Future Income Payments

They were very helpful to me. I would recommend to any veteran that need help with financial troubles.

Review: I HAVE A LOAN WITH THIS CO., SINCE- NOVEMBER-12-2012, IN GOOD FAITH, AND I READ THAT THE BUSINESS, HAS BEEN DOING UNFAIR, INTREST, AND FEES ON LOANS, PAST AND PRESENT, I MUST HAVE BEEN MISLED, I DONT LIKE BEING LYED TO FOR SOMEONE ELSES GAIN, .Desired Settlement: I REQUEST, I BE REINBURISED, FOR ALL INTRESTAND FEEES PRETAINING TO MY LOAN I HAVE WITH THEM, AT THIS PRESENT TIME.

Business

Response:

Dear Ms. [redacted], We are in receipt of your letter referencing Complaint ID [redacted] (“Complaint”). A copy is attached for reference. Mr. [redacted] (“Seller”) makes reference to having a loan with us and having read information about us that indicates the company has been charging unfair interest and fees on loans. We do not agree with these statements as we believe there is a misunderstanding of the nature and form of the agreement Mr. [redacted] entered into with us. Please be assured, there was no intent to mislead or provide false information to Mr. [redacted] at any time during the initial process or while the agreement has been in place. Future Income Payments, LLC, previously known as Pensions, Annuities and Settlements, LLC, purchased a set amount of the income stream generated by the Seller’s pension for a current lump-sum payment of cash. This transaction is virtually identical to the sale of a stream of annuity payments from the settlement of a lawsuit in a structured settlement; but, instead of the cash flows coming from an annuity, the Seller utilized their future pension payments. Due to these facts, these transactions are not viewed as loans and do not contain an interest rate factor. There is currently no licensure requirement to perform these types of transactions and they are valid and enforceable. Section 3.10 of the agreement the Seller executed is entitled “Purchase Price Less than Value of Purchased Asset; Fair Consideration,” and explicitly states that “the Purchase Price is significantly less than the sum the Seller would receive during the Term if the Seller chose not to sell the Purchased Asset under the terms of this Agreement.” Additionally, Exhibit C, Disclosure No. 4 to the Agreement is entitled “Acknowledgement of Discount,” and contains the following disclosure in all capitals, bold and underline: “SELLER WILL RECEIVE SUSTANTIALLY LESS MONEY THAN IF SELLER WERE TO RETAIN THE PERIODIC PAYMENTS COMPRISING THE PURCHASED_ASSET.” Disclosure No. 4 then goes on to specifically State the lump sum purchase price the Seller is receiving, the total amount of payments the Seller would have received if they had not sold their future income stream, and the difference between those two amounts. We empathize with Mr. [redacted] and wish to resolve any continued misunderstandings as to the form and nature of the agreement he entered into. We would appreciate Mr. [redacted] letting us know if he would like us to refer this matter to our legal counsel for further follow up. Sincerely,

Review: The company contracted with me to buy a portion of my pension for 10,000 with an interest rate of 160% paid back over 5 years. The company was originally Pensions Investments and Annuities LLC which does not have a license to do commercial loans in the State of Georgia or Florida. The state of Florida has a maximum rate of 18% if an organization has a license to do business in the state. The State of Georgia prohibits such contracts.

I stopped my allotment not knowing who my money was going to and was immediately threatened with legal action by "Skype" Robo Calls which cannot be returned. I contacted the company now known as Future Income Payments and asked for the calls to cease. I further asked for a written report of what I had payed with an expected payout date. They agreed over the phone, but did not stop the calls or send me any of the information requested.

I have contacted the State of Georgia and have began a formal complaint with the Industrial Loan Commissioner and the State of Florida Department of Commerce for consumer protection. The company known as Pensions Investments and Annuities LLC have received a cease and desist order from the State of Washington, an inquiry from the State of New York Attorney Generals Office and now have the State of Georgia and Florida looking into unfair business practices. This company sold me a loan and then reported to the IRS that I had taken out my pension early, causing me to have to pay taxes on the loan.

Consumer

Response:

I would like This company to stop harassing me with phone calls and to conduct their affairs via correspondence with me.

