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ASB Capital Group and Allen Brodetsky Stand Up and Address a Readers Concerns

I received the following email from Brad who wanted to share his story with you about his experience with ASB Capital Group in Tarzana, California. If you have a tip you’d like to share, email it to [email protected].

In researching the company briefly online I found the following video which includes Allen Brodetsky in it.

ASB Capital Group gives an interview for Telemundo reporter Roberto Lacayo on questions consumers should ask to avoid loan modification scams. Here, Allen Brodetsky tells Mr. Lacayo that consumers should always inquire with a broker as to whether or not they have received permission from the Department of Real Estate to do Loan Modifcations for an advance fee. This interview is part of a greater effort that Mr. Brodetsky has made to make consumers more aware of scams popping up during this time of economic hardship. – Source

Message from Brad:

ASB Capital group, led by Allen Brodetsky, heard advertisement on am 830. Said they could get your loan re-modified or you get your money back. Called them and worked with them over 6 months..to end in failure. They did almost nothing.

We had to repeatedly call them for info, and they kept assigning our case to new people, cause the other employees no longer worked there. And we had to start all over again with each new case worker.

We had to call our mortgage company for updates. We had to resubmit all paper work several times. we were told to fax them ourselves to the mortgage company. This ASB capital group was worthless…and now they refuse to refund our money. They said we have nothing in writing stating we will get a refund. Allen has issued refunds personally that he signed off on. If we could locate written proof..then he would refund the money. It is a big scam.

We did more work then they did. We are now redoing the loan modification ourselves, and feel very ripped off by ASB Capital group. I do not know how to obtain a copy of the spot they aired on am 830. Their first contact on our case, Miriam, even verbally told us over the phone that the would refund us if we didn’t get the modification. She kept promising to fax me it in writing then all of a sudden she no longer worked for the company…

18344 Oxnard Street #210
Tarzana, CA 91367
Tel: (818) 312-0831
Fax: (818) 881-8835

Contact: Allen Brodetsky – Owner
Business Start Date: 4/7/2008
Company ID: 100066150

If this tip is about your company or you would like to add to this tip, please feel free to post your response in the comments section below.

ASB Capital Group and Allen Brodetsky Stand Up and Address a Readers Concerns by

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Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Jeff

    In reading your post on the Internet as titled above, I too had a bad experience after hearing a Radio Spot by ASB Capital. I called and left my return call information, and was also called by Mariam. This was late June and carried into July while I faxed documents to Mariam and have several conversations with her over the telephone, and several text messages back and forth. She was working on a Loan Modification on my 1st Lien, and then was going to work on my 2nd Lien. Over time, she either had me mail her checks for the process, or sent a “Co-Worker” to pick them up. I paid $9,265 between 7/31/2010 & 3/31/2010. This was supposed to cover the Loan Mod fee for my 1st Lien and settle what I owed with my 2nd Lien.

    In talking to my 2nd Lien holder, they advised they had no record of talking to Mariam or anyone from ASB Capital and no agreement was in place. Mariam had advised they would accept $4,600 and consider my loan with them taken care of due to my hardship situation.

    In searching the Internet for a valid telephone number for ASB Capital, I found the information you posted about this company, and Mariam. I called Allen Brodetsky, who advised he fired Mariam in September 2009. Strange part is she took money from me well before she was fired, and she is the person who first returned my call when I left a message after calling ASB Capital after hearing the Radio Spot. She took my first payment on 7/31/2009, well before she was fired.

    To date my Loan Modification with my 1st Lien Holder is not completed, and my 2nd Lien Holder has yet to be contacted.

    Any advise on how to proceed?

    • Brenda

      We never did get our money back from ASB Capital, he invited us to the office to tell us basically he wasn’t going to return the money. We have no desire to waste our time in his office so he can save face here on this site, with no intentions of being honorable and refunding the money as promised by his employee. If he had intentions to keep ASB’S Promises..he would simple had returned the money…Good luck to you and sorry to hear that you were also taken in by Miriam and this company.

