bankruptcy asset protection
Why are they allowed to be in business? Ocwen Mortgage has a Jumbo Class Action Lawsuits pending from 1999,?
Why is Ocwen continuing to be allowed to lend mortgages to USA Citizens, when they have over 500 class action lawsuits filed and all were rolled into a jumbo class action lawsuit? We didn’t sign with Ocwen, but were sold to them before we signed the mortgage papers. “U.S. Federal Government Lawsuit(s): According to OCWEN’s SEC filing, they are being sued by the U.S. in the amount of $700 million +. Suits arose after one of their subsidiaries filed for bankruptcy protection in the District of Delaware Bankruptcy Court for that amount – $700 million in debt. Here’s the part the Feds and the investors are upset about: This subsidiary transferred ASSETS to OCWEN just before filing on their liabilities. That’s called a fraudulent conveyance. According to the SEC and OCWEN’s own report, their net worth is $325 million–oops not enough to satisfy the Feds and investors.” Why is the Federal Government Allowing them to ripoff US Citizens?
Well, remember a lawsuit isn’t proof of anything — it’s just an accusation.
And the people they’re “ripping off” aren’t their customers, it’s their shareholders. So borrowers aren’t being screwed.
If there’s truth to the allegations, then the SEC / DOJ will bring their own action (a la Worldcomm and Enron). But they can’t exactly shut down the businesses.
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Asset Protection for Business Owners and High-Income Earners: How to Protect What You Own from Lawsuits and Creditors $12.47 Congratulations! You have worked hard for many years and own a booming business; or perhaps you are a successful doctor, attorney, CPA, or another high-income earner. Making that money was difficult; now, you have to create a strategy to keep it. Unfortunately, you are on the radar with pending lawsuits from other businesses, employees, business partners, past marriages, relatives, the government,… |
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Complete Guide to Asset Protection Strategies $34.95 Explains all of the major asset protection strategies, how and why they work, and helps you decide which ones are best for you. Lists of state laws are included so you can see what protections are better in your state, and which states might better protect your assets if the need arises. This new edition includes changes in exemption laws, new asset protection trust laws, and a breakdown of which … |
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A Guide to Asset Protection: How to Keep What’s Legally Yours $8.88 How to shield your assets from creditors and other claimants.You’ve worked long and hard for your assets, from your business and home to hard-earned savings and investments. To safeguard them–particularly against liability suits, “America’s number one indoor sport”–A Guide to Asset Protection offers proven strategies to help you keep what you may have spent a lifetime earning.Written by an attor… |
