AboutMichael Brotherton Expertise Consumer/Debtor Rights Advocate.
Current President of Financial Emergency, Inc FKA Debt Mediation & Financial Counseling. Inc, a debt mediation service.
30 years in the credit and collections industry. Former loan officer and debt collector. Managed two middle to large finance companies.
I am well versed in Loss Mitigation practices and the legal collection process. I have helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com.
We actively promote Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. It is my opinion that the more informed you are of your rights in the credit and collections practices the more peace you can have dealing with your FINANCIAL EMERGENCY.
Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be.
Primary business- Debtor Rights Advocacy and Debt Mediation relating to foreclosure, creditor lawsuits, and other serious financial problems.
www.financialemergency.com (copy and paste in browser)
Experience Former loan officer 23 of last 30 years. I have been a debt counselor and mediator since 1992. Current owner of Financial Emergency, Inc. A Debtor Advocacy organization. I also have a radio program called "Financial Emergency" where I routinely answer call in questions from listeners about credit, debt, and the collection system. My emphasis is on "Consumer/Debtor Protection" and the collection process.
Education/Credentials Many years hands on experience. No formal eduction other than Finance and Credit Management training through former employers where I managed two rather large finance companies.
Awards and Honors Numerous letters of recognition from previous employers for excellence in my field.
Expert: Michael Brotherton Date: 1/30/2008 Subject: Stop payment on Check
Question WE are an independent dealer for a cellular service provider. We receive commissions per new contract for services. And are compensated on a monthly basis. Last month we received our monthly commissions check, deposited it in our bank and proceeded to use that deposit to pay monthly expenses. 6 days later we receive a call from our bank saying that the company stopped payment on the check. We did not receive any notice from the company saying this was their intentions prior to the call from the bank.
When we asked the company why this was done, they said the commissions were being applied to our statement, which at that time we had not received yet either.
My question is, Shouldn't the company be required to notify us prior to stopping payment on check?
Answer I don't know whether there is a legal requirement for notification prior to a stop payment but as a courtesy I would think they should have notified you. The question I have is what was their reason for the stop payment? Was the stop payment legitimate? If they caused a problem with your account they may be responsible for NSF fees, etc. If so, file a small claims suit against them. Let them know the problem and try to work it out voluntarily first but if you cant work it out file the suit. The problem is you may be burning your bridge with them and severing your business relationship. This is a tough situation and you will have to think it through before taking action.
