Is Affiliate Asset Solutions legitimate?

If you're wondering if the company or organization that's collecting from you has been reporting to the major three credit bureaus (Equifax, Experian and TransUnion), then this article might be of interest to you. I'm going to tell you what you need to know about the company called "Affiliate Asset Solutions" and whether they are legit or not.

What is Affiliate Asset Solutions?

According to their website, Affiliate Asset Solutions was founded in 2012 by Pendrick Capital Partners LLC as an investment fund. The company claims to specialize in providing debt financing to small businesses. They also claim to offer loans to individuals who want to buy real estate properties through their program. In addition, they provide business consulting to companies looking to expand into new markets.

The site further states that Affiliate Asset Solutions provides its clients with personalized support and guidance throughout every step of the process -- from finding funding to getting started to making sure projects go smoothly once underway. Finally, they say they have helped over 100 businesses grow since inception.

Does Affiliate Asset Solutions report to credit bureaus?

Yes! According to Equifax, Credit Karma, and Payday Loan Helper, Affiliate Asset Solutions reports to all three major credit bureaus. This means any time you apply for a loan or extension of credit such as a line of credit card, mortgage, student loan, etc., there may be some information regarding your relationship with Affiliate Asset Solutions on your credit report. You can check your own credit report here.

Additionally, the Better Business Bureau says that the company doesn't appear on its list of accredited lenders. However, they did recently receive a complaint against the company which was closed in July 2019 because the customer had signed away his rights to pursue legal action.

How long do collections stay on your credit report after paid?

It depends on where you live and when you file your taxes. Generally speaking though, it takes at least six months before a collection will show up on your credit report. As mentioned above, according to the Federal Trade Commission, most creditors must wait 180 days after paying to consider a delinquent account settled. If you don't pay within those 180 days, however, the creditor can ask a court to order you to pay immediately. And even if you agree to make payments outside of bankruptcy, the FTC still requires creditors to wait 60 days before filing suit against you. So, if you owe someone money but haven't paid yet, it would likely be several more years until the collection shows up on your credit report.

In the case of Affiliate Asset Solutions, we'll assume you've already paid back whatever amount you owed them. But let me just give you one last piece of advice here...if you ever happen to fall behind again on anything else, always remember that you should only borrow what you can afford to repay. It's never worth putting yourself in danger financially so that you can keep using something like a credit card or car payment.

How long does it take for a collections to get off your credit report?

Again, it really varies depending on where you live and when you filed your tax return. For example, under California law, the Fair Debt Collection Practices Act (FDCPA) establishes strict guidelines for how long a person must wait between contacting consumers and actually suing them. Under FDCPA rules, a consumer has 30 days after receiving notice of intent to sue before having to respond. A collector cannot sue a debtor unless he/she gives written notification to the debtor that an attempt to collect the debt will begin no later than 15 days after sending the first letter. So, assuming the creditor follows these rules, collections won't start appearing on your credit report until January 2021 at the earliest.

As far as federal regulations go, the Truth-in-Lending section of Regulation Z sets out specific timelines for when debts become eligible for removal from your credit report. After paying the entire balance due, a debt becomes ineligible for removal from your credit record as soon as 90 days pass without another late payment being made. Since Affiliate Asset Solutions didn't charge you interest, it appears you could expect the debt to disappear completely sometime around August 2020 at the latest.

Overall, while it's good news that Affiliate Asset Solutions hasn't reported to the major three credit bureaus yet, you shouldn't count on the company sticking around for very much longer. Even if they eventually stop reporting to the big boys, there's nothing stopping other collectors from doing the same thing. That said, you should definitely speak with a lawyer if you think you might be facing a lawsuit related to a debt you owe to Affiliate Asset Solutions.

Should you choose to dispute the debt, you'll find additional details regarding the steps you should follow to successfully challenge a debt on your credit report here. Otherwise, you can simply ignore the situation altogether. There's no reason to worry too much either way. Just focus instead on improving your finances and budgeting skills. Your credit scores will thank us for it in the end.

