February 8, 2012

Judge Slaps Bank of America and Debt Collector West Asset Management Over Debt Collection Harassment

CES 2012 – Consumer Electronics Show
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Image by David Berkowitz
Consumer Electronics Show 2012 – Las Vegas, Nevada
(cc) David Berkowitz – www.marketersstudio.com / www.twitter.com/dberkowitz

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A Florida judge says a widow was harassed by Bank of America and debt collector West Asset Management in violation of state law. The “kicker” is that the woman didn’t owe the debt. The harassment ensued because of a debt her now deceased husband incurred on a Bank of America credit card.

Most consumers are unaware that they aren’t responsible for debts incurred by spouses, even when they are deceased. The only time a spouse could be responsible is they consigned on a loan or credit card agreement. If they didn’t then they don’t have to pay.

When a person passes away, all debts are supposed to go through the courts and companies receive any monies from the deceased’s estate, if there is any. Despite that fact, many companies and debt collectors will go to almost any lengths to collect debts from surviving family members, even though the family has no legal obligation to pay off a debt on behalf  of the deceased.

The ruling clears the way for the plaintiff to get punitive damages from the collector, a unit of West Corp., and Bank of America, which is the second largest U.S. bank by deposits. A civil jury will determine the size of the award next year. The latest ruling is part of an August lawsuit filed by Linda Long, a 68-year-old retired office worker, alleging that the debt-collection firm harassed her by calling as many as 10 times a day about ,651.52 that her husband Millard had accumulated on a Bank of America credit card before his death from colon cancer in March 2010.  ~ Wall Street Journal

The Federal Trade Commission recently clarified the rules on contacting family member of the deceased, however it seems that debt collection companies are many times ignoring the regulations. States with weak consumer protection statues regarding debt collection need to strengthen laws to prevent this type of consumer harassment.

 


ABOUT ALLEN HARKLEROAD

Allen Harkleroad is the author of the book “Stick it to Sue Happy Debt Collectors”. The book has saved countless consumer from the clutches of abusive debt collectors and shady debt collection law firms. Allen Harkleroad is a veteran of beating bad debt collectors, whether it defending himself in court or suing them for violating the law. Allen’s latest book ‘Suing Debt Collectors’, is now available book stores and online.

Allen is an avid and judicious consumer advocate who enjoys helping others. In addition to consumer advocacy he enjoys writing and blogging on various technology and business subjects.

FMD Consumer News

Judge Slaps Bank of America and Debt Collector West Asset Management Over Debt Collection Harassment

CES 2012 – Consumer Electronics Show
consumer

Image by David Berkowitz
Consumer Electronics Show 2012 – Las Vegas, Nevada
(cc) David Berkowitz – www.marketersstudio.com / www.twitter.com/dberkowitz

gaveljanjpg

A Florida judge says a widow was harassed by Bank of America and debt collector West Asset Management in violation of state law. The “kicker” is that the woman didn’t owe the debt. The harassment ensued because of a debt her now deceased husband incurred on a Bank of America credit card.

Most consumers are unaware that they aren’t responsible for debts incurred by spouses, even when they are deceased. The only time a spouse could be responsible is they consigned on a loan or credit card agreement. If they didn’t then they don’t have to pay.

When a person passes away, all debts are supposed to go through the courts and companies receive any monies from the deceased’s estate, if there is any. Despite that fact, many companies and debt collectors will go to almost any lengths to collect debts from surviving family members, even though the family has no legal obligation to pay off a debt on behalf  of the deceased.

The ruling clears the way for the plaintiff to get punitive damages from the collector, a unit of West Corp., and Bank of America, which is the second largest U.S. bank by deposits. A civil jury will determine the size of the award next year. The latest ruling is part of an August lawsuit filed by Linda Long, a 68-year-old retired office worker, alleging that the debt-collection firm harassed her by calling as many as 10 times a day about ,651.52 that her husband Millard had accumulated on a Bank of America credit card before his death from colon cancer in March 2010.  ~ Wall Street Journal

The Federal Trade Commission recently clarified the rules on contacting family member of the deceased, however it seems that debt collection companies are many times ignoring the regulations. States with weak consumer protection statues regarding debt collection need to strengthen laws to prevent this type of consumer harassment.

 


ABOUT ALLEN HARKLEROAD

Allen Harkleroad is the author of the book “Stick it to Sue Happy Debt Collectors”. The book has saved countless consumer from the clutches of abusive debt collectors and shady debt collection law firms. Allen Harkleroad is a veteran of beating bad debt collectors, whether it defending himself in court or suing them for violating the law. Allen’s latest book ‘Suing Debt Collectors’, is now available book stores and online.

Allen is an avid and judicious consumer advocate who enjoys helping others. In addition to consumer advocacy he enjoys writing and blogging on various technology and business subjects.