Review: this is a company that provides pension advances I asked for a 3500.00 loan and sent in all the documents requested. I was told that I was approved and it would be funded in 24 to 48 hours. then I was told there was a problem and I had an extremely hard time getting people to return calls. I would call and I can't tell you how many people I spoke with. I was going to pay 437.00 for 60 months which is 26,220 for a 3500.00 loan with a 300.00 set up fee which was deducted from the 3500.00 that was to be deposited in the 24 to 48 hours. I feel like I got the run around their customer service is horrible. obviously people who are willing to pay this ridiculous amount of money for a loan is in need and are taken advantage of with this reidiculous amount to be paid back. But people like myself with bad credit tend to use companies like this. Please beware and check everything out before attempting to do business with this company. It is bad enough to need a loan and pay these extremely high rates, but then to get the run around if more frustrating.Desired Settlement: I don't want anything from this company as I don't feel they are on the up and up. They don't follow up like they say they will

Business

Response:

We apologize for the unpleasant experience and inconvenience we have caused Ms. [redacted].Ms. [redacted] makes reference to her being originally approved for a cash advance and then laterbeing denied. She also makes reference to discussing this matter with several representativesand then having a hard time getting representatives to return her calls after they had indicatedthey would call her. We acknowledge and agree to these facts as stated.We at Future Income Payments, LLC ("FIP") strive to maintain a very positive customerexperience and to provide outstanding customer service. Nevertheless, there are occasionallysituations in which our customers, or potential customers, are not provided the appropriate levelof service. In these cases, as is the case with Ms. [redacted]'s situation, we will review thevarious communications and call logs at our disposal. We will use this information as a tool totrain and develop all our representatives, as well as to improve our overall processes andprocedures. Further, we will work to improve the cu~tomer experience provided by ourrepresentatives in an effort to avoid a recurrence of this unfortunate situation.Sincerely,[redacted], President

Review: I contacted them about a future income loan based on a pension plan. They have repeated changed the requirements and the condition of the offer.

1. First I was told that I needed a bank statement showing one pension deposit, then later that I needed a bank statement showing two deposits from

my pension plan.

2. They advertise themselves as the only company that can "get you funded in as little as 3 business days". Over time they have told be many

different deadlines, including (a) 3 business days; (b) 5 - 10 business days; (c) "a lot more" than 10 business days. These calls are recorded so it

is easy to check the fact that they have changed their story.

3. Initially they told me an electronic bank statement was accepted. I have sent them bank statements showing a single pension deposit in a

variety of formats including PDF, CSV, text, and Excel. They keep asking for a PDF even though I have sent them the PDF at least 3 times so far.

4. They absolutely refuse to describe exactly what kind of eStatement they want.

5. The person I am dealing with ([redacted]), seems to not understand anything about banking. For example, for more than a week she was asking

for a "deposit slip" or "check stub" for the electronic deposit of my pension fund. I tried five or six times to explain that this was an EFT, and that

there was no check, and therefore no check stub or deposit slip.

In summary I would describe this company as guilty of false advertising, deceptive business practices, and misrepresentation.Desired Settlement: They offered me a loan of 6200 (after fees) based on the submission of certain documents. I have submitted all the documents,

and now I want the loan to be processed so that the entier 6200 dollars arrives in my bank account in 3 business days.

Business

Response:

We apologize for any inconvenience we have caused Mr. [redacted]. Mr. [redacted] makesreference to his multiple discussions with representatives regarding the information he needed toprovide to have his application approved and the sometimes conflicting nature of these requests.Mr. [redacted] makes further reference that although we advertise that we can have people fundedin as little as three business days, his funding has been delayed several times. We acknowledgeand agree to these facts as stated, but please understand that there was never any intent to deceiveor misrepresent ourselves to Mr. [redacted].We at Future Income Payments, LLC ("FIP") attempt to provide outstanding customer service toevery person we deal with. This was obviously not the case with Mr. [redacted], who did notreceive the level of service that we want our customers to receive. In this case, we will reviewthe various communications and call logs at our disposal and use this information to providefurther training to all our representatives in order to avoid a recurrence of this unfortunatesituation.Our Company strives to have customers funded as quickly as possible, which can occur withinthree business days from when all the supporting documents are received. This assumes all thedocuments are in good order and there are no items that require further clarification. There is nota contractual stipulation that funding will occur within three business days. Unfortunately, thecase of Mr. [redacted] was one such instance where we were unable to meet our goal, due in partto confusion on our part and clarification needed on some documents received.Based on review of current information, it appears Mr. [redacted] was funded on January 21 ,2015 and should have had access to the funds no later than January 26, 2015. We sincerelyapologize for any inconvenience the delay has caused Mr. [redacted].Sincerely,[redacted] President

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me. I consider this complaint resolved.

Regards,

these people were TOTALLY FREAKING AWESOME!! Barbara, lauren terrell sylvia maria . They all helped me calm down on a daily sometimes hourly basis lol. I would recomend this company to EVERYONE! I always got an answer and compassion from them all. YOU TOTALLY ROCK GUYS¡!!!!!!!!!

This was a positive experience. The workers were there to help you fully with the process. I thank each and everyone.

