Whitestar Financial Services Review


20283 State Road 7, #104
Boca Raton, FL 33498
Tel: (561) 482-9306, 866-606-0914
Fax: (561) 482-9307




We can help you take control of your debt situation by:

  • Reducing your debt by up to 50%
  • Stopping creditor phone calls
  • Making one low payment a month
  • Avoiding bankruptcy

– From WFS site


Stephen M. Krause – President
Jonathon R. Comer


Peter Kirschner – peterk@whitestarfinancialservices.com, Peter65k@gmail.com

Listing of WhiteStar Agents: Adam Parks, Adrian Rivera, Alan Lipsky, Albert Michaels, Alex Khodadad, Amar Pratap, Ana Englehard, Ana Higging, Anita Green, Autar Singh, Ben Harvey, Bernardita Corpuz, Betty Davenport, Bill Agraham, Bill Mott, Bill Stewart, Billy Bui, Bob Manns, Bob Zieminski, Brandon Ellington, Brett Reed, Brian Brittenburg, Brian Johnson, Bruce Wert, Bryan Poulos, Carey Macneille, Carlos Duque, Carlos Oriheuls, Celso Flores, Chandra Klem, Charles Jones, Chris Gors, Chris Lavakis, Christopher Carnival, Chuck Wirth, Cinda Guerrero, Cindie Froshaug, Cindy Guerrero, Cola Allen, Corey Young, Craig Tuohy, Cynthia Poulos, Dale Hanson, Damian Garcia, Danette McSween, Danny Guitierrez, Dave Desko, David Kaltic, David Lang, David Lintner, David Medina, David Yi, Dawn Anderson, Dean Fletcher, Denise Denova, Denise Titus, Derrick Barnett, Derrick Rivera, Dorothy Young, Doug Turney, Dustin White, E. Greg Sommerville, Eduardo Paras, Edward Rennick, Elisabeth Koo, Eric Lam, Eric Mueller, Frank Cardinalli, Frank Dumo, Fred Moharjei, Fritz Wiecking, Gary Deleon, Gary Frank, Gary Graham, Gene Perez, Genevieve Black-Velasco, Geoff Morris, Gerald Walthers, Gerard Scheffler, Glenn Baker, Glenn Kessler, Gloria Berenson, Gloria Grisales, Gordon Thorton, Greg Fleetwood, Greg Kassner, Gregory Peers, Harry Goldberg, Hudson Rivera, Isaiah Washington, James Clemmons, James Knopf, Janette Venturino, Jeff Sype, Jennifer Radell, Jerry Destefani, Jesse Nash, Jim Martinez, Jim Zenner, Jody Kennedy, Jody Powell, Joe Collingsworth, Joe Schillan, John Anderson, John Estillore Jr, John Mantovani, John Occhiuto, Johnny Rizek, Juan Brambila, Julie Hutchinson, Karla Krupsky, Katie Bajrak, Keith Turnbull, Kent Chiao, Kevin Ovcina, Kirin Coates, Krista Tanji, Larry Lalone, Larry Schwartz, Lenny Horowitz, Leonard Ramos, Leslie Ziemnski, Lila Rzik, Linda Hanson, Logan Legros, Lois Eltman, Louis Abude, Luis Batista, Marc Plotkin, Marek Lisaj, Margaret Arquilla, Maria Calanchini, Maria Reddington, Marilyn Sorensen, Mark Crouch, Mark Fitzgerals, Mark Sinaguglia, Marquaz McGhee, Marty Stanley, Matthew Ottaviano, Matthew Wright, Mel Seibold, Michael Basso, Michael Dudas, Michael Hart, Michael Jeffers, Michael Olstdet, Michael Zec, Mike Luong, Mike Vernon, Misa Davenport, Mitch Chapman, Nabil Hanania, Nikki McGhee, Patrick McGinness, Patrick Quinn, Paul Klein, Paula Ouch, Peter Kalker, Peter Travis, Phil Tiscareno, Preston Johnson, Raul Pol Valdez, Razek John, Ricardo Roberto, Richard Grieb, Rick Darrow, Ricky Cannon, Robbie Amdeen, Robert Bertucci, Robin Murray, Rodney Ferguson, Rodney Kennedy, Roger Lundquist, Roger Percival, Ron Bayer, Ron Cutler, Ron Herbert, Roxanne Skinner, Sam Tsakanikas, Sandra Goodell, Scott Moris, Scott Pfister, Scott Pupek, Scott Soto, Shane Castro, Shannon havre, Shawn Besharaty, Sherin Mohamed, Shirley Treat, Steve Kaplan, Steve Little, Steven Hensaw, Steven Stuart, Stuart Rubens, Susan Beck, Tammy Nguyen, Tere Cutler, Thuan Nguyen, Tyler Clock, Vicki Brikmann, Vicki Wobrock, Vincent Adams, Vonicille Denson, Wade Dunn, Wade Schnee, Wais Asefi (listed as of 1-15-2009) *, *, *, *.

