ED Magedson – Founder
Rust Consulting, IncP. O. Box 1998 Faribault, Minnesota United States of America
The New Jersey Attorney General's Office negotiated a "settlement" with Countrywide Mortgage for individuals who lost their homes due to Countrywide's criminal lending practices.
I am currently outraged by the delay tactics being implemented by Rust Consulting, the firm hired to handle disbursement of the funds. There was an original "deadline" date to return the Claim Form and Release of October 22, 2009. That deadline date has since randomly been extended to November 16, 2009, then December 22, 2009 and now I have been informed, by the Attorney General's Office, that it has been extended until February 16, 2010!! That deadline date is merely for sending the form in. There is no payment date in sight. Brief research I have done on Rust Consulting has brought to light that this is a common tactic used by this company. For months now calling, I am still getting the same robotic, recited, vague, evasive, no information responses from representatives of Rust Consulting as I got from my very first phone call to them.
After numerous emails exchanges with the Attorney General's office, I cannot help but conclude that the "settlement" negotiated between the Attorney General and Countrywide was done solely with Countrywide's best interests in mind by way of thwarting a class action suit against them. A small hope of financial relief by way of a swift settlement payment was dangled in front of financially devastated people and now, all these months later, there is still no payment date in sight, just a deadline extension for the form to be returned into the time frame of when payments should have been disbursed. The response from Aziza Salikhov, Investigator for the Office of Consumer Protection, to whom my correspondence was referred was, "If you do not hear from Rust Consulting by March 1, 2010, please feel free to contact me." Aziza Salikhov told me in one email exchange the date of payment disbursement was February 16, 2010. Aziza Salikhov then informed me today that this is no longer the payment date but rather has become the new "deadline" date. This response is absolutely unacceptable, and I am certain I speak for many of the homeowners involved in this supposed settlement.
This "settlement" was a glimmer of hope to get caught up on bills on an otherwise very bleak horizon. To now find out that this is NOT on the horizon is devastating. The handling of this settlement has been placed in the hands of a company whose reputation is as unsavory as Countrywide's and to "add insult to injury," I feel as if I have been scammed by the Office of the Attorney General.
At this juncture, I would like to know: Who hired Rust Consulting? How much were they paid for this "service" and by whom were they paid? By whom, or where are the "settlement" monies being held? Who is benefiting from the interest being generated from this money? It is obvious to me that someone needs to light a fire under Rust Consulting's arrogant rear end!! I hope someone can help me do just that.
Based on the lack of concern by the Attorney General's Office, and their acceptance of what is happening here, I can only conclude that the best interests of the homeowners involved, my best interests, are not being looked after by them at all. Quite frankly, I feel as if I have been sold out.
This report was posted on Ripoff Report on 01/06/2010 06:20 AM and is a permanent record located here: http://www.ripoffreport.com/reports/rust-consulting-inc/faribault-minnesota-55021-6194/mortgage-companiesrust-consulting-incrust-consulting-inc-countryw-28e2chtm-550077. 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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