ComplaintsforCorporate Turnaround

• Initial Complaint

  05/21/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I decided to hire Corporate turnaround on October 25th of 2023 after numerous conversations with **** about a pending lawsuit that was filed against my business. on November 8th 2023 all the paperwork was signed on November 16th 2023 was the first payment that was withdrawn from my account for $250 dollars and to be withdrawn weekly there after.All they had to do per our agreement was to contact the creditor and stop the court filings and start negotiations and inform them that they where working on my behalf.They never responded to my creditor, the attorneys, the courts or anyone else. On December 5th of 2023 a judgment was filed and on December 18th the bank had been frozen in my account. On December 14th was the last payment withdrawn from my account by ********************** turn around for total sum of $1250.00.they never informed the creditors or there attorneys that they have been retained to negotiate the debt. once My bank account was frozen I had no access to my funds and Corporate Turnarounds attempt to debit my account was rejected. They demanded payment regardless while not informing **** funding that they had been retained to start negotiations. 6 month goes by and nothing happens, after numerous calls and messages ***** picks up my call and has an attitude about my case and tells me I should be happy that they had froze my account and that he will inform the creditors there are funds in the account to request to take it so they can unfreeze my account. My Judgement was for $27,000 for a $21,000.00 debt balance and the creditors where asking for $40,000.Corporate turnaround, had informed the creditors out of malice that there were funds in the account in order not to negotiate the debt and just take it all, Corporate Turnaround has worked against my companies best interest instead of working in favor so therefore has violated the basic principle of contract terms.

  Business response

  05/29/2024

  The client contacted us on November 8 2023 because they were experiencing difficulties keeping up wit the payments to one of the business's creditors. 

  Specifically the company informed us that they owed $27,969.22 to one of their MCA creditors and were supposed to be paying them approximately $3,100 per month. The creditor had already filed a lawsuit against the business in ******** and were aggressively pursuing their claim.

  After speaking with on of our Financial Solutions Consultants, ********************** as President of ********** Services, signed a contract for our services beginning November 16, 2023. As he states in his complaint he agreed to fund $250 per week to be used to resolve the debt submitted for restructuring as well as any fees we earned for the services provided.

  They client claimed that all we had to do, per the agreement, was to stop the court filings and start negotiations. This is a completely inaccurate statement. At no point did we claim that we can stop a court proceeding. We are not attorneys nor did we ever represent that we were. We have emails where he was reminded as recently as November 17, 2023, 1 day after becoming a client, that we do not represent him in court. Had he decided against moving forward with our contract he could have done so at that point.

  The clients claim that we never engaged in negotiations with the creditor is inaccurate at best and more likely an intentional  lie to portray us in a negative light. Our internal notes indicate that we were in constant communication with agents for the creditor beginning on  November 21,2023, 2 business days after the client retained us, through February 26,2024. We were doing this despite only receiving $1,250 versus the $3,000 that the client should have funded to that point. 

  The client stopped responding to us in early January 2024. Despite that we continued discussing resolution options with their creditor. We reached  out them numerous times asking when they would resume funding and how much they can fund towards any settlement. Finally after 3 months of no response from the client we were forced to close the account. 

  On May 17,2024 client contacted us about his frozen bank account looking for us to resolve. Despite the business's lack of funding and communication we reached out to the agent, without any additional compensation, attempting to get them to release the held funds towards a settlement.  

  We performed exactly as represented despite the very minimal funding that we were given to resolve the business's outstanding debt. The refund requested is not warranted based upon the work performed prior to the account cancellation. In realty we are owed an additional $$3,406.36 plus collection costs that we had chosen not to pursue. However, based upon the client inaccurate statements regarding our services and representations, I may have to consider pursuing those fees.
  

• Initial Complaint

  12/28/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I hired this company to settle a debt for me which they were not able to I was able to get it done myself I reached out to them nicely to let them and asked politely to return my money because we were not to far in my agreement was to pay $500 on the 1st and 15th of every month and we only did 2 pays and thats it they dont return your phones or emails and is refusing to release my money back to me they are a total scam I dont recommend them

  Business response

  01/04/2024

  The client executed a contract for our services on November 13, 2023. They submitted 1 creditor to be restructured who was owed Approximately $10,000.

