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http://www.loanconsultants.com/ The Loan Consultants, my opinion

In business credit, commercial lender, commercial loans, credit lines, loan brokers, loan consultants, Loan consultants scam, scams, The Loan Consultants, www.loanconsultants.com on June 4, 2012 by Jim Tagged: , , , , , , ,

My blog post is for anyone out there considering http://www.loanconsultants.com/ or THE LOAN CONSULTANTS – to follow is my opinion.

In 2009 I was researching several things in the commercial loan industry and came across THE LOAN CONSULTANTS. I requested information.

I got a call from their salesperson, John. He spoke to me and answered my questions and gave me the info I wanted.

Within a short period both of my parents died.

John called me back to see how I was coming along, I explained to him that I wanted time because I lost both of my parents within 5 weeks of each other. He continued to call back. I again asked if I could have more time because of their deaths and their estate, etc.

John continued to push. It was early summer and I asked to push our talks to late summer or fall. He pushed me into signing up for a training session that was a 8 hour drive away and he took my deposit.

I traveled there and found that much of the course was about things I already knew- I was a banker and lender. Yet there were a few new things and I continued to give it a chance, plus I had signed a contract and obligated.

Over the summer and fall I tried to use their sources many many times for commercial loans, leases and SBA loans. Never once was I able to get a loan approved with their ‘preferred sources’. I was able to use my own sources.

They sold the leasing program as a wonderful alternative way to earn income. I found that the leasing was just as or more competitive than the SBA loans and commericial lending.

One of the features of signing up for their service was that I could call or email in and ask one of their two consultants where I could put or source a specific loan. I could say “I have this SBA loan with 75% LTV on CRE in Ohio, which one of your places can help.”

While I believe the two consultants were helpful and seemed like great guys, the info was not often good. I asked for a SBA lender once and one of the guys gave me one SBA lender that was completely closed, one that no longer did SBA lending, and another that didn’t do it in that state. This happened more than once.

Again, my history was that I had SBA lending experience. John the sales guy convinced me that they had many many other lenders that would broaden my ability to get deals done. Again I stress that out of getting over $11million worth of loans approved that year, NONE came from lenders that The Loan Consultants provided.

True, they do provide you with a binder of lenders and leasing companies. In my opinion you can find all of these online with a few hours time. Use services like BoeFly, Scotsman Guide and similar sources instead.

It is my opinion that the Loan Consultants took advantage of my emotional state and pressured me to buy. I spent a lot of money and I will never be able to earn it back from their sources as they sold to me. I believe I wasted opportunities too. While their guys meant well, they were tough to get hold of and ultimately weren’t that helpful. I felt that the sales person upfront is/was high pressure and did not have my best interests at hand. I really wanted to make it work. My suggestion is to look elsewhere and not work with them.

Again, I was able to get loans done and be successful, but no thanks to http://www.loanconsultants.com/

In my opinion, http://www.loanconsultants.com/  The Loan Consultants is NOT worth it and I recommend that you do not buy this service.

I did address this with the Better Business Bureau as well. I did not request a refund due to the contract I signed and the duration of time (I gave them a long enough period to make it happen).

Feel free to comment below and ask for more info or we can talk by phone.

Resources:

(These are NOT affiliate links nor do I receive any referral fees, etc. nor am I affiliated with Boefly or IWF/Tyler Hicks.)

Books about being a lending consultant http://www.iwsmoney.com/financing.htm 

Boefly’s site (Free Webinars are available to learn more) http://www.boefly.com/about_us.cfm  and

http://www.boefly.com/boeFly_pricing_and_plans_broker.cfm

visit http://www.scotsmanguide.com/ to find lenders for residential, commercial, hard money and all others! Find a lender – be becareful!

