I need some serious help making a decision

[craigwg]

I found an ad saying, "If you have good credit you can make $500 per month." I replied requesting more information because I have extremely good credit. Here is the email I got back:

"We are a law firm that fights banks to get home owners a loan modification. Because the banks don't like our business, they make it very hard for us to process credit cards. All of our names are attached to the business and they continually cut of our cash flow. We need a new name with good credit to apply for a merchant account (allows us to process credit cards). We can negotiate a flat monthly payout or a % rate for your compensation. Please let me know if you are interested. We are very reasonable and run an honest business."

I replied back with this:

"I am a homeowner, have a wife, two kids, and I’m very proud and conscious of my credit. I will need to do some research to verify beyond all shadow of a doubt that my own credit will not be damaged in anyway. I am also in a mortgage that will need to be refinanced soon (It’s an ARM).

I am interested. I hate the mortgage system. If there was a method by which we could PAY my mortgage in full and get the title in my hands, you’d be surprised what I’d be willing to do!

What information can you give me that my own credit will be safe? I plan on doing my own research as well. I don’t want any of my bank accounts closing down. I can not afford anything the least bit funny financially. My family is on a tight budget. We pay all our bills and I plan to keep it that way!"

They replied back and said this:


"First of all, I think that you could be a good candidate for a Loan Modification on your mortgage. I would be happy to get you in contact with our top agent to go over financials for qualification whether or not you choose to proceed with the merchant account.

Let me explain the situation in more detail. When underwriting from the credit card processing bank found out that we provide a service that they do not support (loanmods) they closed our account. Other business models they don't support: bankruptcy attorneys, debt settlement, car loan mods... When a merchant account is closed they freeze any funds that have been processed and do not release them for six months. We currently have three accounts that have frozen funds (this hurts our business immensely). Underwriting can now see any ssn's, addresses, phone #'s related to a business that services loanmods. The goal is to set up a new account with completely fresh info under a new DBA. This is where you would come in.

As far as your credit being effected, I can provide reference from the owner of our closed accounts. (Name Ommitted) is at 1-xxx-xxx-xxxx She can confirm with you that she still has a GREAT credit score despite the terminated merchant account. We are a legit law firm, the way I see it, you can only benefit. I completely understand your concern and you should never go into a situation blindly, do your homework and get back to me."



I am no expert at this but I'm no dummy. Should I do this? I do need the money. I will not ever do anything the least bit illegal. I must protect the financial security of my family which means guarding my credit score, ssn, and everything else. But I do want to use the tools I have available to make as much money as I can, and I do need the money. Can anyone help me with some advice? I do not want to be the dummy here. I don't want to be the statistic. Is this a scam? I have researched their firm name and address and they seem real. Help me discern the best path here!



Thank you

Sincerely, Craig

[thesadtruth]

In my humble opinion this sounds like someone fishing for your personal information so as to be able to rip you off!

My advice? Run! Away!! In the opposite direction that you started from!!!

There are SO many warning flags in those email responses you received that even my skin is crawling.

I could be wrong but I'd personally decide to err on the side of caution.