Question:
Dear Steve,
It has just been brought to my attention that this organization that popped up is run by Loc Phu AKA Oliver Pomazi of Arete Financial demise. It looks like this is “fronted” by Samson Ly, who is a lifelong friend of Loc Phu’s.
Answer:
I have no way to know if the statements you made about Loc Phu, Oliver Pomazi, or Arete Financial Freedom, or can be confirmed. But I did find a big red flag on the honesty and transparency page.
For some unexplained reason, the BBB logo and link at the bottom of the Supreme Advocates page actually goes to a different company.
It actually goes to a BBB page for a company named Spectrum Payment Solutions that says it is a credit card processing services company and the CEO is Samson Ly. – Source
Supreme Advocates says they are located at 6400 Oak Canyon, Suite 150, Irvine, CA 92618. The State of California does have a business registration for Sumpreme Advocates, Inc. The company was registered on December 20, 2019. – Source
That registration says the company is actually located at 999 Corporate Drive, Suite 100, Ladera Ranch, CA 92694 and the type of business is MARKETING SERVICES.
But here is something even a bit stranger, the BBB listing for Spectrum Payment Solutions, which says it is a credit card processing services company, also has customer reviews that read like a debt relief company. Even the Spectrum Payment Solutions website reads like a credit card processing representative.
Here are the two customer reviews on the Spectrum Payment Solutions BBB website. Let me know in the comments section below how you think these read. – Source
“Karen T
★★★★★
04/16/2020
Great company and easy to work with. Did what they said they would. They were transparent and responsive to all my calls and emails. Credit card debt was getting out of hand and they really helped me get it under control. Highly recommend!
Michael N
★★★★★
04/15/2020
I couldn’t do it anymore. I’ve tried my best to keep up with the payments year after year, and it seemed like things were going nowhere. I relied heavily on credit cards to get my family through years of expenses and was grateful for having them to use. Most people complain about credit cards and I was thankful I had them to lean on. Then, It happened. I wasn’t making enough money anymore because of less work and our family endured one hardship after another. I ended up maxing out all our credit cards just to stay afloat. I’ve always prided myself on paying bills on time, every time, all the time. So I didn’t think this was an option for me. And I kept hearing people talk about it. And I couldn’t just go borrow money somewhere. Borrow from who? So I decided to reach out just to see what this was about. The rep was very calm and understanding. It felt like they genuinely cared about my situation. They asked me questions. I asked a lot of questions of course and had my doubts. The conversation was sincere and I really liked the attention to customer service. They didn’t rush me and make me feel like I was just another random caller. And didn’t make me feel I had to make a decision right away. It felt like I was talking to one of my friends. At the end of the day, what they told me made sense. I relied on credit and leaned heavily on it and faced unexpected challenges in life. Now I’m overextended and can use some guidance. I know there’s no possible way I’m going to win the lottery anytime soon, so I needed a sound plan to get myself out of debt faster. That’s what they did for me. They drew up a game plan and showed me the numbers. They didn’t sell me a dream. They just broke down the figures and thoroughly explained the process and showed me our options. I didn’t think this would work and now I am glad I did it. I’m actually left with some money each month now after I’ve enrolled and started the program. I’m still paying bills and have some extra cash for food and other important things. It felt like a 10 ton anvil was lifted off my shoulders. I was worried at first and now I feel so much relief because of the great service they provide at Supreme Advocates. Thank you guys! You’re doing a great thing here. *******”
The BBB does say Supreme Advocates is a debt services company, located at 6400 Oak Cyn Ste 150, Irvine, CA 92618-5205 and Samson Ly is the CEO. The BBB also says Supreme Advocates has no rating.- Source
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It seems like a scam to me. They cold called me asking if I wanted a loan and wanted my SSN.
I asked someone who works in the credit card (merchant) processing industry and he said if the same company was also providing debt settlement then it would be a conflict of interest They would lose their ability to offer credit card processing if the merchant processor found out about it.
On face value, it seems like a sticky wicket.
Question submitted.
Answered.