One-Page Bankruptcy Due Diligence & Compliance Summary

CIN Legal Data Services Releases Industry's First One-Page Bankruptcy Due Diligence & Compliance Summary

Continuing to develop new & innovative product features, CIN Legal Data Services, a division of Credit Infonet Inc., has announced the release of its one-page Bankruptcy Due Diligence Summary. Combining data elements from all products available within the CIN Legal Data Services product line, the Bankruptcy Due Diligence Summary provides attorneys with a real-time, one-page review of data delivered from credit, asset, valuation, counseling and tax transcript products.

Dayton, Ohio (PRWEB) May 10, 2007 -- CIN Legal Data Services, a division of Credit Infonet Inc. and the recognized leader in using technology and business innovation to help bankruptcy attorneys streamline the review of key reasonable investigation data elements, today announced the release of the industry's first one-page Bankruptcy Due Diligence Summary report. CIN Legal Data Services' one-page Bankruptcy Due Diligence Summary presents data acquired from credit, asset, valuation, counseling & tax transcript products in one easy-to-read format. CIN Legal Data Service's Due Diligence Summary is updated in real-time as each respective product ordered is completed.

Through the release of the industry's first comprehensive cross-product summary, attorneys ordering due diligence products via CIN Legal Data Services can quickly review information ranging from summary credit liability data to credit counseling completion dates and year-specific income information. Updated in real-time, the Bankruptcy Due Diligence Summary creates greater office efficiency by providing a quick review of all client information in one report. Applying its expertise in data management, all key data elements are now aggregated into a single comprehensive report while attorneys still maintain access to each comprehensive, full content report competed and delivered by the company.

"CIN's line of due diligence products is currently being utilized to save our clients' support staff valuable time," commented Lee Midkiff, CIN Legal Data Services Chief Operating Officer. "Providing our attorneys with this streamlined report will make it even that much easier to quickly review and analyze a client's status during each attorney's reasonable investigation process. We are very proud and pleased to provide clients with the industry's first cross-product bankruptcy due diligence summary."

To learn more about the services of CIN Legal Data Services, or to learn more about the Bankruptcy Due Diligence Summary, please contact a sales associate at 866-218-1003 or visit www.cinlegal.com.

About CIN Legal Data Services:

An operating division of Dayton, Ohio-based Credit Infonet Inc., CIN Legal Data Services is the country's largest provider of consumer bankruptcy due diligence services. Serving over 6,000 clients in all 50 states and Puerto Rico, CIN Legal Data Services specializes in assisting consumer bankruptcy law firms with meeting their reasonable investigation requirements as outlined in the Bankruptcy Reform Act of 2005. CIN Legal Data Services provides a mix of technologically integrated products and services that includes liability data, property valuations, title information, auto values, tax transcripts and counseling & education courses.

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Press Contact: Russ Russell
Company Name: CIN Legal Data Services
Phone: 937-235-8907
Website: www.cinlegal.com

Debt Collector to Pay Consumer $100,000.00 for Unfair Debt Collection and False Credit Reporting

Federal Jury in Los Angeles Orders Debt Collector Arrow Financial Services to Pay Consumer $100,000.00 for Unfair Debt Collection and False Credit Reporting

On May 4, 2007, a unanimous federal jury in Los Angeles, California ordered debt collector Arrow Financial Services to pay Laura Nelson $100,000.00 for a multi-year pattern of unfair debt collection and false credit reporting practices. Laura Nelson v. Arrow Financial Services, LLC, United States District Court Case No. CV06-1568 RGK (PLAx).

Los Angeles, CA (PRWEB) May 9, 2007 -- Following a three-day civil jury trial, a Los Angeles jury unanimously ordered debt collector Arrow Financial Services to pay Laura Nelson a total sum of $100,000.00 for false credit reporting and unfair debt collection practices. The jury awarded Ms. Nelson $85,000.00 for her emotional distress and mental anguish, and also added a $15,000.00 penalty against Arrow for its repeated violations of the Fair Debt Collection Practices Act. Laura Nelson v. Arrow Financial Services, LLC, United States District Court Case No. CV06-1568 RGK (PLAx).

Ms. Nelson was represented in the case by Robert F. Brennan, Esq. of Brennan, Wiener & Associates in La Crescenta, Ca.

The account reported to Ms. Nelson's credit reports was false from the start, as Ms. Nelson never owed the alleged debt. The false reporting of the account began in 2001 and Ms. Nelson had previously disputed the account numerous times to Arrow, to the three major credit bureaus and also to Direct Merchants, the supposed original creditor on the account. Direct Merchants even wrote to Arrow to advise them not to report the account.