Other Associated Employees: Ron Bayer – Account Manager


National Debt Defenders Network (NDDN) – The management of NDDN are listed or referenced agents of Whitestar Financial Services.

Interesting Points

In a complaint below, two people, Peter Kirschner and Stuart Rubens, that hold themselves out as working for Whitestar Financial Services are the founders of National Debt Defenders Network (NDDN). Marc Plotkin is listed as a Whitestar Agent their site* and so it Stuart Rubens*. Odd.

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There are actually two companies with similar names with Steve Krause as the manager of them. There is Whitestar Financial, LLC and Whitestar Financial Services, LLC. The website for this company says it is Whitestar Financial Services, LLC but the BBB report they link to is for a different company, Whitestar Financial, LLC. Odd.

Stephen M. Krause is also a corporate member of American Foundation for Debt Relief, Inc., The Christian Debt Relief, LLC , Christian Savings Network.com, LLC (Formed with mRevolution, LLC that is located at the same address as Whitestar Financial Services and calls itself a lead generation company), First American Credit Counseling, Inc. These other organizations are associated with Steve Krause at 11787 Bayou Ln Boca Raton, FL 33498. Stephen Krause was involved in The Christian Debt Relief, Inc with Michael T. Bolognese from Farmingdale, NY.

Stephen Krause Associations

The telephone number for Whitestar Financial Services is the exact same number associated with American Foundation for Debt Relief.

Some Disturbing Statements They Make On Their Site

  • How will debt settlement affect my credit? – Debt settlement is a bankruptcy prevention program and may adversely affect your credit if your debts are current and you have no history of late payments. The debt settlement program will, in the end, improve your debt to income ratio and may therefore improve that portion of your credit score. Since you will have resolved your outstanding debt through our program your future creditors will see that you settled your debts instead of filing bankruptcy.
  • Does Whitestar Financial keep my information confidential?– Yes. Whitestar and affiliated law firms are bound by “Rules of Professional Conduct” and maintain your confidentiality at all times. We will only disclose information to those persons that you have authorized to receive that information. All of the creditors that you have contracted us to settle for you will be contacted by us and advised that you have retained Whitestar to represent you. [They already have proven agents that work with other companies, how is the information not shared or protected? Who are these “affiliated law firms?”]
  • Do I have to be delinquent with my debts to be eligible for your program? – No. Our debt settlement program works with debtors in all stages of collection.
  • What are the fees for your services to complete the debt settlement program? – The fees for each case vary based upon the complexity of your financial situation and the effort required by us to assist you to zero debt. This will be discussed with you in detail during the free consultation. It is important to note that with our fees included you will pay a fraction of your debt balance.
  • Will all of my debt be eliminated when I finish the debt settlement program? – When you follow all of our procedures you can expect to have zero balances on all unsecured accounts that you’ve contracted us to resolve. You will still be responsible for your secured debts i.e. mortgages, auto loans, etc. and unsecured debts that you did not retain us to settle. [Unclear how they can make this blanket statement since there are so many ways for a debt not to be satisfied.]
  • How does debt settlement compare to bankruptcy? – Bankruptcy was designed to be your last resort and has a devastating effect on your credit rating that lasts for seven to ten years. Debt settlement is a bankruptcy prevention program and will provide you with financial freedom without the long-term affects that come with a bankruptcy. [Misleading at best. Just an all out misrepresentation at worst.]
  • [Interesting, no mention of being sued while on the program.]
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Reports With Regulatory Actions Against Rubens, Kirschner

Stuart Mark RubensRegulatory Report

Peter Dale KirschnerRegulatory Report


I tell the guy (Stuart Rubens) that I am interested, and I give him all my information. He then informs me that he can’t do one of my cards because I bank with the same card (wells fargo)..so I need to close my account w/ them.

