timothymccandless's avatarCalifornia ABC System — Assignment for Benefit of Creditors

Of late I have had three clients who have contracted with companies who claim they can settle the second trust deed on the clients home for pennies on the dollar. They clients must pay the agreed amount up front and to the scamming company. As an example this client paid 40,000.00 to settle a 112,000.00. Eagerly my client paid from a loan from relatives. Eight months later still no settlement and when he asks for a refund the company says they are going through an audit and right after the audit he will get a refund. Double talk if you ask me and the company will be using some other “clients’ money if they ever pay back. We sued the and took their default they promised a full refund by Dec. 15, 2011 no refund yet I believe this is a Ponzzi scheme cooked up by some Broker. Advise: when…

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Author: timothymccandless

I have spent most of my professional life helping people who were being taken advantage of by systems they did not fully understand. As an attorney, I represented consumers against predatory lending practices and worked in elder law protecting seniors from fraud. My family lost $239,145 to identity theft, which became the foundation for my seniorgard.onlime and deepened my commitment to financial education. Since 2008, I have maintained a blog at timothymccandless.wordpress.com providing free financial education. Not behind a paywall. Free, because financial literacy should not cost money. I trade with real money using the exact strategy described in this book. My current positions: Pfizer at $16,480 deployed generating $77,900 per year net. Verizon at $29,260 deployed generating $51,000 per year net. Combined: 293% annualized pace. These are my only active positions. Not cherry-picked.

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