  We contacted the creditor on November 14, 2023 to begin negotiations on a settlement. We were engaged in regular communication with the creditor throughout the month before the client contact us on December 7, 2023 claiming that they no longer needed our services because they hired an attorney to continue the work that we had started. In that email they requested that we refund their money after taking fees that we were *********** as per the terms of the contract.

  A refund in the amount $693.79 was issued in December via check # ******.

   

   

  Customer response

  01/04/2024

  
  Complaint: 21064550
  
  I am rejecting this response because:
  Its January and I havent seen that cheque your claiming to send I would like to have the tracking number as well as the exact date it was sent out thank you 
  
  Regards,
  
  ***************************

  Business response

  01/08/2024

  The check was sent via regular mail in December so there is no tracking number available.

  If it isn't received by the end of the week we will put a stop payment and re-issue the refund.

   

   

  Customer response

  01/14/2024

  
  Complaint: 21064550
  
  I am rejecting this response because:
  
  I still havent seen anything I am convinced nothing was ever sent if you sent it in December it should have been here already we need to verify the address you have for us and for you to ***************** so it can be tracked and we know for a fact you sent us our money,it took yall all of a second to take our money which you got with no problems at all it shouldnt be taking this long to return it 
  
  Regards,
  
  ***************************

  Business response

  01/16/2024

  The check was mailed to **************************************************************************

  I will put a stop payment on the check and reissue via ACH directly to your bank account.

  Please provide me with the routing and account number for incoming ACH payments.

  You can reach me directly at *******************

   

   

• Initial Complaint

  12/16/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  CT collected money for over a year totaling over 45k and kept most of it for services rendered. I still got my bank accounts frozen from their lack of negotiations! When I told them I no longer wanted their services they sent me a bill for over 333k!!! Yes 333k!! I’d like my money back that they took or they can keep it for their time and back away from their 333k owed claim.

  Business response

  12/22/2023

  The client first contacted us on June 29, 2022 because they were experiencing financial difficulties.
  Specifically, they were behind on payments to ** ******** **** ******* companies totaling approximately $700,000 in debt which required payments equaling $109,000 monthly.  Two of the creditors had already liened his processors at the time we were in discussions regarding him retaining our company. On July 29, 2022, after numerous discussions regarding the clients’ situation and the services we provide, ****** ****** executed a contract with our company. The contract required monthly payments of $7,000, 94% less than what he was supposed to be paying to service the debt.
  For the next 16 months we diligently worked on the clients behalf to address the company’s debt issues. During that time we resolved $477,000 worth of debt, not only reducing the amount owed by $219,401 but getting the payments spread out over 5 years and  protecting the company’s precious cash flow.
  At no time did the client express any dissatisfaction with the service provided or the results achieved. The client ceased funding the restructuring on July 24,2023. Despite the lack of funds coming in we continued to communicate with the creditors towards resolution. Finally, after 4 months without the client resuming funding, we were forced to close the account.
  Their claim that their bank account was frozen due to our lack of negotiations is completely without merit.  The creditor that froze the clients’ bank account, *** ******* Group, was actively involved in negotiations with our team regularly for 9 months prior to taking this action. The clients limited budget would not support the aggressive demands made by the creditor. Had the client resumed funding we would have eventually resolved the debt owed to *** ******* as we have done for other clients dozens of times in the past.
  The clients claim that we collected money for over a year and kept most of it is also misleading. We submitted nearly $34,000 to creditors as per the terms of the agreement we negotiated. Any fees that we retained were done so according to the terms of the contract.
  The client only complained about our services after we retained a collection agency to help us recover fees that we are contractually owed which was the last thing we wanted to do. We would have much preferred to keep representing the client to resolve their remaining debt as successfully as we had previously done. Should the client be willing to resume the restructuring we will cease our collection efforts and resume working on their behalf.

