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National Relief Hotline – Not What You Think

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Early this morning I was watching television when the same commercial for National Relief Hotline began running over and over. It caught my attention. It’s important for consumers who see the commercial for National Relief Hotline to understand what exactly it is. The commercial promotes the company can assist consumers who are dealing with: Foreclosure Denied Loan Modification Missed Mortgage ... Read More »

FTC Crackdown on Get Rich Quick, Work From Home, and Biz Op Schemes, Sends Message

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Who thinks screwing consumers is a smart thing to do. Only the scammers. The Federal Trade Commission is concentrating efforts to protect consumers from fraudulent business opportunity programs and stomping on some of them very hard. As part of a coordinated attack on deceptive or bogus business opportunity programs, stated and federal agencies have been participating in Operation Lost Opportunity. ... Read More »

They Help Families Who Owe Too Much – Credit Counseling 1966

They Help Families Who Owe Too Much

Another look back in the history of credit counseling and debt relief help. After you read the article, be sure to check the original publication date at the bottom to see how many decades these same problems have been a problem for consumers. What is interesting is how credit counseling in 1966 would engage in debt settlement in order to ... Read More »

Consumer Credit Counseling Settles Debt on 50% of its Clients – 1968

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As a student of debt history I’m probably one of those odd geeks that spends time reading outdated and arcane material about consumer debt and debt relief activities. Recently I sat down and read a 1968 document put out by the NFCC. Today they are called the National Foundation for Credit Counseling but back then they were the National Foundation ... Read More »

Citi Price Rewind Program. Good Deal or Something to Avoid?

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Citi has just announced a new program called Price Rewind. On a quick glance it looks like an interesting concept. It’s billed as free service for Citi Card holders who register to let the autmated system hunt for cheaper prices on products they’ve purchased using the card. If a lower priced item is found within 30 days from purchase you ... Read More »

Chapter 2 – What Your Money is Trying to Tell You

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Chapter 2 – What Your Money is Trying to Tell You The truth about money is that money is a thing. The leaves left in your gutters could have more value and worth if we all agreed they do. Money is just paper, metal or virtual credit in a computer. The truth about money is that if you think you ... Read More »

Time Running Out for Free Foreclosure Review and Possible Compensation

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People who were foreclosed on in 2009 and 2010 may be eligible for financial compensation from a settlement fund a number of banks have participated in. The problem is that with a December 31, 2012 deadline to get claims in for review, many may not be aware of this program. According to the official website for this program, independentforeclosurereview.com, “The ... Read More »

Rhode Island Warns Consumers About Debt Management Companies

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A story out of Rhode Island from WPRI News warns consumers about debt management companies that use local attorneys to help represent consumers in their programs. The Rhode Island Attorney General refers to the practice of being assigned a local attorney from a national debt relief company, as “ghost writing.” “”It started to get really odd when I was served ... Read More »

Debt is the Symptom, Not the Problem

The stomach ache is the symptom, not the problem. What is causing the stomach ache?

Now here is a point many in the debt world get totally wrong. They assume that the debt someone has is the problem. That’s not true. In fact the debt is the byproduct of another event and like losing partial vision in one eye, it’s the symptom of a greater underlying issue. If the focus is on the debt itself ... Read More »

Premature Occupy Wall Street Group Effort Wants Consumer Debt to Vanish with Rolling Jubilee

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The Occupy Wall Street initiative has come up with a plan to make consumer debt vanish. Instead of fighting the system they’ve decided to participate with something called the Rolling Jubilee. Organizers are buying up consumer debt for pennies on the dollar and instead of collecting on it they are forgiving it. Kind of an interesting idea I must say. ... Read More »

FTC Sues Companies and Alleges Violation of Business Opportunity Rule

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Documents recently unsealed by the court show that on November 6, 2012 the Federal Trade Commission filed suit and asked the court for a Temporary Restraining Order to seize assets of American Business Builders, ENF, Network Market Solutions, UMS Group, United Merchant Services, Universal Marketing and Training, Unlimited Training Services, Shane Michael Hanna, Shane Michael Romeo, and Stephen Spratt. This ... Read More »

Ed Cherry Offers Two Comments to Defend Himself

This site has received two comments and documents from someone who allegedly identifies themself as Ed Cherry. Past posts that included Ed Cherry can be found here. Tip 1 You are monitoring the content from a commercial forum wherein some anonymous poster posted a statement that “Ed Cherry embezzled 600k from iBill”. In reality it was $3.4 million that was ... Read More »

MoneyGram Admits It Aided in Money Laundering

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WASHINGTON – MoneyGram International Inc. – a global money services business headquartered in Dallas – has agreed to forfeit $100 million and enter into a deferred prosecution agreement (DPA) with the Justice Department in which it admits to criminally aiding and abetting wire fraud and failing to maintain an effective anti-money laundering program, as charged in an information filed today ... Read More »

Chase Bank Alleged Fraud Executive Responsible for Foreclosure Victim Compensation

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by Paul Kiel ProPublica An executive who the Justice Department says facilitated a scheme to defraud Fannie Mae and Freddie Mac is now spearheading JPMorgan Chase’s role in the government’s program to compensate victims of the big banks’ abusive foreclosure practices. The executive, Rebecca Mairone, worked at Countrywide and Bank of America from 2006 until earlier this year, when she ... Read More »

HSBC Decides to Participate With Standard Chartered Bank in UAE Debt Settlement Fund

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HSBC bank in the United Arab Emirates has elected to participate in a plan to settle or write off debts owed by UAE citizens. Until now the ability for people to deal with their debts in the UAE without going to jail, has been limited. And while this approach to assisting people with problem debt in the UAE is a ... Read More »

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