Future Income Payments

Costumer service has been great.

Everyone has been very helpful.

The only beef I have is the high interest rate on such a small loan but that is to be expected considering my credit.

Review: On June 15, 2015, I entered into a pension purchase contact with Future Income Payments, LLC. All documents were reviewed and signed by me and the income was received as guaranteed. On September 28, 2015, I contacted Future Income Payments LLC and requested to know my Principal Balance and payoff amount. I was then advised that my purchase was a non interest bearing purchase and if I desired to pay off the loan I would have to pay the remaining amount of payments which total $72,558.00 on a $16,000 advance purchase. In regards to the website of Future Income Payments, LLC, contained in the current rates section, [redacted], the rates for pension purchases of federal pensions for 60 months is 6.50% and for 120 months is 7.00%. I am under a 60 month federal purchase with 58 remaining months. I would like to know my principal payoff amount to close this loan. Thank youDesired Settlement: Provide me with the Principal pay off amount as requested and allow me to repay in accordance with Future income Payments, LLC current rates for pension purchases. as displayed on your website [redacted]

Business

Response:

We are in receipt of your letter referencing Complaint ID [redacted] (“Complaint”). A copy is attached for reference.Mr. [redacted] (“Seller”) makes reference to having a loan with us and having requested information regarding his principal balance and the payoff amount. Mr. [redacted] also makes reference to reviewing information on the FutureIncomePayments.com website related to interest rates. We believe there is a misunderstanding of the nature and form of the agreement Mr. [redacted] entered into with us. Please be assured, there was no intent to mislead or provide false information to Mr. [redacted] at any time during the initial process or while the agreement has been in place.Future Income Payments, LLC (“FIP”) purchased a set amount of the income stream generated by the Seller’s pension for a current lump-sum payment of cash. This transaction is virtually identical to the sale of a stream of annuity payments from the settlement of a lawsuit in a structured settlement; but, instead of the cash flows coming from an annuity, the Seller utilized their future pension payments. Due to these facts, these transactions are not viewed as loans and do not contain an interest rate factor.Section 3.10 of the agreement the Seller executed is entitled “Purchase Price Less than Value of Purchased Asset; Fair Consideration,” and explicitly states that “the Purchase Price is significantlyless than the sum the Seller would receive during the Term if the Seller chose not to sell the Purchased Asset under the terms of this Agreement.” Additionally, Exhibit C, Disclosure No. 4 to the Agreement is entitled “Acknowledgement of Discount,” and contains the following disclosure in all capitals, bold and underline: “SELLER WILL RECEIVE SUSTANTIALLY LESS MONEY THAN IF SELLER WERE TO RETAIN THE PERIODIC PAYMENTS COMPRISING THE PURCHASED ASSET.” Disclosure No. 4 then goes on to specifically state the lump sum purchase price the Seller is receiving, the total amount of payments the Seller would have received if they had not sold their future income stream, and the difference between those two amounts.As is stated above, FIP purchases a set amount of the income stream generated by the Seller’s pension for a current lump-sum payment of cash. Concurrent with this transaction with the Seller, FIP transacts with parties interested in purchasing these set amounts of income streams, “Buyers”. These transactions with Buyers are what is being referenced on the FutureIncomePayments.com website, not the transaction with the Seller noted above.We empathize with Mr. [redacted] and wish to resolve any continued misunderstandings as to the form and nature of the agreement he entered into. We would appreciate Mr. [redacted] letting us know if he would like us to refer this matter to our legal counsel for further follow up.Sincerely,[redacted], [redacted]

The staff was very nice and helpful

I'm hoping the funding deposit comes through as smooth. I'll have to say I'm a little worried after reading the reviews but the staff assured me that funds would go as smooth as the process very nice staff indeed.Fingers crossed on the funding .

