EquiCredit Corporation Fraudulently declared a foreclosure despite current payment status Rip-off Salt Lake City Utah

Charles Reaves
7723 Brashear Street, Pittsburgh, PA 15221-2723
Telephone: (412) 241-6307, Facsimile: (413) 677-6576, E-mail: TSReaves@aol.com

February 5, 2003

VIA CERTIFIED MAIL
Fairbanks Capital Corporation
Customer Service Center
10401 Deerwood Park Boulevard
Jacksonville, FL 32256

Re: LOAN # XXX02541175 RENEWED QUALIFIED INFORMATION REQUEST

To Whom It May Concern:

Consider this letter a RENEWED QUALIFIED INFORMATION REQUEST. Please respond in written form only, as I will not respond to telephone calls from your organization. I demand that your organization cease and desist making telephone calls to me, regardless of the reason, forever. I continue to dispute your claims against me because of:

1. Your unwarranted default and mortgage foreclosure letter to me dated December 3, 2002,

2. Your failure to recognize that my records and documentation, which I have provided to you, indicate that I am current on all Mortgage Installment, Late Fees and Other Fees due to your institution through January 31, 2003,

3. Your failure to respond credibly, if at all, to the nine (9) written qualified information requests I have made to your organization from December 23, 2002 to January 30, 2003, and

4. Your failure to account correctly for payments I have made and amounts I owe.

On December 23, 2002, I made a qualified information request, to which your organization has not credibly responded, to your organization requesting that it provide me with a printout of all my account activity, which would specify and itemize any fees that I have been charged and explain the legal basis you claim to have to impose such fees on me. Thus far, I have not received an explanation of the legal basis of the fees being charged and have received no explanation of the application of my payments. I have sent you subsequent qualified information requests dated January 8, 2003, January 13, 2003, January 17, 2003, January 20, 2003, January 23, 2003, January 25, 2003, January 28, 2003, and January 30, 2003, all of which have either been ignored or inadequately responded to by your organization.

Your Mortgage Loan Statement dated January 10, 2003, on the payment coupon, reflects unpaid Late Fees in the amount of $85.22 for which you claim payment is due. I demand that your organization remove these inappropriately charged Late Fees, totaling $85.22, from my account immediately. Please note that Money Order #1403866 dated 12/5/02 in the amount of $127.83, which you posted on 12/9/02, paid this obligation. Therefore, please explain to me your rationale for billing me for an obligation I have already paid. Furthermore, please explain to me why this claim against me is being reported on your statement, and also please explain to me the legal basis you have for imposing such fees on me.

Your Mortgage Loan Statement dated November 11, 2002 reports an unexplained charge dated 10/15/02 to my account in the amount of $170.44, and an unexplained credit dated 10/15/02 also in the amount of $170.44. Your November 2002 Mortgage Loan Statement also reports an unexplained principal charge to my account in the amount of $48.49, an unexplained interest charge in the amount of $661.75, and an unexplained credit in the amount of $710.24. Please explain to me what these entries are, why they were made to my account, and upon what legal basis you claim to have for imposing them on me.

Your Mortgage Loan Statement dated October 11, 2002 reports an unexplained charge dated 10/7/02 to my account in the amount of $1,003.88, and an unexplained credit dated 10/7/02 in the amount of $293.64. These entries create the impression that a net balance is due to Fairbanks Capital Corporation in the amount of $710.24, and create the impression that I have been continually thirty (30) days past due in my Mortgage Installments since that time. Of course, neither condition is true. Please explain to me what these entries are, why they were made to my account, and upon what legal basis you claim to have for imposing them on me. I demand that your organization remove this inappropriate, unexplained $1,003.88 charge from my account immediately. I demand that your organization remove this inappropriate, unexplained $293.64 credit from my account immediately.

