ROCKY STEVEN MONTGOMERY is currently employed as a Broker and/or Investment Adviser at PROSPERA FINANCIAL SERVICES, INC. located at 224 Village Square, SUITE 400, Loudon, TN, 37774.
ROCKY STEVEN MONTGOMERY has worked at PROSPERA FINANCIAL SERVICES, INC. since September 15, 2016
ROCKY STEVEN MONTGOMERY has 2 Disclosure Event(s).
Date: November 15, 2011 Category: Financial Type: Compromise Disposition: Satisfied/Released Broker Comment: IN 2006 I MADE A MAJOR CHANGE IN MY BUSINESS MODEL AND BORROWED $500,000 FROM LINES OF CREDIT THROUGH MY BANK AND CREDIT CARDS. BY THE END OF 2009 I HAD PAID APPROXIMATELY 60% OF THE DEBT. AT THE END OF 2009 THE CREDIT CARD COMPANIES CHECKED MY CREDIT AND SAW THE AMOUNT OF REVOLVING DEBT. EVEN THOUGH MY CONTRACTS GUARANTEED MY RATES WOULD NOT EXCEED 6% TO 7% THEY CLAIMED A CLAUSE ALLOWED THEM TO RAISE THE RATES TO AN AVERAGE OF 25% WHICH CAUSED THE PAYMENTS TO BE A MINIMUM OF $4,500 MONTHLY WITH THE MAJORITY GOING TO INTEREST. I CONTINUED TO PAY, BUT THE DEBT WAS NOT REDUCING. ON 11/15/11 I HIRED A GROUP OF ATTORNEYS TO DISPUTE THE DEBT. THE ATTORNEYS NEGOTIATED A REASONABLE AMOUNT WITH EACH DEBTOR, WHICH I PAID OFF IN FULL.
Date: January 11, 2010 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT THE GUARANTEE PROVISIONS ASSOCIATED WITH THE ANNUITY CONTRACT WERE NOT PROPERLY DISCLOSED WHEN THE CONTRACT WAS FIRST ENTERED IN TO IN 1999. Settlement Amount: $73,656.57 Broker Comment: ANNUITY CARRIER OFFERED CLIENT RESCISSION OF THE CONTRACT, WHICH CLIENT ACCEPTED. REGISTERED REPRESENTATIVE DID NOT CONTRIBUTE TO THE SETTLEMENT OF THE CONTRACT IN ANY WAY. GUARANTEE PROVISION OF CONTRACT WAS VOIDED BY MOVING ASSETS WITHIN ANNUITY, WHICH WAS DISCUSSED WITH WHOLESALER AT INCEPTION OF CONTRACT.
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