- Report: #1190331
Complaint Review: LPI Financial Services - Waco Texas
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Author Confirmed
Why?
LPI Financial Services
8225 Central Park Dr. Waco, 76712 Texas, USA
Phone:
254-751-7797
Web:
Categories:
Business Rating:
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LPI Financial Services aka Life Partners Inc.` Life Partners Extorting Fees from clients and threatening "foreclosure on ,policy, interest" Waco Texas
LPI Financial Services, Inc aka Life Partner Inc. provides clients to purchase "viaticals". These arrangements allow for the purchaser to buy an interest in an individuals life insurance policy, and allows the insured to use these funds during their lifetime for needed expenses.
LPI's own agreement, under "Acquisition Costs", states that "LPI's fees and wervies provide in the performance of its duties shall be completes and inclusive in the policy purchase deposit and the "purchaser' will not incurcosts of any type beyond the amount tendered as the policy purchase deposit" ...i.e. $5000.
Since this agreement was signed, LPI has requested a total of approximately $111.00 from us, which we have paid.
Now LPI is demanding another payment of $255 annually in order to preserve the original agreement, or "Failure to pay premiums could result in an abandonment and foreclosure on the interest."
This appears to be an illegal attempt to extort funds from past clients !!!!
