• Report: #110378

Complaint Review: Farbanks Capital/ SPS Or Select Portfolio Servicing,INC

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  • Submitted: Mon, September 27, 2004
  • Updated: Sat, October 16, 2004

  • Reported By:Parma Michigan
Farbanks Capital/ SPS Or Select Portfolio Servicing,INC
3815 SouthWest Temple Salt Lake City, Utah U.S.A.

Farbanks Capital, SPSFarbanks Capital, SPS Or Select Portfolio Servicing,INC ripoffs In a Bankruptcy with them! And they still rip you off! Plus the Goverment. Salt Lake City Utah

*Consumer Suggestion: How to deal with SPS-Select Portfolio Services

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What do I mean when I say Plus the Goverment? Well Fairbanks or SPS what ever they would like to call themselves now, are charging me a handling fee or process fee, for distributing my Bankruptcy payments. Go figure, they are over and above what the U.S Bankruptcy payment is. So they add it to a escrow account that I never opend. And now that is over $3000.00 to the negitive. And state that when I make the final payment of this bankruptcy, that this amount will have to be paid before they will re-instate my loan. How can this be when there is suppose to be no other charges to my account.. Who knows?

This is not the only thing they are charging me for either, there is more to this story. But it would take me forever. It's pretty bad when a mortgage co. (Conti Mortgage) goes bankrupt on you. And sells your loan to other mortgage co. ie(fairBanks) in foreclosure (When your not even in one). So they foreclose, and don't have the right too.

I have informed the courts of this matter and they have said that this is wrong, but can't help me. Can't find a lawyer either? The one that filed the bankruptcy was not any good, for he did'nt believe that something like this could happen or that it wasn't his problem.. And everytime I talk to them they charge me. I have been trying to get MIchigan involved with this. But seem to have a problem, know one will listen. I know there is more out there like me in this situation..

So what am I to do. Anyone have any suggestions. I have been dealing with this for 4 years. And have reached my end of the rope. Nobody in Michigan will listen.. I need any information any one can give me!!!!! Help!!!!!!!!!!!!!

Ann
Parma, Michigan
U.S.A.

This report was posted on Ripoff Report on 09/27/2004 01:41 PM and is a permanent record located here: http://www.ripoffreport.com/r/Farbanks-Capital-SPS-Or-Select-Portfolio-ServicingINC/Salt-Lake-City-Utah-84115/Farbanks-Capital-SPSFarbanks-Capital-SPS-Or-Select-Portfolio-ServicingINC-ripoffs-In-a-110378. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Consumer Suggestion

How to deal with SPS-Select Portfolio Services

AUTHOR: Dan - (U.S.A.)

There are several steps that a person can take to stop what Select Portfolio Services (SPS) are doing as they try to take people's houses from them. It is very important to understand that if you wait too long to begin the process, time may be against you. (I can not be too explicit on this web site, because it is probable that SPS personnel are also reading what is being written here, and we do not want to alert them as to how it is possible for you to keep your house.)

1. If your loan is being serviced by SPS, and you are still allowed to make payments, you are in the best position to begin a process that will help you keep your house, and get them off your back.

2. If SPS is refusing to accept your payments or if you are up to 2 months late with your payments, you still have time, but you must act quickly.

3. If you are 3 months late (or longer) with your payments and you are not in foreclosure yet, you also have time, but must take immediate action.

4. BUT if your house is listed to be auctioned off, you first need to find a lawyer that will file an injunction against the sale. This injunctive relief, filed at a very specific time, gives you from 30 to 60 days, during which a process can be started to help you keep your house.

5. IF you are in bankruptcy, this process can certainly help you keep your house and get SPS off your back.
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