Beware of Debt Resolution Presentations

Some signing services are now diversifying by offering assignments to do debt settlements or debt resolution presentations. While these appear to be just another type of assignment, they are not.

As Patrick Manning recently commented in a notary group on Facebook:

“a Debt Resolution Presentation, is an appointment where you read a script and show slides, to explain (the bare minimum) to the borrower what the Debt Resolution process is. The law office provides you all the documents, you read the script, word for word, and have the Borrower initial the slides. Then, you go through the documents, and have the Borrower sign, and you notarize where indicated. That’s the pleasant way to say it.

Here is the direct way to say it. In my un-legal opinion (I’m not a lawyer), debt resolutions conducted by a NSA, is a tiny loophole that law offices use, to circumvent the federal regulation and requirement, that they MUST have a face-to-face meeting with the client, BEFORE signing any documents, and entering into an agreement. Before I was educated, I conducted a few of these appointments. There is wording in the script, that leads the borrower to believe, that you work for the law firm. After I learned more about it, I decline each and every one. Not to mention, I think they are taking advantage of people that are in a financial crisis, and see no way out.”

He also shared a few links that have been seen several times there on Facebook when this topic came up, one from the FTC (FTC Reaches Settlement with Nationwide Debt Relief Provider) and one from Get Out of Debt (Notary Network Appears To Sell Way Around Telemarketing Sales Rules for Debt Settlement Companies).

I agree with Patrick that these type of assignments are ethically and legally questionable at best. So, I’m not doing them.

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About Tim Gatewood

55+, male, widowed. Mobile Notary Public and Signing Agent, Freelance Writer, and Ordained Minister. Willing servant to cats. Science fiction and fantasy fan, avid reader, Founder of the Darrell Awards. Author of _Getting Started As A Notary Signing Agent_ (available from https://notarymemphis.wordpress.com/books). Please be kind to one another.
This entry was posted in Business, Ethics - Morality, For Notaries and tagged , , , , , , . Bookmark the permalink.

One Response to Beware of Debt Resolution Presentations

  1. Elizabeth C Head says:

    Thanks so much for this article. I, too, have done a few and thought they were questionable. I have not done one for a while and will not do anymore. When we know better, we do better. Thanks again for sharing.

    Liked by 1 person

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