Attachment A to this letter summarizes all the payments I have made to Fairbanks Capital Corporation since 1/1/02 on my mortgage loan, the supporting documents of which I mailed to your organization under two (2) cover letters dated 1/13/03 and 1/17/03, respectively. Yet, upon telephone inquiry, your organization denied that it ever received these documents. Moreover, although I have presented your organization with double-sided copies of checks and money orders; bank statements illustrating ACH transfers to your Loan Servicing Center; and written payment advisories, all of which clearly evidences my current payment status through 2/28/03, your organization continues to:

1. Bill me for Mortgage Installment and Late Fee payments I have already made,

2. Deny the receipt of evidence of payment I mailed to your Customer Research area,

3. Misrepresent and overstate the amount I actually owe,

4. Make inappropriate, unexplained charges and credits to my account,

5. Respond inadequately, or not at all, to my written qualified information requests, and

6. Harass me on the telephone to attempt to coerce me into making payments not due.

Your organization's bad, unethical business practices are consistent with the profile of a predatory lender. Because of this, be assured I shall continue to file formal complaints against Fairbanks Capital Corporation with appropriate law enforcement, consumer protection, and regulatory agencies throughout the United States. With respect to my account, I demand that you cease and desist with your predatory lending practices against me; respond appropriately to my concerns, which includes, but is not limited to, making corrective accounting entries to my account; and manage my account in a fair, ethical, and professional manner, which, thus far, you have not done.

Best regards,

Charles Reaves

C: Fairbanks Capital Corporation, Loan Servicing Center (via regular U.S. Mail)

ATTACHMENT A: LOAN # 0002541175 RENEWED QUALIFIED INFORMATION REQUEST

Through April 2002

Check #95719 dated 4/30/02 in the amount of $6,953.87

Note: Payment of all Past Due Mortgage Principal, Interest, Late Fees and Other Fees through April 30, 2002.

Through May 2002

Check #200 dated 6/5/02 in the amount of $752.85
Note: Payment of May 2002 Mortgage Installment and Late Fee.

Through June 2002

Check #230 dated 6/21/02 in the amount of $42.61
Note: Payment of June 2002 Late Fee.

Check #241 dated 7/2/02 in the amount of $710.24
Note: Payment of June 2002 Mortgage Installment.

Through July 2002

Check #257 dated 7/9/02 in the amount of $42.61
Note: Payment of July 2002 Late Fee.

Check #275 dated 8/3/02 in the amount of $710.24
Note: Payment of July 2002 Mortgage Installment.

Through August 2002

Check #295 dated 9/6/02 in the amount of $710.24
Note: Payment of August 2002 Mortgage Installment.

Check #305 dated 9/14/02 in the amount of $42.61
Note: Payment of August 2002 Late Fee.

Through September 2002

ACH transfer to Loan Service Center dated 10/8/02 in the amount of $725.24

Note: Payment of September 2002 Mortgage Installment and Check by Phone Fee.

Through October 2002

ACH transfer to Loan Service Center dated 11/1/02 in the amount of $725.24
Note: Payment of October 2002 Mortgage Installment and Check by Phone Fee.

Through September and October 2002

Money Order #1403866 dated 12/5/02 in the amount of $127.83

Note: Payment of NSF check for three (3) Late Fees for the months of September 2002, October 2002, and overpayment of one (1) Late Fee.

Through November 2002

Money Order #1403868 dated 12/5/02 in the amount of $710.24

Note: Payment of November 2002 Mortgage Installment.

Money Order #033773250 dated 12/7/02 in the amount of $42.61

Note: Payment of November 2002 Late Fee.

Through December 2002

Check # 365 dated 12/27/02 in the amount of $752.85
Note: Payment of December 2002 Mortgage Installment and Late Fee.

Through January 2003

Check # 390 dated 1/10/03 in the amount of $710.24
Note: Payment of January 2003 Mortgage Installment.

Check # 395 dated 1/13/03 in the amount of $42.61
Note: Payment of January 2003 Late Fee.

Through February 2003

Check # 435 dated 2/5/03 in the amount of $710.24

Note: Payment of February 2003 Mortgage Installment.