Category Archives: Debt Articles
- FTC Gets Contempt Ruling Against Promoter of Credit Repair and Debt Relief Services
At the request of the Federal Trade Commission, a U.S. district court issued a contempt ruling against promoters of credit repair, debt relief, and food stamp services who violated a 2010 settlement with the FTC. The court ordered the defendants to pay for refunds to consumers they harmed, in violation of the court order. The [...]
- Debt Advice and Debt Help Less Needed Survey Shows
A survey by Bankrate.com that was conducted at the beginning of February, 2012, which found people are feeling more confident about their financial standing. That’s good news for a rebounding economy. Bad news for debt advice providers. The most shocking figure for me, in a positive way, was that more than 70 percent report having [...]
- Bankruptcy Filings Set to Rise in Canada
Canadians are facing a projected increase in personal bankruptcies in 2012. Experts say this is due to an increase in lower paying jobs that just won’t allow people to make ends meet on those wages. Benjamin Tal of CIBC World Markets said, “Note that in recent years, the number of proposals … has risen dramatically, [...]
- Fake Debt Collectors from India, Stopped
In December of 2009 I wrote Frightening Calls From Fake Debt Collectors Threaten People With Jail for Payday Loans. It’s a Scam. Since that time people have been receiving an increasing number of brazen calls from fake and phony debt collectors threatening jail or arrest. The names and telephone numbers these fake debt collectors literally [...]
- Scam Alert – Beware of People Promising Help or Money From Mortgage Company Settlements
It appears consumers are receiving calls from telemarketers claiming they are eligible to receive part of the $25 billion settlement a number of states reached with mortgage servicers and foreclosure servicers. Callers are requesting the bank account information to direct deposit funds into the consumers account from the government settlement fund. It is a scam. [...]
- Strategy on How to Defeat A Motion For Summary Judgment In Florida Specifically and Other States Generally
The premise behind a Summary Judgment (SJ) is that the facts are undisputed, and that the only remaining question is one of law. When a plaintiff files a motion for SJ they are going for the quick victory with minimal costs. Defeat the SJ and the plaintiff is in for a long war with greatly [...]
- Pre-Bankruptcy Credit Counseling Certificate: Need One? I Found the Cheapest Class Online Here
Bankruptcy Counseling First let me say that the entire idea of requiring consumers to have to get a pre-bankruptcy credit counseling certificate in order to file bankruptcy is ridiculous. It was ridiculous in 2005 when they passed the law, it’s ridiculous today. The requirement for people to complete some mandatory pre-bankruptcy counseling class was originally [...]
- Student Loan Public Service Loan Forgiveness – New Forms and Documentation Released
The Department of Education has released new forms and documentation to assist government backed student loan holders with getting their loans discharged through the Public Service Loan Forgiveness (PSLF) program. The new documents include updated information on eligible loans: Any non-defaulted loan made under the William D. Ford Federal Direct Loan Program (Direct Loan Program) [...]
- The Super Duper How to Switch Banks Step-By-Step Guide
Flexo (aka Flexo) has a new post over on his tremendous site that gives you a set-by-step approach to switching banks. Seems more people are taking steps to vote with their money against bank policies they don’t agree with and beat feet to another bank. As Flexo says: With automated banking, direct deposits, and pre-authorized [...]
- All About Chapter 7 Bankruptcy Rules
A chapter 7 case starts with the consumer filing a request with the bankruptcy court in the area where the individual lives or where the business borrower happens to be or has its principal place of business or principal resources. In addition to the petition, the debtor should likewise file having the court: schedules of [...]
- Bankruptcy Attorneys Report Major Problems Brewing for Holders of Student Loan Debt
The National Association of Consumer Bankruptcy Attorneys conducted a survey of its members. Of the 860 bankruptcy attorneys that participated in the survey, 81 percent said potential clients with student loan debt have increased “significantly” or “somewhat” in the last three-four years. Nearly two out of five of bankruptcy attorneys (39 percent) have seen potential [...]
- Debt Collectors and Credit Bureaus to Report to the Consumer Financial Protection Bureau
The CFPB has just announced they will be rolling out new proposed rules that will regulate consumer debt collection and consumer reporting markets. Proposed rules would mark the first time these important markets would be subject to federal supervision. “Our proposed rule would mean that those debt collectors and credit reporting agencies that qualify as [...]
- How Do You Get Out of Debt? Take This Survey.
The great people over at the New Road Map Foundation are conducting a survey to uncover how people are getting out of debt. They’ve asked me to share the following announcement with you, which I am honored to do. The New Road Map Foundation is probably something you are not familiar with, but should be. [...]
- How a Chapter 13 Discharge Bankruptcy Works
The Chapter 13 Discharge The personal bankruptcy regulation concerning the chapter 13 bankruptcy discharge happens to be complex as well as has recently undertaked major changes. Consequently, debtors really should talk with competent legitimate consultation prior to filing pertaining to all a chapter 13 discharge encompasses. A chapter 13 consumer is entitled to a discharge [...]
- Chapter 13 Bankruptcy Rules, Questions, and Background
Chapter 13 Bankruptcy Background A chapter 13 bankruptcy is usually called a wage earner’s plan. It permits people with routine salary to develop a strategy to repay all or part of their debts. Under this chapter, borrowers propose a repayment plan to make installments to lenders over three to five years. If the debtor’s current [...]