Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

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3:59 PM EST

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To: Sr K who wrote (1315)	6/24/2011 12:30:33 AM
From: tejek	of 1428

Mitch Granat, a lawyer who handles debt-collection cases for J.P. Morgan in Palm Beach County, Fla., on a contract basis, said he was told by other lawyers for the bank that the suits in Florida were dropped because of "irregularities" in paperwork used to verify the validity of the credit-card debt being pursued. Some judges have complained that J.P. Morgan and other credit-card issuers that go to court to collect what they are owed file lawsuits marred by sloppy or even fraudulent documentation of debts. J.P. Morgan hasn't been accused of wrongdoing related to credit-card cases in any court filings. Wow! This is amazing. If it becomes common knowledge, and it will, defaults are very likely to increase. Another reason to stay away from the banks.....at least for now. Thanks for posting the entire article.

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