Posted by ebautista1 on 3/18/13 8:45am
Msg #461797

Debt Settlement- only want me to sign with borrower

I was asked to do a Debt Settlement Signing by a signing company and as I was receiving the package I realized it didn't require me to notarize. On one of the forms it just wants me to be the presenter/Notary Public and print my name. What do you all think? I've completed a lot of debt settlement packages and customers know exactly what they getting themselves into, but this time it is from a different lender and I'm just not quite sure. Please help?

Reply by Linda_H/FL on 3/18/13 8:46am
Msg #461798

Search here - been discussed. n/m

Reply by 101livescan on 3/18/13 8:46am
Msg #461799

This is not my first choice of work. I do not accept it at all. I think it is compromising our ethics and our values as notaries public. In fact, as you mention, it is not notary work at all, but the chump in the middle. Run.

Reply by MW/VA on 3/18/13 8:50am
Msg #461802

I think you can answer your own question. Many of us

won't do this kind of work & have not idea which one's are scams. Remember, you're the only one they're ever going to see, so if you want to end up being called into court later, then by all means go ahead.

Reply by ebautista1 on 3/18/13 8:52am
Msg #461803

Re: I think you can answer your own question. Many of us

Thanks for the input. I just wanted to confirm.

Reply by BobbiCT on 3/18/13 10:15am
Msg #461806

Notary Public as Debt Settlement Employee/Contractor

There are no documents that require notarization and I doubt the State of California gave you a notary commission for this type work: why are you using the title "notary public" since this is not a function of your office. At least, Notary Signing Agents perform notarizations as part of their function.

If you do this and there are No Notarizations and it is not in your handbook as a function of a Notary Public, cross "Notary Public" out and use some other title ... or none. Personal opinion if later questioned by an attorney or your commissioning office as to "under what authority are you using your notary public commission on this document that you signed?" Just because a company wants you to use the title "Notary Public," doesn't mean it is part of your public official duties. Heck, if you were told put "Doctor," "Attorney" or "Professional Engineer" as your title without needing those qualifications for the assignment, you wouldn't do it.

Reply by Notarysigner on 3/18/13 10:45am
Msg #461807

Re: Notary Public as Debt Settlement Employee/Contractor

Agree....Not Notary Public work and should be pointed out to make it clear.

I once was hired to video tape a deposition by an attorney. I told him anybody could do this and he replied yes but he could "trust" a Notary.

When we started the tape and we went around the room introducing ourselves and our "Titles" I gave my name and said, I am retired and not doing this in any capacity other than I fact I was hired to do this!

I don't do Debt Settements period.

Reply by SpinClose/MI on 3/18/13 11:52am
Msg #461813

Re: Notary Public as Debt Settlement Employee/Contractor

When these first surfaced more than 5 years ago they were actually collecting (sometimes in the form of a loan) $3500.00 from the client who was already in debt and unable to tread water. For moral reasons I refused these once I took a look at the information being presented to the client. Many of the early Mortgage Modifications were also very bad for the borrower, definitly nothing like the HARP Program of the past year.

I do them from a couple of companies, Debt Consolidation companies directly and from one SS that I have an established relationship with. These always contain at least a POA that needs to be notarized. But, you are acting as a Field Representative, not as a notary.

Seems there are many SS's offering this work currently and yes some tell me you don't have to be a notary (they wanted me to cross state line for job assignment).

As for whether all of the work you do is notary work, many times law firms have asked me to act as courier and deliver docs to clients (part of what you are doing as a NSA is definitely courier service, otherwise the borrower would be responsible for shipping docs).

When they stopped loaning money a few years back, even the inspections at $5.00 each kept the cell phone bill paid. Today, we are busy enough to have the luxury to choose to only do loan closings if that is what you prefer.

Reply by GOLDGIRL/CA on 3/18/13 11:44am
Msg #461811

Wake up

They want the "prestige" or appearance of "authority" or whatever that comes with the title Notary Public, but they might as well use the pizza guy or the trash collector. Anybody can do this - tho I don't know why they would, especially a notary. Once again, you are not there in your capacity as a notary (you're actually slumming) - you're there cos you're easy to get ahold of and your SS has figured out a way to make even more $$ off notaries. Don't even think of signing as a notary. This has nothing to do with your commission and could get you in trouble with the SOS if it ever came out. Sign as a "presenter."