Information and Alerts

Pattern of Complaints

According to information in BBB files Sequium Asset Solutions, LLC
has a pattern of complaints alleging Billing or Collection Issues. 

Specifically,
consumers are stating Sequium Asset Solutions, LLC contacts them about accounts
in their name that they have no knowledge of. Other consumers stated fraudulent
information has been reported on their credit report. While numerous consumers
complained of incorrect charges being billed and poor customer service. 

On
May 12, 2023, BBB sent correspondence to Sequium Asset Solutions, LLC to
request their cooperation in eliminating the pattern of complaint.

On
May 26, 2023, Sequium Asset Solutions responded with the following as a means
to eliminate the pattern of complaint:

"Thank you for bringing the
pattern of complaint regarding billing or collection issues involving Sequium
Asset Solutions, LLC (“Sequium”) to our attention. We appreciate your efforts
in assisting us to address these concerns and ultimately improve customer
satisfaction.

Sequium is a debt collector subject to the Fair Debt Collection Practices Act
(“FDCPA”), Fair Credit Reporting Act (“FCRA”), along with statutory laws which
regulate the practice of debt collection. It is Sequium’s practice to ensure
that the debt placed in their office for collection efforts is accurate and
owing by those subject to their compliant collection efforts.  

After conducting a thorough review of our BBB consumer complaints over the past
12 months, we have identified approximately 200 complaints out of our 1,781,397
active accounts. This represents less than 1% of our total active inventory.
Upon closer examination, we have found that the majority of these complaints
are related to consumers discovering the collection reported on their credit
reports. It is important to note that clients for whom we do not report to
credit bureaus experience minimal to no complaints.

Within the collections industry, it is not uncommon to encounter similar
disputes and complaints as those you have identified from consumers. As
required by the FDCPA, upon notice of a dispute of any kind, Sequium ceases all
collection efforts and properly updates the consumer’s credit report to reflect
the dispute. In addition, Sequium diligently provides the consumer with
validation of their debt via copies of their statements, contracts, judgment
copies and any other relevant information which supports both the existence of
the debt and that the debt was incurred by the consumer. 

It is not Sequium’s practice to knowingly attempt to collect upon any debt
which may have been fraudulently incurred. In these cases, upon notice, Sequium
ceases all collection activity, properly updates the credit reporting
tradeline, and escalates such disputes to their client. Where required, Sequium
may also provide the consumer with a fraud packet for completion which includes
questions which may assist the client to investigate the matter. 

Sequium takes these matters seriously and will continue to address these
matters timely and with great care and diligence. We appreciate the opportunity
to address these concerns and pledge our commitment to resolving the pattern of
complaint. Sequium remains dedicated to improving our practices and maintaining
customer satisfaction. Should you require any additional information or updates
on our progress, please do not hesitate to reach out.

Thank you for your cooperation and support."

This
aspect of the Business Profile will be updated once additional information
becomes available.