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Home > Debt Relief Industry > I Suspect Debt Aid Processing Didn’t Realize What They Posted

I Suspect Debt Aid Processing Didn’t Realize What They Posted

A reader brought the following page to my attention on the Debt Aid Processing website. They wanted to know if the FTC approved back end debt settlement companies. Huh?

And sure enough, the page they directed me to on the Debt Aid Processing website does say “FTC approved back end company.”

I’m going to have to give the company the benefit of the doubt on this and go with they didn’t know what the hell they were posting. The FTC does not approve of certify any companies.

Debt Aid Processing says it “is widely recognized as one of the largest debt settlement processing companies in the industry.” – Source. Somehow I doubt that.

They have this calculator on their site called the commission calculator. The calculators says that if enroll 20 clients with an average of $40,000 in debt your total commission earned will be $120,000. That’s 15 percent of enrolled debt?

That calculator sure makes it seem that all you have to do is enroll twenty people and just sit back and let the money roll in.

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The contact us page says they are located at 18201 Von Karman Ave., Suite 680, Irvine, CA 92612. According to server records the following websites are hosted on this server:

  • chapter7bankruptcycenter.com
  • consultlaw-group.com
  • consumerlegalcenter.org
  • debtrealty.com
  • debtsettlementbackendprocessing.com
  • debtsettlementprocessors.com
  • irvinebankruptcycenter.com
  • socalbkgroup.com

The State of California says that Debt Aid Processing was incorporated on 12-22-2009 and is affiliated with Saeid Yarrandi. The domain name was originally registered by a Simon Yarandi.

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Lauren Suarez

    Steve, how do you explain the multiple allegations from several different parties claiming that you are a criminal, pedophile and rapist?

    Seems strange that this sort of thing is plastered all over the internet? 

    Is it true?

    http://getoutofdebt.pissedconsumer.com/steve-rhode-getoutofdebt-org-is-a-liar-journalist-20110823257191.html 

    • http://GetOutOfDebt.org Steve Rhode
      • Insider

        I love this site. As for Lauren (probably x-greenleaf
        owners), you probably work for and/or still run the debt aid company and your
        office will be raided soon enough. Don’t worry, insiders at the AG office have
        told me that their desks have cleared up and they are now looking to clean up
        shop. Sleep well.

  • ftc approved legal mosel.

    How could a company be so careless to post their that they are approved by the FTC? I don’t think for one second that is up by mistake. People don’t make mistakes like that. It would be interesting to see what the ftc thinks of this company being an approved form of theirs. Just plain reckless if you ask me. I’m surprised the are not approved by the cfpb, white house, ca attorney General, Obama himself.

  • GW

    It appears that Greenleaf Legal Services, a mortgage-modification company based in Mission Viejo, has shut down, leaving hundreds of homeowners in jeopardy of losing their homes. Many of the company’s offices are vacant, and clients have been unable to reach anybody at the company, some who have been trying for several months. Some employees of the company say they haven’t been paid in weeks. They are speaking up anonymously because they plan to notify authorities of their concerns.
    Company insiders say that since employees are missing their paychecks, they are refusing to work on clients’ files. They claim that in the beginning, Greenleaf was actually helping people, and some early clients of the company were satisfied and that Greenleaf was able to reduce their loans. Clients were charged an upfront fee of $1,500 to $3,500, and many claim to have seen no results at all. Many of the clients had to borrow the upfront fee and are demanding that the money be returned. One investor went to Greenleaf and paid $13,500 to Greenleaf to modify 16 loans. Only two of the loans have been modified and several of his properties have been foreclosed while the man was trying to get in contact with Greenleaf representatives.
    Unbeknownst to Greenleaf clients, the company was issued an “order to desist and refrain” from performing loan modifications because the company was not licensed by the Department of Real Estate. The company’s website falsely claims being “approve” by the Department. Greenleaf failed to register with the department to perform modifications or to post the $100,000 bond required by law. Simon Yarandi, one of the company’s listed owners, claims that his partners took of with all the money. Just last week, the state issued a second “desist and refrain” order, this time including Yarandi and his other company, Refisoup.com.
    Calls and letters to the company’s other listed owners have not been returned. State officials say that, unfortunately, those who paid Greenleaf and saw no results are likely out of luck. If the money is really gone, as many as 300 people who consulted with Greenleaf may lose their homes, according to persons familiar with Greenleaf. A law passed in October now prohibits companies from requiring upfront fees for performing loan modifications, a law that was several months too late to help homeowners who placed their trust in Greenleaf Legal Services.Ron Parks has been buying Marin real estate for 27 years. Year after year he is one of Marin’s top real estate agents. Ron specializes in all areas of Marin County, including Belvedere and Mill Valley.Article Source: http://EzineArticles.com/?expert=Ron_S_Parks

    • GW

      It looks as if the owner of this firm also owned the firm above, Greenleaf which scammed hundred of consumers with a loan mod front. They also received a C/D from California for false representations.
      http://www.dre.ca.gov/pdf_docs/loanmod_drs/H36357LA.pdf

      Looks like same level of integrity, same deceptive marketing and same overall scam to screw consumers.

      I love the FTC approved statement. It fits well on their website.

  • Mthurmon1968

    Nice

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