I know a lot of notaries who are against debt settlement appointments for various reasons which include low pay, they don't believe in them, they don't know what they are, and the one Luckydog mentioned about "lying to the client representing something you are not and can be held liable". Yes we are notaries, no we are not paralegals, but do we really have no business doing presentations of any sort in any capacity? And can we really be held liable if we disclose our capacity immediately to the client?
I personally do not like debt settlement presentations. The client changes their mind at the last minute, the pay is lower than most assignments, you have to fax back immediately after the appointment, and I think the fees associated with the program seem excessive. However, there is nothing illegal about doing a debt settlement appointment.
I have done a few of them myself. I am not there to judge the client . . . I am there to get their paperwork signed and sent back to the hiring party. I make sure I tell the client that I do not work for the debt settlement company, I am not an attorney, I cannot give any legal advice, I am not a paralegal, and I did not prepare any of the paperwork they are signing. I am a local notary and I am there to collect their signatures and any questions they might have need to be directed to the debt settlement company representative they have been working with. If they have questions, we can pick up the phone and call them. On the paperwork where it asks you to circle your capacity, I cross off all of the options and write notary and initial it. On the presentation where it states that you are "representing" the debt settlement firm, I cross that out and add that I am a notary there "on behalf of" the debt settlement firm and initial that as well.
Credit card debt is rising and a lot of people do not own real estate so there are no magic cash out/HELOC loans for them to get. Many of these people feel trapped in their credit card debt, and after meeting with a few of them, I see that this may be their only option to get out from under all that debt. While this may not be the answer for most, it is the answer for some, and we need to respect their decision.
As long as you properly disclose your capacity in the transaction as a notary, I do not see anything wrong with a notary doing a debt settlement appointment. |
