Anyone familiar with the business “101 Financial”?
My parents have signed up with a debt management program called “101 Financial”. This company seems to make promises that are way too good to be true – and as the saying goes, it probably is. The trouble I am having with trusting this company is that the programs costs $ 3900.00 to join and you have to sign a confidentiality agreement not to disclose their “program methods”. It also requires you to place your money into an account with them and then they or their bank partners issue you a line of credit whereby you pay your monthly bills or pay it with a credit card with a grace period. Anyone else think this sounds fishy? I think my parents may have been scammed. Their members claim to have reduced a 27-year mortgage to one year….if this is true, why isn’t everyone in the nation doing it? PLEASE HELP!