Seas / altisorce settelment - REO Property Preservation Forum
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post #1 of 18 (permalink) Old 07-27-2015, 02:43 PM Thread Starter
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Seas / altisorce settelment

ANYONE ELSE GET THIS EMAIL


You previously contacted Altisource alleging that Southeastern Asset Services, LLC ("SEAS") failed to pay you for services performed at properties managed by Altisource. Altisource retained SEAS to provide certain services to Altisource. Altisource’s contractual relationship was with SEAS. You alleged to Altisource that SEAS contracted with you to perform services related to Altisource managed properties. To the extent SEAS contracted with you to provide services, your contract was with SEAS, not with Altisource. Legally, SEAS is solely responsible for paying for any services it may have contracted for you to perform.

Altisource attempted to intercede to cause SEAS to pay the alleged debt. However, to date, all such efforts have proven unsuccessful. As a good faith gesture, and without admitting the validity of the debts or any liability for such debts, Altisource is extending an opportunity for you to settle this matter as set forth below.

Based upon the information you provided, Altisource has determined the amount owed it considers may be owed to you by SEAS for services performed at Altisource managed properties. For a limited time, Altisource is willing to pay you an amount equal to thirty-three percent of the amount owed to you by SEAS. This offer is contingent upon your execution of Altisource's Settlement Agreement and Release ("SAR") pursuant to the process described below. Please note that Altisource's current intention is that individuals or companies that enter into a SAR will no longer have the opportunity to provide services at properties that Altisource manages.

If you agree to this non-negotiable settlement, please respond to this communication via email to [email protected]. The response should include all “Information Requests” and “Documentation Requests”, as more particularly defined at the bottom of this communication. In some instances, Altisource may request that you provide additional documentation.

Upon receipt of all information and documentation, Altisource will send you the SAR through DocuSign, an electronic signature tool. After all parties have executed the SAR, Altisource will process payment. The entire process usually takes a few weeks to complete.

Failure to respond to this communication with all information and documentation by July 30, 2015 will result in Altisource revoking the settlement offer and deeming this matter closed. In such event, you will need to address any issues of non-payment directly with SEAS.
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post #2 of 18 (permalink) Old 07-27-2015, 03:48 PM
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Well, how nice of them. This after they continued to send SEAS orders knowing they were not paying their contractors! Well, I'm sure that a lot of contractors will jump at the chance to get pennies on the dollar, that's the real unfortunate part. I can't blame them one bit. It would just be nice if for once everyone stood up together and shouted NO!
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post #3 of 18 (permalink) Old 07-27-2015, 05:00 PM
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33%. I'd just lien the properties but that is just me.
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post #4 of 18 (permalink) Old 07-27-2015, 06:26 PM
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Quote:
Originally Posted by GTX63 View Post
33%. I'd just lien the properties but that is just me.
Agreed.
At 33% I too would lien & take my chances @ getting paid 100% + expenses.

I’ve already told you more than I know.
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post #5 of 18 (permalink) Old 07-27-2015, 07:13 PM
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I have reviewed many docusign forms from Altisource. Their lawyers are NOT looking out for anyone but Altisource' best interest.

BEFORE ANYONE AGREES TO THAT CRAP, CONSULT YOUR ATTORNEY. IF YOU DON"T HAVE ONE, GET ONE. The devil is in the fine print details and they will come back to haunt you..........



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post #6 of 18 (permalink) Old 07-27-2015, 07:36 PM
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I'm thinking that they intend for the majority of contractors to accept the terms; some will fight and lose due to their own violations or lack of proper paperwork to back up the amounts, and a small fraction will hold out and get paid.
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post #7 of 18 (permalink) Old 07-27-2015, 07:42 PM
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What a crock of crap.


SEAS screws up and if you take the Altisource settlement in an effort to get SOME THING for your hard work you are forever bared from working on their properties.

On the front side Altisource is TRYING to make it look like they are being magnanimous.
While on the back side.......... well........ the contractor is still getting the shaft.

Professionals are people who can do their job when they don't feel like it.
Amateurs are people that can't do their job even when they do feel like it.
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post #8 of 18 (permalink) Old 07-27-2015, 10:39 PM
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This is the natural conclusion to every "First rate field services" "true Assets" or whatever the flavor of the month is calling themselves yet the newbies are lining up to get screwed.
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post #9 of 18 (permalink) Old 07-27-2015, 11:53 PM
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right on

Quote:
Originally Posted by BRADSConst View Post
I have reviewed many docusign forms from Altisource. Their lawyers are NOT looking out for anyone but Altisource' best interest.

BEFORE ANYONE AGREES TO THAT CRAP, CONSULT YOUR ATTORNEY. IF YOU DON"T HAVE ONE, GET ONE. The devil is in the fine print details and they will come back to haunt you..........
You can get a lot more then that. Been there done that.
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post #10 of 18 (permalink) Old 07-28-2015, 12:46 AM
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Angry Do You Really Want To Settle?

I own a Process Service company as well, and I can tell you for sure, that attorneys are only out for their client. Period. The attorneys for Altisource are probably telling them to make this puny offering in hopes that the whole fiasco goes away, and they are not named as a defendant in the case.Take the example of a car crash. The attorney for the soon-to-be <defendant's insurance company> will offer the soon-to-be <plaintiff> pennies on the dollar for the claim they have. The <defendant> and maybe his possible attorney are hoping that they can get away without being named in a big lawsuit, and having to pay out of pocket along with the insurance company. An attorney will cost you in the end, but how much more is the attorney going to get from the defendant's insurance than you would get from the puny settlement offered?

The only question that needs to be asked regarding not being able to service any of Altisource properties is this: Do I service any other properties that are NOT controlled by SEAS? If the answer is no, then why would you take the settlement, knowing that all you are servicing is SEAS properties?
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