An amazing reader sent in a new debt relief mailer through my I Buy Junk Mail program.
I’ve covered Rescue One mailers before and it elicited an alleged former employee to speak out. See this link. My previous coverage even wound up with a rather dubious event, the appearance that Rescue One was potentially involved, directly or indirectly, in paying people to lie to Google about this site.
It appears Rescue One mailers are still going out that promise loans to consumers, just like before. It also appears they have now registered for a California Finance Lenders License 603K254 and do somewhat revel that information on the back of the mailer. They just don’t say what the license number actually is.
But the person who sent in this mailer does not live in California and Rescue One does not list a lender license in any other state. Does this mean they are not licensed to lend in other states? I checked with the state the consumer who received this mailer lives in and they were not licensed.
At least one cached page from October 20, 2014 links this license number to Rescue One and says “All loans made by WebBank, a Utah-chartered Industrial Bank, Member FDIC. Your actual rate depends upon credit score, loan amount, loan term, and credit usage & history. California Finance Lenders License 603K254.” – Source
The claims made before is Rescue One was also pitching debt settlement services to people who received Rescue One mailers.
As you can see, a reasonable person would assume this offer is for a consolidation loan, “Consolidate to lower interest,” and they have been “pre-selected for a personal loan.”
Rescue One Financial Mailer – Front
Rescue One Financial Mailer – Back
Rescue One Lending, Inc. seems to disclose a number of pertinent details about the offer on the back.
Here is what I learned:
- They appear to purchase mailing lists from the credit bureaus.
- While they say Rescue One Financial is a lender, they also say “This offer is for an unsecured Personal loan referred by Rescue One Financial, Inc. Seems a bit conflicting.
- “For details, questions, or concerns regarding your requested loan, please contact your lender directly.” But who is/are the lenders?
- “Interest rates will vary and are based on lender terms. Ranges from 6.73% – 35.36%.” It would be interesting to know the interest rate of the average person who actually receives a loan through this offer. Are they on the higher end? And when it comes to interest rates, just looking at another unsecured lender, like LendingClub.com, their interest rates range from 6.03% to 26.06%, or Prosper.com which range from 6.05% to 31.25%. The Rescue One offer does not appear to disclose what other fees may be generated with the loan.
- The license number is disclosed on the bottom but does not say what it is.
Look, I’m not saying don’t use the Rescue One services. I’m just pointing out bits that I found interesting and that might be worth clarifying with them if you are interested in using the services.
These should be simple questions for them.
If you want a more comprehensive guide on how to checkout a business then look at these articles:
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off
As Sy Syms used to say, “An educated consumer is our best customer.” And certainly Rescue One would agree with that statement.
This offer was able to be reviewed because a kind reader sent it in via my I Buy Junk Mail program.
If you receive a credit or debt relief offer in the mail, do some good and let me pay you for it. Click here.
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