Consumer Statement:
I worked with Thomassen Law Group in 2011-2013. This is a disreputable firm. In my dismissal letter to them, I cited language from California Law regarding deceptive trade practices. Thomassen accepted my retainer and ostensibly agreed to perform service. My principal creditor was and is Chase Bank. But over a year before my contract with Thomassen, Chase established a policy that they would not negotiate with third parties. So Thomassen accepted my retainer under false pretense, knowing that could not perform an agreed service.
Consumer Action Taken:
When I became aware of the scab, I contact Thomassen by mail. I speculate that Thomassen saw that I researched the issue, understood California statute, and could see that I knew their actions were illegal. I received a full refund of all amounts remitted, which included their retainer (which their sign up contract said was never refundable).
My unresolved issue related to something that dollar-wise is only worth pennies.
Their contract said they were establishing an escrow account for my payments. That was a lie. All my payments landed in their general account. The account they use to operate the company. They are vulnerable if anyone is intent on disrupting their business. They illegally comingled company assets with client payments that were legally required to be segregated into dedicated bank accounts on the behalf of the client.
Date This Problem Happened: April 14, 2011
State You Live in: New Jersey
Race/Ethnicity:
Age Range: 21-35
Total Amount of Fee Paid: $2,074
Company Name: Thomassen Law Group
Company Address:
402 W Broadway
Suite 400
San Diego, CA 92101
Company Telephone Number:
Website of Company: thomassenlaw.com
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Dear Mr Consumer,
Please know that I am not part of Thomassen law or an affiliate. I read your post and I felt compelled to respond for a few reasons. I will start by pointing out that once a consumer posts a defamatory review about a company it causes a great deal of problems and considerable financial loss. Libel is also illegal and you can be sued for such irresponsible behavior.
I understand the feeling of being duped and taken advantage of. What’s worse is when people allow their frustration and anger to take control without due diligence to confirm their dilemma and take action such as what you did here and later realize you were duped but not by the party you just dragged through the mud.
I am a debt negotiator in the business for 12 years and I settle directly with Chase on a daily basis. Chase has gone as far as sending letters to their customers warning about debt settlement companies and advise (lie) that Chase banks policy is not to work with 3rd parties which is nothing short of doo doo. It’s all just a ploy to keep you paying them. The banks hate us because of people like me. In my career I have saved 100’s of millions of dollars for consumers.
Now, it does appear this company is accepting up front fees which a no-no so perhaps that issue may be a bone to chew but as for current complaint, it’s without merit and I would see if this complaint can be removed.
Have a nice day!
Friendly negotiator.
James L,
Thanks for your considered reply. I’m sure you are doing as you say, not affiliated with Thomassen, etc etc. I’m thankful for you and your clients that you have saved them, as you say, hundreds of millions of dollars.
If you are implying that my comments are libelous, that’s disingenuous. I am speaking from my experience. I am entitled to do so. And it would not trouble me particularly if a company who dealt with a consumer in a disreputable way had to weather some comments by a consumer that cost them some revenue. My comments are true. They are not libelous. Consumers warn other consumers about what they consider to be unfair trade practices by retailers.
You are being dismissive of me, implying I was ignorant, and did not perform due diligence. Maybe that’s true. Let’s look at this scenario, which you are familiar with.
In order to negotiate with a creditor, you have to stop paying them. As long as you make minimum payments, you are a customer in good standing and neither the financial institution nor their shareholders has incentive to change the legal signed agreement that the consumer is bound to. Why would they want to negotiate a settlement with a customer who is paying his/her bill and fulfilling his/her contractual responsibilities. The consumer has to break the agreement to open the discussion regarding negotiations.
And while the consumer is not paying, interest and late charges pile up. So in the end, the amount the consumer is trying to get the financial institution to make a settlement on….is much larger than it was.
And that will go on for some time. As amounts are earmarked for repayment are escrowed, it will take time to build to a point where there is an escrow balance that the financial institution finds worth discussing as a settlement payment. and all that time…interest and fees were being added. In your experience, does the financial institution, say, Chase, just stop posting interest and late fees while they are not being paid?
So finally, a settlement is entered into and reached. Maybe it’s a wonderful settlement. 50 cents on the dollar. 50 cents on many more dollars than were originally owed. Then the negotiator takes their cut, let’s say 30% of what they “saved” you.
And then, at the end of the year, the financial institution sends you a 1099-MISC, because the forgiven amount is taxable income to you.
What did the consumer get. A zero balance due, and a ruined credit rating. What did the financial institution get. Some portion of what they were legally owed, which they might not otherwise have gotten. What did the negotiator get. A huge windfall for doing almost nothing.
What I learned is, companies like Chase are very willing to negotiate and reach terms with consumers who are honest and forthright, the consumer just needs to know how to go about it. And in the end the lender can do far more to help the consumer than a third party. Chase and other lenders consider the third parties to be vultures. I don’t of course.
How am I doing on due diligence. It is not my complaint that lacks merit. If it lacked merit, Thomassen would never have refunded their retainer, which the contract stated clearly was non-refundable under any circumstance. And we would have been in court. I believe I would have prevailed. They refunded it, in my opinion, because they may have understood that their actions may have been illegal, which is the position I took.
It is not my complaint that lacks merit, it is your industry that lacks integrity. Not you personally of course.