I tell him I need time to think about that because my mortgage is tied to wells fargo, and if I close my account they will increase my mortgage interest rate by 1% pt. Yes, I could keep $1 in the account then just deposit when I need to pay my mortgage but I at least wanted some time to think about my options.

Stuart wasn’t having any of that.

He basically called me an idiot for not taking advantage of his offer, and that it needed to be done NOW or there’s nothing he could do for me, and that he was basically giving me $15,000.

I then just hung up the phone.

Maybe it was just this Stuart guy who was an ass, but if thats how they do business.. then I don’t want any part of it.

Also the email he sent me was from Peter Kirschner
(peterk@whitestarfinancialservices.com).. which also seems kind of shady. Why wouldn’t Stu have his own email address?

Just my experience with these guys… – Source

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Whitestar Financial Services

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14 thoughts on “Whitestar Financial Services Review”

  1. I “hired” Whitestar in Aug. of 2009. I had a ton of credit card debt. It has been almost 1 year & only 2 accounts were settled, Bank of America. I have been sued by 2 other credit card companies. There has been one judgement placed against me. A judgement is basically a lien against your home. I did everything I was told to do by Whitestar, including an insane amount of mailing with return receipt which cost about 5.50 for each letter.

    What is not disclosed upfront is that most debt collectors are attorneys they are not timid about taking you to court & they know how to do it. Whitestar does not have a legal team. Chase does not play, they turn it over to a collector like Weltman, Weinberg & Reis who have no issue with taking you to court to get the money. There is nothing that makes a creditor play nice with Whitestar. It is a roll of the dice.

    I donated a large sum of money to Whitestar & did not get the results that I was hoping for. I am now filing bankruptcy. I am an average, middle income person who got into too much debt & then our economy fell apart. If I were to relive the past year I WOULD NOT go debt settlement. You are not protect from law suits & interest & late fees keep accumulating. Also, unless you can prove that you are insolvent you must pay taxes on any money saved through debt settlement. An example would be if you owe Capital One 5,000 & they settle for 2,500, you will be sent a 1099 & must claim the 2,500 as income earned.

    I made a mistake & I hope by writing this I can save someone else the misery that I have been through.

  2. Steve Rhode, your bald and gay. You have no idea what your talking about. Just because a few people have bad things to say doesn’t mean the compnay is bad. The people that said things that are unacceptle to be said to clients probably got fired. Have you seen any of the testimonials on the companies website? The business seems to be doing pretty well, so before you go slandering them why don’t you do some real research.

  3. I know this article was written a few months ago, but I am hoping to get some more info out of it. My husband signed up with Whitestar about 7 months ago with two credit cards, one has not contacted us since he signed up with them, the other, has sent him monthly statements, which Whitestar told us to ignore, they said that it was ok and typical, but now, that credit card has charged off my husband to a 3rd party collection agency. When my husband called the credit company that was supposed to be under Whitestars program, they said that they never received any information from Whitestar. So we called Whitestar back and they said that my husband never sent in the signed affit davids for them to forward to the credit card companies. So he sent them again, and Roxanne with Whitestar, verified that, yes she did receive them, and would forward them on to the companies. But then I open my mail today and there is a letter to my husband from a law office letting him know that they are now handeling the debt. Now call me crazy, but I thought this wasn’t supposed to happen when you give a company trust to handle your debt consolidation. I have perfect credit, so I have never had to deal with anything like this, and am kind of ignorant on the whole process, but it has been 7 months, and we are trying to do the best we can, and do all that we are told to do, and to make sure that everyone who needs to be paid, gets paid. I am just really scared that nothing is happening, and no one is getting paid. Everytime my husband calls Whitestar, they say not to worry, just forward on the letters to them and they will take care of it. But are they? How do we know, especailly when the two credit cards “under the program” say that they have nothing from Whitestar on file??? He has automatic payments coming out of his checking account, and they have been withdrawing money from us for 7 months, and the money is sent to a 3rd party checking account that we get monthly statements for. Is that money just sitting there, or is it going to the companies that are supposed be getting paid?? I know some of these questions need to be answered (hopefully honestly) by Whitestar, but I just wanted to verify that those “thank you” comments I see on the BBB website, and on Whitestars website, aren’t fake. Thanks for your help.

