SPS - Select Portfolio Servicing - Fairbanks Capital LOST PAYMENT ripoff WON'T REIMBURSE OF FORWARD TO NEW LENDER Salt Lake City UTAH And Jacksonville FLORIDA

Hi Stephen.

First, you should know that there was a recent NATIONWIDE class action suit against Fairbanks - hence their recent change of name. We were part of this class action suit (under the force-placed insurance scenario) and were awarded a very small amount of money. We have been damaged beyond repair, we could not afford to keep fighting in a civil suit against them and we, alas have lost the battle and our home is up for sale.

A few suggestions for you.

1. Send everthing that you have sent (and I mean EVERYTHING - every fax transmission receipt, document, check copy, letter, request, etc. via Certified Mail - Return Receipt (so they HAVE TO SIGN IT). You then have legitimate documentation. Faxes don't work - believe me. These guys even stuck a Federal Express Overnight Envelope with Insurance Certificates and instructions IN A DESK DRAWER!!!! Need I say more?!

2. Forget the telephone calls. They do this to everyone. It's a run around. I have a year or more of day to day notes on conversations and contact/departments. It didn't help in our suit.

3. You must write a letter (send it Certified - Return Receipt)to their customer service Department or their General Counsel (would be better). In this letter you should explain the problem and specifically request they investigate the matter and respond to you.

4. After the letter is written and sent, contact the Office Of Banks And Real Estate in your state and begin an investigation. They can't initiate a foreclosure or any other action during the investigation which can take several weeks.

5. Also contact your State's Attorney and make them aware of your problems and complaint. The State's Attorney's office needs to hear from EVERYONE in your state having a problem with this company. The Illinois State's Attorney's office advised me they were not aware that people in Illinois were having problems. They weren't hearing from anyone so they figured there was no problem in Illinois. How wrong!

6. Avoid filing bankruptcy or hiring a lawyer until you have done these things. It is very tough to fight them in the civil venue. It also appears by the amount of postings on this site that the class action suit did not help much.

7. As a result of the class action suit, you should know SPS had to agree to a Bill of Rights for us - a written document that not only applies to them but to ALL loan services as to how they should conduct themselves. You can find this on the Internet and print it in its entirety. It outlines how they must conduct themselves when servicing accounts, handling consumer complaints, etc.

Well, I hope this helps you. I learned all this the hard way over 3 years of stuggling with them, hiring several lawyers, hiring a negotiator, getting the OBRE involved and talking to the State's Attorney.

A class action suit will not reverse the damage they have done or make you whole if you are in the process of losing your home. If many people file (as in our class action suit) you will get a few hundred dollars and will still have to deal with this company (and all the fallout) on your one (or with an attorney YOU hire).

Good luck in your fight! I know your pain.

Laura

P.S. My story is posted on this site in early 2004.

Hey Stephen!

Welcome to my life! Select Portfolio and America's Servicing Company are in this thing together.

Read Postings under America's Servicing Company and you will understand....

hello my response to anyone who will listen is refinance NOW.GET AWAY FROM THEM,we were charged late fees because our payment coupon said send to kentucky but it had to go from kentucky,to florida,to california, then to utah all the time they stamped my payment received but never credit my account.i also had cancelled checks heck one time i even sent a quick collect payment thru western union called them to verify and about 45 days later i received a letter from western union for me tocome get my money because it was never picked up.i was charged an escrow on my account but i pay my own insurance and property taxes,i sent them proof as such and they said it would take 90 days to resolve,and they charged me interest then my intial loan with them was 38000 ive been paying since 1998 i just refinance 12.04 and my pay off was 43000 how is that.that class action suit was a joke i was told that i had been charged $4000 in fradulent fees i received a check for $350.

Dear Stephen,

My husband and I are also victims of Fairbanks/SPS whoever they are at the moment. Is there another new name scam they have now?

We would be very interested in joining a class action suit if you know of any or are beginning one yourself. We have tried the Colo Atty General's office (useless) the FTC (not much better) and the Douglas County Public Trustees office to see if there is any help. Not much to say the least. Our story is exactly like so many on this web site.

He has had the most experience dealing with these criminals so he would be your most helpful contact.

Hope to hear from you.

Dear Stephen,

My husband and I are also victims of Fairbanks/SPS whoever they are at the moment. Is there another new name scam they have now?

We would be very interested in joining a class action suit if you know of any or are beginning one yourself. We have tried the Colo Atty General's office (useless) the FTC (not much better) and the Douglas County Public Trustees office to see if there is any help. Not much to say the least. Our story is exactly like so many on this web site.

He has had the most experience dealing with these criminals so he would be your most helpful contact.

Hope to hear from you.