Lender Exchange, Inc.3325 Washburn AvenueCharlotte, NC 28205Dear Mr. McCurd:
November 17, 2008RE: File No. 0811910Carolyn SwannPO Box 3Yanceyville, NC 27379
have received a complaint against your company
the above referepced individual.A copy
the complaint is enclosed for your review.
have very serious concerns regarding the complaint filed
Carolyn Swann. Inparticular, the information we have received indicates that your company may be providingunlawful "foreclosure rescue" services and requests payment
an advance fee for these services.Ms. Swann states that she and her husband contacted Lender Exchange in July 2008 forassistance in saving their home from foreclosure. Ms. Swann states that in September 2008, sheand members
church paid Lender Exchange a total
1,850.50 for foreclosure assistanceservices only to find out that her house had already been sold two months prior.
your information, in 2005, the North Carolina General Assembly enacted Senate Bill590, entitled
Act to Further Protect Consumers Seeking Assistance With Managing TheirDebts." Among other provisions, the new law expanded the definition
"debt adjusting,"defined in North Carolina General Statute § 14-423(a)(2), to include:"the business
debt settlement or foreclosure assistance whereby any personholds himself or herself out as acting for consideration as an intermediary between adebtor and the debtor's creditors for the purpose
any debt of.the debtor, whether
not the person distributes thedebtor's funds
property among the creditors, and receives a fee
other considerationfor reducing, settling,
altering the terms
the debt in advance
thedebt settlement having been completed or
all the services agreed to having
rendered in full."