Question: Dear Steve, I had already contracted with them before the FTC probe and subsequent shutdown. I was told their Financial Division would stay open. I thought I was/am an Arete Customer. Instead, they have been taking my payment out. I was supposed to get a call for account updates, but they have not called. …
The court just recorded an apparent final disposition in the Arete Financial Freedom lawsuit. The parties included under the Stipulated Order for Permanent Injunction and Monetary Judgment include Arete Financial Group, Arete Financial Freedom, CBC Conglomerate, 1file.org, Diamond Choice Inc., Interest Rate Solutions, J&L Enterprise, Premier Solutions Servicing, La Casa Bonita Investments, Inc., La Casa …
The closure of American Financial Support Services by the FTC has been going on for a while now. The court-appointed Receiver has just submitted another interim report on activities. Most notably was this section: “The Receiver determined that all of the vehicles in Receivership Entities’ names were leased as opposed to owned. The Court authorized …
American Financial Support Services was shutdown for bad acts by the Federal Trade Commission. They were raided as a result of student loan assistance services they were selling. The allegations made were disturbing but consumers appear to be getting kicked twice. The court-appointed receiver in the case just announced the following: “The Receiver’s office received …
The operators of a student loan debt relief scheme will pay at least $835,000 to settle Federal Trade Commission allegations that they charged illegal upfront fees and made false promises to consumers struggling with student loan debt. The settlement resolves FTC litigation against Carey G. Howe, Anna C. Howe, Shunmin Hsu, Ruddy Palacios, and Oliver …
Question: Dear Steve, It has just been brought to my attention that this organization that popped up is run by Loc Phu AKA Oliver Pomazi of Arete Financial demise. It looks like this is “fronted” by Samson Ly, who is a lifelong friend of Loc Phu’s. Answer: I have no way to know if the …
While Arete Financial Freedom had a temporary victory yesterday and will be able to begin servicing previous consumer accounts again, employees will still have to search for back pay due. The Receiver has posted: “As you may know, the Court issued a Temporary Restraining Order and Preliminary Injunction, which included an asset freeze and appointment …
Arete Financial Freedom was targeted by the Federal Trade Commission (FTC), a consumer watchdog agency, because of alleged abuses in their student loan assistance services. The court-appointed Receiver was attempting to sell off the settlement side of their business and the Arete position was apparently that they knew they blew it with their student loan …
Arete Financial Freedom, and others named, were sued by the Federal Trade Commission (FTC) over alleged student loan assistance service issues. The raid and court-ordered takeover of the businesses run by the parties halted their settlement business. Arete Financial Freedom objected to the loss of their settlement business which they claimed was being run better …
The court-appointed Receiver in the case against Arete Financial Freedom by the Federal Trade Commission (FTC) has hit a roadblock. The Receiver moved to sell the debt settlement business ASAP to prevent further harm to consumers. See this post. The Receiver asked the court for permission to sell the 7,700+ settlement accounts to New Era …