Question:
Dear Steve,
My Aunt and Uncle just signed up [near start of February] with a company Named Pebblestone Financial which uses a Legal firm Boulder Legal Group LLC. I am concerned. She told her sister my mom, we live next door. I wasn’t there for the interview. She is on hospice and I know she is concerned over their debt but I want them to make the right decision. All the debit is credit card they are in their 70s
Have you hear of Pebblestone Financial and Boulder Legal Group? Can I have peace of mind they are using them or is it a scam. As a tax accountant, I have run across too many people who have been scammed.
Barbara
Answer:
Dear Barbara,
I just happened to write about Boulder Legal Group.
The Boulder Legal Group client agreement I wrote about had a number of fees associated with it that raised questions. I’m still waiting for a response to that post from Boulder Legal Group.
Pebblestone Financial does not sound familiar but they may be a marketing affiliate of Boulder Legal Group. From your question it’s not clear what service they were selling to your dying Aunt. Their home page seems to be debt consolidation loan oriented so I’m not sure what the specific connection is between Pebblestone Financial and Boulder Legal Group. – Source
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By the way, Pebblestone Financial is a registered trade name for in North Dakota and public records say the company is owned by MEC Distribution.
MEC Distribution has a BBB listing that says the company is also known as MEC Management, Sovereign Funding. – Source
I’ve written about MEC Distribution and Sovereign before, here.
I’m assuming she is dying since she is under hospice care. I’m sorry to hear she is struggling with her health. That issues raises some questions that should be explored. Any debts that may be in her name alone would end with her unless your relatives lived in a community property state.
I certainly think they should meet with a bankruptcy attorney who is licensed in the state they live in to give them an opinion about what bankruptcy might mean for them. If bankruptcy is applicable to their situation then they would be able to deal with the debt quickly and affordably. Especially in this stressful time, that may have some significant advantages for your Aunt and Uncle.
