BBB Business Review

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This business is not BBB accredited.

Grace Period, Inc.

Additional Locations

Phone: (412) 322-3151 632 East Ohio Street, Pittsburgh, PA 15212 http://www.graceperiod.org View Additional Web Addresses


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BBB Accreditation

This business is not BBB accredited.

Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.


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

28 complaints closed with BBB in last 3 years | 3 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 11
Delivery Issues 1
Guarantee/Warranty Issues 0
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 determined

The 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

1 Customer Review on Grace Period, Inc.
Customer Experience Total Customer Reviews
Positive Experience 1
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 1

Additional Information

BBB file opened: January 11, 2011 Business started: 10/01/2007 in PA Business started locally: 10/01/2007 Business incorporated 05/11/2007 in PA
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
http://www.dobs.pa.gov
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

Charity/NonProfit

Business Management
Mr. Daniel Krebs, CEO Mr. Anthony Wiles, President
Contact Information
Principal: Mr. Daniel Krebs, CEO
Principal: Mr. Anthony Wiles, President
Business Category

PAYDAY LOANS

Alternate Business Names
Borrow4free.org Dime-A-Day Solutions Grace Lending LLC Ventures in Grace, Inc.
Industry Tips
Payday Loans
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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

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.