Author Topic: Trolling Lawyers on Facebook  (Read 3366 times)

BruiserB

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Trolling Lawyers on Facebook
« on: October 13, 2017, 02:43:04 PM »
A link to this group showed up in my Facebook feed.

http://americanvalidation.com/dismiss-illegal-lending-club-loans-now/

I think I saw a similar one a few weeks back trolling for Prosper borrowers.  Thoughts?

PennySaved

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Re: Trolling Lawyers on Facebook
« Reply #1 on: October 14, 2017, 08:35:40 AM »
I went to American Validation's facebook page at
https://www.facebook.com/americaneducationnews/

One of the post is about a lawsuit against LendingClub, see below.  Can't read the entire article with subscribing to Law360. Wonder what this lawsuit is about. 

LendingClub Investors Fight Class Cert. Objectors
By William Gorta

Law360, New York (October 6, 2017, 7:49 PM EDT) -- A proposed class of investors suing LendingClub Corp. over the alleged hiding of defective internal controls asked a California federal judge on Thursday to ignore a bid by objectors fighting certification of the class, saying the objectors are just trying to become the lead plaintiffs in the case.

The lead plaintiff in the federal suit Water and Power Employees' Retirement, Disability and Death Plan of the City of Los Angeles said the objectors, who are lead plaintiffs in a similar California state class action,...

PennySaved

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Re: Trolling Lawyers on Facebook
« Reply #2 on: October 14, 2017, 08:45:30 AM »
Interesting claims on American Validation Website:

"Loans issued via the Lending Club portal cannot be validated.  That means the investors involved in the loans were not licensed to loan money in the state that you live in.  Additionally collecting a fee for a loan or in exchange for a loan up front is illegal."

Besides contact information, American Validation want the borrowers to provide to them their LendingClub payment, LendingClub balance, credit card monthly payments, and total credit card debt as required information.  Sounds like they are looking for customers for something else.

SeanMCA

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Re: Trolling Lawyers on Facebook
« Reply #3 on: October 14, 2017, 01:52:24 PM »
The image used on their Prosper page is a photo that I took with my cell phone at a trade show: http://americanvalidation.com/prosper-loan-fee-scam/
Nice copyright violation.  :(

My guess is that this company is running a debt settlement scam. They have popped up everywhere in the online business lending space. Basically there are websites and "lawyers" that contact borrowers and tell them that their loan was illegal and to divert all their future loan payments to a supposed escrow account while they attempt to wipe away their debt or settle it for pennies on the dollar. It's just a scam and this website employs the same routine. That's why they're asking about how much credit card debt the borrower has. It's so they can supposedly enroll all the debt and get it wiped away or settled. The "escrow" money is then all stolen by the scammers and the borrower is left even more screwed. Eventually the company changes its name when too many complaints roll in.

Edit: Prosper employees if you're reading this, that photo was swiped from my website without my permission. I have nothing to do with American Validation.
« Last Edit: October 14, 2017, 01:55:16 PM by SeanMCA »
I'm a merchant cash advance veteran exploring the p2p lending waters.

Debt Free

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Re: Trolling Lawyers on Facebook
« Reply #4 on: October 14, 2017, 10:51:26 PM »
Sounds like something from the sovereign citizen movement...

"... The gold fringe around the American flag, as displayed in many federal courts, designates them as Admiralty courts ..."  blah, blah, blah.