and all of the accounts were exclusively in their sons name.

Imagine that. You lose your young son in a tragic event and to make things worse, you get hounded by creditors trying to get you to pay his debts.

“Roco and Laurie Crimeni’s 27-year-old son Vincent collapsed and died nearly a year ago of a sudden heart attack while he was playing softball.

“Since then, bill collectors have been calling and writing to his parents constantly to get them to pay his credit card debts”

“It’s like I have a knife in my heart,” Roco Crimeni told the station. “It started to heal and then the phone began to ring.”

Apparently the families lawyer sent letters to each of the companies attempting to collect from explaining the circumstances, but got no results.  When they got reporters involved, one of the accounts, Macy’s, has agreed to close the account and let the family grieve in peace.

“I’m afraid to pick up the phone in my own home,” he said. “That’s the hard part, to tell them my son is dead. How many times do I have to repeat it?”

“It’s been almost nine months of complete harassment,” she said. “I don’t understand what they don’t get.”

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People are losing their homes every second. It’s a scary time for all of us and homeowners given risky loans are suffering greatly for the mishandling done by some mortgage lenders. Still…a class action suit doesn’t hold power in this particular arena. Recently, a federal appeals court has said the Truth in Lending Act does not allow for rescission of mortgages on a class action basis.

Joining an earlier ruling by the 1st and 5th circuits and one California state appellate court that have held that the TILA does not allow claims for rescission is the 7th U.S. Circuit Court of Appeals. A 2-1 decision on September 24, “averts the potential of significant damages for creditors accused of violating disclosure requirements in some of the exotic mortgage vehicles that caused the mortgage market meltdown.”

“This is a significant win for all lenders,” said Jeffrey W. Sarles of Chicago-based Mayer Brown. “Allowing thousands of class members to rescind their mortgages at one fell swoop would threaten lenders with intolerable liability.”

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