Report: #407514

Complaint Review: Fairbanks Capital Finance

  • Submitted: Sat, January 03, 2009
  • Updated: Wed, February 11, 2009
  • Reported By: newark Delaware
  • Fairbanks Capital Finance
    3815 South West Temple, Salt Lake City, UT 84115
    Salt Lake City, Utah
    U.S.A.

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The infamous Fairbanks Capital Finance class action law suit has been long swept under the carpet. No one talks about how the FTC slapped them on their hands allowed them to restructure under a new name and settled with thousands of homeowners that went broke trying to fight these thieves in the night Our home was sold for $198000, we were 5 payments ahead, our balance was approximately 150000 - 2 days before settlement - Fairbanks added approximately 22000 to the payoff disabling our net to pay the realtor, and other debts owed.

After exhausting all means, 3 attorneys, no one could get Fairbanks to respond to attorney requests, certified letters, proof of cancelled checks, they simply ignored all requests to communicate until they foreclosed on our home for $160000.

Months before this happened unusual people in fancy Mercedes Benz and Jags would pull into our lane and take pictures walk around in their fancy suits - when approached they would get in their cars and leave.

We should have known then Fairbanks was scouting homes to foreclose on. We built our dream home on 2 acres, we were working middle class honest people.

Fairbanks ruined us. We became homeless living with relatives for 2 years then saw Fairbanks on the 6:00 news one night and the class action law suit that was supposed to give back what they stole from everyone. When it was all said and done we received a check for less than $2,000. The FTC said Fairbanks created no criminal acts so they let them off easy.

Where are the thousands of people that were victimized by this sleazy company? We have never recovered emotionally or financially. Has anyone out there recovered? How did you do it? My wife had a breakdown and became suicidal, my credit is ruined, no matter how hard I try to put this behind us it takes a piece of my heart each day.

We are nearly 60 years old now, rent, have nothing to pass on to our children or grandchildren, we were broken spiritually, emotionally and financially. I receive a pension and my wife is on SSI with failing health. Has anyone recovered? Is there anyone out there that cares or can help, or remembers what it was like to be victimized by Fairbanks and let down by the government agency that is supposed to protect us?

We were the first of many to come, so the earliest victims took the hardest hit because no one was on to Fairbanks yet - we found out after the foreclosure that this was a nationwide attack on homeowners not just us. Their was no justice.

Rb3
newark, Delaware
U.S.A.
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This report was posted on Ripoff Report on 01/03/2009 09:12 AM and is a permanent record located here: http://www.ripoffreport.com/reports/fairbanks-capital-finance/salt-lake-city-utah-84115/fairbanks-capital-finance-multiple-akas-ie-p-m-i-fairbanks-capital-stole-our-home-and-407514. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Rb3 Newark De

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

Sir, I just read your report and I feel your pain, I know that everyword you wrote about this company is so true. I have went throught every possible program they can put me on and every time they aways come up with some lam excuse that I did not meet all the requirements that they set forth. There fore I pray to god that one day , just one day we all will get vindication for what this company has done to so many lives. We need to all get together and form a bond agaist this company.
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#2 Consumer Suggestion

class action law suits

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

As you have learned first hand are useless. They only make the lawyers rich, but do nothing for anyone who may have been damaged. I am glad that you are no longer homeless and you have come through this mess. My heart goes out to you. I know nothing of this particular mortgage company and what they did or did not do, but at least you have survived. Houses are only brick and mortar, but your wife and you my friend, are priceless.
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#3 Author of original report

FAIRBANKS CAPITAL FINANCE LIVES ON!!! WHERE IS OUR JUSTICE?

AUTHOR: Rb3 - (U.S.A.)

Yesterday I submitted a report on Fairbanks Capital Finance who is still alive and well doing business as usual. Where have all the victims gone? Please respond and let your stories be known. If your house was stolen by Fairbanks stand up and let Washington know. We all need a stimulus refund for the ignorance of the FTC allowing Fairbanks to get off so easy. The class action law suit was pennies on all of our losses. If you had your house sold and Fairbanks blocked the sale adding bogus fees to your payoff and your buyer walked please respond. Our story began in December of 2001 - we were probably one of first to go down before it became a national scandal 3 years later. We are still suffering today.
Respond to this report!

#4 Author of original report

FAIRBANKS CAPITAL FINANCE LIVES ON!!! WHERE IS OUR JUSTICE?

AUTHOR: Rb3 - (U.S.A.)

Yesterday I submitted a report on Fairbanks Capital Finance who is still alive and well doing business as usual. Where have all the victims gone? Please respond and let your stories be known. If your house was stolen by Fairbanks stand up and let Washington know. We all need a stimulus refund for the ignorance of the FTC allowing Fairbanks to get off so easy. The class action law suit was pennies on all of our losses. If you had your house sold and Fairbanks blocked the sale adding bogus fees to your payoff and your buyer walked please respond. Our story began in December of 2001 - we were probably one of first to go down before it became a national scandal 3 years later. We are still suffering today.
Respond to this report!
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