Thank you Sharon [redacted]

I have several union members who are interested in how this goes with me before they contact this company for funding.hoping to recommend this company

I got this to help pay my daughters therapy bill and I told the ppl how urgent it was and that I only had a few days to pay the bill before her services would be stopped. The lady was extremely kind and said"it's a 3 day turn around" so I was on board. What they don't tell u is that it is 3-5 days "AFTER" u get them all the documents they need, which took a couple days itself. Then they said, "you need to send us this back after u get it notarized with your wife." So I spent money doing that, then the next day they said,"no you need "this" one signed with just your wife" so I had to go spend more money and time getting that notarized! Finally I got them everything they needed and they were actually helpful in getting mine priority and told me, "the funds are being released today." I was so happy my autistic child would be able to get the care she needed...BUT WAIT!...THERES MORE, they failed to mention the OTHER FREAKING 3-5 day hold their bank puts on the money!!! SERIOUSLY!?!? So the whole process is not 3-5 days but more like 2 weeks! Now I understand that they are robbing us with the 60 month pay back at $313 mo. For $4700 which comes out to over 145% APR but I need the money for my baby and would die for her, but if u are going to do that kind of "loan sharking", you should at least make it fast and not have different things being told by each person u talk to and not fully disclosing the TRUE turn-around period from START TO FINISH. And every time I called with questions and pleading for it to be put in my account or even paying the therapist straight, the lady seemed to be getting sick of me calling. Their should be accommodations for persons in dyer straights. USAA does the application and puts the funds in your account in one day,(the same if u need it)Look, your making $25,000 off of my $4700 loan, they have made me feel like everything and everyone else since my gunshot to the head in iraq, "unwanted, used, and wanting us(injured veterans) to just go away. I am just being honest. I started Monday morning and it's Friday and still no money. Now if they clean up a few things, I'm confident they could be a A++ Revdex.com rating. And maybe it's just my experience and I'm being too hard on them...no. But to be fair and honest, if u aren't in a rush and need it, I would recommend them to ppl, just know what you're getting into. We are all grown and can read and do math, so read and do the math, ask questions, and if after all of it it still sounds good...by all means go for it. On the bright side, there were a few...Ms. De [redacted], Ms. [redacted] and Ms. [redacted] were the sweetest and felt so bad for me and tried their best to speed it up and remembered my Daughter's name and constantly told me to hang in there and made me feel they did wanna help.

I would say I was extremely suprised at the customer focus I received from this business. I worked with [redacted] who made sure I understood the process and all the steps required. [redacted] worked to insure I understood my options and tried to get me the very best deal.

I would recommend this business to my family and friends.

Very positive experience

Great, no problems cash advance was handle very quickly and met my needs

thanks

I am extremely pleased with the cash advance that I received from Future Income Payments. I was in a huge financial bind and they came through for me and provided me the funds I needed for my family emergency. The reps were outstanding and they were very professional throughout the process.

Yes I barowed 3200 dollars when I figured it out I'm paying back 15000 my name is David [redacted] . Address is [redacted]

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Great customer service.

I like this cash advance company they were straight up front with me from start to finnish

Review: Hello:I just had a terrible experience with these people and I think the whole outfit is a scam. I first contacted them back in July about obtaining a lumpsum settlement for a few years of my retirement pension. I was in a financial bind and needed some quick cash. I decided then not to do it becuause the terms were just outrageous. I received two text messages today from a woman "[redacted]" who handled my application in July stating a better offer so I called her to proceede with the paperwork. From the very beginning they knew I lived in North Carolina however today after validating all of my personal and financial information including current bank accounts and pension information, "[redacted]" suddenyl cut the conversation short and said she could not complete the transaction becuase I live in North Carolina! They had this information from day one back in July. This made no sense and when I inquired they made excuses and put me on hold numerous times. When I asked to speak to the manager or supervisor, I supposedly spoke to three more women, ALL of whom sounded exactly like "[redacted]" and told me the same story. Now these crooks and frauds have all of my sensitive information and I now have to close out my existing bank account and pension information. DO NOT GIVE THESE PEOPLE ANY OF YOUR INFORMATION! I just filed a complant with the Attorney General's Office of California and with any luck they will investigate these people and close them down. [redacted]The first red flag is that everyone I've ever spoken to at this company speaks broken English. TheyDesired Settlement: I want written assurance that all of my sensitive information has been properly destroyed and that none of my information will EVER be used by them or any people they are in contact with. I also do not EVER want to be contacted by anyone from this "business" again.

Business

Response:

November 13, 2014

4747 Viewridge Avenue, Suite 200

San Diego, CA 92123-1688

Dear Ms. [redacted],

We are in receipt of your letter referencing Complaint ID [redacted] ("Complaint"). A copy is

attached for reference

Mr. [redacted] makes reference to his discussion with a representative recently about a revised

program to receive a cash advance. During this conversation, after validating his personal and

financial information, he was told that the transaction could not be completed due to the fact that

he lived in the state of North Carolina. We acknowledge and agree to these facts as stated.

