Financial Wealth Coach Dr. Craig Ponder I hired Dr. Ponder about 2 years ago to serve as my Financial Planner as I was about to retire. I paid him over $14,000 for his service which wsd to include fixing my credit as well as long term investments. He never helped with my credit repair which he charged $3497.00. He did not help repair my credit. Additionally he set me up in a Fractured Security policy in the amount oc $250K which I cannot touch. I feel he is in business for himself. I feel he is a total fraud and needs to be investigated. Ontario California **Author of this Report is NOT CONFIRMED**
Dr. Craig Ponder is a scanner. I was referred to him about 2 years ago as I was planning my retirement. He has a plush office and the majority of his staff is his Family, wife and sons. I put my trust in him thinking he would set me up for monthly income as well as the long term. I paid him for his service which included credit repair as well as investing about $500K. The plans that he used were both Life Insurance policies, one was $250K and the same with the second one which is a Fractured Settlement policy which I cannot touch. I feel that he only looked out for himself. I bought a home during this time and he out me in touch with a loan officer in San Diego , whom I never met, and this person wanted me go put down $96K as a down payment on my home, Dr. Ponders agent. After checking another Loan company my down payment was $50K. I feel completely taken advantage of by Dr. Ponder and feel he needs to be investigated. My main goal at this point is to be able to retrieve my $250K from the Fractured Settlement policy so that I can reinvest to a interest earning account. As it stands today I can't touch this money which I need. I need legal help to get my money back and to put on notice that Dr. Craig Ponder is and does not do what he says he will do for you.
1 Updates & Rebuttals
Dr. Craig Ponder Sr
Ontario,California,
USA
LIES * LIES * LIES * LIES
#2REBUTTAL Owner of company
Thu, September 07, 2017
It is really UNFAIR for someone to be able to post something as a fact, without first getting the other parties side.
This complaint is bogus and unsubstantiated and WAS NOT submitted by Ms. Janice Walker, but by her daughter (Danielle Causey), who is upset at me, because after learning that her daughter (Danielle Causey), son-in-law and grandchildren have lived with Ms. Walker since the day they were married for over 10 years, I informed Ms. Walker, that it was time for them to become independent, so that they would no longer suck up her resources and retirement money.
I have nothing negative or unkind to say about Ms. Walker it was a pleasure working with her and helping her to retire.
Unfortunately, her daughter (Danielle Causey), managed to OVER SPEND $100,000 of her mother’s money in just the first year of her retirement. I was not in agreement with this and could no longer help them and have not spoken to Ms. Walker, since the daughter took over her mother’s finances on June 2, 2016.
I expressed my concerns to Ms. Walker regarding her daughter’s financial choices.
On July 16, 2016 Ms. Walker had her attorney George C. Gonzalez, from Law Office of Parker Stanbury LLP contact me regarding the same bogus issues and on July 18, 2016 my attorney Brian C. Miles, Esq. from the Law Office of MILES & HATCHER, LLP, responded with all the evidence and proof that Ms. Walkers (Danielle Causey’s) claims were false.
REGARDING THE CREDIT REPAIR
RESPONSE LETTER FROM MY ATTORNEY
On April 23, 2015 your client signed a nonrefundable Coaching Agreement with Dr. Craig A. Ponder, Sr. that provided for 9 Months Financial Wealth Coaching and also provided for 9 months of Credit repair services. The Credit Repair Services were valid for 9 months from the date of signing the agreement which began on April 23, 2015.
During the time that my client provided services to Ms. Walker, they were able to have five (5) items removed from her credit report and also negotiated favorable settlements for Ms. Walker. Pursuant to the Agreement your client signed, the services terminated effective January 23, 2016. However, as a courtesy to your client, Dr. Ponder continued to provide services until June 2, 2016.
Throughout the time that Dr. Ponder provided services to your client, your client’s daughter (Danielle Causey) continued to take actions on her behalf that adversely affected your client’s credit report despite the advice of Dr. Ponder. Specifically, your client’s daughter (Danielle Causey) applied for credit prematurely and also kept the balances too high which affected the credit score. Further your client only paid the minimum payments and did not pay off the balances as instructed by Dr. Ponder. Also, after all the work that was provided over the 9-month period, your client’s daughter (Danielle Causey) allowed another account to go into collection, which also reduced her credit score.
The actions of your client and her daughter (Danielle Causey) are the reason that she did not obtain a more favorable result with her credit repair services as provided by Dr. Ponder. As such, given that the services were provided and actions were taken that were against the advice and counsel of Dr. Ponder, your client is not entitled to a refund of the monies that she paid. (end of letter)
REGARDING THE FRACTURED SECURITY POLICY
This was a long-term strategy that would provide future income in 4-7 years and Ms. Walker fully understood this along with her daughter. I assume the problem now, is that they have spent too much money prematurely and the daughter (Danielle Causey) wants access to the principal balance.
Please Note: Keep in mind that the client HAS NOT LOSS ANY MONEY!
Please Note: That Ms. Walker’s daughter (Danielle Causey) sat in on EVERY appointment!
I have been in Financial Services for over 24 years, and I am in business to help people and that is what I do every single day.
It is unfortunate that sometimes after the fact people DO NOT follow the advice of the expert or their advisor and that is unforeseeable. I did nothing wrong and helped Ms. Walker retire successfully.
REGARDING THE LOAN OFFICER
Before Ms. Walker retired she wanted to purchase a home and whatever strategies or choices that were discussed between her and the independent loan officer had nothing to do with me and the reason for the differences of down of $96,000 and $50,000, was based on a 10% or 20% down payment, which is very common when purchasing a home.
Regarding not seeing or meeting the loan officer in person, but over the phone, is also very typical.
I have done nothing wrong, and you will note that the Ms. Walker and her daughter (Danielle Causey) NEVER said that they LOSSED ANY MONEY! The only compliant is that they don’t have access to the money. Again they SIGNED and INITIALED over 70 pages fully understanding and INDICATING THAT THIS WAS A LONG-TERM INVESTMENT STRATEGY and they were provided UPFRONT FULL DISCLUSRES!
Respectfully,
Dr. Craig A. Ponder Sr.