Last week, Michigan Attorney General Bill Schuette announced felony charges against a Birmingham man, alleging he stole money from Michigan residents facing mortgage foreclosures or seeking help to manage credit card debt.

The 35 felony charges filed against both Modify Loan Experts LLC and its owner allege that the company promised its clients that they would be assigned legal counsel to represent them to negotiate on their behalf with the mortgage companies. Schuette alleged this did not happen and many victims lost their homes as a result.

Other allegations include that the owner also operated a credit card debt management service and allegedly told clients he was putting their funds into an escrow account to use in making payments to negotiate their debt with credit card companies.

Schuette said the con artist put the victims’ money into a regular bank account and used that account like an ATM.

The teachable moment of this despicable violation of trust is, in the parlance of a former U.S. president’s description of working with the then Soviet Union: trust but verify. While the details of how these victims fell prey to a con artist are still unfolding, it’s likely that clients’ blind trust aided his abetting.

It goes without saying: know with whom you’re dealing with when it comes to any financial or legal matter. Reputable professionals will make sure you are provided all documentation outlining negotiations and are involved in the process.

• Don’t solely rely on words. Demand to see receipts, statements and other work product that your money is paying for.
• If something seems off, question it. If you don’t understand something, demand to have it explained again — and again, if necessary.

In addition to operating Modify Loan Experts, the owner operated under the company names Modify Debt Experts LLC, Experts LLC, Modify Credit Experts and DLC Group.

The AG’s office is urging anyone who thinks they’re a victim to file a complaint with his office.

If you need help or advice on this or other matters regarding finances, bankruptcy and more, call us at Resnick Law, 248.642.5400, or click here to contact us online.