FMD Consumer News

Arizona AG Terry Goddard Charges Bank of America with Mortgage Fraud

Attorney General Terry Goddard announced that his Office today filed a lawsuit against Bank of America Corporation and its affiliated companies (“Bank of America”) alleging violations of the Arizona Consumer Fraud Act and violations of the consent judgment entered in March 2009 between Arizona and the Countrywide companies owned by Bank of America.
Video Rating: 5 / 5

ID Theft, you sometimes forget it can happen to you, here is video I developed to protect yourself so you can take action and be in control of what’s going on around you. MUST SEE LINK: www.wreg.com
Video Rating: 5 / 5

Question by CountessN: Can you remove past information off of your Consumer Profile?
Can a previous employer remove derogatory information off of your consumer profile. My situation is that I took a check for over 300 dollars for a customer purchase and the customer forgot to sign it. I was fired and they put me in a database of some kind so every time I try to find a new job, I have cash register fraud on my background check. Is there a way to take this off of my record? Thanks!

Best answer:

Answer by Nettajay
You really need to clear this up. With internet, everything is forever. I don’t see why a customer not signing a check would be considered a fraud, all someone had to do was call the customer and ask for her signature. Is there something you left out of this story? Anyway, if the store still exist, talk to the store manager and see if you can resolve this issue. If that does not work seek legal help. You do not want this black mark to follow you forever.

Know better? Leave your own answer in the comments!

What websites can I use to post a horrible experience with a bank and warn consumers not to do the same?

Question by shetucksinhershirt: What websites can I use to post a horrible experience with a bank and warn consumers not to do the same?
I had a terrible experience with a bank that gives credit cards to people with poor credit, and I’d like to be able to warn other consumers not to be pulled in by their scams. What websites are easy to access for consumer reports? I’m looking for something that doesn’t charge a fee, if possible, and will reach as many people as possible.

Best answer:

Answer by dtravelbiz
This venue (Yahoo) is really great.

What do you think? Answer below!

Bank of Japan Readies ’Massive’ Liquidity After Earthquake

Bank of Japan Readies ’Massive’ Liquidity After Earthquake
The Bank of Japan may today inject more short-term cash into the banking system after the nation’s most powerful earthquake on record, while keeping its asset- purchase plans unchanged as officials gauge the longer-term effect on the world’s third-largest economy.
Read more on BusinessWeek

China rejects comparison with N. Africa uprisings
China on Monday rejected any comparison between itself and the Middle East and north African countries where popular uprisings toppled autocrats.
Read more on Boston Globe

Joe’s Jeans to Present at the 23rd Annual Roth OC Growth Conference
LOS ANGELES, CA–(Marketwire – March 14, 2011) – Joe’s Jeans Inc. (the “Company”) ( NASDAQ : JOEZ ) announced today that it will be presenting at the 23 rd Annual Roth OC Growth Conference to be held March 13-16, 2011 at the Ritz Carlton in Laguna Niguel, California. The Company’s presentation time is scheduled for Wednesday, March 16 th at 8:30 a.m. (Pacific). The Company’s Chief Financial …
Read more on Marketwire

The Fed’s Credit Report
Mike shows how nothing has changed, any “fixes” offered by government and Fed to ostensibly help the economy end up shifting debt and bubbles around to different places. Now it’s zero percent financing for auto loans, and student loans.
Read more on Business Insider

Illegal Debt Collection/ MidFirst Bank, Consumer Handcuffs self to HUD Office(NAACP/Houston)-Help!

Abused, harrassed, and threaten 16 yrs. after bankruptcy ? Handcuffed myself to (HUD), Housing Urban and Development in Houston, TX on Dece. 6, 2010, in opposition of repayment of 2000 discharged FHA/HUD discharged mortgage debt and Civil Rights violations. Galveston County Court Officials has allowed a crime to go unchecked. This debt was discharged in 2000 by Houston Federal Bankruptcy Judge, Karen Brown. I”m Fed up with illegal tactics by corrupt attorney Steven Leyh, MidFirst Bank/Midland Mortgage, Law firm, Barrett Burke Wilson Castle Daffin Frappier, whom we also sued for attempting to collect 2000 discharged debt. Cenlar Federal Savings illegally re-sold the discharged debt to Aurora Loan in 2002, soon after the discharge. Aurora re-sold the debt to MidFirst Bank in 2005. All 3 re-aged, reported it at the same time on our credit, attempted to collect the bankruptcy, discharged zombie debt. Midland Mortgage services the discharged debt to date. Mortgage wassold and payments made to MidFirst Bank/Midland Mortgage by Fred Mourhousen since 1995. We sued in 2008, but a judgment was entered against us, (it’s called Just-Us). We are being forced to accept the defendants 000 and sign their illeghal never before seen illegal settlement agreement or face jail/fine, without having a fair trial. There was no TRIAL!! We’ve been framed to repay the 2000 discharged fha/hud mortgage illegal debt without a trial. Is this America? No one has ever heard of a consumer being forced
Video Rating: 0 / 5

Over the past 10 years the amount of Canadian debt has doubled, threatening economic recovery. Jeff Schwartz, Executive Director of Consolidated Credit Counseling Services of Canada ( www.consolidatedcredit.ca ) discusses the problems of picking up too much household debt and how to manage your debt on CTV News.
Video Rating: 0 / 5

Question by Tim: How can you consolidate consumer debt if you don’t own your own home?
What are your options if home equity isn’t an option?

