That’s what I do too 99.99% of the time but once in awhile I run into a situation like this:)
And, you’ve got a big heart. . . I understand completely
I’ve been requested to do a Debt Settlement for a woman. Lakeview Law Group had to cancel the appointment. I had already printed the 29 pages but I saw it as a loss and a lesson not to print so early. Now I’m reading these posts. Never knew that Notaries should not do these.
Hey, that sounds like a horrible settlement indeed! Thanks for posting it. By spreading the word, you are helping many people not to fall into this trap. Unfortunately, the representatives of younger generations rarely get a financial education of a high standard, so we have to do our best to protect them. Even insignificant things such as knowing how to send a simple 30-day notice to landlord are absolutely must-know! On a different note, I still don’t quite understand what NPN is. Can you elaborate, please? Cheers!
Right Jessica, these debt settlement scripts call for you to tell the debtor that, if I remember correctly, you are an “employee” of that company and that is just NOT THE TRUTH. Also, if you read the docs they want the debtor to sign, the poor debtor may very well not get out of debt at all and if they do, it will cost them almost as much as the debt itself. I stay far away from these.
thx for sharing! Yes, i’ve done a couple of Debt Settlements & I too am Not a Fan! Last one wasn’t too bad, 25pgs - $50 Await pymnt!
No mine have never said in the Script that i was an “employee” !
Please read your State Statutes!
MN - 332B.10 332A.14 (11) Provide or offer to provide legal advise or “legal services” unless the person providing or “offering” to provide legal advise is licensed to practice law in State.
Within the presentation and the enrollment docs the notary states “on the behalf” and “company representative” many times and is offering, as the representative of the Debt Settlement company, to provide legal services. Talk to your E&O provider to make sure you are covered…
MN - Debt Settlement companies are also prohibited from telling consumers to stop paying their creditors.
The documents I have seen state very clearly to do just that! Instead of continuing to pay the creditor they want the signer to open a “new” special account that the debt settlement company sets up and claims they are having the signer build up enough funds to negotiate reduction with the creditor.
I agree 100% with WhitnessPro - If you are a representative of the debt settlement company how can you also be the non interested notary for the POA doc granting the debt settlement company you represent?
I disagree with this interpretation. Although I don’t do debt settlements for a variety of reasons, I will say that this presentation is not the “Notary” giving the advice - the notary is merely presenting the company’s stance and relaying information about the services the company has stated they will provide.
As for this:
This is beyond the scope of the notary to know - yes it’s good to know your laws, it IS UPL if the notary conveys this law or knowledge to consumers.
As I have stated, I do not do them for many reasons - I do know federal law states consumers must have a face-to-face meeting with the debt settlement company before engaging their services, and sending a notary to meet with people for these skirts that requirement. I’m also not thrilled with the contents of the agreements I’ve seen so I have chosen not to get involved with them.
You and me both… I will do almost all assignments but that is one that I too will stay clear of
I never get selected when the offer comes. Any suggestions?
If it’s for a debt settlement? Ignore it - trust me they’re not worth it.