Quick Answer: Interest Rate Solutions operates multiple domains targeting student loan debt and uses misleading loan offers that convert into debt settlement sales pitches. Despite claiming a BBB A+ rating, customer complaints reveal the company’s “loan” marketing actually leads to debt settlement services rather than actual lending.
A fantastic reader has sent in a recent mailer from a company named Interest Rate Solutions. This appears to be the same company that I wrote about in Interest Rate Solutions Has GOT to be Kidding with IRS Mailer.
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By the way, DomainTools.com says the domain InterestRateSolutions.com is located on the same server with a total of ten domains:
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MakeLowerPayments.com says they are located at 1500 N. University Drive, Suite 115, Coral Springs, FL.
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According to the BBB Interest Rate Solutions is located at 2312 Park Ave Ste 215, Tustin, CA 92782-2702. They also state Ruddy Palacios is the CEO.
While Interest Rate Solutions is said to have a BBB A+ rating, they also have some very interesting reviews and complaints.
Here is the complaint which leads me to believe the loan offer turns into a sales pitch for debt settlement. “That’s when the cat leaped the grand canyon out of the bag! Turns out it’s not a personal loan but a “settlement” by which they’ll negotiate you debt and yada, yada, yada…. When did “settlement” become synonymous with “loan?!” Just be careful, folks! Make sure you know what you’re getting into before you agree to anything.”
The Mailer
The issue from my point of view is if the mailer consumers are receiving results primarily in a loan as claimed or if it is a mailer that consumers are attracted to and then pitched a debt relief service. don’t know exactly what the definition of bait and switch is but sending a mailer promising a loan and selling some other debt relief solution, feels a little deceptive to me.
I would recommend that anyone considering using such a company should read the following free guides.
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
By the way, if you go to the Interest Rate Solutions website they say they are located at 2312 Park Ave. Suite 215, Tustin, CA 92782 which appears to be a UPS mail drop location.
Before You Sign Anything: Run any debt relief contract through the free Contract Decoder to spot hidden fees and unfair terms. Check the company’s complaint history with the Scam-O-Meter.
Compare Your Real Options: Most debt relief companies won’t tell you about all your options — especially the ones they can’t profit from. Credit counseling has a 21-27% completion rate. Settlement resolves about 1% of enrolled debts fully. Bankruptcy has a 95% discharge rate — and protects your retirement. Take the Find Your Path quiz for a recommendation based on your actual numbers.
I was or am a customer of interest rate solution I was paying $864.00 a month I ran into trouble and my check bounced and I can not get anyone to answer the phone I there anyone who can take over my account so I can pay off my debt they told me I’d be out of debt in 2 years I need help with my credit card debt I was scammed last january please can you take over my account