Preferred Financial Serices (PFS) / Wayne A. Ahlquist, Lamont L. Wilson, Keith Koltunowicz Preferred Financial Services Corporation (Official name), Preferred Financial Services, Preferred Financial Services, Inc., Elite Financial Services, Inc., Accelerated Financial Services, LLC, Premier UnPreferred FinancialRuin DisServices Andover, Lawrence, Haverhill, Massachusetts
In April of 2010, I unfortunately contacted Preferred Financial Services
(PFS) to help me get out of credit card debt. At that time, I provided
them with my bank information. After paying them $2,2I3.52 via
automatic withdrawal, I called and asked them to stop debiting my
account and to refund what I had paid them because no payments had been
made to my credit card companies. The very rude person I talked to
refused to stop withdrawing funds or to refund what I had already paid
stating that I was bound in contract. (I never signed anything.) I
changed bank accounts in order to stop the payments and wish I had done
that sooner considering how easy it was.
I was not informed upfront (A lie of omission) that PFS would be collecting their own hefty fee in full before
any funds would be paid to my creditors. Needless to say, this created
even greater financial hardship as my unpaid debts grew with interest
while PFS's accounts grew richer. Who would've thought that via
participation in a debt consolidation program that one's debts would
become delinquent and susceptible to negative credit report ratings?
Being unemployed, I was unable to pay both PFS and my creditors
concurrently. After all, I contacted them because of financial hardship
not because I wanted to take on another bill (@ $368.12/mo.).
My credit card companies hounded me incessantly due to lack of payment
and threatened to sue me despite repeatedly informing them of my
enrollment in PFS's debt consolidation program. Frankly, I wonder if
PFS ever contacted my creditors at all.
They are a decidedly "UnPreferred" company who's employees, in addition
to being dishonest, completely lack PR skills. To say the situation
was extremely stressful would be an understatement. Basically,
Preferred Financial Services exacerbated my financial
situation causing crisis; they increased rather than decreased my debt. I
went to them for helpful "Financial Services" as their name implies,
and wound up being harmed instead.
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FYI: 1. I understand that of 27 October 2010, Debt Consolidation
Companies can no longer take their own fees upfront before paying
client's creditors. Wish that were true 6 months earlier.
2. Preferred Financial Services is/was under investigation by the New York State Attorney General.
1 Updates & Rebuttals
DivineALign
USA(Un)preferred Financial Ruin (Dis)services
#2Author of original report
Mon, May 16, 2011
In April 2011, I was told by a Preferred Financial Services (PFS) Customer Services Representative that the General Manager's name is Gabriel Tavaraz and the Staff Attorney's name is Peter Dauksewicz. The Rep. did not recognize the General Manager's name of Keith Koltunowitz. I have sent three invoices to PFS during the months of March, April and May 2011. In these letters, I wrote the following about why I was unhappy with their "services":
PFS failed to inform me about being and Advanced Fee Program.
PFS failed to negotiate with my creditors.
PFS never paid any money to my creditors.
PFS caused me to be harassed by my creditors.
PFS caused me to be threatened to be sued as well as to actually be sued by my creditors.
PFS refused to stop debiting my account after they were notified of other payment arrangements to my creditors.
PFS severely exacerbated rather than alleviating my financial problems.
PFS caused me to suffer considerable anxiety and stress.
PFS lied to me about being in contract, and thus not permitted to quit their program.
PFS representatives was exceedingly rude to me when I requested to get out of the program and for the return of my money.
PFS FAILED TO DELIVER ANY SERVICES TO ME WHATSOEVER.
To date, (May 2011) PFS has not replied in writing or by phone. Now, I intend to contact the following agencies for help:
State Attorney General's Offices of Massachusetts and California
Federal Trade Commission (FTW)
Better Business Bureau (BBB)
United States Organization of Bankruptcy Alternatives (USOBA)
Center for Financial Certification (CFC)
Small Claims Court
Other Consumer Protection Agencies