial Business Response /* (1000, 6, 2015/01/15) */ January 14, 2015 Dear ***************, This letter is in response to the complaint you submitted to the Better Business Bureau on January 5, 2015 in regard to Crestmont Funding. It is our intent that this correspondence will answer your questions. It is our understanding that on December 4, 2014 you responded to a mailer and spoke with one of our agents. The marketing mailer includes statements that the offer is contingent on the applicant meeting certain criteria. While the initial information you provided does meet the minimum loan criteria, unfortunately, we have been unable to place your loan at this time. We will maintain your file in an active status and continue to pursue our efforts to provide you a loan. Crestmont Funding's core business is helping to provide loans to people who need them and we have a solid record of being able to help provide loans to applicants who we have pre-approved. Thus, it is always disappointing when we are unable to do that. Crestmont Funding complies with all applicable laws and regulations and we meticulously safeguard any information that is given /provided to us by consumers when calling in to one of our numerous call centers in several states.
Customer Reviews Summary