Ms. Nelson previously sued Arrow in 2003 over the account, and part of the settlement of that case included a permanent removal from her credit reports. However, literally as she was signing the settlement agreement from the previous lawsuit, Arrow began re-reporting the account to Equifax, one of the "big three" credit bureaus, using a different account number. When Ms. Nelson later disputed the account's re-appearance to Equifax, Equifax could not locate the account because it had been re-reported with a different account number. Ms. Nelson then brought the lawsuit.

"Arrow subjected Ms. Nelson to five years of false credit reporting, and insisted until the very end that it had done nothing wrong," stated Brennan. "What was most upsetting was the fact that Arrow had kept the account in its system, adding interest to it and continuing to credit-report it, all the while knowing it was a completely fraudulent account. I certainly hope Arrow re-evaluates some of its business practices in the wake of this verdict."

Mr. Brennan also expressed his characteristic dismay at the way in which the debt collectors and large creditors are becoming the new slave masters in our culture. "America no longer creates any new products. All it creates any more is debt. The key product of our economy is debt, plain and simple, and the debt collectors and major banks use debt to control, and destroy, our entire lives. I'm picking up more and more discontent from consumers because of this debt-driven economy and how we're all hamsters in hamster-wheels working our tails off just to pay interest to debt collectors and big banks. One day, it's all gonna break and it just might be a good thing when it does."

Contact Information: Robert F. Brennan, Brennan, Wiener & Associates, 3150 Montrose Ave., La Crescenta, Ca. 91214, (818) 249-5291. Mr. Brennan and his firm are the leading consumer protection and credit damage attorneys in Southern California. Mr. Brennan has been selected as a "Southern California Super Lawyer" for two years running, for both 2006 and 2007.

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Press Contact: ROBERT BRENNAN
Company Name: Brennan, Wiener & Assoc.
Phone: (818) 249-5291
Website: www.socalcreditdamage.com

Lending Market Narrows Borrowing Options for Minorities

 

Subprime Lending Market Narrows Housing, Borrowing Options for Minorities

According to recent reports, minorities are being disproportionately affected by changes to the subprime lending market. A lender search tool available from MortgageCreditProblems.com helps people with poor credit or people looking to find relief from high mortgage and interest payments find qualified lenders. Information on bad credit mortgages, subprime lending, loans and other mortgage-related issues are available at MortgageCreditProblems.com

(PRWeb) May 4, 2007 -- Last month, according to the San Francisco Chronicle, "a coalition of civil rights groups called for a national six-month moratorium on foreclosures -- after observing that a subprime (lending crisis has) disproportionately affected minorities." MortgageCreditProblems.com (http://www.mortgagecreditproblems.com) helps people with bad or no credit avoid common pitfalls of the subprime lending market by offering a lender search tool that provides mortgage information.

The MortgageCreditProblems.com search tool first asks users about the loan type, property type and home location. To find the best lenders to fit an individual's needs, the tool also takes into account bankruptcy, credit rating and several other factors that depend on the loan type (http://www.mortgagecreditproblems.com/mcp/apply.htm).

"Loans to homeowners with less-than-sterling credit are the fastest-growing segment of the mortgage market," says the Boston Globe. "Subprime loans have helped boost U.S. homeownership to a record 69 percent of households, {but} some subprime {mortgage} lenders charge excessive fees or rates, taking advantage of the fact the borrowers have fewer options than people with good credit."

As the subprime lending market faces scrutiny for unscrupulous practices, many subprime mortgage lenders are going out of business, leaving minorities to rely on approval from giant lending institutions, although, "tighter standards are locking a large part of the American population out of home buying," says MSNBC. Specializing in bad credit mortgages, MortgageCreditProblems.com's lending search tool helps homeowners find reliable, relevant information on the subprime lending market and mortgages so they can make informed decisions on the loan that will best meet their financial needs (http://www.mortgagecreditproblems.com/mcp/apply.htm).

Unfortunately, minorities are especially at risk for being taken advantage of through the subprime lending market as The National Council of La Raza has noted, by finding that, "forty percent of Latino families and over half of African Americans who receive home loans get higher-cost mortgages, predominately subprime loans." However, according to the U.S. Department of Housing and Urban Development, "Studies reveal that even upper-income African-American neighborhoods one are one-and-a-half times more likely to have a subprime loan than persons in low-income white neighborhoods."

MortgageCreditProblems.com is a primary source of mortgage lending information for people with poor credit history or a low credit score. MortgageCreditProblems.com connects borrowers with bad credit to lenders that are willing to give them credit despite their credit history and also offers articles on improving credit scores, refinancing with bad credit and debt consolidation.

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Press Contact: JO VIOLET
Company Name: MortgageCreditProblems.com
Phone: 877-407-7377
Website: http://www.mortgagecreditproblems.com