FTC TargetsCred Repair Scams i3 Solutions, SOS Gene Schwalen

Submitted by SherylDownAndOut on Wed, 01/21/2009 - 05:04
Forums

Hi, All,

I wanted to just post this info, in hopes that someone might see it and be warned away from dealing with even ONE of the 36 credit repair companies in this FTC document.

http://www.ftc.gov/os/2008/10/081023sweeplist.pdf

I wish I had searched the web and found this before I had my experience...

Here is an example company and the FTC info for them...

I3 SOLUTIONS INC, GENE SCHWALEN: Cease & Desist issued to i3 Solutions, Inc., Texas (Gene Schwalen, CEO), by NC Attorney General.

Item 1. N Carolina Attorney General Roy Cooper issues Cease and desist letter to i3 Solutions (McKinney, Texas) on March 6, 2008.

Item 2. Federal Trade Commission 'Operation Clean Sweep' crackdown on credit repair companies.

Item 3. NC Attorney General demanded following companies stop charging consumers upfront fees for credit repair in violation of state law: I3 Solutions, Inc., McKinney; Texas, et al.

Item 4. http://www.ftc.gov/os/2008/10/081023sweeplist.pdf

Item 5. Noelle Talley, NC Public Information Officer 919-716-6484. :cry: :cry: :cry: :oops:

Thank you Sheryl for your above post. I am glad you found your way to the forum. I had no idea that there was an "operation clean sweep". I am glad they are finally cracking down on credit repair companies that operate on the shady side. It is these companies that give honest repair companies a bad name. Being in debt happens and there are honest repair agencies out there. More and more people though will shy away from even the good ones because of the others and pass up the help they need. I hope more people take time to look at the list.

Wed, 01/21/2009 - 10:26 Permalink

Thanks, fireyone,

I appreciate your comment...

QUESTION: ....but how will folks distinguish honest firms from dishonest firms? ...they all talk the same language. Or is it as the FTC describes, that if they charge an up front fee, versus pay for delivery, then stay away?

My apologies for posting this extra line, but "Score Optimization System" (FTC Cease & Desist) is how i3 Solutions/ Gene Schwalen labels their SOS product.

Thanks

Sheryl

Thu, 01/22/2009 - 09:31 Permalink
p (not verified)

Im working with i3 right now, my credit is getting better. What the issue with these guys. All i understand from this is you dont want to pay for there service up front is that right?

Tue, 01/27/2009 - 21:43 Permalink

According to the Credit Repair Org Act, a credit repair agency can only charge for their service only after they have completed the repair process which they promised. But most credit repair agencies charge their fees before they start any service and most of them even do not bother to repair your score after they get the money from you. If your credit report has information which is very easy to remove such as unauthorized hard inquiry listing, it can be removed. But if they repair agencies claim that they are going to remove judgments, tax liens and bankruptcies from your credit report, then they must be lying.

Wed, 01/28/2009 - 09:33 Permalink

Okay if they can not collect money up front for their services (which I think is a good idea) then how do they get away with it? This is a great idea if you can get an agency to agree to do business this way. It would cut out the dishonest credit repair people and give consumers a little more security in finding a good repair company. I think most people do have to relize though it is quite easy to get miss information removed from their report by themselves. A quick trip to this forum and clicking on letters of credit can take care of those unauthorized inquires and such. All it would cost then is a few dollars in mailing fees.

Sat, 01/31/2009 - 16:03 Permalink
Shawn Summerhill (not verified)

I was ripped off by I3 solutions! This company is a scam. They take your money and do just a little bit of work just to say they did something. They never did what they said they would do.They would give me the run around when I tried to find out what was going on. When I asked for a refund they denied it. I am putting togethor a case right now and could use some witnesses that have experienced the same thing.

