If you thought the sub-prime mortgage collapse was a disaster just wait until there's the full shakeout of the consequences of giving loans to illegal aliens. Those same companies that thought it was a good idea to give unknown persons who are illegally in the country loans are the same type of companies that gave them credit cards. These companies now find it simply shocking that someone who could be caught and deported may not pay back the money they took and used.
Like I said, if you thought that was a mess then just wait. Credit card companies, yes the same ones that charge an extortionist and lone shark rate of near 30% interest, are now crying for a bailout. This will continue on as there are loans you are not even thinking of that these "fine" institutions have granted to those with fraudulent documents.
How about all the student loans given to those illegal aliens? How about the car loans defaulted on by illegal aliens? There are literally tons of loans that these businesses actively courted the illegal aliens with over the past few decades that are now coming home to roost.
And these companies that thwarted the will of the American people, the laws of our land, basic common sense business practices and ethics are now lined up expecting the US taxpayer to pay for all their indiscretions to the tune of trillions of dollars.
And the funniest thing of all is that these same companies actually called those of us outraged at their practices of giving loans to illegal aliens xenophobes and racists to cover up for their incompetent decision making.
The other shoe hasn't dropped yet folks.
Saw this was last posted on December of 2008 but I would still like to post a comment.My husband's SSN has been being used by 2 male Hispanics for over 10 years. google robert guenterberg or go on You Tube It's your law Curtis Law Office Debra Guenterberg to read more on our nightmare. Basically if someone uses their own name but your SSN to work, the IRS and SSA tell employers on their web-sites that they cannot terminate or take any action against an employee for failing to provide the employer with a valid SSN. So the employer knows that the employee is not using a "valid" SSN and this SSN could be YOURS. Then the employer puts YOUR SSN on the W2 and collects taxes on someone working here illegally with YOUR SSN. The SSN identity theft then takes this along with their fraudulent driver's license, opens up a checking and savings with their name but YOUR SSN. Then the thief gets a credit card with their name with YOUR SSN. Then the thief gets a home loan with their name and YOUR SSN. Lenders do not authenticate that the SSN really belongs to the identity thief. They rely solely on the credit reporting agencies. The identity thief has established their own credit report using their name but YOUR SSN. Any loans or credit they have obtained with YOUR SSN will not show up on YOUR credit reports. The credit bureaus allow this SSN identity theft as they make more money on YOUR SSN. The FTC knows the credit bureaus are doing this and since the credit obtained using YOUR SSN but in the identity thieves name does not appear on YOUR credit reports the FCRA only covers YOUR credit report. Neither the IRS or the SSA will tell you that they know that someone is working with YOUR SSN because they claim that Federal Law prevents them. They claim that under IRS code 6103 and the Privacy Law they are prevented from doing so. I totally disagree and actually believe that these federal laws actually allow the IRS and SSA to let you know that SSN identity fraud of YOUR SSN has occured. These federal agencies send letters to the employers and to the identity thieves letting them know that the name/ssn is a "no-match". Ummm-no wonder we as taxpayers had to bail-out these lenders and creditors. By the way, the men who used my husband's SSN may not even be American citizens. Law enforcement tells us that they just want the "AMERICAN DREAM"! Contact your legislators and good luck as most of them will send you back to law enforcement (who laugh) and tell you to report the fraud to the 3 major credit bureaus (this is where I laugh).
Posted by: Debra Guenterberg on March 16, 2009 03:08 PM