I saw an ad on Craigslist looking for business partner in loss mitigation business, helping home owners in foreclosure. The business was supposed to help
the home owner to negotiate with the bank to fix the foreclosure problem.
The company is Paul Ashley Financial, the owner Barry Edmonds asked me to pay $3995 license fee to become a business partner and he will do the advertising and I'll answer the incoming phone calls to help home owners in troubles. He promised to fly me out for training and
told me that he would spend $10k on marketing every month and the phone would just keep ringing and making $20k a month is going to be easy job.
NONE of these happened, he made up the excuse that his father in law passed away (he made it up) and canceled the training.
He never spent $10k on marketing, he only put up ad on the Sunday newspaper for 2~3 weeks and provided me a toll free number. I was asked to get high speed internet connection, a fax machine and a dedicated phone line for the business. I paid for all these.
There was no corporate email account, we communicated with public email service (like gmail, hotmail, yahoo).
I was on my own throughout the business, I did all the marketing and generated 99% of the leads, he provided the remaining 1%.
When I confronted him about not spending money on marketing he said that it was going to take some time for things to pick up.
About 3 months went by, I signed up a few clients (the distressed home owners) I found out that Barry was doing something illegal.
He collected money from home owner in default before providing any service. It turned out the he didn't provide any service at all and when the home owners asked for an update, he either yelled at them or hung up on them. As you might expect, the home owner would like to get the money back after such treatment. When the home owner wanted to back out and asked him for money back, he refused.instead he asked the clients to continue to deposit money in his account until it is
up to a amount specified in the contract before he can start working on the case.
This scumbag is stealing money from distressed home owners who are facing foreclosure and need money the most.
After that I confronted him about the way he "took" money from clients and asked him to refund the license fee, which was written in the contract as fully refundable, he refused! He he said I was fired!!! $4k was gone.
Barry Edmonds is a scam artist, he should be put behind bar otherwise other home owners will become his prey.
He also operates other websites:
http://www.american-foreclosure-assistance.com/
Http://www.paulashleyfinancial.com/
Http://uslossmitigation.com/bedmonds/
Http://www.lendinguniverse.com/af/paulashleyfinancial.htm
Http://www.us-loss-mitigation.com
Http://mmawebinar.com/
Picture of scumbag:
http://www.lendinguniverse.com/p/PersonalPhoto/personal_photo_742656_20061228211220.jpg
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