Hampden lender’s $10,000 fine waived

HAMPDEN – State officials waived a Hampden woman’s $10,000 penalty after she came through with more than $2,000 in restitution Wednesday, two days after her Sept. 30 deadline.

In a Sept. 9 consent agreement with the state Office of Consumer Credit Regulation, Shellie Robinson admitted that she and her business, Creative Financial Solutions, illegally acted as a supervised lender and credit services organization.

The consent agreement resulted from the OCCR’s investigation into allegations that arose from Robinson’s business dealings with Michelle and Tina Paquette, who on June 26 signed a loan commitment agreement prepared by Robinson for $85,000 at 8.25 percent interest over 360 months. The loan was to be used to buy a house in Augusta.

After Robinson failed to come through with the financing, the Paquettes and their three children were left homeless. The city of Augusta deemed the family ineligible for general assistance benefits, and the Paquettes were forced to live for two months in various Augusta motels, racking up thousands of dollars in expenses, Michelle Paquette said this week. She estimated the total at more than $25,000.

As the result of an investigation, Robinson entered into a consent agreement prohibiting her from engaging in credit and lending in the future.

She was ordered to pay the Paquettes $2,000 restitution for some of the costs they incurred, as well as $250 toward the state’s enforcement costs. She was given until Sept. 30 to make the payments. Under the terms of the consent agreement, Robinson was subject to a $10,000 penalty for failing to make restitution on time.

After Robinson failed to meet Monday’s deadline for paying restitution, the OCCR on Tuesday issued a directive ordering her to pay the restitution and the penalty. The order, however, stipulated that the fine would be waived if she made restitution by 5 p.m. Wednesday.

According to state consumer credit regulator David Stetson, Robinson made restitution at about noon Wednesday. As a result, he said, the penalty was waived.