Real Estate Notes-Asset Ventures/Tony Martinez - Non Payment of Notes

[Patricia Gammage]

Need suggestions on how to get Asset Ventures LLC and Tony Martinez to pay notes that are past due.

Asset Ventures LLC and Tony Martinez advertise themselves as a note dealer and servicer company, established with the intention of facilitating the purchase and sale of Notes for Investors. Asset Ventures and Tony Martinez advertise on real estate investment sites and makes presentations at real estate investment conferences in various states.

The problem is that Asset Ventures and Tony Martinez do not pay the investors back. See the details below.

On December 31, 2012, I purchased a short term note (due April 30, 2013) from Asset Ventures/Tony Martinez. To date Tony has only re-paid a portion of the investment and, although interest continues to accrue (according to Tony and as stated in the note), no interest has been paid.

Last year, when I began to making other investors aware of the situation, Tony had someone from a law office contact me and suggest that I allow Tony to work out a payment plan-which I did. Tony made 2 or 3 payments, the payments ceased and I haven't received a payment since October 2013 - although I have over a year's worth of emails from Tony in which he stated that my investment was secure; he made one after another commitment to pay; he stated that I would receive the balance of the amount due either that week or that month or that a check had been sent (although it hadn't).

I had been thinking that possibly, I was the only investor to whom Asset Ventures and Tony Martinez owed money. But recently, I saw complaints on the "Rip-off Reports" website where investors in Texas were experiencing the same issues with Asset Ventures and Tony Martinez (i.e., non-payment of notes and a series of untrue statements when questioned about payments due). Whatever one may think about the Rip-off Report website, it is noteworthy that similar complaints have been posted by investors in 2 states (California and Texas). In fact the comment from one of the investors in Texas was: "Asset Ventures, LLC -- Tony Martinez Serious Trouble in this Business. He does not pay back loans, does not pay the interest on the loan and repeatedly lies."

So, I'd appreciate any suggestions that you may have regarding how to obtain payment from Asset Ventures and Tony Martinez on this past due note.

Thanks in advance.

Pat G.

[Ellis San Jose]

It's best to hire an attorney & perhaps contact the Attorney Generals office & file a complaint.