Does anyone have their Ameriquest Settlement Check Yet?

The checks have been delayed. Now they are saying by the end of December.

i'm still waiting for my Microsoft/NY State settlement check

Hi,
The checks were supposed to be mailed by now but according to the administrator there was a hold up and they will not be out until the end of December! It seems like we get the short end of the stick no matter what. They had people believing they would have them by the end of NOVEMBER. So much for Christmas shopping with it.

There are so many angry people. One person suggested contacting your attorney general and basically demanding Ameriquest pay us now. If anyone did this to Ameriquest they would foreclose. They first said we would receive our checks in October than middle of Nov. than the end of Nov. now the end of Dec.

Checks will not be mailed until December now.
In December, will it be January?
Hmmmmmmmm.

I contacted the hotline today. They informed me that the December time frame is scheduled not anticipated as the previous ones were.

They have 360 days from the day of the settlement to pay out. I believe the 360 days will be up some time in January.

I spoke with the MN Attorney Generals Office today. Who expressed that other states and Minnesota office are frustration with the issue and said that there was a legitmate issue between Ameriquest and the Administrator. What that means, I don't know. But, that the money has been distributed to the states. He is keeping his fingers crossed that the checks will actually go out between December 12 and the 14th. I am guessing that the "legitimate issue" might have been the verification of the borrows...this is just a guess of mine.

I also asked if we should be worried about the money getting tied up in bankruptcy if Ameriquest should pursue that. He said that the money has already secured and that if their is a bankruptcy filed by Ameriquest it would not effect the settlement.

Update: November 27, 2007


Due to unanticipated circumstances, we were unable to distribute restitution checks in this case in November as originally intended. We apologize for the delay, however, a date has been set for the mailing of the checks. Checks are scheduled to be mailed by December 14, 2007 to all eligible borrowers who submitted a valid and timely Release Form. Please check back to this website periodically, as we will continue to post updates to the status as they become available.

This is a copy/paste from the Ameriquest Settlement site.