It may seem like our record starts to skip a few beats every time we discuss debt relief and debt settlement companies, and how important it is to pick the right one, but we feel the urgency is justified when we read about scumbags out there who set up debt elimination scams, and those who continue to fall for them.
One recent story from the San Francisco Examiner in particular shows why it’s important to choose wisely when looking for debt relief or even credit repair services.
Dumb & Dumber
So we have two guys in the Bay Area who ran an elaborate debt elimination scheme, called the “Dorean Process,” which they promised homeowners would wipe out their mortgage debt completely. This should’ve been a major red flag right here to most people, but the story goes on.
These guys, Kurt Johnson and Dale Heineman, proceed to convince homeowners to transfer their property titles to a trust that they both ran (major red flag #2), then produce completely fake documents that indicated the owner’s previous mortgage was canceled before having the owner’s refinance their homes (red flag the 3rd).
They managed to pull this scheme on over 3,500 homeowners and lenders across 20 banks and 35 states, collecting more than $3 million dollars before they were caught and sentenced in 2007. They recently tried to appeal the original ruling, because, it seems, they thought it was a good idea to defend themselves in court the first time around.
The verdict? According to the circuit court judge who presided over the case: “They had the right to represent themselves and go down in flames if they wished, a right the district court was required to respect.”
It could still happen to YOU
While that may seem a little unusual for a cautionary tale – after all, these guys thought it would be a good idea to show up to their trial in prison clothing – the fact that they were able to pull a scheme like this on so many people is pretty unsettling.
If you’re searching for quick schemes to get rid of all of your debt overnight, you’ll only end up with people who’ll take what’s left of your money and leave you with all that debt and more. Whenever it seems too good to be true, it generally is.
If you want legal, sensible, and most importantly effective solutions to any and all credit and debt problems you’re facing, give one of our specialists a call. You deserve a fresh start.