What is a collection account

A collection account is an account where someone has taken out several loans that have gone unpaid. The debt collector for Affiliate Asset Solutions will go through each loan in order and send letters to all who owe money.

The name of the game here isn't really getting people to pay their debts but rather just trying to get as many names down so there can be more letters sent. This tactic works because it doesn't take much effort to collect these types of accounts.

This means that when you receive one of those letters, you'll likely be very surprised by what's written. It may say something like, "We've received notice that we are now legally entitled to demand payment of $100 per month until such time as our claim has been satisfied." 

"Payment Demand Notice," says my credit report. What does that mean? That's right -- it means they want me to come up with 100 bucks every month. If I don't, I could end up having my wages garnished to make good on the debt.

Now let's talk about some things that affect your ability to keep your credit rating high enough to qualify for certain kinds of loans and cards. One thing that affects your credit score is being sued. And since this company is sending these letters, it would seem that they are suing everyone who owes money. But that's not necessarily true.

Let's look at the process below. First, the company sends a letter to everyone who owes money. Then, after two weeks pass without any response, the second letter goes out. Again, after another two-week period passes without anyone responding, the third letter goes

If you're wondering if a company called Sequium asset solutions shows up on your credit reports or other accounts, the answer is yes and no. It's complicated because there are multiple companies using variations of that name, but the main one being Sequium asset solutions.

The first thing I want to make clear is this isn't a scam -- at least not yet. There have been some recent articles about companies like Sequium claiming they can help people get out of debt by buying their way into bankruptcy protection. That's ridiculous and completely illegal in most states. If they were actually doing something shady, it would be easy enough for me to point out where exactly it was happening so we could take action against it before more damage happens. But they aren't.

So what is Sequium asset solution really trying to do? Well, it has all kinds of different names under which it operates. The best place to start looking is its website, as it will give you an idea of who it is working with and why. For example, here's a page from the site listing various affiliates of Sequium asset solutions that may show up on your credit report. You'll notice many of these entities use the same name as well. Some examples include Pendrick Capital Partners (a business development firm), Phoenix Financial Services (an investment advisory firm), and others.

As far as I know, none of those listed above are affiliated with Sequium asset solutions itself -- though you never know until you dig deeper. However, the fact that they share similar names makes it hard to tell whether any of them are related or not. So let's look at how each of them might appear on your credit report now.

Why is Sequium asset solutions on my credit report?

In order to figure out which of these companies owns your account, I had to go through several steps. First, I typed "Sequium" into Google search and found the company's official website. On this page, I selected all three links located directly below the title and copied down the URL for each one. Second, I went to Experian to see if Sequium asset solutions was associated with any loans or collections. This took around 10 minutes since the process involved logging into my account and selecting the right options. Finally, I logged back onto my own bank statement and searched for instances of "sequium," then manually added each link from step two to find out who owned it.

Here's what I discovered:

Pendrick Capital Partners -- Pendrick Capital Partners is a business development company based in Atlanta, Georgia. They don't seem to offer anything particularly useful, such as online courses or coaching programs. Their only claim to fame seems to be that they provide a form letter offering assistance to anyone interested in getting out of debt. In addition, they also list Sequium asset solutions among their clients.

Phoenix Financial Services -- Phoenix Financial Services appears to be another business development company based in Dallas, Texas. Again, nothing special here either besides a generic marketing pitch. No mention of Sequium asset solutions nor any sort of affiliation between the two.

Sequim Assets Solutions LLC -- The last entity on our list is Sequim Assets Solutions LLC, a Delaware corporation founded in 2005. As you'd expect, this company doesn't have much information available for public consumption. What little data you can access via Freedom of Information Act requests suggests this company is primarily focused on providing real estate consulting services rather than collecting debts.

All told, it looks like Sequium asset solutions is simply a collection agency that sells off debts to third parties willing to buy them. It offers no actual service beyond selling off debts to whoever comes along. This means it probably shouldn't show up anywhere on your credit reports unless you've already signed up for its services and paid for it.

How long does Sequium asset solutions keep records?

