Lifeguard Financial, Safetrust Financial and all the other companies that they were called, will now become NATIONAL DEBT RELIEF GROUP INC. but they are also working with Century Negotiations Inc., they actually are! David Leuthold the owner of CNI, somehow has a controlling or some interest in TASC. (tascsite.org) What I feel is going on with these companies is this:
1. Debt settlement is a new and unregulated business, even if they say its regulated, how can an owner of a debt settlement company make the regulations...
2. People dont understand what they are getting in to, thus they get scared and panic and make complaints everywhere. People should not be signed up if they dont understand.
3. To sell any financial/investment advice or products, you MUST BE REGISTERED with the GOVERNMENT. These companies are not registered and not only that but, NONE OF THEIR EMPLOYEES ARE REGISTERED OR LICENSED THEMSELVES!!! To advice a client to open up a savings account and have them fill out an application for a savings account that you handle, you need a to pass a licensing exam with the SEC!!! To give any financial advice you must be registered at the state level.
4. These companies may have been started with the intent to really help people while the companies still make good money, but with all this panic and lawsuits and Attorney Generals getting in their way, they were bombarded with all these problems, so they looked over their contract and said, you still gotta pay the fees, nothing is refundable, your screwed now fuck off, I got 10 million more people to call.
5. These people are really determined, they have no problem setting up new companies, new websites, hiring people that are uneducated and that are desperate to make money.
So who will win, its hard to say, honestly, people need to get the SEC involved, as this is becoming a boiler room operation, where unlicensed and unregistered representatives (even minors) are selling financial advice and products. That would put a nice halt to this business and finally get legitimate people taking care of people with debt problems.
If you were to read this contract, I dont know how anyone in hell could sign it. I can upload their new contract somewhere...