Other Contributors

About Us

The contributors to the Consumer Law & Policy blog are lawyers and law professors who practice, teach, or write about consumer law and policy. The blog is hosted by Public Citizen Litigation Group, but the views expressed here are solely those of the individual contributors (and don't necessarily reflect the views of institutions with which they are affiliated). To view the blog's policies, please click here.

« Markup Study finds "loan applicants of color were 40%–80% more likely to be denied than their White counterparts" | Main | Bloomberg: Biden to nominate Georgetown prof and privacy expert Alvaro Bedoya for FTC »

Thursday, September 09, 2021


Edwin Bell

Debt collection involving most credit cards and mortgages is almost 100% owned by securitized trust or investors. Banks, credit card issuers, and mortgage servicers cannot legally sell debts they DO NOT OWN. This type of unlawful activity has been going on for far too long. Most people who actually have experience or understand securitization know that all wall street trust are regulated by the SEC. When a default occurs the managers of the trust must write-off or charge-off the debt based on strict SEC rules. These charged-off debts can be assigned to law firms for collect only by authorization of the owners/trustees for/of the trust. This scheme of selling securitized debt has been a growing unlawful scheme since the mid 1990s when the nefarious debt collection companies were conceived to make massive profits on stolen charged-off debt usually assigned or SOLD for pennies on the dollar by servicers who lack any authority to sell debts that are not their property. State and Federal Courts have been manipulated to write unlawful opinions that violate most UCC statutes in an attempt to legitimize illegal debt collection. Now, many published opinions are being used to support what is essentally organized crime using Courts to process illegal judgments and use its resourses to EXTORT citizens for debts that are being stolen from securitized trust without the permission of the legitimate owners. If the investors knew that 100% of the debts were receiving judgments for total amounts owed with interest and attorney's fees they would process them under contract with legitimate law firms. This is the biggest scheme fraud scheme in history.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name is required. Email address will not be displayed with the comment.)

Subscribe to CL&P

RSS/Atom Feed

To receive a daily email of Consumer Law & Policy content, enter your email address here:

Search CL&P Blog

Recent Posts

September 2021

Sun Mon Tue Wed Thu Fri Sat
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30