ComplaintsforCBC Settlement Funding LLC.

• Initial Complaint

  07/14/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  CBC Settlement Funding entered into a contract to buy my annuity payments. I gave up a large portion of my annuity to receive a fast settlement. The official change of payee with ******* **** occurred Friday, July 7, 2023. Despite receiving confirmation, CBC has still not funded me. They are to receive their first payment from ******* on Monday yet I have received no money. CBC is in breach of the contract we signed. None of their promises or agreements have been honored. All I have been given are excuses and false assurances. I was promised in writing that I would receive my money by midday today. I have received no money. My bank has no pending transfers. Nothing. I now cannot even raise anyone on the phone at CBC.

  Business response

  07/20/2023

  Re: BBB Complaint Case # ********

  
  Dear **********************,

          We extend our sincere apologies for the unforeseen delays you experienced. We understand how frustrating it can be when expectations are not met, and we deeply regret any inconvenience caused during this process.
  

          Upon investigating the matter, we have identified the root cause of the delay. As you mentioned in your complaint (confirmation letter being received July 7th), the correct confirmation letter required for processing your transaction was not received by our team until Thursday, July 13th. I have attached this letter for your reference.

          Once the correct confirmation letter was received, our team promptly began processing your funding request. We successfully funded your transaction on Monday, July 17th. Nevertheless, we understand that the delay had already caused frustration, and we genuinely apologize for any stress it may have caused you.

          At CBC Settlement Funding we prioritize customer satisfaction, and we recognize that we fell short of our commitment in this instance. We value your business and the trust you have placed in us, and we will work diligently to prevent similar situations from happening again.

          Please know that your feedback is invaluable to us, as it helps us identify areas for improvement and deliver better service to all our valued customers. We are taking your concerns seriously and are implementing measures to enhance our processes and communication to avoid any future delays.

          Once again, we extend our deepest apologies for any inconvenience caused. Should you have any further questions or concerns, please feel free to reach out to me directly at ************. I am here to assist you in any way I can.
  Thank you for bringing this matter to our attention.

  
  Sincerely,
  
  ***************************
  Director of Sales
  CBC Settlement Funding

• Initial Complaint

  06/27/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I signed with CBC Settlement Funding to sell them my structured settlement. As part of the negotiations *** promised me that CBC would send me a $2,000 advance immediately after signing and another $1,000 immediately after scheduling the hearing date. 13 days prior to the hearing date *** notified me that the hearing date was set and when asked about the advance he said he’d “look into it”. We called and texted multiple times leading up to the hearing date and we always got the run around about the rest of the advance saying he’d “speak with finance”. I’ve experienced tremendous financial hardship because of this. Two days prior to the hearing *** isn’t returning our texts so we spoke with **** who said he’d send the advance tomorrow and I should get it after the hearing (which wasn’t the agreement), and when told this was incredibly sketchy and unethical and we weren’t going to trust CBC with the deal if they couldn’t deliver on $1k he asked for proof of power of attorney (which he hasn’t before) and basically weaseled out of handling the situation honestly and ethically. These are dishonest people who act one way before signing and another way after signing. Very unethical company.

  Business response

  06/30/2023

  We apologize for the inconvenience and frustration you have experienced in your dealings with CBC Settlement Funding. We understand that you had an agreement with *** regarding an advance payment of $2,000 immediately after signing and an additional $1,000 upon scheduling the hearing date for your structured settlement. It is regrettable to hear that the promised advances were not provided as agreed upon, causing financial hardship, and leaving you dissatisfied with the company.
  
  We take these matters seriously, and we appreciate you bringing your concerns to our attention. Rest assured that we are committed to resolving this issue and addressing any unethical behavior or miscommunication that may have occurred. We strive to provide a high level of service and maintain the trust of our clients throughout the entire process.
  
  Upon reviewing your complaint, we have taken immediate steps to investigate the situation and identify the individuals involved. It is important for us to understand the circumstances and ensure that this does not happen again in the future. We have reached out to *** and ****, who were mentioned in your complaint, to gather their perspective on the matter and gather all relevant information.
  
  We apologize for any delays or difficulties you encountered in attempting to communicate with our representatives. Open and transparent communication is a core value of our company, and we will reinforce this principle with our team to prevent similar situations from arising in the future. Your feedback highlights areas where we can improve our processes, and we appreciate your input.
  