Sun, 07/26/2009 - 00:04 Permalink
davidt (not verified)

I am filing a small claims case against i3 solutions. if you look at the federal Consumer Credit Protection Act, they routinely violate several of its provisions. I had a very similar experience to the shawn summerhill post above

Wed, 07/29/2009 - 23:15 Permalink
Sandy05 (not verified)

Is this company still doing business in Texas? If so, has anyone reported Schwalen to the Texas authorities? His office is not far from my home and doing business as usual.

Sat, 08/01/2009 - 12:05 Permalink

Sometimes these companies will change their names and continue their business under another name.

Sat, 08/01/2009 - 13:16 Permalink

yeah or they will have several companies and pass a debt from one to the other, they call them sister companies. Normally you will hear from one and then if they can not colllect they will pass it on to the next, they usually get ruder as time goes on and they change hands, the closer they get to the statute of limitations the worse they are. Normally all these companies will have something in common, like ownership.

Sun, 08/02/2009 - 05:09 Permalink
one mad dude (not verified)

They are theives and are going to jail soon trust me people are lookin for them, they know where john edwards lives and gene s

Wed, 03/31/2010 - 01:12 Permalink
San Diego (not verified)

I signed a contract with i3 Solutions over 2 years ago for $1,200. Since then, they have disputed a few entries on my credit, but nothing has come from it. I am forced to send emails and call them constantly before any action is taken. I would be insterested if there are any class action lawsuites against them.

Fri, 04/02/2010 - 18:10 Permalink
Mel (not verified)

I was scammed by Mr. Schwalen also. If there is anyone out there that would like to get with me to file a class action suit with me let me know. He did nothing for me regarding my credit. His office gave me the run around every time I called. I have tons of information regarding him and his old office that no longer excists.

Sun, 04/04/2010 - 00:04 Permalink

Thank goodness I haven't dealt with ANY of the 'repair companies' above. I really 'feel' for everyone who has. There was a Credit Repair Company I was going to deal with, in the past. I think the name was 'Credit Counseling Inc.',..I think. I called them for an 'estimate' (type thing..). They called me back with all of the "final paperworK". The first thing they asked me was my bank account number. They never even told me what their fee was, at first!! (Not that I didn't ask a zillion times!!). Be REALLY careful who 'you' deal with. Do lots of research on them!!

Sun, 04/04/2010 - 00:59 Permalink
pissed of fireman (not verified)

iam filling a law suit against Gene S of i 3 and John edwards, please email your contact info to [email id removed as per forum rules] Iam a full time firefighter in california and i know three people who have had nothing but problems with this company. Email me with your info i will call you we can compare storeies and i will put your name on the suit papers. those guys will not show up in court in california because they both know they will not leave. email me.

Wed, 04/28/2010 - 04:27 Permalink
davidjt (not verified)

Mel--I just filed a small claims action and have always thought this company is ripe for a class action. get a hold of me at 510-333-4909. david

Mon, 05/10/2010 - 21:07 Permalink
david jt (not verified)

Mel---get a hold of me at 510-333-4909 about the class action against I3

Mon, 05/10/2010 - 21:13 Permalink
??????? (not verified)

you should have taken care of you debt in the first place, and then there would have been no need to think that you had been scammed.
i am more than positive that atleast one thing was resloved with your credit, and if you didnt hold up you end then i would have cancled you to

Sun, 10/23/2011 - 22:10 Permalink
BC (not verified)

I have also spent $1700 with SOS with absolutely no services rendered. How are you all handling this, I am willing to spend alot of $ to shut this guy down.

Wed, 10/10/2012 - 04:44 Permalink
crorkz matz (not verified)

NT492n Thanks for sharing, this is a fantastic blog.Much thanks again. Really Cool.

Wed, 08/06/2014 - 02:59 Permalink
janet7926 (not verified)

I am willing to file with you this class action lawsuit, where are you in the process.

Thu, 08/07/2014 - 15:16 Permalink
janet7926 (not verified)

I would like to get together and file a lawsuit.. He is still up to the same ole same ole

Thu, 08/07/2014 - 15:22 Permalink
Anonymous (not verified)

Has anyone been able to get a hold gene?

Fri, 04/01/2016 - 04:32 Permalink