An amazing reader sent in a new debt relief mailer through my I Buy Junk Mail program.
Recently I wrote about a company named 321Loans. A different reader had sent in a contract for me to review. If you read my article, here, you will see there were some questions raised that the company has not responded to.
One of the issues was if the offer for a 321Loans, loan, was actually a loan extended to consumers. From the mailer the reader sent it I would think an average consumer might believe the company was actually making loans, rather than selling debt relief services and lending the services to themselves or related companies.
So let’s look at the alleged mailer.
I believe this was the front of the mailer. As you can see it says the pre-approval is guaranteed but when we get down to the fine print they actually say “The rates displayed do not represent a loan approval or commitment to lend.” So I guess all you are pre-approved for is getting the mailer.
The front of the mailer mentions a web address, 321loans.info which is registered to:
11305 Tahoe Street
Auburn, California 95602
MarkSys says they are direct mailers. So it appears while consumers might be giving up their information to someone they believe to be 321Loans, the domain isn’t even owned by 321Loans.
The domain was registered on October 15, 2015.
It would be interesting to know if MarkSYS knew 321Loans is not a registered lender in Florida nor in the state where the consumer received this mailer from MarkSYS.
The inside text sure makes it sound as if the consumer would actually get a loan. But as far as I’m aware the company never did payoff debts the consumer owed and extend an actually loan to consumers.
The address on this part of the mailer says the company address is 10 Fairway Drive, Deerfield Beach, FL. That actually appears to be the address for Fairway Executive Suites, a virtual mail drop. – Source
It is also the same address used by American Credit Shield, another of the alleged related companies. – Source
The fine print finally says, “The special purpose loan guarantees your enrollment into debt dismissal program.” So the only thing you are guaranteed is to be enrolled into their program? Hardly what the average person would call a loan guarantee.
How can “Loan pricing” be locked in by a loan officer when there is no loan to the consumer?
Back of what appears to be a self-mailer.
In light of other recent lawsuits against companies for sending out debt relief mailers claiming to know data from consumer credit reports, it would be interesting to know how MarkSYS got the mailing list for this direct mail piece. The consumer who sent in this mailer said, “Neither this company [321Loans], nor anyone affiliated with its management (at least in the state of Florida), appears as an end-user (promotional or otherwise) on any of my Bureau reports.”
I’ll email MarkSYS and ask them to comment on this article and/or to correct any information they find to be in error.
Email I sent to Ryan:
A reader sent in a mailer that appears to have some connection to MarkSYS, at least you own the associated domain name in the mailer.
The reader who sent this in was curious how you obtained his credit bureau information to send the mailer to them. It’s a good question in light of recent FCRA suits for access to credit reports for similar information.
The mailer raised a good question, did MarkSYS do any verification if 321Loans/321Financial is a registered lender?
Recently I wrote an article about 321Loans and I’ve emailed the company multiple times but they have not responded to help provide any answer to questions raised in the article. I guess that article triggered someone to send in a mailer they received.
I always welcome any response statement to be published with any article and I would encourage you to correct anything in the article you might find to be in error. Just use this form. https://getoutofdebt.org/report-an-error/
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.
Want to see more mailers I’ve reviewed as part of this program? Click Here.