Consolidated Credit Company Scams Boating Business

Blue Yonder Pacific, a prestigious boating company based out of California, has begun to face some trouble after failing to respond to a foreclosure lawsuit, the investors of the company lost $41.9 million. It all started when a little dent in the finances led the CEO of Blue Yonder Pacific, Mark Browning, to put his debt in the hands of a consolidated credit company. Consolidated credit companies are bad news as they draw funds directly from your bank accounts. The majority of scams need the debtor to allow the debt consolidation company to draw money directly from the debtor’s bank account. This becomes a critical problem when the debtor begins to struggle more to pay other monthly bills and the debtor also suffers a loss of income. We can all learn from this mistake. Stay away from consolidated credit companies and keep your money business with the bank.

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