  Regarding the requested proof of power of attorney, we understand that this request came across as additional unnecessary burden at an already stressful time. We acknowledge that it was not in line with the agreed-upon terms, and we apologize for the confusion and frustration it may have caused. Rest assured, this matter will be addressed internally to ensure a smoother and more transparent experience for our clients moving forward.
  
  At CBC Settlement Funding, we value our customers and the relationships we build. We are committed to making this right for you. In light of the inconvenience and hardship you have faced, we will expedite the processing of the advances owed to you. We will ensure that the $1,000 advance promised to you will be delivered promptly, without any further delays or complications. Please reach out to us as soon as possible to process this request.
  
  Additionally, we will be conducting an internal review of our policies and procedures to ensure that such misunderstandings are avoided in the future. We appreciate your patience and cooperation as we work to rectify this situation.
  
  We sincerely apologize for any inconvenience caused and thank you for bringing these concerns to our attention. We remain committed to resolving this matter and restoring your trust in our company. If you have any further questions or would like to provide additional information, please do not hesitate to contact our customer service department.
  
  Sincerely,

  CBC Settlement Funding 

  Customer response

  07/06/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because: 

  Although CBC's response here on BBB was well written, apologetic, and professional, it's been 6 days since and CBC has continued to give me the run around, they still havent sent the small advance as promised, putting me through the worst financial crisis of my life and forcing me to take my business elsewhere. CBC has failed to deliver on almost every promise made. 
  

  Regards,
  
  *******************************
  

  Business response

  07/20/2023

  Re: BBB Complaint ID: ********

  Dear BBB,
  

  We appreciate the opportunity to address this matter and clarify the situation. We understand the concerns raised by *******************************, and would like to reiterate that our intention is to fulfill our obligations as outlined in the Purchase and Sale Agreement once the required conditions are met.
  

  As clearly communicated in our previous correspondences, we have been unable to process an additional advance payment until the pending transaction is officially granted in court.We value transparency and have been in regular communication with ****** (and his Uncle ****) via email to keep them updated on the progress of the legal proceedings.

  The court hearing scheduled for September 14th is crucial for obtaining the necessary approval to proceed with the transaction. We are committed to completing the purchase as agreed upon and, upon receiving confirmation from both the court and *****’ insurance company, we will promptly fulfill our financial obligations, including funding the purchase price.

  We understand that this situation might cause some frustration, but we assure you that we are doing everything within our power to expedite the process and finalize the transaction as soon as possible.

  Rest assured, once we receive the necessary approvals, we will proceed with the disbursement process and ensure that ****** receives their purchase price without further delay.

  We kindly request your understanding and patience as we navigate through this legal process. Thank you for your attention to this matter, and we appreciate your efforts in resolving this complaint. We look forward to a favorable resolution once the court grants the transaction.
  

  Sincerely,
  
  ***************************
  CBC Settlement Funding

  Customer response

  07/29/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because: CBC Settlement Funding LLC has not acknowledged that they promised me a $2,000 advance immediately after signing and an additional $1,000 advance immediately after the court date was set and didn't send the additional $1,000 which caused me to go through a severe housing crisis. A simple apology is all I want. **** also attempted to gaslight my uncle (who has power of attorney) by telling him "I am trying to maintain a level of professionalism but the tone of your emails is offensive and won't be tolerated". As if we're at fault for calling them out on their unethical behavior. 
  
  Regards,
  
  *******************************
  

• Initial Complaint

  06/22/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  This has been a terrible experiance, cbc has done nothing they say they would do. Lie after lie and still cant get a straight answer. Went to court over a weel ago still no money. They want a letter from your annuity provider that states they take possession before you get anything which they conviently leave out of every conversation. You will get no advance no nothing just lies. Please run far away from them they should be in jail. They have done nothing but put a financial hardship on my whole family. Call anyone but them.

  Business response

  06/23/2023

  RE: ************************* Complaint 

  I am writing in response to the BBB complaint that was recently filed against us. We take customer feedback seriously and strive to provide transparent and truthful information in all our interactions. We regret any misunderstanding or frustration you may have experienced and would like to address your concerns.

  Regarding your assertion that we have been lying and not being truthful, I would like to clarify the situation. As we have explained in previous communications, we have been fully transparent about the process and have diligently provided you with accurate information to the best of our knowledge. One specific issue is the assignability of your policy with the insurance company. While we have made efforts to ascertain the assignability of your policy, we have yet to receive confirmation from the insurance company regarding its assignability. We have conveyed this information to you in great detail during our previous interactions. Our intention is to be open and honest about the status of your policy, even if it means delivering news that may not align with your expectations.

