This business is not BBB accredited.Additional Locations
Phone: (412) 322-3151 632 East Ohio Street, Pittsburgh, PA 15212 View Additional Web Addresses
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This business is not BBB accredited.
Reason for Rating
BBB rating is based on 13 factors. Get the details about the factors considered.
Factors that lowered the rating for Grace Period, Inc. include:
- 28 complaint(s) filed against business
- Failure to respond to 11 complaint(s) filed against business
- 3 complaint(s) filed against business that were not resolved
- Failure to have a required competency license
- Government action(s) against the business
- Advertising issues found by BBB
Factors that raised the rating for Grace Period, Inc. include:
- Length of time business has been operating
Customer Complaints Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||16|
|Total Closed Complaints||28|
Additional Complaint Information
On March 4, 2015 Pennsylvania Department of Banking & Securities ordered Grace Period, Inc.; Dime-a-Day Solutions; Graced Lending, LLC; and Ventures in Grace, Inc. to cease and desist from engaging in the consumer discount business and provide refunds to consumers for violations of the Consumer Discount Company Act and the Loan Interest Protection Law. The consent agreement requires the respondents to use available resources as soon as possible, but in no event greater than 90 days from the date of the agreement and to the extent resources permit, remit to clients with open and active accounts, the balance of those dollars given to respondents by the consumers.
According to the company's website as of April 29, 2015 it states, in part:
We are pleased to inform our active membership that collections are progressing and we anticipate, at a minimum, the full reimbursement of “savings” transfers. Disbursement will follow the below schedule:
Preliminary Fund Disbursement Schedule
Round 1 March 25, 2015
Round 2 April 15, 2015
Round 3 May 1, 2015
Round 4 June 1, 2015
Round 5 To be determinedThe company has been unresponsive to BBB complaints since December 2014. Consumers may want to file their complaint with the Pennsylvania Department of Banking & Securities by their online complaint form or calling 717.787.1854.
BBB files indicate that this business has a pattern of complaints with consumers alleging they received a short term loan from Grace Period and the company has not provided them with a statement of fees, charges, dues, and interest applied to their loan balance and account. They requested an itemized statement of activity on their account to understand where and how payments/dues were applied, and Grace Period did not respond to their request.
Customer Reviews Summary Read customer reviews
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||1|
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:
Pennsylvania Department of Banking and Securities
17 N Second Street, Suite 1300, Harrisburg PA 17101
Phone Number: 800-722-2657
Fax Number: 717-787-8773
On 4/29/2015 BBB confirmed that Grace Period, Inc. had not obtained a necessary license from Pennsylvania Department of Banking and Securities.
Type of Entity
Business ManagementMr. Daniel Krebs, CEO Mr. Anthony Wiles, President