What Are Some Complaints Against the Life Settlements Company Life Partners, Inc.?


Quick Answer

Complaints against the life settlement company Life Partners Holdings Inc. include complaints about its advertising, sales issues, billing and collection issues and delivery issues, according to the Better Business Bureau. Additional complaints surround the company's guarantees and warranties and problems with its products or services. Life Partners Holdings Inc. is headquartered in Woodway, Texas, and has an overall rating of B minus from the BBB, as of 2015.

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Full Answer

Life Partners Holdings Inc. is not accredited by the BBB, according to the BBB website. From September of 2012 until September 2015, there were 28 consumer complaints lodged against the company, with 23 of those complaints closed by the BBB in the previous year. Of those complaints, the BBB could only verify resolution of one complaint to the complaining party's satisfaction.

Of the remaining complaints, Life Partners responded to four disputes, but did not make a good faith effort to resolve any issues. The BBB has not heard back from 22 of the complainants to determine if their issues were solved. Life Partners did not respond at all to one of the disputes on record.

The Securities and Exchange Commission, or SEC, filed charges against the firm in 2012, citing the firm's involvement in a fraudulent accounting scheme and disclosures regarding life settlements. Two of its executives were accused of inflating the assets of the company artificially in order to practice insider trading using their shares of company stock.

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