I Would like to take the time, & tell Cash Advanced Thank you for giving me the cash advance that I needed, now I will be able to take care of paying a few bills & depts. off of my shoulders now. how great full I am. thank you ( Cash Advance ) Rita

Review: I was told on Feb 20, 2015 I would be eligible for a loan from this company. I submitted all the paper work and to date have not received any monies. So I have talked to several people and keep getting the run around. I have decided to not go any further with obtaining a loan from this company. They told me someone would call me , but I stated I just wanted all of my paperwork returned to me and cancel. Plus I found out the interest rate is not what was promised. It is substantially more that what is on the advertisement. So I want all proceedings to stopeDesired Settlement: Not to go any further with the loan process and return all of my pertinent information

Business

Response:

April 4, 2015Ms. [redacted]Re: Complaint ID [redacted]Dear Ms. [redacted],We are in receipt of your letter referencing Complaint ID [redacted] ("Complaint"). A copy isattached for reference.Mr. [redacted] makes reference to his starting the process to receive a cash advance on February 20,2015 and as of Aprill, 2015 he had not been funded. He also makes reference to wanting to cancelthe transaction and to have all the documents returned to him. We acknowledge and agree to thesefacts as stated.We at Future Income Payments, LLC ("FIP") operate as a financial services company providingthe opportunity for holders of pensions, annuities or other reliable cash flow streams ("Sellers") tosell a portion of those cash flows to interested purchasers of the cash flow streams ("Buyers") at adiscotmt, in order to receive a lump sum of cash. In this case, jt appears that the Buyer funds tomatch to his transaction did not become available within the time frame he was quoted during thecontract process. We will review the various communications and call logs at our disposal anduse this information to provide further training to all our representatives in order to avoid arecurrence of this w1fortunate situation. We sincerely apologize to Mr. [redacted] for not beingclearer in our communications as to what was causing the delay and to provide a more accmateestimate of when his funding would occur.In addition, Mr. [redacted] has requested that his paperwork be returned to him. All documentsreceived from the Seller is done so electronically through email or fax. We receive no originaldocuments from the Seller. In order to honor Mr. [redacted]'s request, we have deleted all electronicversions of documents associated with this transaction from our systems. This will include thecontract as well as any documents Mr. [redacted] had sent to us.Again, we apologize to Mr. [redacted] for our substandard performance and we will work to improvethe customer experience in an effort to avoid any recurrence of this unfortunate situation.Sincerely,[redacted], President

the agent was very courteous helpful and patient in helping me with the

application process also the telephone person were the same alsoj

Review: This company claims to provide a lump sum payout of a portion of a retirement pension. The signed contract was submitted on March 31st. They promise 10 days for the funding to be sent to your bank account. I've called numerous times, and had my daughter call as well, for updates. My daughter has recorded phone conversations with their employees guaranteeing funding will be sent by April 9th. Numerous times after that, they then changed the date to April 21st. This is recorded as well, and they sent an email with that date that can be provided. Today is April 21st, and when speaking to a manager, they now state that they cannot issue the funds because they have no funds available. When asked why they would repeatedly lie to their customers and promise different dates, they have no answer. The manager now states that they have recently changed their policy to "2 to 4 weeks from approval date." No notification was given of this purported "change in policy" and quite the opposite, I have written and verbal GUARANTEES that funding would be sent to my bank account on April 9th, then April 21st.Desired Settlement: I would like to receive the funding I was promised, as per the signed contract, by the date that was promised verbally and IN WRITING. April 9th has passed and it is now April 21st, so a "change in policy" is not sufficient. This company's lies have imposed great hardship on me and my family.

Business

Response:

I was pleased with the process and length of time it took.

Future income has been positively helpful in securing the funds we needed for debt consolidation. They have been prompt and efficient .

While the process appeared to be lengthy, it was an overall good experience. The company made sure everything was in order before proceeding with each step of the process.

Customer Service was very good, representatives were knowledgeable in the process and really helped me throughout the time it took to get my information together. This cash advance will be a big help to me in recovering from a difficult situation, and allow me a chance to move forward in a positive way. Thankyou

This was a great and almost painless process. Then again, traveling cross country while trying to get paperwork together is a pain in itself!!

Review: The former [redacted] issued me a lump sum payment. I am a disabled veteran. I later learned that they are unlicensed and charging illegal interests rates against my compensation. I paid the now Future Income Payments LLC and they are threatening me and after paying one representative I received a call from another one immediately following. We also agreed to a payment plan. I received the payment plan via email but received a completely different one in the mail.Desired Settlement: I would like to cease and desist and a refund and stop the threats.

