the greatest depression

JPMorgan Hitting Up Debtors’ Kids on MySpace

Ha. There’s a reason JPMorgan can afford to pay back the TARP funds “tomorrow,” if they so wish. Apparently, they will go after their debtors by any means necessary. And this includes the use of creative, fearless repo men!

Illinois resident James Ricobene is suing JPMorgan Chase for invasion of privacy, among other things, alleging that a collection agency hired by the bank went so far as to send his daughter a threatening message through MySpace as part of their attempt to repossess his Mercedes. “Please contact our office immediately so we can discuss the peaceful recovery of the collateral,” the message, which was posted on Gina Ricobene’s wall, read in part.

Failure to contact me will result in further action against your father James Ricobene. Legal options range from having a replevin order served on you or even worse reporting the collateral as stolen to local authorities in Illinois under the A.R.S. act 18-5-504. Failure to comply with this notice of surrender is a class 5 felony and carries a maximum penalty of imprisonment for two years plus all applicable surcharges. You must contact the writer within 5 days to prevent this action from taking place.

This must have been terrifying experience for Gina. Few things are scarier to a twentysomething girl than the idea of getting replevin. We’re pretty sure that’s something Yaz does not protect against.

Dear Gina’s MySpace Wall: I’m From JP Morgan, And I’m Here For Your Father’s Car [TPM Muckraker/TPM]

JPMorgan Hitting Up Debtors’ Kids on MySpace