  Customer response

  12/22/2023

  
  Complaint: ********
  
  I am rejecting this response because:
  Companies claimed fees out weighed any monies saved. Two of Deals that were struck I negotiated personally and have emails to back it up. Company claims 219k in saving yet wants 330k for claimed work done? I also have email threads about bank account being frozen due to lack of negotiation and not putting priority in the *** ******* issue. It was only after I personally negotiated a deal with them that bank accounts were unfrozen. My next step is to fiel with the CFPB
  
  
  Regards,
  
  ****** ******

  Business response

  01/16/2024

  As I previously stated we would prefer not to assess cancelation fees and resume servicing the client as we had for the year prior to them canceling.

  If they are unwilling to resume working with us I would forgive the cancelation fees and accept fees earned based upon settlements negotiated prior to them canceling.

  I will waive the collection fees as well.

• Initial Complaint

  09/21/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  We hired Corporate Turnaround to settle our debts. They did NOT settle the ones that were in court/lawsuits, but tried to settle the ***** debts. We settled our debts ourselves, and now we are being threatened by Corporate Turnaround to be sent to collections/start litigation for $6,848.18, AFTER we stopped payment to them, as they were not doing what they were hired to do. They're claiming we never paid them, but we were paying $275/ week and they have/will not provide documentation of where the funds provided went.

  Business response

  10/06/2023

  All fees charged were done so according to terms of the contract.

  We will forward a full accounting and hope to come to an amicable resolution.

  Customer response

  10/17/2023

  As of today 10/17/23, this has not been resolved. Corporate Turnaround is refusing to give us a break down or any charges. They refuse to tell us where the money they had taken went. They refuse any contact, but have a collection agency calling. 

  
  

  ***************** was supposed to have given us a breakdown 6 months ago, and we never heard anything else until the collection agency called. He tends to use big words and threats- because he thinks we are illiterate, to think he is getting what he wants. We have had several phone calls with him where he is extremely aggressive and unprofessional to the point of using curse words towards us, but if we are any kind of "unprofessional" with him, he claims we are too unprofessional and he cannot speak with us. 

  
  

  At the end of the day, they are scamming people out of their money. They claim to be resolving debt, but they don't even call about big debts. They worry about small ***** debts that aren't in lawsuit, aren't being threatened yet. When you ask for help seeing where your money is being disbursed, you're told to use a portal- that isn't easy to navigate. They refuse to help you navigate. They tell you that you're able to terminate the contract at any given time, then when you terminate, they continue taking payments until you have to call the bank and put stop payment on them. Then they slap you with a big bill and collections, without any explanation, just that it's for their services. 

  
  

• Initial Complaint

  06/22/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Writing with the hope this provides guidance in helping another business owner in distress, avoid the nightmare that is Corporate Turnaround. Of course, you are going to read a response from Corporate Turnaround that makes it look like I didn't follow the program or whatever lies they continue to run out there. All I ask is that you read the complaints, all you need to know is listed in the complaints written. I entered into an agreement with Corporate Turnaround as my STR business was no longer and was trying to gang on financially and I felt I was on the brink of bankruptcy. I promise you this, if your choices are Corporate Turnaround or Bankruptcy, choose bankruptcy. There are many legal protections for you and your business that you give up with Corporate Turnaround, and as you will read, they do nothing but take your money. At the end of the day, they did more harm than good and you will most likely travel down the bankruptcy road anyway. During the 6 months or more I was engaged with Corporate Turnaround, I was continuously told to stop panicking and let the process take its course whenever I called with concerns my calls are never answered or returned. After 5 full months, none of the debts that I had entrusted to Corporate Turnaround had been paid. It became obvious that they never will be. Corporate Turnaround was simply going to keep taking money from my account until I stop them taking more funds. Once you end the agreement, they claim they can just keep your money as payment for the work they did. The longer they can keep consumers from not panicking and continue to fund the accounts, the larger the amount they can keep. This is nothing more than a ponzi scheme designed to take as much from me as they possibly could. None of that money ever went toward paying my debts. I can't stress this point enough. Stay away from them. We are on the verge of being evicted with a 4 year old. I am fed up if their lies and someone needs to put a stop ?? to them.

  I was told how they have no time to go thru their emails. I am now getting migraines again which leads to a stroke. Just tired  of this. Keep getting the same dismissive responses. 