  • http://Website Brenda Daniels

    one more note, You had more then one commercial that aired. And the only thing to me that would be acceptable proof, is to obtain proof that is was from the station we listened to and in the correct month. Things can be easily manipulated, like the proof of phone calls you sent us, we dealt with over 3 reps from your company,over 6 months… but the handwriting is all the same on all of them ….?? spanning only through Dec. to now.

  • http://Website Brenda Daniels

    Thank you for responding, I mistyped when I put lawyer, knowing you are not one, I tend to get a little heating in dealing with this unbelievable situation, as I’m sure many people do, read this site as proof…the main point you keep sidestepping is that your employee did not correct Brad when he called and had several conversations about the money back if he could not be helped. But that is common when companies like yours just want to “seal the deal”. Had she said, You must had misunderstood the commercial..Brad would not have continued with your company. But, Miriam did not. In fact she kept promising to fax over the paper that stated that. I know because Brad and I had many conversations with each other which ended in more with Miriam..to see when that was being sent. Funny that you completely disregard the heart of the situation here. But then, you might have to do the right thing..I understand people like you. I will let Brad know you want to have a meeting so we can get this resolved, It wont be a meeting of you showing us our misunderstanding. What your employee assured us, when she was asked..is crystal clear, The only thing left to be seen is how honest you are.

  • Allen Brodetsky

    Brenda:

    I am very sorry to hear that our services did not meet your expectations. We pride ourselves on providing high quality service and never like to hear that we’ve got an unsatisfied customer.

    Please note that our company does not provide legal services, nor has it ever purported to provide legal services or be associates with attorneys. We are a licensed Broker by the California Department of Real Estate. I agree with you wholeheartedly that “lawyers are unnecessary to accomplish a loan re-modification.” In fact, the majority of people try to go thru a loan modification with their lenders themselves and are perfectly successful. Many of our previous clients attempted to go thru the process themselves and only engaged our services after being declined.

    The transcripts that were sent to you where from one show that aired on KFWB 980. The same show was aired on the radio station you listened to as well. The package also included an audio cd with a show that actually aired on the radio station you listened to. Pursuant to my previous comments, neither show had any indication of a money back guarantee as you claim. We ceased appearing on the air after legislation was passed on October 10, 2009 that prohibited brokers to engage in loan modification advance fee agreements.

    I would like to invite you and your husband to our office and go over your file in person. It appears that there is a misunderstanding of the facts that had transpired and I would like to clear up any questions or misconceptions that remain.

    Please let us know if this will work for you and we can schedule an appointment at your convenience.

    Thanks so much, we look forward to hearing from you.

    Allen Brodetsky

  • http://Website Brenda Daniels

    Update: We just received in the mail, the said documents. The phone documents were unimpressive, hardly any information on them. and few and far between in the 6 months, much like I previously stated. Also, the transcripts from the radio infomercial were not even from the radio station that was listened too. ASB sent us transcripts from KFWB 980, which we don’t listen too. and they are not dated, so its not even the commercial we heard. But thank you Allen for even responding to this situation. I’m sure a lot of companies wouldn’t even care enough. In our experience with situations that do not go according to contract, verbal or otherwise, we have never pursued a result. We chalked it up to lesson learned. But being tired of being taken advantage of, and especially during these uncertain and stressful times, all we want is what was agreed upon. Had the job been done as promised and to satisfaction even, we would have followed through on our side of the contract and paid the remaining dues.

  • Allen Brodetsky

    Dear Steve & Brad,

    We regret any inconvenience you have experienced, and we assure you that we are anxious to retain you as a satisfied customer. I have personally reviewed the information you sent us and conducted a full investigation in order to resolve this matter fairly.

