A credit counselor tipster (send in your tips here) sent me in a consumer agreement for a company called New Life Financial. Immediately after looking at the contract and then visit the website my radar was going off.
It seems the company that offers a service where they review the finances of a consumer and then guide them to a debt management or debt settlement program.
Our Financial Consultants are highly trained and experienced in the Debt Relief industry and can offer insight into all the tools necessary for obtaining debt consolidation or mortgage refinance loans as well as enrolling in debt management or settlement services. – Source
And what does New Life Financial charge for this service? In the client agreement I have in hand they charged three NoteWorld collected payments that totaled $5,628.
The New Life Financial Solutions (NLFS) contact says that for $5,628 the company is going to provide:
financial consultation and referral service, through which NLFS will conduct a financial appraisal, gather all of your financial information necessary to obtain a complete file for financial consultation and referral to 3rd parties.
NLFS advises, counsels, and tries to assist you in placing your debts with a 3rd party service provider most suitable for your particular situation.
It appears in the agreement the referrals will be to companies “who will attempt to negotiate settlement of the debts, reduction of interest rates, refinances, debt modifications, tax debt, tax liens, lien strips, etc.”
And then there is this cute little line, after charging the consumer $5,628 they then say and oh by the way, “NLFS is a fully independent service provider and is not affiliated in any way with the 3rd parties and is not responsible for their performance with regards to the services they provide.”
Who Are They?
The New Life Financial mystery deepens when you try to figure out who they are or where they are.
The website only lists an email address to contact them on and the only telephone number I found, on the agreement, 855-756-2444. That phone number has a bunch of comments about it on 800notes. One in particular says it was related to EMA. Remember that as you read.
Even their about us page is vague and in fact does not say anything about who they are.- Source. For $5,862 I’d want to see more, much more.
The domain name, newlifeconsultants.net, was registered on November 10, 2010 and sites on a GoDaddy.com server with thousands of other sites.
According to corporate records, New Life Financial Solutions, Inc. is located at PO Box 595, North Hollywood, California 91603. The officers are Joseph Shamolian. The company was incorporated on August 30, 2010.
Records also show that EMA Nationwide also has Joseph Shamolian as an officer of the company.
EMA Nationwide was the subject of a recent notice by the State of Wisconsin for operating in the state without being properly licensed. – Source
EMA was also mentioned in that 800Note comment I mentioned. Here is what it says:
they claim they are part of EMA (expense management america)…dept consolidaters. idk if its a scam or not anymore, i went along with it and even signed online documents and they will call you back if you leave voicemails, but if they say “lemme do blah blah blah and call you back or please hold on” they hang up and you dont hear from them. Caller: “new life consultants”
It appears New Life Financial is or was looking for employees in Montreal, Canada. – Source
AMAZING EARNING OPPORTUNITY FOR FULL TIME CANDIDATES!
OLD MONTREAL COMPANY LOOKING FOR EXPERIENCED SALESPEOPLE!
CALL US IMMEDIATELY AT 1-855-756-2444 EXT. 1010
MUST SEND RESUME TO BE CONSIDERED: [email protected]
We are a company dedicated to helping consumers with their financial needs. This is your opportunity to take your career to the next level! Our sales agents educate, inform and help consumers re-gain control of their financial situation through innovation, integrity and an excellent customer experience.
All members of our team share a common enthusiasm and commitment to have fun while having a significant impact on people’s lives and financial futures.
Our program allows consumers to significantly lower their monthly output of payments to creditors. All in all, your job is to simply introduce our services to our clients, while providing them with all the necessary information for a solution.
We currently have immediate openings. The individuals we are searching for must have:
• A minimum of 2-5 years of PHONE SALES EXPERIENCE
• A DETERMINED & COMMITTED attitude
• A POSITIVE & FRIENDLY personality
• A STRONG WORK ETHIC, PUNCTUAL AND RELIABLE
• High levels of SELF-MOTIVATION
Our employees enjoy:
• A fun and casual work environment in a conveniently located and state of the art facility
• Fast growth potential
• Office located in close proximity to all downtown Colleges and Universities
• Bus stop located in front of building
• Close proximity to Metro
• Indoor parking available
• Performance based salary including monthly bonuses up to:
Financial Analysts will earn monthely salary based on a recurring business model.
Contact us to join our team today! Apply Now as positions are limited!
Phone. 1-855-756-2444 ext.1010 Email. [email protected] – Source
But here is the kicker, I remember seeing an advertisement that was very similar to this so I went hunting for it. And I found it.
So if the sales reps they were hiring under EMA work for a “dynamic debt settlement company” then why would a consumer need to pay New Life Financial to refer them to a debt settlement company. I think they already know one and it’s them.
NoteWorld is Involved
I was under the impression that NoteWorld only worked with the best companies and they had said they’d ditched all of their upfront fee clients but this consumer agreement in hand that wants three payments of $1,876 contains an agreement for NoteWorld services.
The Full Client Agreement
It’s a Stinker
This pitch from New Life Financial Solutions is a stinker. I would not advise anyone that asked me about this offer to go with it but I’ll let you make up your own mind.
And here is where we prepare for the attacks in the comments to begin.
6-8-2011: Upgraded This Company to SCAM
Based on the comments submitted by an employee. I’m upgrading my rating of this company to SCAM.
Why I stopped at New Life Financial:
- We’re supposed to say were located in California. I had told one of the people I called that we were located in Montreal and when I mentioned this to a junior he got upset. “Why can’t we say were from Montreal?” I asked a senior “Because Americans don’t trust Canadians”. I don’t believe there should ever be a reason for being dishonest. Dishonesty is unethical.
- I’m on at a seniors desk and I see 12 missed calls – how am I supposed to respond to a concerned voice over the line that “yes, unlike the other companies – we DO answer your calls”?
- Several people were frustrated on the other end of the line because they were “not interested in the service” and kept “being harassed by” us. Once I mention this to one of the seniors he said that there was a problem with the system but that the receptionist would take care of it and that the people would stop receiving calls in “three to four weeks”. What kind of response is that?
- A woman on the line sounds completely defeated because she is worried that she will be scammed once again – I convince her that we care for her future and finally she tells me “I want to trust you” – I put her on hold for a moment and head to one of the seniors to ask him “Are we really helping these people?” (worried that I might be hurting a woman who has already been scammed by another company known as ‘New Balance’) – “what kind of question is that?” he responds and starts to show me customer testimonials. I continue “I don’t want to be making money off of people if it means hurting them” the senior responds “me neither. Unless it means getting a Ferrari!” and laughs
- Why should we have to ask for peoples’ social [security] number?
- I would never give mine over the phone. What gives me the right to ask other people for theirs?
- And how am I a junior financial analyst? I don’t analyze anything – all I do is write down peoples debts and convince them to give me their social [security] number
- I finally get an insurance number and a valid candidate (anyone with debt over 7000) – I reach out to a senior while he works on closing the deal. The senior speaks to the woman on the line and before putting her on hold tells her “cross your fingers – hopefully this deal with go through the system”. The senior spends a lot of time talking to me while she is on hold – I suggest that the woman is waiting on the line so he should get back to her. He finally gets back on the line with her and tells her “sorry about the delay ma’am but I’m glad to say that I have good news for you – the deal went through the system so congratulations!”. What system? The senior was not putting anything through the computer while talking to me – there wasn’t any “system” her information was going through.
- I made two sales within my first 5 hours on the job – without having any real understanding of what the company does.
Suspicious New Life Financial Solutions Contract Has Me Very Concerned - SCAM by Steve Rhode
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