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my review of Tom Kish

In business credit, CashFlowExperts.biz, cashnow2009.com, corporatecreditconcepts.com, credit lines, scams, thetomkishshow.com, Thomas Kish, Tom Kish, tomkish.com, unsecured credit, www.yourbusinesscreditcoach.com, yourpathtopersonalwealth.com on April 29, 2011 by Jim Tagged: , , , , , ,

In late 2009, I started working with corporatecreditconcepts.com- I was referred to them by an affiliate Tom Kish. Mr. Kish has multiple sites-cashnow2009.com, CashFlowExperts.biz, thetomkishshow.com, tomkish.com, yourpathtopersonalwealth.com. I’d visited the website and spoke to a sales person on the phone a few times and I was told they could help me build multiple credit lines up to $100,000 in approx 6 months, and they offered a refund. I still have the info. I cut and pasted here “Your $1,499.00 investment ($498 to get enrolled and $249 a month for 6 months) guarantees we will build an A+ credit score on your company helping to separate your personal credit from your business credit.” I got a slight discount because of a referral, so I paid $195/month. I signed up. There is a step by step checklist that clients have to do. Fine. First is to use their list of vendors – buy the vendors services or products and over several months, these vendors will report positive things on your credit report. They assign you a ‘credit coach’. Over time you can then improve or build a credit score for your business entity, in this case my new LLC. I purchased all of the services and products as instructed. I was told it would take 60-90 days for things to show on the reports. I waited. I contacted some of the companies to ask/remind them. 120 days came and I only got 1 report from one company. I was told to wait more. I contacted some of the companies and asked them for their reporting. I again contacted my credit coach. No new results. I was paying the monthly fee to corporatecreditconcepts.com AND paying fees to the vendors, some were $20/month, another was $50, another was $100/month. When I hit 6 months, I had paid thousands of dollars. I still had only one vendor do one report. TO PROGRESS in their system, you must have multiple reports from multiple vendors. In other words, i could NOT move ahead to the next Tier or Step until a vendor or two reported. I was stuck to pay another monthly fee to all parties. I did stick it out another month and still no results. The credit coach simply said I had to wait for the vendors to respond before I could move on. So I wrote the management of the company. He involved the credit coach and asked what the issue was. The credit coach even admitted that I did what I was supposed to do and didn’t get the results they promised. Here is the feedback my credit coach gave the manager “The client does have somewhat of a legitimate complaint unfortunately as the trade accounts we told him to use didn’t really work out. If they would have and he was able to move to step 5, then 6, he probably would have been just fine. When I asked Trent about this client on 8/4/10, this was his response. He needs to set up other accounts. We no longer recommend any of these companies since they had problems reporting. Just have him go in and set up 5 or 6 more accounts in the new back office.” THIS was after 6-7 months.They wanted me to continue for about 6 more months with new vendors, so I could progress in or up their Tiers and establish my credit. They wanted me to continue to pay them $195, pay the new vendors, and disregard the monies I paid them and the old vendors. They did not stand behind their guaranty offer, even though they admit their recommended vendors were no longer good. It was a known fact in the company, I have an email from Chad Lee, a corporate officer at corporatecreditconcepts.com with this information also. When I asked for the refund, he said because I was referred by the affiliate Tom Kish’s website, Mr. Kish’s company had to service this issue and maybe he’d provide a refund. I called, faxed, emailed, mailed Mr. Kish at multiple addresses, Never a response. No one will take responsibility. OVERALL, I followed their steps, paid the fees, bought products/services, waited and they didn’t do what they said. Then they didn’t refund my fees but instead wanted me to sign up more/longer.