  4. My issue is I am listed under and working for a company called Whitestar Financial Services. This company was recently named in a negative article and a friend of mine pointed out that I was named as being a sales person for them, which I am not. Further, when I googled my name and scam, as my friend told me to do, I was brought to a webpage with my name and this companies information in Boca Raton, I live in Chicago (Long commute) I do not work there, we only signed up to send business, which we have not. I have done nothing inappropriate and do not appreciate being lumped in and/tagged in the same negative article. I would ask that my name be immediately removed from this negative article as it is both unfair and untrue. I only wonder how many other people signed up as an affiliate and now are being listed and named as being in cahoots with anything illegal or inappropriate. If I haven’t ever personally sent a file there, yet I am being lumped in and accused of something, that is wrong.
    I run a clean business with impeccable credentials including being on the state board of directors for our association. I look forward to seeing my name removed from this list.

      • I get it, so anyone who is signed up to do business with Whitestar is automatically lumped into your negative article campaign and “tagged” regardless of involvement in the dispute you seem to have with them? Not very bias nor responsible journalism if you ask me.

        • Adam,

          I do not have an issue with them. I simply listed the sales agents they listed on the day I wrote the review. If I read your comment correctly you say you did sign up with them as an affiliate. How do you know the Afam Parks they listed was you or another Adam Parks?


  5. These guys had Marc Plotkin- who is supposedly one of their partners- call and text numerous times over the weekend to tell me that they would still like to work with me going forward. He even offered to fly out to LA with to “seal the deal” as he put it. I have all the texts to prove it!!! These just don’t get it!!

    From the date of their posting to this site on the 16th- it looks like they were having one person post lies about me on the web while another was offering to fly to LA with me to meet with my clients.

    Based on what I have found out and learned first hand from dealing with Peter Kirschner, Stuart Rubens and now Marc Plotkin, I would never in a million years let any one of my clients or anybody I have ever met invest one red penny with the people that run this company!! Don’t be taken by these guys if you are potential client or a potential employee. They still have illegal and slanderous information posted about me on the internet after two weeks of them knowing the truth.

    Also kind of funny how they posted with the name “Mike”- but there is not Mike at the company that I have ever heard of. If they were posting the truth then they would feel comfortable using their real names or at least initials.

    Stay away from WhiteStar Financial, National Debt Defenders Network, Peter Kirschner, Stuart Rubens or Marc Plotkin. These are the type of people that give the entire industry a bad name and the reason why there is a need for so much pending legislation. Operating an honest business is obviously too much to ask of some people…..

  6. Your comments are untrue. You are getting your facts from Christian Wragg who stole 20K from a south Florida Company. The police report is on file with the Hollywood Police. You need to check your facts before writing about them. If Christian Wragg is a friend of your then you need some new friend. Check out the article on him where he is named in a 30 million dollar Poniz deal.

    • Mike,

      Which fact cited is untrue? I could not find anything in the review not referenced.

      I’ve never heard of Christian Wragg. Was he associated with Whitestar Financial Services?


    • First of all, I have not now and never have been named in any ponzi scheme. This person may have the same last name as me, but he is not the same person! That is easily verifiable by any person, even these dishonest people that are trying to say that I am responsible for anything that anybody has ever done with the same last name as mine. If they were honest then they would operate honestly. The truth always wins and I have NOTHING to be concerned with.

      As far as me stealing $20k, I had an employee contract which dictates 4 payments of 5k each over 2 months. If they were not happy with the my performance, they could of at any time fired me and not paid me legally. But to wait until after the fact and then say that I stole $20k is a lie and a total joke! I will send a copy of my employment contract with National Debt Defenders Network to anybody that would like to see it. This police report only exists in their empty minds like everything else they have attempted to make up and publish about me.

      This are really SHADY people running really SHADY companies. Do whatever you can to not get involved with these people in any way!!!


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