The State of Wisconsin is reporting a recent action against Everest Debt Solutions and FDN Solutions. I must disclose that Everest Debt Solutions has a unique place in my experience in reporting on the debt relief industry.
Without a doubt, Everest Debt Solutions is in the top three of the strangest thread of responses a company has made in response to a consumer question posted about them on the GetOutOfDebt.org site.
According to the State of Wisconsin:
Respondent was properly served with a Notice of Hearing and Notice of Prehearing Conference (“Notice”) issued by the division. Pursuant to this Notice, respondent was directed to provide an answer, and appear at a preheating conference and hearing.
Respondent failed to provide an answer to the Notice, and to appear at the preheating conference and hearing.
By its failure to answer the Notice and appear at the hearing, respondent is in default. As a result of the default, respondent has admitted to the matters asserted and the violations set forth in the Notice.
As a result the State of Wisconsin fined Everest Debt Solutions and FDN Solutions, $10,000. They are also specifically directed to refund a specific Wisconsin client $4,081.39 for debt settlement services. Additionally, the companies are directed to refund any Wisconsin client it ever provided or attempted to provide debt adjustment services to. These full refunds are to be delivered to the Wisconsin Department of Financial Institutions, Division of Banking, by December 14, 2011.
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