Hi folks! I am now just awaiting my bar results and a couple of friends are already licensed and ready to set up. I would appreciate feedback as to how we should gear our services in credit and consumer law. This board has been invaluable to me in many ways and I will not forget it. I have been doing research on law firms that deal with credit laws and there seem to be very little or there are the usual credit repairs ones. We are not aiming to be a credit repair firm, that you can basically do one your own, I think it would be most helpful in the later stages when CA's are in violation and CRAS are violating as usual or if the creditor's are acting up. But I would really like your feedback on this. I know I have mentoned before my interest in this field. The more research I have done the more it appeals to me to be able go after the CRA's and CA's and help people restore their credit, peace of mind and make money in the process. This is just a testing of the waters and since I do respect the thoughts and views on this topic by many of you, I look forward to your comments. Thank you
I wonder if somehow this site and others could be used by law firms to document specific abuses by individual CA's and the CRA's with the ultimate goal of hitting the entire industry with a RICCO lawsuit? The $1000 fines are really just a cost of doing business. No deterent at all. But, a concise listing of hundreds of complaints with a common theme or themes may well change things. Good luck in setting up shop. Hopefully a firm specializing in consumer rights will find a niche and will serve your ommunity well.
Thanks, keepmine for the comment! We are thinking along those lines, because these CRAS and CAs get away with too much on a daily basis, your right $1000 is just a slap on the wrist. I know its a bold move but the only way to get action is to really dent their bottom lines.
Killer: I am not soliciting any business at this time because we have not set up yet and there are ethical rules we have to follow about solicitation, but I would not mind consulting with you about your case and perhaps point you in the right direction.
I think your idea is great, Cypri. I don't know if you'll get rich doing it, LOL, but there's plenty of business available, LOL. I also believe that the CRA's could be sued under RICO statutes. When you set up shop, be sure you set up on the web
Cyprigirl, Please email me at killer411@hotmail.com. I've done some additional research and something very fishy is going on with this CA. I think they are doing something very illegal.
Cyprigirl, I think its wonderful that you would like to help the credit (challenged) community LOL. What state will your practice be in?
Thanks Breeze! It may not bring in the millions as in other types of law, but I am sure if done right, there will be results. I run into people everyday who are soo uninformed about credit and consumer law. From partners at law firms to doctors to executives, it is just unbelievable how effective the credit reporting agencies and CA's campaign is by enabling people to think they are helpless in improving their credit. I never thought of the RICO statute, good idea, I will look it up. Also FCRA and FDCPA allows for attorney fees, so it might not be too bad monetarily. We will set up a website, but we are looking for very good web designers. Any leads would be appreciated
Thanks Love! We are going to be licensed and incorporated in Florida but since we will be dealing with federal law, we have the flexibility to work in other states. Of course, if there are state laws involved, we would have to refer you to local counsel.
Cyprigirl: Re: Web Designers, I'm in the process of setting up an independent IT firm. I would be very happy to work with you. I know it's early in the stages and you're just starting, and I'd be more than happy to perform services in exchange for a long-term relationship. Feel free to email me: Daveykid@aol.com DB
Thanks breeze! I checked out your friend's site, and I like her work. Thanks for the referral! I still would like to get some feedback as to how to approach it. I am thinking we can focus on violations as well as debt negotiating. What do you guys think would be the most productive and effective? Thanks in Advance
The people I have referred have usually been for debt negotiations, those in serious trouble, those with ID theft/fraud.
Cypri: Think CLASS ACTION. There are plenty of potential lead plaintiffs on this board. Including me.( I'm a recovering attorney myself, haven't practiced in about 10 years). A thousand bucks here, a thousand bucks there doesn't mean much to the CA's. But a couple thousand violations together, that's some real money. You could create a little cottage industry going after the CRA's, CA's and creditors using this board. I think there are a couple thousand members, so if you put out the call to anyone interested in joining a class action against TU, NCO, etc.. you'll have no shortage of clients. Of course that means long and involved lawsuits that will cost lots to litigate, but that's another issue.
I'm not sure if it's along the lines of credit repair, or what. But I am currently dealing with ASSet Acceptance and these people are almost above the law. They claim they are not a ca but a "specialty finance company" who buys account receivables. So they don't have to be licensed in MI and they are not licensed in FL. I know they must be violation of some statute or law. I'm at the point where I don't want money. I would like for them to be punished. I have complained to various consumer advocate's offices. What I would like to see is the coordination of these statues and states. Find 1 state that they do business in to punish them. Does that make sense? I dealing with so many diff. agencies and they all have diff. rules and procedures. Something along the lines of consumer advocate would be very good.
Betacredit: As long as they are trying to collect a debt, they fall under the Fair Debt Collection Practices. Just like an attorney, if he or she is in the business to collect then they are subject to the Act as well. They are not above the law. By the way who gave you this information? Thanks for the comments! I appreciate the advice, class action is a good direction. Thanks
I got this from the response to my BBB complaint. I am going to post on this and try to get some help.
