Biz4Loans

Initial Business Response /* (1000, 5, 2016/03/16) */
This office has been retained by Daily Investments, the successor in interest to the entity known as Biz LoansMr*** *** has forwarded your correspondence dated March 8, 2016, for replyIt should first be noted that *** *** and her
family are investors in certain brokerage companies who take the investment monies, loan out the monies, and pay a return on the investment after the monies have been loaned to other individualsThese loans are secured with real estate
It is unclear from your letter as to the content of the disagreement of Ms*** relative to Mr*** and the predecessor in interest to Daily InvestmentsThere seems to be a continuum of miscommunications between the parties regarding the factual basis for the dispute which we admit existThe nature of the disputes is the amount owed on the investment and a claim by Ms*** and other entities for which she is an agent on the issue of lost opportunity costsThere are nine investments which are subject to resolutionOver the last several days, I have served as an intermediary between the parties with the intention of resolving the disputes to the extent they can be resolvedCertain matters including borrowers in bankruptcy have clouded the issues to such an extent that only resolution through the bankruptcy court process will there ever be a complete and total settlementInvestment money was used to lend to a farmer in northern CaliforniaThe farmer, after just a few months, filed bankruptcy on the secured loanThe filing of the bankruptcy, however, was to attempt to put a plan in effect which delays by several years the repaymentThe interest of the loan advanced to the farmer has been the subject of a plan of reduction of the interestThe Bankruptcy Court is dealing with the issuesMrs*** or her principal have been given notice that she must file an objection to the confirmation of the bankruptcy plan with respect to the farmer loanMy clients take issue with the original complaint sent to them on March 8, All of the monies that were received from the investors have been lent outThe loans are in various stages of repayment, returning interest to the investor (***) anywhere from 14% to 19%The loans are fully securedThere have been no lossesThe allegation that all the loans were due in November is incorrectThe statement that "we have been chasing them for three months for return of our monies" is also incorrectIt should be noted that *** *** has taken no less than checks totaling in excess of $17,on investments for which repayment is not due until June
With respect to the allegation that these monies were taken from a "senior citizen's retirement funds," it should be noted that the fund is actually an investment fund set up by the mother of *** *** for the purpose of investing in various high rate of return investments
Two of the nine loans have been taken over by *** ***A copy of the correspondence directed to Mr& Mrs*** indicate the loan process transfers
The problem with this situation is that each allegation by Ms*** needs to be investigated for truthfulness and veracityEach separate investment has been the subject of interest repaymentThere now exists a difference in each side's position of $9,The *** have offered to "split it down the middle to resolve all disputes." Ms*** has declined this proposal
Mr& Mrs*** take great umbrage with the allegations and the attempt to use the business entity such as the Revdex.com to collect money which has in fact been *** is not payee of the investments, but rather the agent for certain investors
Finally, we question the existence of a statue which prohibits my clients from operating a licensed loan businessMs*** never points out what law has been violated
We would prefer to mediate these issues forthwith before expensive, needless litigation commences
Initial Consumer Rebuttal /* (3000, 7, 2016/03/16) */
(The consumer indicated he/she DID NOT accept the response from the business.)
