Re-liance, Inc. is a Christian-based financial services company with its headquarters in Lake Worth, Florida. The company was incorporated in 2001 by Deidre Rodriguez, Enrique Rodriguez, and Frontier Trading Corp. Inc, the parent holding company. The company was included in the Inc 500 list at #452 with a 3-year revenue growth rate of 663% between 2006 and 2009.
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History
Re-liance Inc. is a faith-based financial services company that primarily focuses on residential and commercial mortgage loans and consumer debt settlement services that include foreclosure prevention, loan modifications, auto loan modifications, credit repair, debt negotiation, and mortgage services.
Re-liance Inc was formed in 2001 under the articles of incorporation in the State of Florida by Frontier Trading Corp. Inc., operating today as a licensed mortgage broker and bonded title agency. The company was founded by Chief Executive Officer Richard Enrique Rodriguez in 2001 and has since grown into a multimillion-dollar financial services company with 42 employees.
The company provides negotiation services to American consumers that are near or have already become delinquent on debt they owe, whether it be secured or unsecured, including credit card debts, mortgage debts, or car loans. By negotiating with the client's lender, debt settlement companies are often able to secure lower interest rates, lower monthly payments, or settle the full amount of debt for less than what is owed, all in an effort to avoid bankruptcy.
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Awards
On August 25, 2010, Re-liance Inc. announced the company had been included in this year's Inc. 500, a list of the 500 fastest-growing private companies in the U.S. The company was ranked #452 with a 3-year revenue growth rate of 663%, calculated by the recording of $375,543 in revenue from 2006 to the recording of $2.9 million in revenue for 2009.
Controversy
Re-liance Inc's main services and products are targeted towards individuals who are seeking debt settlement and foreclosure prevention services, operating in a small and controversial industry that has come be known for advertising heavily, requiring large upfront fees from the clients, and in many cases fail to renegotiate the debt in the clients favor, if at all, prompting the Federal Trade Commission to pass a law banning upfront fees charged by for-profit credit card debt settlement companies to crack down on predatory companies and in some reported and high publicized cases, outright fraud. In addition to operating within an industry that has become increasing scrutinized due to massive volumes of consumer complaints, Reliance Inc currently has a C rating, on a scale from A+ to F, with the Better Business Bureau's Reliability Report at the time of this publication. The reasons for the rating include 26 complaints filed, of which 14 have been administratively closed and 12 complaints now resolved.
Source of the article : Wikipedia
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