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Business ProfileforNational Debt Consultants Inc
Current Alerts For This Business
On February 13. 2023, the business received an Order from the Minnesota Administrative Law Judge in response to filings presented by the Minnesota Department of Commerce. The Order settles allegations that the business was not licensed by the Minnesota Dept. of Commerce, operated out of a private mail box store in Coon Rapids MN; and the business advertised on the internet as a debt settlement service, helping consumers with their monthly debt payments, including claims to 'eliminate debt' and improve credit scores. However consumers were preyed on by the business and were left in far worse financial positions. In addition, the contracts consumers signed did not meet the requirements of Minn. Stat. §§ 332A.10, subd. 4, 332B.06, subd. 4 and 6, 326B.07, (2020) and the business failed to respond to the Minnesota Dept. of Commerce's requests for information.
The Order found that the business engaged in deceptive actions when offering debt related services to consumers, a violation of Minn. Stat. §§ 45.027, subd. 7(a)(2), 332A.14(10), 3326.10(1) (2020) and was an unregistered debt-settlement-services-provider, a violation of Minn. Stat. §§ 45.027, subd. 7(a)(2), 3326.03 (2020). The Order also found the business unlawfully stated, inferred, or indicated to consumers that entering into debt settlement services agreements and settling debts will have no effect on, or improve, their credit, credit ratings, and credit scores a violation of Minn. Stat. §§ 45.027, subd. 7(a)(2), 332B.10(7), 326B.11, subd. 1(1) (2020) and the contract violated Minnesota law in numerous respects, "including (a) containing hold harmless clauses, mandating arbitration, and waiving the right to jury trial; (b) lacking mandatory consumer-protection disclosures; and (c) failing to allow the consumer to cancel the contract and obtain a refund of all unearned fees" violations of Minn. Stat. §§ 45.027, subd. 7(a)(2), 332A.10, subd. 4, 332B.06, subds. 4, 6, 3266.07 (2020). In addition, the Order found the business failed to comply with the Department of Commerce's information request and subpoenas a violation of Minn. Stat. §§ 45.027,
Under terms of the Order, the business was to pay a civil penalty of $35,000.00. For more details go to the below link.
Additional business information
At-a-glance
Related Categories
Overview
Business Details
- Location of This Business
- 13055 Riverdale Dr NW Ste 5-309, Minneapolis, MN 55448-8403
- BBB File Opened:
- 6/26/2003
- Business Started:
- 1/1/2001
- Business Started Locally:
- 1/1/2001
- Business Incorporated:
- 2/1/2003
- Type of Entity:
- Corporation
- Alternate Business Name
- Compass Marketing Group
- National Debt Consultants
- Justus Debt
- Business Management
- Tim Shannon, Operations Manager
- Contact Information
Customer Contact
- Tim Shannon, Operations Manager
- Additional Contact Information
Fax Numbers
- (763) 201-5860Primary Fax
Phone Numbers
- (888) 883-3287Other Phone
- (763) 201-6047Other Phone
Email Addresses
- Primary
- (763) 201-5860
Customer Complaints
0 Customer Complaints
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