Beneficial/Household ripoff Visalia California

The area of Predatory Lending is massively complicated. Some of the options to consider require patience, a little more research, and a moderate amount of time. I have a lot of information, you might, so consider printing this out.

Now, in your Report it is mentioned that the Loan is in Porfirio, your fiacees name. You are helping him with payments, but from what I understand; specifically, you are not held legally accountable at this point. Here is the first option to consider. Your fiancee might consult a good honest Attorney, some are crooks, carefully locate an ethical Attorney to file Bankruptcy. Since the two of you are not currently married, and the house is in his name, your credit will possibly not be damaged by this Legal Transaction.

An Attorney will walk your fiancee through the necessary steps, to make a good clean start in the area of financing. This is what Bankruptcy is potentially about. There are consequences for filing Bankruptcy, so you have to carefully weigh out and compare the end results. Do you want to climb an up hill battle trapped in this loan contract...or would you prefer to put your monies else where, say into your current investment needs?

This is a very serious legal decision, which will affect your life, in coming years. The reason I might consider this option is because your good credit history survives. This way you will qualify for future investments to benefit your family. Your fiancee will not be banished for life, but will have a long road ahead, before qualifying for buying a house, and receiving loans. Think this one through carefully.

This specific corporation is not in good standing with the Federal Trade Commission, at the National Level. Under the alias name of Household Finance, 50 State General Attornies filed a lawsuit against them for alleged pre-payment penalties, and alleged violations of their own State laws. Under the settlement Household agreed to pay: $484 million in restitution to consumers nationwide.

On Wednesday, March 19, 2003, The Securities of Exchange Commission issued a cease-and-desist order and accused Household of giving materially "false and missleading" information about company policies for delinquent loans, which in some cases allowed loans to reset automatically after a missed payment... BBBonline and ftc.gov have the rest of the information, and it goes on.

Some of what you are describing is possibly, again possibly illegal, and your fiancee is being victimized. It depends on word for word the specific Loan Agreement, and what has happened up to this point. Anything mentioned here is not legal advice nor a supplement to seeking professional Legal Assistance.

From the Reports I've read here, Beneficial does not sound any different from their alias Household, but are still allowed to conduct business or corruption, depending on where we stand.

At the end of your Report it is mentioned you are willing to invest time and commitment into catching them, at their alleged thieving which leads to the next few options.

There is an organization you need to contact called www.acorn.org-ACORN. Here are their California branches:

ACORN
132 Bailey Road
Bay Point, CA, 94566
1-925-201-0233 OR

ACORN
560 E. Shields, #107
Fresno, CA, 93704
559-222-9013

They have even more options to consider, but I can go into too much detail; which would turn my Rebuttal into a BOOK. Then the ED would really get mad at me. :) This is a nonprofit organization. There is no fee required to receive their assistance. They might even be able to connect you with honest lawyers in your area. No matter what, at this point you might require legal advise.

It is VERY important that you access www.ftc.gov for The Federal Trade Commission, and please, you and your finacee feel out the Online Complaint Form. You will not receive an individual responce, but there are strength in numbers, and they move faster higher numbers of complaints.

At the Federal Trade Commission your Media Contact for Home Equity Scams is Michelle Muth: 1-202-326-2161 You can check to see what information is available, and let her know you are willing to be interviewed. I really don't know how it works, but you can find out when you call.

You might also consider accessing your own State of California website at: http://caag.state.ca.us They too have an Online Complaint Form, through a sublink. I know this is tedious, and may seem futile, but each and every bit of information given provides information for Attorney Generals, when they take these alleged crooks to Court.

Attorney General Bill Lockyer receives information through:

California Department of Justice
Public Inquiry Unit
P.O. Box (dam I didn't write down the number)
Sacrament, CA, 94244-2550
PHONE: 1-800-952-5225

For what you have been subjected to this corporation might be allegedly in violation of: the Financial Lender's Law and Industrial Loan Companies Law. This is yet another reason why legal counsil should be considered.

It is possible that through Acorn you might locate others in your State, in the same situation, and might consider forming a Class Action Lawsuit.

In addition, check your local resources. There may be a Consumer Affairs office in your hometown. Communicate with ALL on different levels, but MOST IMPORTANT REPORT the alleged injustice to the law, State and Federal, and seek the advice of an Attorney.

You won't get even one step closer to shutting them down, if you don't get the word out, and report them to the proper authorities.

Please get back to us on how this turns out.

Hope this helps.

Rip-off Report
Volunteer