In my opinion, avoid this one, feel free to email me if you want jimfrey@hotmail.com

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My review of corporatecreditconcepts.com

In business credit, corporatecreditconcepts.com, credit lines, scams, unsecured credit, www.yourbusinesscreditcoach.com on April 29, 2011 by Jim Tagged: , , , , ,

In late 2009, I started working with corporatecreditconcepts.com and their other site www.yourbusinesscreditcoach.com. I’d visited their website and spoke to a sales person on the phone a few times and I was told they could help me build multiple credit lines up to $100,000 in approx 6 months, and they offered a refund. I still have the info. I cut and pasted here “Your $1,499.00 investment ($498 to get enrolled and $249 a month for 6 months) guarantees we will build an A+ credit score on your company helping to separate your personal credit from your business credit.” I got a slight discount because of a referral, so I paid $195/month. I signed up. There is a step by step checklist that clients have to do. Fine. First is to use their list of vendors – buy the vendors services or products and over several months, these vendors will report positive things on your credit report. They assign you a ‘credit coach’. Over time you can then improve or build a credit score for your business entity, in this case my new LLC. I purchased all of the services and products as instructed. I was told it would take 60-90 days for things to show on the reports. I waited. I contacted some of the companies to ask/remind them. 120 days came and I only got 1 report from one company. I was told to wait more. I contacted some of the companies and asked them for their reporting. I again contacted my credit coach. No new results. I was paying the monthly fee to corporatecreditconcepts.com AND paying fees to the vendors, some were $20/month, another was $50, another was $100/month. When I hit 6 months, I had paid thousands of dollars. I still had only one vendor do one report. TO PROGRESS in their system, you must have multiple reports from multiple vendors. In other words, i could NOT move ahead to the next Tier or Step until a vendor or two reported. I was stuck to pay another monthly fee to all parties. I did stick it out another month and still no results. The credit coach simply said I had to wait for the vendors to respond before I could move on. So I wrote the management of the company. He involved the credit coach and asked what the issue was. The credit coach even admitted that I did what I was supposed to do and didn’t get the results they promised. Here is the feedback my credit coach gave the manager “The client does have somewhat of a legitimate complaint unfortunately as the trade accounts we told him to use didn’t really work out. If they would have and he was able to move to step 5, then 6, he probably would have been just fine. When I asked Trent about this client on 8/4/10, this was his response. He needs to set up other accounts. We no longer recommend any of these companies since they had problems reporting. Just have him go in and set up 5 or 6 more accounts in the new back office.” THIS was after 6-7 months.They wanted me to continue for about 6 more months with new vendors, so I could progress in or up their Tiers and establish my credit. They wanted me to continue to pay them $195, pay the new vendors, and disregard the monies I paid them and the old vendors. They did not stand behind their guaranty offer, even though they admit their recommended vendors were no longer good. It was a known fact in the company, I have an email from Chad Lee, a corporate officer at corporatecreditconcepts.com with this information also. OVERALL, I followed their steps, paid the fees, bought products/services, waited and they didn’t do what they said. Then they didn’t refund my fees but instead wanted me to sign up more/longer.

My advice is don’t try it. email me and I’ll discuss it more if you want.

jimfrey@hotmail.com

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Chris and Charity Godfrey

In charity godfrey, Chris and Charity Godfrey, chris godfrey, Echad, MLM, scams on January 30, 2011 by Jim Tagged: , , , , , , , , , , ,

In 2008 I worked at a bank and I found out that the bank was closing our whole group – about 650 of us. We were told our last day was December 1, 2008. It was sometime in the fall and I had been looking on the Internet for some legit opportunities like many people. First of all, this is probably not the best thing to do. I’d recommend actually calling and meeting people, working via a referral or someone you know, etc. There are good things out there but ask someone who has had success – that you know and trust.

I had come across the Godfreys’s websites a few times and it caught my attention. The plan they described some cashflow – not necessarily get rich quick – but the chance to earn money with less effort. I called and spoke with them a few times. Chris Godfrey is so good on the phone. He either is genuine or can really fake it. I believed that he could really help me and that he really cared.

Often he told me about specific examples of other people that did well with him. “Jim, the other day this guy signed up with us and….” or “I just spoke to a single mother and I really want to help her out of her rut……” Good stories that I wanted to believe and grasp on to..  before I go further, I want to say that I’m accountable for what I do, I let myself be a victim, and I take full responsibility. I also don’t feel they are ‘evil’ people. Maybe they really do care, maybe they do help others earn money. That didn’t happen with me.

