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Author Archives: Guest Post

Guest Post

Ways to Build Credit Without Relying Solely on Credit Cards

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For those who prefer to pay with cash and avoid the credit card debt cycle altogether, building a solid credit history and high FICO score can be a challenge – but it doesn’t have to be. Only a small portion of your FICO score is based on having and using revolving credit. The first step is to understand what goes ... Read More »

WTF! There’s a Judgment on My Credit Report

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Help! I Found a Judgment on My Credit Report (via Credit.com) It’s scary enough to owe money you can’t pay back, but what may be even worse is finding out that you have already been sued for a debt, but didn’t even know it. Mark wrote on the Credit.com blog: I received a letter stating there was a judgment against ... Read More »

Why Student Loans Can Keep You From Buying a Home

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How Student Loans Can Keep You From Buying a Home (via Credit.com) As student loans take on an increasing presence among the 20-something generation of college graduates who have traditionally made up a high proportion of first-time homebuyers, the impact of student loan debt on a mortgage application becomes increasingly important — especially as about two-thirds… Read More »

U.S. Attorney Plans More Criminal Actions in Debt Relief Industry

White Collar Criminal

NY officials vow attack on predatory debt-fixing (via The Dispatch) Federal authorities announced a crackdown Tuesday on predatory businesses that cheat “desperate and vulnerable” people harmed by the 2008 financial crisis with phony promises to consolidate their debt. U.S. Attorney Preet Bharara told a news conference that charges were brought against the owner and… Read More »

The Future of Credit Cards

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The Future of Credit Cards (via Credit.com) At a recent conference devoted to travel and credit card rewards, executives from Chase, Barclaycard, US Bank, Capital One and American Express were on hand to share their views on the future of credit cards — and there was a broad consensus on where the industry is going in the next few years. ... Read More »

Farmer Decides to Settle Her Own Debt Instead of Using U.S. Legal Service Group

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The article below was contributed by a site reader who wanted to share their path out of debt. I really want to be a good advocate on helping others around me with the same situation as it goes very deep, but even in my darkest time, I am no quitter and was bond to see this whole process through. I ... Read More »

Get Out of Debt Fast: Gold Pot at the End of the Rainbow

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With the tough economic times and high price of gold right now, it is a perfect time to cash in on your gold and diamonds and get out of debt. Gold prices continue to hit all-time highs, so you can get thousands of dollars for gold jewelry that would have been worth hundreds only five or ten years ago. There’s ... Read More »

Former Dextral Managing Director Shares His Bold Story About Ken Talbert

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See February 9, 2013 update at bottom for takedown request received from EFA Processing. This article was written and contributed by Jason Spencer, the former Managing Partner of Dextral Capital Management Fund. He shares his observations and experiences from inside the debt settlement industry. I asked Jason why he wanted to share this story. He said, “The reason is that ... Read More »

Why Transferring Student Loans to Credit Cards is Not a Good Idea

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As the looming crisis of student loan debt nears, some enterprising debtors are no doubt getting desperate. Student loan debtors are being hounded by collection agencies night and day, tax refunds are being intercepted, and wage garnishments are inevitable. So some enterprising debtors are getting the idea to transfer their student loan debt to credit cards with the idea of ... Read More »

2013 Outlook for Credit Counseling: A Legal and Regulatory Perspective

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As the start of 2013 is upon us, nonprofit credit counseling agencies will be trying to anticipate the needs of their communities, by knowing what to expect in the New Year. We don’t have a magic eight ball or special insight into the future, but by looking backward, we think it’s possible to help understand what’s on the legal and ... Read More »

Are CreditOne and First Premier Bank Platinum Credit Cards for Bad Credit a Good Idea?

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Looking to rebuild your credit score, get new credit after bankruptcy or get access to credit when your credit is in the toilet? Folks with low credit scores or recent bankruptcies are getting deluged with pre-approved credit offers that seem too good to be true, according to folks who have sent me copies of the applications recently. So what’s the ... Read More »

What to Do When Your Debt Relief Company Gets a CFPB Civil Investigative Demand Letter

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The Consumer Financial Protection Bureau (“CFPB”) has investigations underway that span the full breadth of the Bureau’s enforcement authority over providers of financial products and services and their vendors. If your company is the recipient of a civil investigative demand (“CID”) from the CFPB the process is not an easy one. You have to issue a record retention notice, negotiate ... Read More »

The Future of Debt Relief Calls for Greater Transparency; Captain Debt America Answers the Call

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Most followers in Steve’s community are well aware that the debt settlement industry has taken its share of blows since the 2010 FTC Ruling. Unfortunately, many of the most ethical firms have born the brunt of that burden, putting increasing pressure on their finances. As competition continues to rise, legal models still claiming the attorney loophole, and state regulators remaining ... Read More »

How to Borrow From a 401k in a Make Sense Way

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Borrowing from a 401k is a major decision. It is important you make certain considerations before borrowing from your 401k, so that your loan doesn’t negatively impact your retirement. The key aspect to borrowing from a 401k vs withdrawing from one, is you won’t have to pay taxes or penalties unless you default on your loan or in some circumstances ... Read More »

What To Do If You Get Sued By a Creditor – Part 1

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PART I: WHERE DO I START? Every collection lawyer and nearly every court views all collection lawsuits the same: a mindless task they don’t really want to do. They were trained for bigger and better things. More “important” things. However, it is the exact opposite for the consumer defendant. It is extremely important given that they intend to grab your ... Read More »

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