Business ProfileforSequium Asset Solutions, LLC

According to information in BBB files Sequium Asset Solutions, LLC has a pattern of complaint alleging Billing or Collection Issues. 

Specifically, consumers are stating Sequium Asset Solutions, LLC contacts them about accounts in their name that they have no knowledge of. Other consumers stated fraudulent information has been reported on their credit report. While numerous consumers complained of incorrect charges being billed and poor customer service. 

On May 12, 2023, BBB sent correspondence to Sequium Asset Solutions, LLC to request their voluntary cooperation in eliminating the pattern of complaint.

On May 26, 2023, Sequium Asset Solutions responded with the following:

"Thank you for bringing the pattern of complaint regarding billing or collection issues involving Sequium Asset Solutions, LLC (“Sequium”) to our attention. We appreciate your efforts in assisting us to address these concerns and ultimately improve customer satisfaction.

Sequium is a debt collector subject to the Fair Debt Collection Practices Act (“FDCPA”), Fair Credit Reporting Act (“FCRA”), along with statutory laws which regulate the practice of debt collection. It is Sequium’s practice to ensure that the debt placed in their office for collection efforts is accurate and owing by those subject to their compliant collection efforts.  

After conducting a thorough review of our BBB consumer complaints over the past 12 months, we have identified approximately 200 complaints out of our 1,781,397 active accounts. This represents less than 1% of our total active inventory. Upon closer examination, we have found that the majority of these complaints are related to consumers discovering the collection reported on their credit reports. It is important to note that clients for whom we do not report to credit bureaus experience minimal to no complaints.

Within the collections industry, it is not uncommon to encounter similar disputes and complaints as those you have identified from consumers. As required by the FDCPA, upon notice of a dispute of any kind, Sequium ceases all collection efforts and properly updates the consumer’s credit report to reflect the dispute. In addition, Sequium diligently provides the consumer with validation of their debt via copies of their statements, contracts, judgment copies and any other relevant information which supports both the existence of the debt and that the debt was incurred by the consumer. 

It is not Sequium’s practice to knowingly attempt to collect upon any debt which may have been fraudulently incurred. In these cases, upon notice, Sequium ceases all collection activity, properly updates the credit reporting tradeline, and escalates such disputes to their client. Where required, Sequium may also provide the consumer with a fraud packet for completion which includes questions which may assist the client to investigate the matter. 

Sequium takes these matters seriously and will continue to address these matters timely and with great care and diligence. We appreciate the opportunity to address these concerns and pledge our commitment to resolving the pattern of complaint. Sequium remains dedicated to improving our practices and maintaining customer satisfaction. Should you require any additional information or updates on our progress, please do not hesitate to reach out.

Thank you for your cooperation and support."

This aspect of the Business Profile will be udpated once additional information becomes available.