The company hired a lawyer to answer this Revdex.com complaintThe lawyer wrote a long and confusing responseWe don't understand it and it is not a resolution to this complaintHere are the facts:
1) The company took monies telling us they would be invested in real properties - homesThe investments were never made and the monies were not returned back
2) The licensed brokers at this business have refused to return calls for monthsOnly weeks ago they hired an attorney to straighten out this mess, after they were threatened with a BRE complaintThe matter is still outstanding, therefore this Revdex.com complaint is not resolved
2) The business is making car title loans without a CA finance lender's license
3) The brokers at this company did not have an agreement with us to service the loans made to various their various borrowers/customers, yet they have been collecting payments (supposedly) on our behalfOften times those payments did not make it back to usThe book keeping practices are not professional, to say the leastOur understanding is that this is a violation of the real estate law for brokers
4) The business has taken roughly 450,in monies from investors and has not repaid the principal due to the investors when they were due back as per the signed notes starting back in Nov of The monies remain outstanding as of this dateThe business has also short changed us on interest payments
5) The business did not use an escrow account to keep their personal funds separated from investor fundsThe real estate brokers, one with an NMLS license, commingled fundsWe were told this is a violation of laws concerning broker conduct in CA
6) Their lawyer has been retained to work it out with us, but so far the offers are shorting us of moneyThe business is keeping money that is not rightfully theirs, unjustly enriching themselves
7) We have provided very detailed and specific calculations of the monies owed to usThe business has not done the same (yet)
Final Consumer Response /* (4200, 12, 2016/04/06) */
(The consumer indicated he/she DID NOT accept the response from the business.)
The response is full of lies by the lawyerThe lawyer is not even supposed to be representing them as he has a professional conflict going on (since he represented us in the past)
I am an investor, as is my motherThe settlement offers they have made are shorting us significantly out of interest and principal payments and are not acceptable
They have refused to provide any rationale for their calculations
The notes were due almost months ago and they have not returned the moniesWhatever checks were cashed made up for back payments that they were super super late onAs of now they are not paying interest as per the agreements nor returning the principals to the tune of $465,000+They are making up lies about just about everything under the sun to avoid returning the money and deflect the issue
THE MONEY NEEDS TO BE RETURNED IMMEDIATELY
Final Business Response /* (4000, 10, 2016/04/06) */
This office represents *** *** and *** *** as well as *** ***The *** and Mr*** own an entity known as Daily Investments which is a successor in interest to the Biz Loans CompanyOn behalf of Daily Investments, we responded on March 16, to Revdex.com
There was response made to our response to which this letter shall reply
As indicated, Ms*** is not an investorMs*** is related to one individual investor her (brother) while a trust has served as the investor in dealing with Ms***'s mother's moneyMs*** does not have a legal interest in any of the investments
In our initial reply, we noted that Ms*** received checks for interest payments on certain loans which were in fact the trust propertyShe cashed nearly $18,of the checksA portion of these funds were not due until June There does not seem to be a response to the monies taken by Ms***
In her latest response to Revdex.com she says that the monies were supposed to be invested in real property but were notThis is falseShe has not identified any investment which was not the subject of a secured real estate loanNumber two the licensed real estate brokers, the *** and *** *** have in fact responded to every request made by Ms*** until such time as she hired an attorneySubsequent to her hiring an attorney, responses were not made to her because of her having legal representationAfter she terminated at least two attorneys, she now requests that we deal with herAgain, she is not a legal representative nor she is authorized to act on any of the investorsUntil such time as she produces evidence of authority and/or agency, we can not deal with her
We requested that she specify which California statute was not the subject of compliance by my clientsAs of this date she has failed to do soIn our initial correspondence we indicated that she had taken two loans on her ownShe has not responded to the fact that she took over the loansWith respect to Ms***'s allegation that $450,in money from investors had been taken and not repaid, it should be noted that a number of these loans are not due to be repaid and that interest payments have been forthcomingShe does not identify the loans of which she speaks
Ms*** has attempted to make a police report with the Fresno Police Department which was declinedWe have responded to her Revdex.com allegations and she has not specified and set forth in detail exactly the violations against statute by my clientsShe made a BRE complaint which was not the subject of acceptance by BRE
It seems that Ms***'s approach to trying to resolve these disputes is to get other people involved and creating issues were none exist
We will work with Ms*** after the agency/authority issues are resolvedWe will return the money when the notes are due together with the appropriate amount of interest payments as for contract
The fire is being fanned by disparaging slanderous remarks by Ms*** to not only business entities but to personal friends of my clientsMy clients are reluctant to deal Ms*** until such time as activity ceasesMy clients want to settle
Shoule you have any further questions, please do not hesitate to contact me