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: 5/19/2008 Subject: Lied to to open CC account
Question Hi, I had received a credit card offer last year and received my card and noticed that there was an annual fee of $59. Before using the card, I called the CC company (HSBC)and told them that I did not want a card with an annual fee so I wanted to cancel it. The woman I spoke with told me that she would take half off the first annual fee and as long as I made my payments on time for the year my annual fee would be waived. I made it clear to the customer service agent that I would not take the card if this was not done and she assured me the annual fee would be waived. I get my recent account statement and it has an annual fee of $59. I called Orchard Bank and told them about this and the rep told me, "Well, I'm sorry you were given the wrong information but I cannot waive the annual fee if you have the card." I told her that if that was the case I was given fraudulent information so that I would open up the card and I wanted to speak with a manager and I was put on perpetual hold. I know $59 doesn't seem like a lot, but I'm in the process of moving and going back to school and I don't think that it's right for a credit card company to think it's okay to lie to someone to get them to open up a credit card then say "I'm sorry you were given the wrong information". Is there anything I can do? Thanks in advance for your help!
Answer I'm afraid unless you have it in writing you cannot prove they waived the fee. You can try climbing the chain of command and talk to a supervisor or go all the way to the executive offices if you can find a contact number but it is sometimes difficult to locate these numbers. Unless someone with authority waives the fee and are willing to put something in writing you will have to pay the fee or cancel the card.
