DOES HIRING A LAWBREAKER TO HELP YOU OBTAIN A LOAN MODIFICATION MAKE SENSE?

The Consumer Financial Protection Bureau (CFPB) has filed an action against a law firm regarding it participation in a loan modification program. The allegations are numerous including making promises about the ability of the consumer to obtain relief and provide certain disclosures required by law.

NEVER PAY ANY MONEY TO SOMEONE FOR A LOAN MODIFICATION BEFORE THEY HAVE GOTTEN YOU A COMPLETED LOAN MODIFICATION

The most important violation was, however, charging fees up-front when doing so violates Federal Law including the Consumer Financial Protection Act of 2010. Anyone who is claiming to help you and charging you a fee for the help before results are obtained is violating the law. So let’s see, would you hire a lawbreaker to keep your money safe or give you financial advice?

I know that no one wants to file bankruptcy to try and save their home. I also know that no one will want to lose their home. Using a lawbreaker is not going to increase your chances of getting a loan modification.

The law is clear. If the person or company claiming to want to help you is so honest and sincere, why is it violating the law. If someone is willing to break one law, are they willing to break other laws? Why would you trust anyone who is knowingly breaking the law.

There is an agency that works to try and obtain loan modifications if you live in the Charleston, South Carolina area. This agency is called Family Services, Inc. and it charges nothing to try and obtain the loan modification. It can be reached at 843-735-5530 and is funded by charitable donations.

Remember, no one can cause a miracle to occur, not even the lawbreaker.

About Nathan Davis, Esquire

Born in Charleston, South Carolina, Nathan Davis has been practicing law for many years. Mr. Davis has a wide variety of experiences having practiced domestic relations, criminal law, social security law having also practiced collection law in the past. This knowledge is helpful when someone needs to restart their financial life. The practice is now primarily bankruptcy and debtor representation work, but, Mr. Davis continues to also practice real estate law, trusts and estates and a general litigation practice. I believe that the most important part of representation is trying to leave you better off when the case is finished than when you started. Although I will do as my client directs, I will always tell you if I think that you are making a mistake. Bankruptcy is about a "fresh start". If you do not make changes in what you are doing, you will be doing what you are doing now in the future. There is no shame in bankruptcy or other steps that you may take to start your life over. Too often, people worry more about things than about themselves, their family or their future.
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