  Please understand that as a service provider, we are reliant on the policies and procedures set forth by the insurance company. It is our responsibility to ensure compliance with their guidelines and seek their approval for any necessary actions, such as policy assignments. We have made every effort to facilitate this process and have kept you informed at each step along the way.

  We genuinely understand your frustration and the importance of clear communication. We apologize if our explanations have not fully addressed your concerns or if there has been any miscommunication. We remain committed to working with you to find a resolution that meets your needs and expectations within the confines of the insurance company's policies.
  

  We value your business and strive to provide excellent customer service. We would appreciate the opportunity to discuss this matter further and explore any potential alternatives or solutions that may be available. Please feel free to contact us directly so that we can address your concerns and work towards a satisfactory resolution.

  We appreciate your patience and understanding throughout this process. We look forward to the opportunity to rectify any issues and restore your confidence in our services.

  Best,

  *********************

  CBC Settlement Funding 

• Initial Complaint

  06/10/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I completed a transaction with CBC funding when my son was minor to be able to abstain cost for physical therapy needs and financial needs ,After court proceeding they assured me I would be able to sell (2) policies to receive an upfront cost to be able to assist with my sons needs however after the hearing I never received a dime/In fact they told me to follow up with the guardian at liatam and the judge that appointed case/I constantly have stayed in contact with the specialist that assisted with transaction however he has recently stopped answering any other contact after he assured me he was escalating the issue but I still haven’t heard anything back/I have email CBC and my emails are returned as well as made several attempts to speak to other agents/I have contacted judge Secretary who also redirected me to cbc as well as the guardian at liatam and the general of the ******** county clerk house/Upon my son reaching his eligibile age he was only left 5,000 and cbc funding had a disbursement mailed to them the end of May of this year with the feedback from *** **** **** who I also consulted with.I have been very patient and have also tried to level with a resolvement but have been getting a run around.

  Business response

  06/24/2022

  I would like to apologize on behalf of my company regarding any customer service issues that were not handled in a professional manner. I have taken the liberty of pulling your full file from archives and will begin investigating your claim right away. We did however locate a check that was dated 4/26/17 in the amount of $19,500 [The Purchase Price] and endorsed to you [********** ******] (please see attached). I will be in touch with you no later than Tuesday, June 28th, with an update once we have received the full collateral file. Please feel free to call me directly is you have any questions in the meantime at ************. 

  Regards, 

  Mike A*******

  CBC Settlement Funding 

  Customer response

  07/12/2022

  /This situation has not been resolved and I have been trying to contact Mike A***** who stated he would be letting his legal team investigate it upon that I have reached out to legal team and nothing as well /I’m not sure at this point what to do but this is what is goin on as of now I am going to have to seek my own legal department to intercede in this matter.

  
  

  sincerely,

  ********** ******

• Initial Complaint

  05/15/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I signed a contract with these people judge approved April 26, 2022 and to date have not been funded the money I am owed. I get excuse after excuse but no resolution to the problem. This transaction with this company has been nothing but miserable and I want it to be over which means I need my money from them they are in breach of contract and know it. I don't have time to go through all the legal nonsense of breach of contract and start over. I really just need my money and this to be over.

  Business response

  05/26/2022

  We sincerely apologize for any inconvenience. Unfortunately we experienced some delays that were out of our control. We kept ******************** informed throughout the transaction process and sent funds to her yesterday (5/25/2022). She confirmed receipt of these funds. 

  If there are any further questions, please do not hesitate to reach out to me directly. 

  Regards, 

  Mike A********

  ************

• Initial Complaint

  03/10/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  This third party has been, with increasing frequency, delaying monthly supplemental payments. This is not part of the agreement and it has begun causing financial hardships for my family. This payment is a direct deposit (ACH) transaction and there is no reason this supplement payment should be delayed or with held. This company also refuses to return calls, emails and post attempts. Please advise on how to proceed. My phone number is ************ Respectfully,*****************************

  Business response

  03/24/2022

  ****************, 

  We sincerely apologize for any inconvenience this may have caused you. As you are aware, unfortunately we are dealing with significant delays due to USPS. As a result the timing of payments have been severely delayed. To date, we have still not received your March payment from your insurance company. In an effort to expedite payment to you and not inconvenience you any longer, we have floated/sent this payment to you. I believe you confirmed receipt of payment this morning with our Representative, *************************. 

  Please feel free to reach out to me if you have any further questions or concerns. 

  All the best,

  Mike A*********

  ************

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