• Report: #361889

Complaint Review: Philip X. Tirone - Mortgage Equity Group

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  • Submitted: Monday, August 11, 2008
  • Last Posting: Wednesday, January 20, 2010
  • Reported By: — Pacific Palisades California
Philip X. Tirone - Mortgage Equity Group
11400 West Olympic Blvd, Suite 450 Los Angeles California 90064 U.S.A.

Philip X. Tirone - Mortgage Equity Group, 7 Steps To A 720 BEWARE OF MORTGAGE BROKER ILLEGALLY CHARGING FOR "CREDIT REPAIR" SERVICES Los Angeles California

*UPDATE by author: ORIGINAL COMPLAINT


2Author 1Consumer 0Employee/Owner

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Philip X. Tirone charged us $7500.00 for "credit repair" services and loan approval and never delivered on ether promise -- we lost the $7500.00 and over $100k in escrow on a transaction we couldn't close. He has a radio show and an infomercial, he looks legit but it appears he uses this "credit repair" system to secure mortgage business...

The Credit Repair Organizations Act SEC. 404 (b) Reads; Payment in Advance.--No credit repair organization may charge or receive any money or other valuable consideration for the performance of any service which the credit repair organization has agreed to perform for any consumer before such service is fully performed. Mr. Tirone collected $7500.00 prior to performing any services and in fact, never delivered any services.

The Credit Repair Organizations Act SEC. 409 (a) Reads; Liability Established.--Any person who fails to comply with any provision of this title with respect to any other person shall be liable to such person in an amount equal to the sum of the amounts determined under each of the following paragraphs: (1) Actual damages.--The greater of--(a) the amount of any actual damage sustained by such person as a result of such
failure; or (b) any amount paid by the person to the credit repair organization. (2) Punitive damages.-- (a) Individual actions.--In the case of any action by an individual, such additional amount as the court may allow. We are requesting that Mr. Tirone refund the amount we paid for services of $7500.00

Furthermore, California law requires that companies advertising or offering to improve individual's credit records, history, or rating must be registered with the California Attorney General's Office as a Credit Services Organization and post a $100,000 bond. As of our last verification, we verified that this company does not possess the appropriate registration with the California Attorney General as a Credit Services Organization. According to California Law, it is unlawful for any entity offering to improve or repair your credit to charge fees in advance of performing those services, even if properly registred and bonded with the California Attorney General's Office.

Albert
Pacific Palisades, California
U.S.A.

This report was posted on Ripoff Report on 8/11/2008 11:06:29 PM and is a permanent record located here: http://www.ripoffreport.com/mortgage-companies/philip-x-tirone-mort/philip-x-tirone-mortgage-eq-b42j5.htm.

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REBUTTALS & REPLIES:
2Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Unfair Report

AUTHOR: steve - la (United States of America)

SUBMITTED: Monday, November 16, 2009

I have known Philip Tirone for more than 2 years and he was instrumental in helping me clear up my issues as they related to credit.    He doesn't do credit repair, he teaches you how to solve your own problems.  I don't know the details of this incident but I can only say that Philip did more than he promised and I'd recommend him (in fact I have) to anyone that needs credit advise.

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#2 Owner of Company

7 Steps to 720 / Philip Tirone READ THIS

AUTHOR: Philip Tirone - Los Angeles (United States of America)

SUBMITTED: Wednesday, January 20, 2010

First of all, 100% of Mr. S--- money has been returned.

Second of all - I have been in the mortgage business for more than a decade and have closed over $500 million in loans. In the past few years, I have dedicated my practice to helping thousands of people successfully raise their credit score by following the techniques outlined in my program, 7 Steps to a 720 Credit Score. In all my years in the mortgage business, Mr. S---- is the first to question my honesty, integrity, or the effort I put forth on his behalf.

I am not interested in engaging in a he said, she said dialogue with respect to Mr. S-----'s complaint. Simply put, I disagree with every aspect of Mr. S-----'s complaint. I think my clients, whom I have helped save millions of dollars, would also disagree.

What I would rather do is invite anyone reading this complaint to call me personally to discuss any concerns you might have. Our toll free number is               (888) 453-1901         (888) 453-1901. You can also watch and read the testimonials of our clients online at www.7StepsTo720.com.

Please call me, if you have any questions about this.

Philip Tirone, Founder
7 Steps to a 720 Credit Score


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#3 Update By Author

ORIGINAL COMPLAINT

AUTHOR: Albert - Pacific Palisades (U.S.A.)

SUBMITTED: Wednesday, January 20, 2010

YES, it's true Mr. Tirone refunded our $7500 2 years after the fact and only after the Attorney General forced him to. We lost our home and over $100k in escrow deposits and fees as a result and it took us years to pull ourselves out of that mess.

I remember when Mr. Tirone was ignoring our calls and emails for months while we were losing our home and our money, and then I remember getting a call from his attorney forbidding me to contact Mr. Tirone. Then when I told the attorney our story, he said too bad - sue us! They were arrogant and careless until they got a call from the Attorney General, there are very specific laws protecting consumers against companies and individuals like these.

In a world full of guys telling the same story as Mr. Tirone, why would you go to someone with this track record? There are many reputable resources with real information for FREE or next to nothing. I would steer clear of this group!

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