[Collection Specialist]

The below is what a defaulted merchant received today via email. He himself knew it was ridiculous and offered to share with me, I am happy to do the same. Look at the highlighted part I wanted to emphasize. I have deleted the name of the merchant and funder to protect their identity. Unbelievable the lengths these settlement companies go to..




As you may or may not know, that ___________ just filed their “Confession of Judgment” against both you personally and your business in the amount of $ 112425yesterday. The manner in which these judgments are obtained can be challenged in court and possibly vacated (dismissed). We are a consulting firm that represents business owners that are in your position.

WARNING: I'm not sure if they already froze your bank accounts, but they are RIGHT NOW moving to do just that (if you have a merchant processing account for credit cards, they will freeze that also.) This is 100% percent happening in the next 3 days if you bank at a national bank with New York branches. If you bank locally it’s a more involved process. Any account that has your EIN number or your SS number is compromised.

These lenders are EXTREMLY AGGRESSIVE. Be sure you have all your accounts changed to a new bank, both personal and business, ASAP, to prevent them from taking your assets. You need to have an attorney file an action in court for you immediately. These lenders go so far as to contact your clients for payment!! I understand these are very stressful times for you and your family.

The attorney’s that represent our clients take the position that these loans are predatory, they violate usury laws, and are defensible.

http://www.lexology.com/library/deta...e-68e683d69041



You need to have representation immediately, in order to challenge the validity of the judgment and how it was obtained! We provide an attorney to all of our clients with no upfront retainer for the attorney.

If you are already with a “so called” debt settlement firm and they have taken no action to protect you in court, you have chosen the WRONG Company to represent you. I can’t stress this enough. There are many companies that “supposedly” do what we do. They will let these judgments sit and tell you they will settle them. These lenders will “domesticate” the judgment from NY, to your state, and go after your assets both personal and business. It is NOT a difficult process.

http://www.fullertonlaw.com/newslett...-of-judgements



We use a two pronged approach in restructuring your debts. We give these creditors the option of fighting with a law firm that specializes in these cases and risk losing, or settling your debts with Corporate Debt Advisors for pennies on the dollar. Our average settlement including all fees (attorneys included) is .68 cents on the dollar spread out over time, in a time frame you can actually afford.

The founders of our firm have settled over 100 million dollars in debt.

Please give me a call so we can explain the program and set you up with a no obligation consultation with the law firm. Please give me a call so we can explain the program and set you up with a no obligation consultation with the law

[TheFunda]

to find clients by searching court docs is illegal

[Collection Specialist]

to find clients by searching court docs is illegal

Just add that infraction to their list. The rule of law is not something they seem to care a great deal about.

[Sean Cash]

We provide an attorney to all of our clients with no upfront retainer for the attorney.

We give these creditors the option of fighting with a law firm that specializes in these cases and risk losing, or settling your debts with Corporate Debt Advisors for pennies on the dollar. Our average settlement including all fees (attorneys included) is .68 cents on the dollar spread out over time, in a time frame you can actually afford.

Please give me a call so we can explain the program and set you up with a no obligation consultation with the law firm. Please give me a call so we can explain the program and set you up with a no obligation consultation with the law

Best I can tell they are not even a law firm, they're talking about referring you to one. Maybe that's to help a lawyer, if there is one, attempt to work around attorney advertising laws. Sounds shady already.

You know the problem a long time ago with UCCs is that everyone immediately started using them as a free lead source, so funders responded by filing them under code names, and when people started figuring out who the code names were, many funders stopped filing UCCs altogether. The UCC hunters terrorized the local neighborhood secretary of state so bad that it became impractical to file UCCs.

The same thing is happening with the court dockets, especially with COJs. All COJs in this industry are filed in NY state. All of them are free and easy to look up. You can't file a COJ without 10 ambulance chasers pounding the merchant with offers to settle their "debts" or try to reopen the docket to assert some kind of defense even after the judgment has been issued and the docket is closed. The result is never-ending litigation or the constant negotiation of ransoms with companies whose names always seem to have the words "corporate" and "debt" in them. Like Somali pirates, they only need to hit a big load every now and then to make it worth their while to try and hijack every merchant default that sails too close to the coast.


"Nobody get hurts, no Al-Qaeda here. Just business. We want money. When we get paid, everything gonna be okay."
- every debt settlement company

[MidnightAdvance]

And the stories of "oh the merchant got hurt".. when all the merchant did was walk away with a few hundred grand.. only makes it worse.

[Karen37a]

Not all Cojs are filed in NY...some are filed in the county/state of the Funder or their lawyer.( where the coj was drafted or preferred venue )

A long list of them. Where a slick debt relief guy ( who I am sure that's who is behind that letter....they usually have a lawyer "affiliated" to them to avoid mars requiremetns and the FTC ) or and ex pissed off MCA broker who knows the industry like the back of their hand.Will make a case for ( ) and win.

[Karen37a]

Stockbrokers who came thru the DOT Com Bubble Crash....like the "Teflon don" not one lawsuit...learned how to fend off clients who in essence "bet" on the stock market to go UP and when it didn't; wanted their money back.

Mortgage brokers who came thru the real estate crash and massive implosions(They refi the house 5 times and buy planes trains and automobiles then complain when the appraisal value drops and blame the broker who refied them) ...(mortgages are owned by investors...banks packaged and sold them off 90% of the time.)

..... learned how to fend them off as well. ( Massive implosions both times)

They either turned to help the investors ( bank/ firm)_ or went on the other side to debt relief( client) ...or both based on the individual circumstances case by case.

There is a reason some see the debt relief guys coming in advance...they were one.