I received the following mailer as part of my I Buy Junk Mail program. People with credit card debt are apparently being targeted with this mailer that contains a fake credit card in it.
S&N Debt Solutions, who also identifies themselves in the mailer as the S&N Financial Solutions Consolidation Alternative, has sent this mailer that in my opinion could be easily misunderstood to be a loan or line of credit offer.
However, if you read the fine print, you get a completely different impression of what this is about.
The credit card debt mailer actually says, “This is a communication from S&N Debt Solutions, LLC. This is an attempt to facilitate a renegotiation of debts directly with creditors, or debt collector. This offer is not a loan and is strictly an advertisement for debt settlement. Program results vary and you should review full program terms and conditions before enrolling. Information used in this offer was obtained from public sources and any person can opt out by going to : www.mail-opt-out.org. S&N Debt Solutions is a performance based fee only company. Not available in all states.”
The mailer instructs people to go to the website snfinancialcard.com to get started online.
snfinancialcard.com is registered to:
Registrant Name: Arthur Wang
Registrant Organization:
Registrant Street: 89 bridge street plaza
Registrant City: wheeling
Registrant State/Province: West Virginia
Registrant Postal Code: 26003
Registrant Country: US
Registrant Phone: +1.8588373771 – Source
Wang also owns a number of other financially related sites including:
activebizloan.com, activatemybizloan.com, americorcard.com, bbsavingscard.com, ckblackkard.com, ckkard.com, clearonecard.com, dmbfinancialcard.com, getmysignatureloan.com, signatureonecard.com, sploannow.com, usavsdebtcard.com, ventureloannow.com, and venturepreferredcard.com.
An online search now says S&N Debt Solutions is now Beyond Finance. The Beyond Finance website at beyondfinance.com is registered to:
Registrant Name: Nicole Morgan
Registrant Organization: S&N Debt Solutions
Registrant Street: 85 Sam Fonzo Drive
Registrant City: Beverly
Registrant State/Province: Massachusetts
Registrant Postal Code: 01915
Registrant Country: US
Registrant Phone: +1.9789690504 – Source
The same person also is the registered person for adebtfreetomorrow.com, firstdebtrelief.com, mydebtreduced.com, powerdebtrelief.com, prodebtrelief.com, resolvemydebttoday.com, and trusteddebtrelief.com.
The beyondfinance.com domain was first registered to S&N Debt Solutions on December 18, 2016.
The sndebtsolutions.com website now says:
Which is interesting since domain registration records say the Beyond Finance domain is owned by S&N Debt Solutions.
The new Beyond Debt website says the company is a member of AFCC and IAPDA. But while the new site gives the impression this is a new service, the disclaimer at the bottom still sounds a lot like debt settlement.
“Clients who make all their monthly program payments pay approximately 50-55% of their enrolled balance before fees, or 68%-80% including fees, over 24 to 48 months. Not all clients are able to complete our program for various reasons, including their ability to save sufficient funds. Our estimates are based on prior results, which will vary depending on your specific circumstances. We do not guarantee that your debts will be resolved for a specific amount or percentage or within a specific period of time. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Our service is not available in all states and our fees may vary from state to state. Please contact a tax professional to discuss potential tax consequences of less than full balance debt resolution. Read and understand all program materials prior to enrollment. The use of debt settlement services will likely adversely affect your creditworthiness, may result in you being subject to collections or being sued by creditors or collectors and may increase the outstanding balances of your enrolled accounts due to the accrual of fees and interest. However, negotiated settlements we obtain on your behalf resolve the entire account, including all accrued fees and interest.”
– Source
And while Beyond Finance brags about “Our leadership helped create and grow brands like WebEx, Barclays, Prosper, Avant, Capital One, Chase, and USAA.” they don’t seem to actually list what their business address is one their website. In fact they don’t seem to list what state they are located in on the Beyond Finance website.
So if we look in the state of Massachusetts for a Beyond Finance there is a Beyond Finance, Inc. that is registered there on October 17, 2016. The registration says the company name used to be Independent Debt Relief, Inc. and the president of the company is Itzik Cohen. – Source
What is interesting about Itzik Cohen is he was apparently the Prosper Chief Business Officer and the Prosper VP of Business Development. – Source
With the Beyond Finance statement, “We’re reinventing consumer debt management by heavily investing in data, technology, and innovation to provide faster, individually tailored financial solutions that just work”, it is very possible Beyond Finance may be trying to grow into a leading technology driven debt relief company. Intriguing.
What is perplexing is why a supposedly smart innovative company would take over or get involved with S&N Debt Solutions to begin with. At least based on alleged past employee reviews, not everyone was a happy camper. – Source
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This exposes a rattlesnake den. Unlike the DOE and student loans, this den can be killed by bankruptcy courts. Good sleuthing.