Shark Warning

Over the years, many of you have told me about those high-end loan scammers who have taken advantage of your situation while awaiting disability and pension settlements pending through the courts and arbitration processes. Not that different from high-interest check services and others who tie you up with high-interest loans using your future settlements as collateral. Unfortunately, many of you never received your earned benefits (as we’ve discovered) and end up with huge liens that continue to grow with compound interest. And some of you have had to declare personal bankruptcy to finally clean up that debt. While it’s late in the game, it’s good to finally see a proactive approach to this evil practice. Be forewarned.

Last week, attorneys for Kevin Turner and Shawn Wooden representing the concussion settlement plaintiffs requested a court order to notify all the players about ongoing solicitations and misrepresentation by several loan shark firms that have been openly contacting retired players offering them high-interest loans against possible future funds from the settlement offer. In many cases, highly deceptive communications were used in an attempt to sign up applications for these loans. Judge Anita Brody put her stamp of approval on sending out a warning notice to the players this Monday.

We uploaded the original request and the subsequent court order to Scribd to make it easy to view, print and download. You can click on the Full Screen button in the lower right corner of each document window for easier reading (just hit ESC to close).

Here is the order request:

Memorandum in Support for Approval Of Notice of Motion to Contact Class to Address Solicitations Received… on Scribd

And here is the official order as signed by Judge Anita Brody.

Court Approved Notice Regarding Third Party Claims Service Providers and Solicitations on Scribd


Shark Warning — 2 Comments

  1. Thanks, Robert.

    Valuable and timely info about loan scams.

    Laura Aronstein

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