    W have sent Brad a copy of the transcript and audio from the radio clip he is referring too. What was offered was a free consultation to see if one is a candidate for a loan modification. At no time was any promise or offer made of a money back guarantee. Our business agreement is designed to compensate us only for work we actually finish. The four steps include:

    1. Due diligence analysis of resolution options. (25% of advance fee)
    2. Submission of file to lender for consideration. (25% of advance fee)
    3. Update financials and documents requested for negotiator assignment. (25% of advance fee)
    4. Completion of loan modification. (25% of advance fee)

    Brad only paid half of the total advance fee. Our firm completed work thru step three and rightfully earned 50% of the advance fee. The agreement signed by Brad included a clause that did not guarantee successful outcome and, in fact, clearly stated that the Broker is acting on a best effort basis with no guarantee of outcome. This agreement is the same for all clients and was reviewed and issued a ” No Objection” letter by the California Department of Real Estate before its use.

    The nature of the loan modification business requires our staff to spend endless hours on the phone with lenders. For this reason, we strongly encourage our clients to call us for updates at any time they have questions. When we require information from our client per lender instruction, our policy is to immediately get a hold of our clients and request what is necessary. At no point did any messages, voice mails or inquiries go unanswered within 24 hours. Often times lenders take 30-45 days to process paperwork received. Accordingly, no new updates are available and there is no news to report to our clients. Although Brad may have felt that he was starting all over again during the one time his file was transferred, reality is that the lender consistently asked for new updated paperwork which appeared to become duplicative. At no time did we ever start the process over. On the contrary, I have sent Brad a conversation log of 17 individually documented phone calls placed to the lender for status and updates.

    In the event that Brad, Steve or any of the readers have any questions, comments or concerns regarding Brad’s erroneous posting, you may contact me at (818)-881-8883.

    Sincerely,
    ASB Capital Group, Inc.

    Allen Brodetsky
    President

    • http://Website Brenda Daniels

      We have received no such documents at this time from ASB CApital. In good business, when a representative of your company makes claims, it is reflective of you and the company you own. It is your obligation to train your employees to correctly represent your company. Miriam did make several verbal agreements that our money would be refunded, We had nothing to lose. I am Brad’s wife and I do not trust companies such as yourself. This is a process we have learned after dealing with you and talking to many individuals in our position, that lawyers are unnecessary to accomplish a loan remodification, Which I am sure you are aware of. In my wariness, I had several conversations with Brad, nagging him to get the promise from Miriam in writing. He spoke with her several times at my insistance, each time she promised to fax it over. Being in our situation is stressful, so in the runaround and dealing with so many different agents, where, Yes, we had to resubmitt EVERYTHING, and the didn’t even know all the facts, SO it was like starting ALL over again, ANd Miriam, no longer an employee, we never did receive that in fax. Shame on us for getting caught up in the process and stress and not catching it. SHAME on YOU< for not standing behind your employee and the verbal agreement that was made to us. Being business owners Ourselves, we know what it means to stand behind your company and your product. As for how hard..your company worked…When we spoke with our mortgage company, they said they were waiting on paperwork, requested 3 WEEKS prior.. Your people never even let us know the case was stalled on this paperwork..and did nothing to make us aware of it. That seemed to be the situation quite often throughout our dealings with your people. You even told my husband you have refunded other customers their money..which you signed yourself..Why so..if there is no refunds available. The main point being, you are not standing behind what your verbal agreement was, you did not preform up to contract, and I feel like this whole thing was a rip off, and would like verbally promised refund.
      Sincerely,
      Brenda Daniels

      • http://Website Brenda Daniels

        Note : 17 calls in 6 months equals less then 3 calls a month made to our mortgage company and does not equate to ” endless hours checking status”. And I’d love to actually see said documents. We made over that to you and the mortgage company ourselves checking status.

      • http://Website Brenda Daniels

        One more note, if mortgage companies take 30-45 days to process paperwork you send, why did we resubmit ALL documents, not just bank or pay stubs, over 3 times..to contacts that we now taking over our case..and the whole process took 6 months..not 30-45 days…Kinda proves my point that the job was being tosed to new employees who started over.

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