  Business response

  06/28/2023

  I am actually surprised to see this complaint. This is an active client who has been with us for 7 months. They have never complained about our service but have expressed their concerns about their creditor threats. Contrary to what the complaint says we have settled one of the 3 creditors and are close to resolving their largest and most aggressive creditor. To date we have charged a total of $225 for 7 months of work. We have been in communication with the client and feel confident that their concerns will be resolved this week.

  Customer response

  06/28/2023

  
  Complaint: 20223140
  
  I am rejecting this response because: I am rejecting this because I was sent info about a UCC lien information on PayPal I communicated this to Corporate turn around I was told not to worry about that now it is to the point where one of the creditors submitted a copy of some kind of document to a company I contract with and so now my revenue is  being held Im only making 5% of what I used to make now that is being held I am not able to even go to the doctor Im not able to do anything. Then I have someone telling me that what with what they deal with  my debt is just a drop in the bucket to what they are used to working with and that theyre not even getting any money off of me. what settlement are they talking about there is no settlement they just agree to a payment plan which was done back in December 2022 and no payment was ever made to the creditor so what settlement nothing is being settled I feel as if because my account is not much money they are not working on it what Im going through is not important so please correct me if Im wrong as I have email showing the first time they claimed they had a settlement with one of the creditors that is no settlement its a payment arrangement that they set up which they never honored it is now June I got that back in December saying that they had this in place now Im waiting to see what to do so short of getting my money back and finding an attorney to file bankruptcy That seems to be the course that I need to go on I dont need someone trying to tell me you took this loan out I know that and thats why I came to  your company to assist me in settling this situation but all they do is belittle you and make you feel like youre nothing
  
  
  
  Regards,
  
  ****** Bl

  Business response

  11/15/2023

  All of the clients debt has been settled and are currently on payment plans that fit within the clients current monthly budget.                                                                             We have completed the job that the client hired us to do.
  

   

  Customer response

  11/15/2023

  
  Complaint: 20223140
  
  I am rejecting this response because:
  
  This is not true.

  
  
  Regards,
  
  ****** Bl

• Initial Complaint

  10/25/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Hired this company to settle a debt .Since 2020 I have given this company above **** dollars .They have yet make a cash offfer to settlement to the creditor. I have now received a letter from the courts that the case is now in receivership.and they want to seize my accounts When ask why they have not attemptted to settle this case with the creditor .They contiue to say we wont beg them to settle. even thou they have **** of my dollars.

  Business response

  11/07/2022

  We have been engaged in discussions with this client regarding this unresolved debt. We have notified him that we are in negotiations with the creditor and feel confident that we will reach an affordable resolution with them shortly.

   

• Initial Complaint

  05/31/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  TOTAL SCAMMERS! I hired this company in order to help resolve a debt for me. After more than 60 days they havent been able to do so. After speaking with **** he told me that I would owe $9000 on a $2000 potential settlement with the creditor. Which is not at all what was discussed or laid out in the agreement. Also that is more than what I owe the original creditor. I owe the original creditor $28,000 and after working with them I owe them $29,000. How is that even possible? I am requesting the FULL $2,000 that I have paid for this fraud!

  Business response

  06/06/2022

  We have been trying to contact the client to address their concerns.

  So far they have failed to respond to our phone calls or emails.

   

  Customer response

  06/06/2022

  I have been in contact text with Raffi and yet have come to resolution. Ive made what I am seeking known to him so that is not true that I havent responded 
  Complaint: 17293057
  
  I am rejecting this response because:
  
  
  
  Regards,
  
  *******************************

  Business response

  06/08/2022

  The client did not initially respond to our attempts to contact them. I have been made aware that has since changed and we are currently in discussions to address their concerns.

  Customer response

  06/13/2022

  
  Complaint: 17293057
  
  I am rejecting this response because:
  
  There has not been a resolution made
  
  Regards,
  
  *******************************

  Business response

  06/14/2022

  We are still communicating with the client with a hope of reaching an amicable resolution

  Customer response

  06/15/2022

  
  Complaint: 17293057
  
  I am rejecting this response because:
  
  There was snot and agreement that was made. They have told me that even after paying them for months that they will keep my money even though they did not do what I paid them to do. They have scammed me out of my money and I now have to take further actions with the *** and others. 
  
  Regards,
  
  *******************************

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