Posted by ARNotary on 6/28/08 1:36pm
Msg #253507

Beware Paul King at Stone Street Capital, Bethesda, MD

Although I rarely post here, I wanted to pass this warning along as I've benefited from many posts I've read here over the past 4+ years and would like to return the favor.

Paul King, "Account Executive" at Stone Street Capital in Bethesda, MD contacted me to do notarizations for a Structured Settlement a month ago. Having not done business with this company before, I was not comfortable putting my SS# on a fax back confirmation for a one-time job (required on the confirmation/invoice) and told him I would have to pass on the job. He assured me I would not have to give my SS# and told me he would have my check out to me the following week as he would pay it himself. When I called to let him know the signing was complete (his request) he realized the appointment took longer than the 30 minutes he said it would take and so, nice guy that he is, he told me that he would add on another $25.00 to my invoice to compensate me. He offered - I did not request a higher fee.

When I hadn't received the check by June 19th (*3* weeks later), I contacted him and he apologized and said he would mail it out the next day. When the check had not arrived by the 25th (plenty of time to get to me if mailed when he said he would mail it), I contacted him again and he said that he would FedEx it to me the next day and would email me the tracking number - "that's the least I could do" - his words. (I'm sure you can tell where this is going.) No, the tracking number did not arrive the next day (big surprise, huh?) and when I threaten to take further action he claims to have been out sick and will send it as soon as he gets it (yesterday). Having still not received it late yesterday afternoon, I email him and ask for the tracking number and he emails one back. It does come up, but it's status hasn't changed from "Package data transmitted to FedEx" since 3:44pm yesterday. I guess he thought sending a tracking number for a package he never intended to send would fool me.

I hope sharing my experience with Paul King and Stone Street Capital prevents someone else from being ripped off by this guy. Notaries beware!

Reply by Sylvia_FL on 6/28/08 1:41pm
Msg #253509

Couple of things.

First get an EIN number and use it instead of SS#.
Second, Package Data Transmitted to Fedex, means they have sent the info to Fedex and Fedex hadn't picked it up at the time you checked. Sometimes I have received a package and the Fedex tracking was still showing Data transmitted.

Reply by MistarellaFL on 6/28/08 1:50pm
Msg #253512

You will be paid, albeit slowly.
Although their confirmation states 7-10 days, I had to email them a couple of times and hear excuses "you didn't get it? we'll send another check...to what address?" before finally receiveing my check some 30+-ish days later.
They pay, but not in the time frame they promise, but inline or better than most SS.
FWIW

Reply by C. Wayne Moore on 6/28/08 2:45pm
Msg #253522

Worked for them once. Took a lot of calling and faxing of invoice to get paid. But they do eventually pay.

Reply by MW/VA on 6/28/08 5:12pm
Msg #253538

I did one for Stone Street on 5/26 & had my check on 6/18. My contact was Dennis James & he was great to work with. I checked my paperwork, and I had provided an EIN. I'm guessing they won't pay without a taxpayer ID--many companies won't.

Reply by Linda Juenger on 6/28/08 8:39pm
Msg #253561

I have done 3 structured settlements for the same borrower through Stone St. Never a problem at all.

Reply by Serina/VT on 6/29/08 7:42am
Msg #253591

I too have been ripped off by Stone Street Capital. I did one settlement for them with the wife of a deceased that was ok and got paid for in 3 weeks. Then a different person contacted me to do one for the son. Doc didn't arrive, emailed him and he stated the docs went to the son. Son said he had no docs. This was set for a Sat morning and the Son had to leave on an out of state trip. Called the man at Stone Street (woke him up) and he said he could access the docs from home and send them to me in 15 mins. Waited, waited, waited, called, no answer, called Son, no docs on his comp either. The appt was for 10 am and I had a 12 pm to go to, so I said, ok we have no docs to sign, I have to go do this other appt and will do yours after IF you have docs. Of course it was EOM and the Stone Street guy wanted his Comm. So I had to leave home. Get a call an hour later the docs were sent to the Son who was told to print them out on his ink jet and take em to the local real estate office to get them done for FREE. I was so mad, I had been the one to alert the Stone Street guy to the fact the docs were MIA, I spent 2 hours waiting for them and at least 6 calls, hurried thru my 12 pm appt only to get a VM on my cell (turned off during the 12 pm) that they found someone else. For FREE. I send them a bill for $50 and doubt I'll ever see it but I also do know for a fact I will NEVER take another assignment from them again. So beware, they have no clue what they are doing.