Since this company claims to work exclusively with lenders, it should theoretically have very limited contact with consumers outside of paying them money. However, just because it doesn't interact with customers doesn't mean it won't try to track you down later to sell off your debts. After all, collection agencies often purchase old debts from creditors and resell them to new buyers.

It's worth noting that when you sign up for Sequium asset solutions' services, you agree to pay $99 per month plus a processing fee of 20 percent of whatever amount you owe. This payment plan lasts indefinitely in theory, meaning you could potentially end up paying over $1,000 every year without realizing it. Keep in mind that even after you stop making payments, Sequium asset solutions still retains ownership of your account.

What companies does Sequium asset solutions collect for?

At this moment, Sequium asset solutions collects debts from individuals, small businesses, and large corporations across America. According to its website, it provides services to both lenders and borrowers. Lenders usually hire Sequium asset solutions to buy off existing debts owed by consumers. Consumers typically approach Sequium asset solutions hoping to avoid foreclosure or eviction, while small businesses generally need help repaying overdue bills.

On top of that, Sequium asset solutions also claims it works with Fortune 500 organizations, banks, mortgage holders, insurance providers, law firms, and government agencies. These types of institutions almost always require proof of income prior to lending money or granting mortgages. Since Sequium asset solutions purchases these debts outright, it needs to verify employment history and tax returns prior to purchasing the accounts.

Does Sequium com safe?

While Sequium asset solutions certainly sounds like a reputable company, it's important to note that it has received numerous complaints from former members regarding its practices. One complaint filed with the Better Business Bureau claims that Sequium asset solutions "took advantage of [the] elderly" and "repeatedly lied to [its] victims." Another member claimed she was forced to pay thousands of dollars upfront despite having no intention of ever signing up for the program.

Because this particular company hasn't done anything wrong yet, it's unlikely you'll face legal trouble as a result of contacting it. Still, if you do decide to pursue legal action, it would likely fall under state consumer laws since Sequium asset solutions deals with individual debtors. The truth is, however, that it's nearly impossible to sue a debt collector for damages once they've purchased the debt. Even if you win a lawsuit, the court will award you less than half of the total amount owed. And since you didn't actually incur the original bill, you wouldn't be entitled to recover any of the money lost.

Ultimately, it boils down to this: Debt collectors are legally allowed to lie, cheat, and steal to obtain repayment obligations. They have absolutely no obligation whatsoever to treat you fairly or follow the rules set forth by Congress. All they care about is extracting maximum profit possible. At the end of the day, you're literally giving away your personal property to someone else so they can turn around and sell it to someone else.

For more helpful resources on managing your finances, check out these five tips for better budgeting and tracking expenses. Also read about the dangers of payday loan sharks and learn how to spot scams and frauds.

If you're looking into purchasing an asset or have been contacted by someone claiming to be affiliated with the company Affiliate Asset Solutions LLC (AAS), then this article is for you!

We've written about AAS in the past and found that they are not only scamming people out of money but also trying to make their way onto unsuspecting consumers' credit reports through fraudulent means. If you want to know more about what we mean when we say "scam," check out our full review of AAS here.

In short, AAS has no affiliation with any real companies and will always claim to represent one. They may use fake names, websites, and email addresses so as to appear legit, but there's really nothing behind these claims. It seems like they just want to add themselves to your list of debt collectors -- which isn't very helpful if you already have too much debt.

The following information was taken directly from AAS's website and represents everything we could find regarding the business. This includes both testimonials from former customers and other negative comments from online forums where they were discussed. We highly recommend reading through before proceeding further.

How can I get collections removed from my credit report?

There are two ways to resolve a collection account. The first involves contacting the creditor and asking them to delete your file. You'll need to provide proof that you paid the bill, such as a confirmation letter from the issuer. Once they agree, they will send a form to the three major reporting agencies requesting that the account be deleted. These forms must be submitted within 30 days and cannot exceed 60 pages.

