Debt settlements and consolidations are not notarized transactions, do not come with notarial certificates, and are fishy business practices. Because debt consolidations must legally have a face-to-face representative upon signing a contract, these companies hire mobile notaries to be a representative or agent of that company. This allows them to skirt the ‘telemarketer’ laws (because some of the transaction is done in person after the initial phone contact). The notary often must read verbatim a spiel covering the same information that was pitched over the phone, refuse to answer any questions, not give opinions, etc. Because this format is similar to some notary jobs and espouses similar ethical proceedings, notaries are recruited to carry them out, jeopardizing the legal and ethical reputation of notaries. There is no notarizations done in these dealings, therefore the notary is not under any legal or ethical obligation to accept or complete such assignments.
Moreover, many of these companies work remotely, ignoring many states’ laws that require the business to be registered in the same state as their client, and hoping the notary will not be familiar with the Uniform Debt Management Service Act of 2005 or their own state’s regulations.
Best to stay away.
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