Best answer:

Answer by Gillian G
It’s possible you may be able to get an unsecured debt consolidation loan, but you need to be careful to do your research first. There are all sorts of schemes that are little short of scams. But there are genuine options open to you and it will depend on your circumstances as which would be the best.

The first place to go could be your bank. They will know how much you have going in and out and they may have a solution. They should be the easiest people to deal with.

And, it goes without saying that you must get your finances properly organised with a good budget plan etc, so that debt consolidation does not become a trap leading you further into debt.

There’s a lot of advice and information on this website and links you can follow to explore your options.

Good luck!

Add your own answer in the comments!

Bank of America Thaws Foreclosure Freeze

Abusive Consumer @ Westside Welding & Machine
consumer

Image by Dead Air
Abusive Consumer stole the show with a brilliant last minute set of experimental electronics (AKA noise) at Westside Welding and Machine in beautiful downtown Vancouver, WA on Saturday, October 1st, 2010.

If you’re an under-the-gun homeowner with a Bank of America mortgage and you’ve been keeping your fingers crossed that the bank’s temporary suspension of foreclosures would continue indefinitely, you can uncross them. The bank announced today that it would resume foreclosures this month.

CNN reports that Bank of America has examined its processes, and is ready to get back into the foreclosure business.

“We have identified areas of our process that can be improved and while we make these improvements, it’s important that we move ahead with efforts to reduce the number of abandoned properties across the country,” said Barbara Desoer, president of Bank of America Home Loans, in a statement. “The properties can drag home values in neighborhoods and slow the eventual recovery of the housing market.”

Bank of America expects to foreclose on 16,000 homes this month. But BofA will observe a “holiday suspension” between December 20th and January 2nd, so if you’re not kicked out by then, you’ll get a few extra days before you have to pack up and go.

Bank of America to resume foreclosures – Dec. 10, 2010 [CNN.com]

The Consumerist

China to hike interest rates, yuan: Deutsche Bank

China to hike interest rates, yuan: Deutsche Bank
HONG KONG (MarketWatch) — China will embark on more aggressive monetary tightening to combat accelerating inflation in coming quarters, according to Deutsche Bank research. China’s consumer price inflation will rise to 4.5% in November and likely nudge 5% late in the second quarter of 2011, said Deutsche Bank’s chief economist for Greater China, Jun Ma. He said that China would opt for more …
Read more on Market Watch

It Was Really The Lenders Who Put The Lies In Liars’ Loans
I have noted before a family maxim – one cannot compete with unintended self-parody. Andrew Kahr has recently written a column in the American Banker entitled “Spread the Word: Lying to Banks is Illegal.” Mr. Kahr is one of the architects of subprime lending.
Read more on Business Insider

Financial and Geopolitical Intelligence
“Here is the glaring hole in the United States Federal Reserve’s approach to what it calls stimulus, and what history will one day categorize as fraud: You can’t use your own debt to purchase more debt when you can’t repay the original debt.
Read more on GoldSeek.com

$3.6 Million Judgment Against Companies that Allegedly Debited Money from Consumers’ Bank Accounts

At the request of the Federal Trade Commission, a federal court has entered a judgment of more than .6 million against a payment processor and its subsidiary that allegedly debited consumers’ bank accounts illegally on behalf of deceptive telemarketers. According to a 2007 complaint filed by the FTC and seven states, Your Money Access, LLC and its subsidiary, YMA Company, LLC, processed unauthorized debits on behalf of deceptive telemarketers and Internet-based schemes that were violating the FTC’s Telemarketing Sales Rule and state consumer protection laws. The companies played a critical role in these schemes by providing access to the banking system and the means to extract money from consumers’ bank accounts. The FTC alleged that in many instances the merchants either failed to deliver the promised products or services or sent consumers relatively worthless items.

A default judgment entered in October 2008 barred Your Money Access and YMA Company from payment processing for any client whose business practices are deceptive, unfair, or abusive within the meaning of the FTC Act, the Telemarketing Sales Rule, and state consumer protection laws.

The states joining the FTC’s complaint were Illinois, Iowa, Nevada, North Carolina, North Dakota, Ohio, and Vermont.
Source: FTC

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