Should We Go With Resolvo to Eliminate Our Debt or are They a Scam?

Question:

Dear Steve,

I received a call from Resolvo, who put our debt into a computer with a soft pull.

The debt is 18,702.16 and was set up for $594.19 for 16 months. The individual we spoke with was at 213-652-3812 x124. She mentioned they were rated A+ with the Better Business Bureau.

Please help, as we have been scammed so much over the past few years that we are scared. We live in Kentucky, and the was a program available in our state. Very quick to get us into the program.

1. Are they real and legitimate, or are we being scammed again?

PAC

Answer:

Dear PAC,

I was not familiar with Resolvo, so I first went and looked at their website.

They are sending messages that resemble debt settlement marketing but pitching a debt validation strategy.

I’m not going to use any magic process to look at Resolvo. Instead, you can evaluate the company yourself using my free guides below.

  1. The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
  2. 10 Must Do Steps to Find the Best Counseling or Settlement Company for You
  3. How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off

Let’s Start Looking at Resolvo

The company says they are located at 8484 Wilshire Blvd. #515 Beverly Hills, CA 90211.

That appears to be a virtual office space at FGS Business Center. FGS offers mail services and forwarding, virtual assistants, phone answering and forwarding, and cubical rentals. I would ask your Resolvo contacts where they are physically working and where your sensitive information is physically stored.

Since the company claims to be located in California, I searched the business records in California, and it did not return any information under the company name Resolvo.

Should We Go With Resolvo to Eliminate Our Debt?

The Resolvo site terms and conditions say the company name is Universal Promote, Inc.

The State of California has a listing for Universal Promote, Inc but not at the Resolvo address.

Should We Go With Resolvo to Eliminate Our Debt?

You said you are located in Kentucky. Unfortunately, the State of Kentucky has no company authorized to do business under Resolvo or Universal Promote.

Should We Go With Resolvo to Eliminate Our Debt?

What Resolvo Says They Really Do

The site terms and conditions contain a very interesting section under the heading of Description of Services.

It says, “We make various services available on this site including, but not limited to software services (“Services”) that helps third-party companies (“Companies” or “Company”) create, publish and promote marketing promotions (“Marketing Promotions”) online. If and when you are making a purchase with us, upon accepting our Terms of Service we ask you to digitally sign your name and/or formally accept our Terms of Service to show that:

  1. You understand your chosen subscription, and you agree to Resolvo’s Terms of Service and Privacy Policy regarding the subscription.
  2. If you are on a lead generation package, you have authorized Resolvo to charge your credit card on file for your chosen subscription and any authorized Facebook advertising and/or auto-advertising on your behalf.
  3. For clients on a monthly subscription, due the nature of Facebook advertising and lead generation which takes time to generate results, you understand this as we do not guarantee immediate results.
  4. For clients on a Semi-Annual or Annual agreement, You understand that the service will not automatically stop at the end of the term and a written request must be received if you do not wish to auto-renew for another term.
  5. For lead generation campaigns, you understand that these leads are being generated on Facebook and the performance of your leads are subject to Facebook not changing their platform. There are times when Facebook makes changes to it’s platform that are beyond our control and may affect your campaign results. When this happens, we will extend your cycle so that you will not be billed for the days where we ads were not running on Facebook. This does not mean that you will receive a refund. If the money back guarantee requirement has not been met, you will receive a refund on our services – not on the budget that was spent on your ad campaign.
  6. For all written requests, You understand that in order to discontinue your next applicable bill, you agree to email [email protected] a minimum of 5 days before your bill date for the upcoming charge to not apply. If your written request arrives inside this window, your credit card will be charged and your account will then be set to close on the next bill date based on your subscription billing cycle.
  7. You understand that there are NO REFUNDS for any aspect of Resolvo’s services and ALL SALES ARE FINAL.”

To me, that reads as if Resolvo is selling lead generation services.

The Testimonials Become Very Confusing

Given that Resolvo appears to say they are a lead generation company in their site terms, how do their client testimonials make any sense? They are either a debt relief provider at a virtual address or don’t have debt relief clients as a lead generator.

The service is confusing. If they are sending debt validation letters to your creditors and not making payments on your debts, how is that monthly payment calculated?

There is a lot of missing information on their website. For example, what has been their success rate with past clients, how many clients obtain those results, and more.

The FTC guide Debt Relief Services & the Telemarketing Sales Rule: A Guide for Business contains many examples of the information you are entitled to, and that should be provided in writing based on factual data.

If Resolvo is just a lead generation company, the FTC business guide still applies to them. As the Federal Trade Commission says, “Even if you don’t directly sell or provide debt relief services, you may have obligations under the new Rule. Specifically, it’s illegal to provide “substantial assistance” to another company if you know they’re violating the Rule or if you remain deliberately ignorant of their actions. What amounts to substantial assistance depends on the facts. In the context of debt relief services, substantial assistance may include:

  • obtaining and selling leads – the contact information of potential customers – to other companies;
  • helping a debt relief company with its back-room operations, for example, by
  • reviewing customer files, processing customers’ payments or contacting customers’ creditors once they’ve signed up; or
  • offering dedicated accounts to customers where they set aside the debt relief provider’s fees and funds for payments to creditors or debt collectors.

If you work with debt relief companies, review their policies, procedures, and operations to make sure they’re complying with the Rule. Willful ignorance isn’t a defense.”

If Resolvo sales representatives are aiding in breaking the rules, they might be exposing themselves to personal liability. I’ve seen cases where sales representatives at debt relief companies have been named in lawsuits by the CFPB and FTC. The sales reps might not be aware of the quicksand they are wading in if it doesn’t add up.

BBB Rating

I could not find a BBB rating for Resolvo, but there is one for Universal Promote.

Universal Promote says its business is digital marketing and has both an A+ rating and a poor customer review score.

Should We Go With Resolvo to Eliminate Our Debt?

I’ve Seen Enough

You are more than welcome to keep digging into the company, services, claims, and results, but I’ve seen enough to walk away.

I can’t say the company is a scam because that is such a loaded word and means different things to different people.

I can say that there are many questions that I laid out in my research guides above that appear unanswered. So that sets off red flags for me.

Based on what I’ve seen on their public website, the description of services is odd, the services Resolvo delivers are not transparent, and their video and promotion of their debt product don’t make a lot of sense and are confusing given they say they are a lead generation company.

You may decide Resolvo is the company you want to hire, but I think you should ask a lot more questions and ask for the answers in writing since what a salesperson says is most likely not what the client agreement states.

I want you to be a smart consumer.

Sincerly,


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Damon Day - Pro Debt Coach

Steve Rhode

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