Business

Response:

VIA EMAILMarch 10,2015Ms. [redacted]

[redacted]Re: Complaint ID [redacted]

[redacted]Dear Ms. **,We are in receipt of your letter referencing Complaint ID [redacted] ("Complaint"). A copy isattached for reference.Ms. [redacted] makes reference to a contract she signed with us to receive a cash advance. She alsostates that she believes we are unlicensed and charging illegal interest rates. She also makesreference to receiving conflicting information from representatives over the phone or in itemsmailed to her. We sincerely apologize for any confusion we have caused in relation to the termsof the agreement or in dealing with our representatives. We will use this experience as ateaching tool to improve our customer service and hopefully prevent this from happening in thefuture.Future Income Payments, LLC, previously known as Pensions, Annuities and Settlements, LLC,purchased a set amount of the income stream generated by Ms. [redacted]'s pension for a currentlump-sum payment of cash. This transaction is virtually identical to the sale of a stream ofannuity payments from the settlement of a lawsuit in a structured settlement; but, instead of thecash flows coming from an annuity, Ms. [redacted] utilized her future pension payments. Due tothese facts, these transactions are not viewed as loans and do not contain an interest rate factor.In addition, because these are not loans, there is no licensure requirement to perform these typesof transactions.Section 3.10 of the agreement she executed is entitled "Purchase Price Less than Value ofPurchased Asset; Fair Consideration," and explicitly states that "the Purchase Price issignificantly less than the sum the Seller would receive during the Term if the Seller chose not tosell the Purchased Asset under the terms of this Agreement." Additionally, Exhibit C, DisclosureNo. 4 to the Agreement is entitled "Acknowledgement of Discount," and contains the followingdisclosure in all capitals, bold and underline: "SELLER WILL RECEIVE SUSTANTIALLYLESS MONEY THAN IF SELLER WERE TO RETAIN THE PERIODIC PAYMENTSCOMPRISING THE PURCHASED ASSET." Disclosure No. 4 then goes on to specificallystate the lump sum purchase price Ms. [redacted] is receiving, the total amount of payments Ms.[redacted] would have received if she had not sold her future income stream, and the differencebetween those two amounts.We empathize with Ms. [redacted] and wish to reach a timely resolution. We will refer this issue toour legal counsel for further follow up to see if an agreement can be reached regarding theremaining payments due on her contract. We would appreciate Ms. [redacted]'s assistance inresolving this matter as soon as possible.Sincerely,[redacted], President

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

[I was offered $9700 for a repayment of $25000+. I Have been and am constantly harassed. When I tried to contact the company before the name change, the contact information was unattainable, for the Google search clearly referenced the prior name as a scam. I used to receive different numbers contact me about the former named company. the only difference now is the name and I'm being harassed and threatened by one primary person and one number even after I've made payments.]

Regards,

Business

Response:

March 25, 2015Ms. [redacted]Re: Complaint ID [redacted]

[redacted]Dear Ms. **,We are in receipt of your follow up letter referencing Complaint ID [redacted] ("Complaint"). Acopy is attached for reference.Ms. [redacted] makes reference to a contract she signed with us to receive a cash advance. In addition,she states that she feels she is being "constantly harassed" by persons from our company. She alsorefers to the fact that the company has changed its name and information she found on the internet.Based on our review of information, it appears the last contact we have had with Ms. [redacted] wasback on January 21, 2015. At that time, our representative spoke with her regarding her accountsdelinquent balance fuid her lack of recent payments. Ms. [redacted] and our representative agreed onwhen she would re-start her payments but none have been received since their call.Future Income Payments, LLC, was previously known as Pensions, Annuities and Settlements,LLC. I am unsure what contact information Ms. [redacted] found on the internet, but we wouldappreciate the opportunity to work with her towards an equitable solution to this matter. Wesincerely apologize for the negative experience she has had with ow· company and wish to startback up a dialogue with Ms. [redacted] regarding her past due amounts. We would appreciate hercontacting [redacted] at [redacted] to discuss this matter further.Sincerely,[redacted], President

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

[I have been in constant contact with [redacted] and yes, we agreed on a payment resolution, however, I asked for the agreement in writing. He sent me an email and days later I received a letter in the physical mailbox from the company different from the terms of our agreement. I refuse to stay in contact with [redacted]. He is the harasser. You still have not explained to me how charging $25,000+ is not excessive for a $10,000 loan and not abuse of a disabled veteran's income. How is this not interest?]

Regards,

I got a cash advance and was very happy with the custom service throughout the entire process.

Thank you very much for the assistance I received very much satisfied. with everyone who was involed in assisting me

They were very helpul in getting the cash advance I needed now I can get caught up on some of my bills.