TILA Violation Scam

[JY3684]

[BassBoy]

Oh no. Please do not tell me you got wrapped in one those debt elimination schemes. I've done much research on just about every one of them, and all of them are scams. Any agency/company that offers a promise of some kind, but wants to put up money first is shady in the first place.

[Credit Hater]

Anytime a company asks for your bank account info so that they can withdraw money from it because they "need to keep the transaction on low radar", then that is a huge sign of a scam. I spoke with 3 different ones. One kept hounding me with phone calls for over a month about when I'm going to get started......another sign its a scam.

I've already had one cc send me a 50% offer to settle. You will probably have to wait a while for this to happen even if it does. Also some of these scam debt settlement companies mentioned that one of my cc companies won't even deal with them but they will help me with dialogue and coach me through it.....heh, please. I know how to tell someone "here is what I have, take it or leave it because my only other option is to take more drastic measures. (and don't say what they are) If they ask, say "no comment".

[uwishtoo]

TILA Violation Scam

I had one of those places that kept calling me after I told them I wasnt interested - once they told me that AFTER I signed up with them and agreed to the repayment plan then they would try and work something out with all the places I owed - I told them to stick it. So they sent me a paper and I went ahead and filled it out and gave them my bank account and routing number BUT what they didnt know is that my account had a stipulation put on it by myself that NO ONE - not even MYSELF - can take anything out of my accounts electronically. I dont even have a debit card - only savings account and I have to do all the transactions in person. So I got them to waste their time going after my bank accounts when they couldnt

[BassBoy]

Wow uwishtoo, that was pretty gutsy. Even still, I wouldn't allow them to have any info on me whatsoever. These schemers (scammers) are pretty clever sometimes.

All that aside, none of these consumer groups that have attempted to go after the lending industry for violations of TILA or that any real money was loaned have ever succeeded. There is an almost countless number of people who got suckered into these scams and they have lost thousands of dollars and thousands have lost their homes.

[uwishtoo]

Wow uwishtoo, that was pretty gutsy. Even still, I wouldn't allow them to have any info on me whatsoever. These schemers (scammers) are pretty clever sometimes.

All that aside, none of these consumer groups that have attempted to go after the lending industry for violations of TILA or that any real money was loaned have ever succeeded. There is an almost countless number of people who got suckered into these scams and they have lost thousands of dollars and thousands have lost their homes.

Yeah its sad when the scams get played on people that can afford it the least. One thing that has always baffled me - why do credit card companies RAISE the interst rate once you miss a few payments ? Duh - if I couldnt afford to pay for the lower rate then whatmakes you think I can do it at the higher one. Visa was really stupid a few years ago - they raised my interest and then kept getting me for interest and late fees and over the limit fees - uh - sorry but I have cards now that if there is not enough there in my credit limit then they decline the transaction - but anyway - I finally said to hell with it - I am not going to pay 150 a month and have it ALL go to YOUR fees and never to my principal. At the time I stopped paying I owed like 8000 then a few years later I called to pay them off and I asked simply what my balance was - I knew it was up over 14000 by then with the interest and late fees and over the limt fees - but I was shocked when the gal said uh, we will settle your account for 3800.00 !! I said WHAT ? Ok, put that in writing, fax it to me and you wil have a check tomorrow ! They actually took off all the fees and then cut my debt in HALF and settled for that ! Now how STUPID is that thinking ? I had tried and tried to work with them to stop the fees and I told them previously that I would pay the original actual debt - but instead of letting me pay off the 8000 they waited and once I stopped paying totally they settled for a fraction of that when they could have worked with me and gotten the whole amount. I loved it !