Posted by LisaWI on 5/31/11 10:51am
Msg #384761

Debt Settlement Fraud Site

I came across this site doing some research on Debt Settlements for Wisconsin. Pretty interesting stuff on here concerning debt settlements.

http://debtsettlementfraud.org/

Reply by aries/CA on 5/31/11 11:42am
Msg #384765

Thanks for the info. I've been getting calls and email of companies wanting me to do Debt Settlements, but I tell them, I don't do those types of assignments.

Reply by LisaWI on 5/31/11 11:54am
Msg #384766

Same here at this point Im not doing them either. Our network is having a discussion on these and a healthy one at that. (((((Yeah Network!)))) I would like to offer my services in facilitating these, but protecting my reputation and career comes first. Im sure their are comps out there who are on the up and up that do these, its just a matter of finding them.

Reply by MW/VA on 5/31/11 11:56am
Msg #384767

Thanks for this important info. We are all getting calls

or emails for this kind of work. I won't touch it, anymore than the loan mod app. scams.
I also wish more states were as agressive as WI in keeping consumers informed.

Reply by LisaWI on 5/31/11 12:05pm
Msg #384768

Re: Thanks for this important info. We are all getting calls

Not sure if I should toot the horn or not, but our network is quite active with our state on these issues. We seem to be acquiring a big voice that they are actually listening to.

Reply by Linda_H/FL on 5/31/11 12:24pm
Msg #384769

I did one week before last - my first one

All the information pointed out in that article was included in the contract AND in the one-page presentation I had to read. The signer was very well informed, there was contact info if any questions, my position in the process was made clear to him and he understood and gladly signed.

I'll do them again providing the same strict procedure and protocols are followed...this one was very encouraging for this skeptic.

Reply by Teresa/FL on 5/31/11 12:34pm
Msg #384770

Linda - Was this an assignment you received through a SS?

The reason I ask is I was called by a SS last month to perform one of these signings. Since there were no notarizations required, I turned them down. I don't know the name of the actual debt settlement company, but decided not to be involved since a notary was not required.

Reply by Linda_H/FL on 5/31/11 12:40pm
Msg #384771

It was from U.S. Legal Group...not an SS as we know them... n/m

Reply by jojo_MN on 5/31/11 12:45pm
Msg #384772

Re: I did one week before last - my first one

http://www.consumeraffairs.com/debt_counsel/debt_consultants.html (this site has complaints from individuals that have used this route)

There are some companies that are on the up and up. The states provide free assistance to individuals that need these services.

The ones I'm talking about are the ones such as "Law group" associated with two other companies. None of which has an address or contact information anywhere in the paperwork.

Yes, the customer does agree to it in advance because they are desperate.

We are required to watch a five minute video, so therefor, are "trained". If you read further into them, you see that they are paying over $395 for "legal fees" and only $60 towards savings for a few months. The customer ends up paying more for the monthly "legal fees" than anything towards the payoff to the debtors.

They give the credit card/bank information so the monthly fees will be deducted automatically.

I'm not an attorney, etc., but I would have one look over these documents before you become part of this. JMHO

Reply by Linda_H/FL on 5/31/11 12:53pm
Msg #384773

In the one that I did, the signer had been

provided copies of everything several times prior to my appointment and had looked everything over and gone over it with his rep - and I confirmed he'd done that when we first sat down. I was very comfortable with it.

Now, if they're not all like this, and the signers are not informed and well aware of what they're getting into, I'll walk and won't continue the signing.

Reply by NJDiva on 6/1/11 8:03am
Msg #384837

I too...

did one of these.

All of the companies information was available, I left him a copy, AND he had a Right to Rescission of a MONTH.

It turns out he canceled a month later. The only reason I knew it, was because the guy cc'd me on his cancel email which he preceded with a formal letter he would be sending. Its funny because he clearly said, I've cc'd the notary on this email.

When he was signing the doc's I told him that I was a notary but not necessarily serving in that capacity since there were no notarization's needed. I also told him I was an independent contractor and though I represented the company I was not an employee. I informed him that I did not benefit one way or the other whether he signed or not. He requested one of my cards letting me know if he ever needed a mobile notary he would give me a call.

Not sure what his reasons were, but I would assume that it would not have been monetarily advantageous of him to follow through with it.

Reply by Linda_H/FL on 6/1/11 8:59am
Msg #384841

Re: I too...

"I also told him I was an independent contractor and though I represented the company I was not an employee."

I don't tell them I "represent" the company - I tell them I'm there "on behalf" of the company... and like you, I'm an IC...

Reply by NJDiva on 6/1/11 9:13am
Msg #384844

good one!!

I like that, "on behalf of..."