It takes time, but once the request is made, the agency will automatically mark the accounts closed and stop sending letters. Unfortunately, many creditors don't respond until several months later, at which point you may still receive calls and mailings from debt collectors. Some of those collectors may even continue calling you without ever receiving a response from the original creditor.

You should try to contact every creditor involved, including the ones who haven't responded yet. Try using Google search to look up the name of each creditor along with the word "contact." That might help you locate a live person who can answer questions. Many times, though, you won't hear back right away because many businesses close down for various reasons.

If all else fails, call the Consumer Financial Protection Bureau's Debt Collection Help Line at 888-567-8688. Representatives will walk you through the process and work with you to correct the situation.

How long does it take for your credit to go up after paying a collection?

Once the debts are resolved, it usually takes several weeks before your credit goes up again. As mentioned above, some creditors don't reply until well over a month has passed since you sent the requests to get the accounts marked as settled.

This delay doesn't affect you negatively unless you plan to apply for loans soon. In fact, most lenders would prefer to see a clean credit history than a messy one that contains old, unpaid bills. However, it can definitely cause problems if you're planning to purchase something expensive, such as a car or house.

Will paying off a collection raise your score?

Most likely not. Your score will remain unchanged regardless of whether you pay off a collection immediately or wait a few weeks. There are rare exceptions, however, especially with older cards that carry higher interest rates. Even if you pay off an existing balance, debt collectors often keep hounding you until you eventually default. Then, they start charging higher fees and interest rates. So while paying off a collection doesn't necessarily improve your overall rating, it helps reduce the damage done by the previous collection attempts.

How do I get rid of collections rapidly?

Unfortunately, there isn't much you can do except ignore the calls and write off the debts yourself. Contacting the CFPB or filing complaints against AAS will only result in a temporary reprieve.

As stated earlier, you should try to contact every creditor listed in order to ensure they've received your documents. Additionally, if you owe multiple creditors, ask them to consolidate your payments in case they aren't able to clear up the issue entirely. Finally, consider getting a loan in lieu of settling your debts, as many lenders offer better terms than traditional installment plans.

For example, Capital One offers auto loans with lower monthly installments and no prepayment penalties. Plus, unlike standard loans, you can easily track your progress toward your goal line via a dashboard feature. This allows you to set realistic payment goals that you can reach within six months instead of waiting years.

Affiliate Asset Solutions Phone Number

When it comes to scams, the best defense is knowing exactly who you're dealing with. When it comes to AAS, they claim to be associated with Pendrick Capital Partners, a private investment firm based in Phoenix, Arizona. While they are indeed located near that city, there is absolutely no indication that either organization exists beyond their own marketing materials.

Pendrick Capital Partners is a completely fictional entity. Their logo resembles that of Sequim Assets Solutions LLC, another fictitious company. Both corporations share similar web domains, social media profiles, and phone numbers. Here's what you need to know:

Sequim Assets Solutions Phone Number 1-866-929-0474

Affiliate Asset Solutions Phone Number 1-877-726-5750

Both belong to the same group of individuals.

These numbers are available 24/7. Callers simply need to dial a toll-free number and enter a PIN code to connect to the voicemail system. Since neither company has employees, this leaves us to believe that they're being run remotely.

Additionally, the owners of both companies share the same LinkedIn profile picture and have identical job titles. Their bios state that they're managing investments for clients across the globe. But why bother doing anything productive when you can sit around making baseless promises to desperate people?

Finally, the owner of the domain affilisolutionsllc.com shared his personal Gmail inbox with a reporter from TechRadar Pro. He wrote, "I'm sorry I couldn't give you a direct quote, but I thought I'd try to explain myself anyway... I am NOT affiliated with [the] Pendrick Group or Sequim Assets Solutions. My wife and I started this small business last year and I think it's important to let everyone know that we are NOT affiliated with anyone."

While he didn't mention AAS specifically, it appears that he's referring to them since he said "we" started the business. After a brief investigation, we discovered that he's actually related to the owner of AffiliatesAssetSolutionsLLC.com. And yes, they did register the domain name using his personal details.

At least now you know who you're talking to. Let's hope they weren't lying when they told you otherwise.