Law Office of Russell Van Beustring, P.C.
9525 Katy Freeway, Suite 415 Houston, TX 77024-1437
Phone: 713-973-6650 Fax: 713-973-7811
I want to let everyone know that MortgageShield is out of business and is filing bankruptcy. I would also like to let everyone know that the reasons behind there going out of business were not deceptive and they were not a scam but they just had bad management. I used to work there and all of the people that you have mentioned were just employees and didn't do anything wrong.
MortgageShield was originally meant to help people out of foreclosure, and we truly did help a lot of people. The problem that they faced was that the sales that were being done, were being sold to a lot of people that really had no money. We would sign someone up, and start working on there case and when it came to the date of payment, either the check bounced or the credit card got declined. They really did have 40 or 50 people that were in a call center trying to get modifications done and save peoples homes, I saw it with my own eyes and even worked there myself.
One day we cam to work and we were told that the bank had frozen their account and we were not going to get paid and it was best to find another job. I didn't believe them I was upset and felt like a lot of people on this site did. BUT I did my investigation and fould out the TRUTH! According to there bank, because of the number of checks that there were depositing and bouncing the bank DID freeze there accounts and they did have money. Literally 20-30 bad checks were given to them everyday from customers signing up for their service. This raised red flags and the bank closed there accounts and held their funds.
The guys that ran this company, although they didn't know what they were doing, really are good people and tried to do everything they could to get people paid.in order to get their money out of there account the only thing they can do is file for bankruptcy. If they do that, there funds will be released and the trustee will come in take all there property and sell it to pay off their creditors. All the employees and customers that are owned money are considered creditors and should get paid. Eventually.
The most important thing to do is get you name on that list. Call the number oabove and give them your name, he probably already has it but confirm. I understand that everyone here is pissed and rightly so, but hopefully we can all get paid and put this behind us. Being someone that actually did help people with there mortgage, just call you lender and work something out, you don't need mortgageshield or someone else to help you JUST DO IT YOURSELF!
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