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Legal Related

Fair Debt Collection Practices Act Provides New Business Opportunities To Some Lawyers

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The 1977 federal law to protect consumers from abusive debt collectors, better known as the Fair Debt Collection Practices Act (FDCPA) has molded a profitable business opportunity for some lawyers. Some lawyers are using the law as a tool for lawsuits which results in some cases avoiding litigation in favor for quick settlements. Colorado has become one of the nation’s ... Read More »

Active Duty Soldiers Harassed For Debts With Threats Of Family Being Arrested

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photo © 2007 The U.S. Army | more info (via: Wylio)I would like to preface this next news story with my exact facial expression. I encourage you join me. Please, if you would, raise your eyebrows, drop your jaw about an inch and let the fire rage in your eyes when you read about this latest fraud find. Stephanie Lowinger, ... Read More »

Nearly $700,000 and 27 Months Jail Due From Texas Energy Company Bookkeeper for Embezzlement

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More than $659,000 was embezzled by Constance Bexley Iwanski, a Texas energy company bookkeeper. Iwanski will face up to 27 months in federal prison and be required to pay the company their money back. Iwanski had been with the company for 31 years and had been solely in charge of the books for 17 years. Between December 2002 and December ... Read More »

Chase Bank Alleged to Not Be Able to Confirm Real Balances Owed While Shredding Documents

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Chase Bank has recently become the subject of a whistleblower complaint to the SEC by Linda Altamonte, a described mid-level employee of the Chase Bank Credit Card Litigation Department. Documentation on this case states: Chase Bank sold to third party debt buyers hundreds of millions of dollars worth of credit card accounts that were marked by Chase Bank as Judgment ... Read More »

Indiana Closes Debtors’ Prison in Vanderburgh County

In 2009 a local Indiana county court was doing some very bizarre things when it came to debtors. Apparently the local court was threatening debtors with contempt if they did not make payment arrangements to pay judgments against them, even if they were exempt from paying. It is reported that the Indiana judge had this exchange with one consumer. The ... Read More »

Does the Wave of Fair Debt Collection Practice Act (FDCPA) Suits Benefit Consumers or Lawyers?

A tipster (send in your tips here) forwarded to me an article about Thomas Lyons, Esq. in Minnesota who was disbarred in 2010 for filing suits under the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA). While there is a need for consumers to have recourse in bringing legal suits against creditors for bad acts, ... Read More »

GAO Takes Closer Look at Home Loan Modification Scams

The Government Accountability Office (GAO) comprised a report, Homeownership Preservation: Federal Efforts to Combat Foreclosure Rescue Schemes Are Under Way, but Improved Planning Elements Could Enhance Progress, based on “information available to federal and state agencies and nonprofit organizations, such as consumer complaints and the number of enforcement actions.” The report revealed two predominant schemes in this day and age ... Read More »

Students Fight Back Against For-Profit Colleges: Westwood College Sued For Fraud

We’ve covered this topic time and time again (see Know Your For-Profit College ABC’s: Assertive, Bold and Cheeky. How I Almost Became a For-Profit College Statistic and Government Finds Fraud and Deception in Marketing for For-Profit Colleges); for-profit colleges and their deceptive practices to get students to enroll and take out loans they cannot afford. However, on August 21, 2010 ... Read More »

FTC Hopes to Eradicate Broken Debt Collection Litigation and Arbitration

A report released by the Federal Trade Commission Monday featured the FTC’s complaints about debt collection in our country today. The report featured the conclusion that “consumers are not adequately protected in either debt collection litigation or arbitration.” The FTC put forth recommendations to both the federal and state governments on how to make the debt collecting system “both efficient ... Read More »

Abusive Debt Collector Accused of Bankruptcy Fraud : When The Collector Becomes the Collected

Over the years Jack H. Boyajian, a seasoned debt collector, has faced accusations from authorities across the U.S. for “illegal methods to squeeze debtors”. This year a new accusation arose against Boyajian after he filed for bankruptcy in August of 2009, that he has defrauded creditors by concealing assets from the court. The Federal Government says he owes around $670,000 ... Read More »

The Birth of a New Urban Myth – Jailed for Debt in the U.S.

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Recently we covered stories of people being jailed for debt in the U.S. Amanda did an excellent job in putting all the facts together and you can read that story here. Well here is a recent video by a very misinformed person that makes all sorts of incorrect allegations about being jailed for debt in the U.S. Okay, the video ... Read More »

Most Debt Buyer Lawsuits Foiled By Inability To Prove Debt Owed

Debt Buyer Palintiffs Failed to Substantiate That a Debt is Owed

The Municipal Employees Legal Services of New York’s District Council 37 has seen an increasingly startling number of cases cross their desk over the past few years involving cases pertaining to debt buying lawsuits against consumers. Given that these sort of cases have doubled over the past 10 years, they took a special interest into the matter and conducted a ... Read More »

Ignoring Debt Until Police Show Up. Is Jail in Your Future?

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When I first started working in the financial world of helping people with their debts I was told that doing nothing with the debts was an option, not a viable one, but an option nonetheless. A recent article from the StarTribune in Minneapolis, Minnesota showcased what happens to people in Hennepin County, Minnesota who take that very route, ignoring debt. ... Read More »

What to Do If You Are Sued

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Finding yourself at the wrong end of a lawsuit can be stressful. Whether you are sued for a relatively small amount in small claims court or a larger amount in circuit court, the experience is never pleasant. If you are sued in small claims court, you will find that the system is designed for people who are not necessarily familiar ... Read More »

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