- Report: #1191043
Complaint Review: LPI Financial Services Inc - Waco Texas
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LPI Financial Services Inc
8225 Central Park Drive Waco, 76712 Texas, USA
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LPI Financial Services Inc Extortion Waco Texas
In 1995 my wife invested in a viatical settlement with Life Partners Incorporated. She paid cash for a share in the policy and signed a purchase agreement that states ". . . purchaser will not incur cost of any type beyond the amount tendered as the policy purchase deposit." In mid October, 2014 LPI Financial Inc sent her a bill for $ 255 indicating that the bill was to cover future costs of ministering to the policy.
My wife has never agreed to pay LPI for any service other than the initial procurement of the policy, which came with the implicent obligation that she would be notified and paid upon maturity of the policy. On November 12, 2014, she wrote a letter to LPI explaining her position. LPI has not responded to her letter. On November 14, 2014, she received another bill from LPI with the threat that "Delinquent payments will be subject to interest at the maqximum rate provided by law as well as reporting to credit bureaus. Failure or refusal may result in termination of access to platform services." The last threat, presumably, is to deny notification and payment when the policy matures. In other words, unless we pay LPI for services we do not want, need or have ever agreed to, LPI will ruin her credit, compound their fee with interest, and deny payment when the policy matures.
We believe that this bill and these threats are illegal. I notice that I am not the only one reporting on this scheme so there are probably plenty of us in the same boat. Someone may be interested in filing a class action suit against LPI Financial Services Inc.
