Judgments against unsuspecting consumers for defaulted loans are being churned out by debt collectors like Midland Funding, using robo-signed affidavits of debt as substitutes for properly investigated, properly documented debt. Robo-signing is the mass-production of “sworn” affidavits used to prove outstanding debt in lawsuits against consumers. Most common among large debt collectors and debt buyers,…
West Virginia consumer Diana Mey is trying to collect money from a collection agency after winning the largest judgment ever against an abusive debt collection company — more than $10 million. “I’m a mom, and I’m a housewife, and I’m an accidental activist,” Mey said. From her small-town home in Wheeling, Mey took on a…
In a series of 2009 and 2010 transactions, Bank of America sold credit card receivables to an outfit called CACH LLC, based in Denver. Co. Each month CACH bought debts with a face value of as much as $65 million for 1.8 cents on the dollar. At least a portion of the debts were legacy…
