2 Feb

abc Assignment for benefit of creditors

Of late I have had three clients who have contracted with companies who claim they can settle the second trust deed on the clients home for pennies on the dollar. They clients must pay the agreed amount up front and to the scamming company. As an example this client paid 40,000.00 to settle a 112,000.00. Eagerly my client paid from a loan from relatives. Eight months later still no settlement and when he asks for a refund the company says they are going through an audit and right after the audit he will get a refund. Double talk if you ask me and the company will be using some other “clients’ money if they ever pay back. We sued the and took their default they promised a full refund by Dec. 15, 2011 no refund yet I believe this is a Ponzzi scheme cooked up by some Broker. Advise: when…

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