I Paid My Dead Husbands Life Insurance to 321 Loans and Now They Are Gone


Dear Steve,

My husband died in July 2015 and I received some money from a life insurance policy. I stupidly paid $23,000 to 321loans to pay off my debt.

As of now, I cannot get ahold of anyone. My correspondence has been sent back to me as “unable to forward”…

I’m not getting any more correspondence from my creditors either.

What can I do to make sure my money is not “up in smoke” and I have to deal with the credit companies anyway?



Dear Susan,

So sorry to hear about your experience. What makes the issue so frustrating is you’ve paid $23,000 and can’t get anyone to respond to you.

If you have not read Pair of Attorneys Goes After a Number of Debt Relief Companies While Targeting Jeremy Marcus.

That recent lawsuit may sound a bit similar to your experience.

You’ve done what I always suggest by attempting to contact the company first. You may also want to read How to Try to Get a Refund From a Debt Relief Company.

Given the fact you’ve tried to contact the company and they have vanished on you, you may want to consider contacting the lawyers who filed that suit and see if they have any current advice about where the company might be now.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Do you have a question you'd like to ask me for free? Go ahead and click here.

Damon Day - Pro Debt Coach

Follow Me
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.
Steve Rhode
Follow Me
Latest posts by Steve Rhode (see all)

5 thoughts on “I Paid My Dead Husbands Life Insurance to 321 Loans and Now They Are Gone”

  1. I suppose she could go through her state’s Secretary of State website and pull up the business certificate of formation. There is a registered agent listed.

    • You are correct. The current president of 321 Loans, Inc. is 321Loans Business Trsut, 1410 SW 3rd St, Pompano Beach, FL 33069. It’s the same address the BBB has as well. https://www.bbb.org/south-east-florida/business-reviews/loans/321loans-in-pompano-beach-fl-90132099 Here is what the BBB is currently saying.

      BBB’s files contain a pattern of complaints from consumers alleging miscommunication issues, sales practice issues and product issues.

      Specifically, complaints from consumers allege that 321 Loans lends them a sum of money, generally totaling their outstanding credit card debt, which they’re under the impression will be used to consolidate and/or pay off their debt at a much lower interest rate. Consumers report that they discover later that the funds aren’t being forwarded to their creditors, but instead the monies are going to fund other subsidiaries such as Helping America Group, Financial Freedom National, Paralegal Support Group, Breeze Financial Solutions, US Legal Club, etc. allegedly for debt reductions services. BBB records indicate that these companies share the same principal(s) as 321Loans.

      Additionally, many consumers have reported that due to the non-payment to creditors, their credit scores have declined.

      321 Loans’ general response to complaints is something very similar to the following:

      “Pursuant to the Loan Agreement the Borrower entered into with 321Loans, Borrower received a Special Purpose Service Loan. Under this type of Loan, Borrower received a Loan from 321Loans. Borrower would pay back the Loan to 321Loans in monthly installments. 321Loans would disburse the Loan payments made by Borrower to 321Loans to third party companies in order to pay for the programs offered by the third party companies.

      321Loans does not take the Loan payments made by Borrower and disburse such payments to Borrower’s creditors and/or debt collectors; nor does 321Loans consolidate the Borrower’s debt and/or make payments on behalf of the Borrower to her creditors and/or debt collectors.

      The consumer was under the impression that 321Loans would pay off their debt and the consumer would enter into a loan agreement to pay back company at a lower interest rate.

      While it is true that if client enters into a Loan Agreement with 321Loans, Client will most likely receive a loan with payments at a lower interest rate then the interest rates Client currently pays on his debt, the payments for the loan are not disbursed by 321Loans or Helping America Group (“HAG”) to pay off client’s creditors/debt collectors. 321Loans disburses loan payments to third party companies, which may include HAG, to pay for that company’s programs that work to get the debt dismissed. The payments are NOT used to pay off the client’s creditors/debt collectors.”

      Overall it is BBB’s finding that consumers consistently allege in complaints filed with BBB that they’re paying back a monthly loan payment and are not receiving the services represented in the original phone calls. They are not receiving loan funds that they believed were being extended to pay off creditors and their debt.

      On February 25, 2016, BBB sent correspondence to 321 Loans requesting their voluntary cooperation in providing steps it will implement to eliminate the underlying cause of the pattern of customer complaints.

      On February 29, 2016 321 Loans replied to BBB with the following statement:

      “Pursuant to the review and pattern of complaint(s) received, 321Financial will work towards eliminating these patterns through the following procedures:

      1) Reviewing the individual Client’s complaint in detail.

      2) Contacting the Client for further resolution of their complaint, concerns and issues by going over the executed contract.

      3) Go over the solution(s) available on resolving the Client’s complaint, such as any specific request they may have.

      4) If there any misunderstanding, ensure that Client understands the services they are receiving, including addressing the issues and concerns the Client may have on the monthly courtesy call, ensuring their case is going well and making sure their account is in good standing. In addition to, making sure the Client is understanding the services being rendered.

      5) Do a monthly review of ALL the complaint(s) made, and do a monthly analysis of the complaint(s) to further improve services and/or change any policies if needed to better assist and service our Client(s).

      6) The goal is to ensure the client has been satisfied with the resolution of the complaint and have the Client make a written statement on the BBB of their satisfaction. Instead of the complaint being judged as “Unresolved.”

      7) Provide the Client realistic timeframes the BBB to ensure not only the Client is satisfied, but the BBB has been satisfied with the timeframes required.

      8) Provide the Client any possible portal to complain their misunderstanding, concerns or issues through our Company first prior to seeking any other alternatives. By providing this to Client it helps the Company and the Client resolve any outstanding issues in a timely matter.”

      BBB will continue to monitor the company’s file and update this portion of the company’s Business Review as deemed appropriate.
      On June 7, 2016 BBB reviewed the recent complaints for 321 Loans and found that the same pattern noted above still exists.” – https://www.bbb.org/south-east-florida/business-reviews/loans/321loans-in-pompano-beach-fl-90132099/Alerts-and-Actions


Leave a Comment