Norfolk Financial AGAIN under investigation in Mass., opens office in R.I.

As reported in the Boston Globe, Daniel W. Goldstone, owner of Norfolk Financial Corp., is being investigated by the Massachusetts attorney general's office for debt-recovery practices.

Here's a laugher of a statement made by John J. O'Connor, a Boston lawyer who works as Norfolk's processing agent. He told the Providence Journal that the Norfolk Financial Corp moved to comply with new Massachusetts licensing requirements and for Rhode Island's "vibrant business climate and geographical convenience." Come on, typical lawyer hogwash. We fell over laughing after reading that statement in the Boston Globe by Norfolk Financial Corp's cronie.

Here's the bottom line. Rhode Island is one of a few states in the country without a state statute governing debt-buying or collecting companies according to the National Consumer Law Center.

More information is available on Norfolk Financial Corp being investigated at http://www.boston.com/business/ticker/2006/10/norfolk_financi.html