Complaint Review: FAIRBANKS CAPITAL - JACKSONVILLE Florida

So sorry for all your trouble. So sick of all these companies and their terrorism of American citizens! The Attorney General of your state is a good start. Don't quit there. Find out what agency in your state has regulatory powers over these companies. There will be one, but it is sometimes surprising (here it is the Arkansas Securities Department as of just a few months ago). Contact them immediately! Tell them your story and ask for an emergency "cease and desist" order. Contact your media outlets and tell them your story. Search these reports under "Fairbanks" (leave off the Capital as not everyone uses it and you will get an incomplete list if you add it). When the search is complete it will show the author's state to the right of the screen. Find the ones listed for your state and send copies of those reports with your complaints. Try to get these companies blocked from doing business in your state until an investigation is done into their practices. No one who has read these complaints would willingly enter into business dealings with these companies. However, it is SOP now for loans to be passed on from originating lenders to these "servicing companies". As evidenced on this site, most folks are not receiving the "intent" letters from either the originating lenders or the servicing company as required by RESPA. The letters are required to offer the consumer a choice; if one gets notified of being sold or transferred to an undesirable servicer it should allow you time to make other financing arrangements. Folks send in their payments to the originating lender unaware that there has been a change and suddenly receive a letter from the servicer that they are three months behind! Surprise!! Sneak attack. Once this occurs there will immediately be BS excuses for 1: immediately entering bogus credit reports of defaults (this ties you to them by making it nearly impossible to get another lender; built-in job security). 2:Then the fees start; past due fees, legal fees, appraisal fees, fees and fees. 3: Foreclosure notices designed to panic the homeowner into entering outrageous forbearance agreements with outrageous charges and 4: If you are lucky enough to get the "full treatment", you get hit with forced placed insurance because they never seem to receive your policy no matter how many times you and your agent mail, fax, carrier pigeon, or FedEx it to them. The account holder is absolutely powerless to ever correct an error with these places, probably because they are not errors at all but deliberate. Big money in all these fees. There is nothing "banklike" about these institutions. The websites associated with these companies yak on and on about the program in place to get problem (subprime)accounts to pay up. Of course, they are not courting consumers; they are after the loan portfolios of the U.S. Government and large banks or other finance companies. They buy or have these loans transferred to them in large blocks. If your note is not subprime when they get it, it will be before too long. Amazing how folks who have never had a problem with their originating lender suddenly find themselves months behind and being treated like the scum of the earth. Near as I can tell, these companies are nothing more than glorified collection agencies. They seem to have software designed specifically to "make their programs WORK". This software evidently outlines their terroristic approach by prompting the employees to call account holders, their places of employment, their friends, their relatives, any and everyone, from once to several times every day in order to create a feeling of panic in the account holder. During these calls they will lie like rugs, making arrangements that they never honor, call people names and imply that they are deadbeats, attempt to keep the pressure on until folks are so demoralized that they simply walk away in utter defeat. Most, if not all, of the things they do in their approach is in direct violation of the Fair Debt Collection laws. The amazing thing is that it is hard to find an attorney to take on these companies, even though there are Federal laws in place to protect the consumer from these tactics. The Feds seem to be happy to look the other way and let them carry on with their illegal methods. My goal is to try to block these companies, state by state. I have already sent my correspondence to the agency here in an attempt to get them to take a hard look at how these companies operate here in Arkansas. The result should be an ever smaller list of states that these companies are allowed to operate in, as well as making the details more public about HOW they operate. At this point they will either have to clean up their act and operate within the law, or they will cry to the Feds which will open up a can of worms they won't like, or they will be driven out of business entirely (my personal preference). It is a consumer "sneak attack" against companies that are being allowed to operate like domestic terrorists. Enough outcry from enough states might actually result in waking up the Feds; we do pay their salaries, you know. Help me- file your report with the appropriate state agency and get the ball rolling in your state. All's fair, and this is a war!