Anyhow, after multiple calls over weeks, and knowing that I was losing my job, I took the chance and called them to sign up. First, I wanted to sign up at a lower level with a program they were involved in called Emerald. It was the best thing ever, according to Chris. Chris and Charity promised help, support, etc. So they convinced me to spend more money for a higher level. I took the bait. I spent thousands of dollars with them, got website, and then went to try and find others – very similar to a MLM system.

They did send me leads – I called them and typically they never called back or showed any interest. Chris always promised that I could do a three way call so that he could do the talking to the client and get them on board for me. I tried this many times but it was frustrating because Chris wouldn’t be available so it was tough to schedule a call with a prospect and Chris. I spent weeks mailing, calling, emailing – trying to get someone into the Emerald system.

Then I got a call/email from the Godfreys that the Emerald system was somehow suddenly ‘bad’ and they weren’t going to be involved any more. Too bad about the money I spent but that was it. But guess what, they found a better system.

Even though I still hadn’t received the ‘free trip’ I was supposed to get from the Emerald Passport program, I signed up with the new program – Profit masters, aka Automatic Cash Machine, and again I was supposed to get a free vacation somewhere. To this day I never received any certificates or docs on this despite asking Charity about it multiple times. (I still have all of my emails with the Godfreys.)

I again took the bait, spent less money, but still a few thousand. They again promised help, support, etc. I again tried to get Chris on calls to ‘sell’ the prospect and build some cashflow. I was getting frustrated, worried, I felt a bad feeling in my gut that I blew money my family needed. I also found that I had no enthusiasm trying to ‘sign up’ someone to the program because I didn’t believe in it, we really weren’t selling anything of value, and it was basically a pyramid scheme.

I called Chris one day from my car phone while driving. I remember it very clear. I expressed my concern that things weren’t working, I was frustrated, etc. As he did many times before, he began to relate a story of a seemingly real person that worked with the Godfreys and was changing his life. The story started out about a guy about my age, with kids also, and Chris went on….then he started to say that the guy was a banker, had 2 girls, etc. etc. Chris Godfrey was telling me a success story about me, even though I had not ‘sold’ a deal yet.

I felt very sick. He was trying to convince me to stay on board and keep chugging using a fictional story about me – but he hadn’t realized it. I later brought it up in an email and on the phone to Charity. She gave me some explanation and danced around it. I suddenly woke up to what I did, I looked for the easiest way to earn a buck and I lost my shirt.

I’m a smart guy with a college degree, MBA, and I’ve done some good things in my career. I’ve been successful. I was, and still am, embarrassed by how I got myself into this situation and how I lost my own money. For a few weeks I half-heartedly tried to still get one deal to get my investment back but my spirit wasn’t in it.

Since then, I’ve sent notes to the Better Business Bureau, local chambers and other groups. Just last month I received a letter from the IRS; they have an open investigation of some kind on the Godfreys and they are looking for some info about their income streams, I’m told.

Again, maybe there are success stories. Maybe the Godfreys are helping dozens of people. I’ve never heard of one. In my opinion they took advantage of me when I was vulnerable, when I was grasping for help. I let myself get into this position.

I hear that they are onto at least one new program, TVI Express. In my opinion, just like all of the above, it is a pyramid-scheme-like program. Note that I’m saying all of the above blog and I believe it to be true in my opinion, allegedly. I can only prove parts of it via my emails, canceled checks, etc.

In my opinion, don’t do it. Do a search on Google or something and read about all of the scams. Contact me, I’d be glad to tell you more if you want. I wish you the best.

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Hello world!

In Uncategorized on January 30, 2011 by Jim

Welcome to WordPress.com. This is your first post. Edit or delete it and start blogging!