Faske's Jewelry

Mr. [redacted] contacted us on August 10th 2013 looking for assistance with past due bus[redacted]s debt owed by his company [redacted]. Mr. [redacted] had several discussions with Scott K[redacted] regarding the services provided by our company and a full explanation...

of the terms of the contract between 8/10 & 8/13. At that point, in his capacity as President of the company, he executed our Debt Restructuring Agreement. Mr. [redacted]s claim that he was pressured to sign the contract right away is simply not true. Mr. [redacted] signed this agreement of his own volition after reviewing the entire contract, including all fees, line by line with one of our employees. At no time during this process, nor during the nearly 6 months that we worked on the account, did Mr. [redacted] raise any objections with the termsof the contract.The cancellation provision was fully explained to Mr. [redacted] prior to the execution of the contract. This account was serviced by 11 employees whoresponded to and/or initiated 50 emails and 36 phone calls. We sent 36 letters to creditors and discussed/presented 73 offers of settlement andprocessed/reviewed 29 faxes.   The funds that were retained upon cancellation are fair and reasonable compensation considering the resources expended working onbehalf of A[redacted] right up until the cancellation request was made.I would also like to add that we were contacted by an attorney representing A[redacted] and Mr. [redacted] nearly 15 months ago with the same request for a refund of funds. Afdter explaining the terms of the contract and illustrating the amount of work that went into servicing the account we never heard back from either the attorney nor Mr. [redacted]. It would appear that Mr. [redacted] used our negotiation efforts and decided to work directly with the creditors in an attempt to avoid paying our fees.Lastly I would like to point out that as per the terms of the contract we are still owed $2,935.78 yet have made no attempt to collect the fee that we are entitled to.

I have to say that I am completely surprised that this client has filed a complaint with the Revdex.com. [redacted] executed a contract on behalf of [redacted] on 3/20/2012. The dollar figures that he states in his complaint are completely wrong. [redacted] funded $73,786.00 between 3/20/2012 and...

10/15/2014 not the $100,000 that he claims. Additionally we remitted $44,352.38 to creditors as per the terms of the settlement agreements that we negotiated on behalf of [redacted] The client ceased funding the program as of 10/15/2014. We attempted to contact the client more than 12 times between October 2014 and April 2015 and never recevied a response. It was at that time that we sent a letter to the client with a demand for fees due to us for the work that we did on behlaf of [redacted] At no time during the more than 2 1/2 years of being a client did [redacted] express any dissatisfaction with the services provided. Prior to the clients breach of contract we had successfully rersolved more than $337,000 of the companies debt resulting in savings in excess of $210,000. Included in this was a debt of $308,368 owed to [redacted] who had the ability to take over the dental practice. We were able to get them to agree to settle for $125,000 payable over 5 years. We made payments on this settlement for 13 months, the final payment coming after the client stopped funding the restructuring. We did everything that we said that we would do and if not for the clients actions all of his debt would have been resolved. At the time of the breach we had resolved $337,000 of the $346,000 in debt that the company had given us to restructure. It is my belief that the client is simply trying to get out of their obligation to pay our company for the work that we performed and is using the Revdex.com to assist them in their attempt to do that.

Mr. [redacted]s response does not do anything to refute the amount of work done on the behalf of Corporate Turnaround for his company. As you can see in the documents att[redacted]ed he executed our bus[redacted]s to bus[redacted]s contract. The copy of the check that is included shows that it it a bus[redacted]s account, not a personal account. I have included 2 of the Creditor Submission Forms, one of which was the office lease for his compan,y and the other is one of the credit cards submitted for restructuring. As you can see from the bottom portion of the form Mr. [redacted] certifies that the debt was incurred for bus[redacted]s purposes. Has Mr. [redacted] told us that the debt that he was subimttting was personal in nature we would not have accepted that debt into our program. I would also like to point out that Mr [redacted]'s response is nearly identical to the letter that we received from his attorney in January 2014. I have also included my response which was referenced in my earlier reply.It would appear that Mr. [redacted] is  attempting to use the Revdex.com to pressure us to refund money to him that his attorney has already realized is not recoverable per contract. We fulfilled the terms of the contract fully. In the interest of resolving this amicably we would be willing to resume work on restructuring the bus[redacted]s debts of A[redacted]. Any fees previosuly earned would be reversed and our negotiation efforts would commence provided that the company commenced funding the program as per the terms of the contraxt.

I am rejecting this response because:
First, and foremost, the Debt Restructuring Agreement (DRA) was signed only by [redacted] Corp. dba [redacted]. Neither me nor my wife executed the agreement and the terms are not enforceable as to the non-signators. Also the payments which were made under the terms of the agreement were made by me personally and related to personal credit card debts, as opposed to corporate debts, which the parties had accumulated. Consequently, unless there is another signed version floating around, the agreement is only effective as to A[redacted]. Effectively, the terms surrounding Corporate Turnaround’s compensation and cancellation policy, which are unconscionable and against public policy, are not enforceable as to Me and my wife.Of pertinent part, the agreement states that CT will earn 35% of any amounts which are considered “inactive debts”. Aside from the fact that A[redacted] has no credit card “debts” (See Creditor Summary – which are all personal debts), the fact that CT will earn 35% of debts which are not pursued by the creditor is unconscionable. CT cannot take credit for a creditor’s independent evaluation of collectability of a debt and decision not to pursue a debtor under these circumstances. Essentially the debt of a creditor that simply decides it is not economical to pursue a debtor (which happens quite frequently), can hardly be deemed an “earned” settlement by CT.  Equally unfair, the agreement states, that if I (i.e. Afarand) cancels the agreement CT will be entitled to 2% of the amount owed to creditors for e[redacted] and full partial month in the program.This is not only an unconscionable penalty, but could also be deemed an illegal interest rate. Effectively under these circumstances the client would owe CT $3200 per month ($160,000 x 2%) from August to date should it cancel the DRA, usurping the entire proceeds the client has on deposit with CT. Lastly, the agreement provides for a full forfeiture of all fees [redacted] has paid under the agreement (which were intended as settlement proceeds and paid in trust) in the event that the client cancels before “submitting” to creditors. Although the term “submit” is not defined, in the agreement, I would imagine that CT has not submitted any creditors at this point in time. Notwithstanding, the law abhors a forfeiture. For CT to keep all of the money paid to date, earmarked by troubled debtors for repayment of their debts, in the event of a cancellation is an illegal and unconscionable forfeiture.  In closing, demand is herein made for refund of all monies you have on deposit from Me. 
Regards,
A.  [redacted]