We sincerely apologize for any inconvenience we may have caused Mr. [redacted]. Our policy had

recently changed to exclude persons from the state of North Carolina but the representative did

not verify the State that Mr. [redacted] lived in prior to her communications with him. This was an

oversight on our part and we have taken steps to improve the training of our representatives in an

effort to avoid a recurrence of this unfortunate situation.

In addition, Mr. [redacted] has requested that his personal and financial information be removed from

our records and that we make no further attempts to contact him. We respect Mr. [redacted]'s wishes

and have deleted his information, including any documents he had sent to us, from our systems.

We have also placed him on our "Do Not Call" listing so that no further communications are

attempted.

Again, we apologize to Mr. [redacted] for our substandard performance and we will work to improve

the customer experience in an effort to avoid any recurrence of this unfortunate situation.

Sincerely,

[redacted], President

They were nice but feel like I was getting the run around an they kept asking for the same paper work I had already sent.

MY EXPERICE WITH THE COMPANY WAS VERYGOOD EVERYONE TOOK THEY TIME TO HELP ME. I UNDERSTAND THAT THE CASH ADVANCE WILL HELP ME PAY ON SOME IMPORTANT BILLS. I AM VERY GRATEFUL FOR THAT COMPANY.

Future Income Payments has been very thorough, prompt and professional in helping me meet an emergency financial need.

Review: I was told that I would get my loan on 20 Feb 2015. That is what the person working on my file said would happen. After talking to him he also told the other 10 people that they would get their money today also. So after calling them again and again all I hear is that he wouldn't have said that and it would take between 3-5 days to get the money. I'm disabled and this has put my in a bind because I was promise that I would get my money on 20 Feb 2015. Future Loan payments need to train their people not to promise people that they will get their money on a certain day and don't deliverer on that promise because you really put people in a bad place that needs that money to take care of stuff.Desired Settlement: I want my loan that I was promise and on the day it was to be put into my account.

Business

Response:

VIA EMAILMarch 9, 2015Ms. [redacted]4747 Viewridge Avenue, Suite 200San Diego, CA 92123-1688Re: Complaint ID 1[redacted]

[redacted]

[redacted]Dear Ms. **,We are in receipt of your email referencing Complaint ID [redacted] ("Complaint"). A copy isattached for reference.We apologize for any inconvenience we have caused Ms. [redacted]. Ms. [redacted] makes reference to herdiscussions with representatives regarding the delay/miscommunication related to receiving thecash advance funds she had contracted to receive. We acknowledge and agree to these facts asstated. Please know that there was never any intent to mislead or provide false information toMs. [redacted].We at Future Income Payments, LLC ("FIP") attempt to provide outstanding customer service toevery person we deal with. This was obviously not the case with Ms. [redacted], who did not receivethe level of service that we want for our customers. In this case, we will review the variouscommunications and call logs at our disposal and use this information to provide further trainingto all our representatives in order to avoid a recurrence of this unfortunate situation.Our Company strives to have customers funded as quickly as possible, which can occur withinthree business days from when all the supporting documents are received. This assumes all thedocuments are in good order and there are no items that require further clarification. There is nota contractual stipulation that funding will occur within three business days. Unfortunately, thecase of Ms. [redacted] was one such instance where we were unable to meet our goal, due in part toconfusion by us, availability of matching funds, and miscommunication of the proper timing ofI events to Ms. [redacted].Based on review of current information, it appears Ms. [redacted] was funded by our partner onFebruary 23, 2015. Based on this funding date, Ms. [redacted] should have had access to the cashadvance funds no later than February 26, 2015. This delay in access to the funds is due tobanking rules and regulations related to ACH transfers and are out of our control.We sincerely apologize for any inconvenience the delay has caused Ms. [redacted]. We will use thisexperience to improve our customer service and procedures in order to hopefully prevent thisfrom happening in the future.Sincerely,[redacted], President

Iwould not tell anyone about this company

As of right now I have no complaints with the company. They have been totally upfront and helpful to me. I was in need of financial aid and they were able to assist.

The representatives were extremely helpful and very professional in my time of need they were curteuous and gave me their first names and extensions and answered all of my questions