I was contacted by a company LGR Consulting in NY. They were offering me a loan to specifically consolidate my credit card debt. For some odd reason I provided my credit card information. They did not approve they loan as I expected but did direct me to a law firm Pinnacle Law Group. They then wanted to do a “discloseure call” where I provided more information. I requested some reference material to review prior to the call but was told that they do not send it out until the actual call so that it can be reviewed in detail.
I was told that the preliminary numbers showed that I could be out of debt in 32 to 36 months with the actual payoff being 28% of the current outstanding balance. Also there would be a $10,000 fee that the firm would make and that it was factored into the numbers. Something did not add up so I calculated the numbers line by line. Still does not add up
My search was prompted by your review of Consult America.
Once I looked at the sites it was clear that LGR, Consult USA and Consult America were all the same. LGR and Consult USA were identical except the name change.
My worst mistake was to listen and stop payment to creditors trusting that the firm would be my buffer.
Have you come across LGR or Pinacle Law Group? Is this a scam that should be listed?
NYS Department of State
Division of Corporations
The information contained in this database is current through January 7, 2013.
Selected Entity Name: LGR CONSULTANTS, INC.
Selected Entity Status Information
Current Entity Name: LGR CONSULTANTS, INC.
DOS ID #: 1894240
Initial DOS Filing Date: FEBRUARY 13, 1995
County: NEW YORK
Jurisdiction: NEW YORK
Entity Type: DOMESTIC BUSINESS CORPORATION
Current Entity Status: ACTIVE
Selected Entity Address Information
DOS Process (Address to which DOS will mail process if accepted on behalf of the entity)
LAURA G ROSS
770 PARK AVE
NEW YORK, NEW YORK, 10021
What you describe sounds like the same approach taken by another company, Rescue One. See Alleged Former Employee Speaks Out About Rescue One Financial Loan Offers.
From what you describe it sounds like you were baited with a loan and then sold an advance fee debt settlement program. Were you looking for a debt settlement program? Do you even have financial problems?
You’ve started to do some homework on the companies and I applaud your resourcefulness.
I would recommend that anyone considering using such a company should read the following fee guides.
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
Please post your responses and follow-up messages to me on this in the comments section below.