Robo-Signing Under scrutiny
At long last, the issue of robo-signing affidavits around debts is coming under public scrutiny. A recent article published by CreditCards.com discusses the relationships between debt buyers and issuers. Robo-signing is a relatively recent issue, with the proliferation of new loans created (and was largely responsible for the housing collapse of 2008).Affidavits are supposed to be sworn statements drawn up the buy the debt buyer to stand in for account records (contracts, account statements) which prove the debt. Those who sign affidavits must swear they have reviewed account data to ensure that the claim is accurate. But many recent court cases, including a massive filing against Chase Corp., have uncovered that debt buyers toss out hundreds, if not thousands, of affidavits a week, without verifying any information. In a landmark class-action suit against debt buyer Midland Funding, company employees admitted to signing affidavits at rates of 200 to 400 a day.Those who issue the debts (Chase is in this group) are often to blame for providing scant and inaccurate information—but the debt collection agencies who snatch up these outstanding debts (both legitimate and erroneous) are also at fault, and being held accountable in a growing number of court actions. After Chase fired Linda Almonte, she blew the whistle on their corrupt practices, filing suit with the FTC and SEC.If a collection agency has harassed you, you may be entitled to money damages up to $1,000.00, based on the FDCPA, which has been around for almost 35 years. The FDCPA is a federal law that applies to every state. In other words, everyone is protected by the FDCPA. The FDCPA is essentially a laundry list of what debt collectors can and cannot do while collecting a debt, as well as things debt collectors must do while collecting a debt. Plus, the FDCPA has a fee-shift provision. This means, the collection agency pays your attorney’s fees and costs. Founding attorney, Michael Agruss, has settled over 1,500 debt collection harassment cases. We want to help you, too.
