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Big Foreclosure Compensation, But Only for the Right Wrongs

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by Paul Kiel ProPublica Can you put a price on the damage caused by a wrongful foreclosure? Banking regulators have. And it’s $125,000. Or $60,000. Or $15,000. Or2026 it’s unclear. Last November, banking regulators launched a process to force the big banks to compensate homeowners victimized by their foreclosure abuses. Many crucial details remained unclear, including how much victims might ... Read More »

Attorney General Darrell McGraw’s Settlement with DP Nets $1.7 Million in Refunds and Cancelled Debts for WV Consumers

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West Virginia Attorney General Darrell McGraw today announced an agreement with DP & Associates of Irvine, CA, that requires the debt collection company to pay a total $1.7 million in refunds and cancelled debts. The company engaged in unlawful and threatening debt collection practices and attempted to collect debts without a license. An investigation by the Attorney General’s Office led ... Read More »

UK Company Took Our Passports And Setup Bank Accounts for Me. – Tom

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“Dear Jon, I lived in the UK for a couple of years since 2006. I went there with a few other people with the help of an agent, who was supposed to help us get settled. They collected our passports, set up bank accounts for us, rented houses etc. After my return I found out all of the others sooner ... Read More »

I Left the UK With Debt and Now Live in Portugal. – Steve

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“Dear Jon, I left the UK in 2001 with approximately 20,000 of combined debt. 6,000 of this was a student loan, plus a bank loan and overdraft. I have been in Portugal ever since, living, working and behaving far more responsibly but ironically have a partner who has now been offered a brilliant job in the UK. I am interested ... Read More »

California Passes Protections for Homeowners Facing Foreclosure

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According to the L.A. Times, California legislators have passed new laws that now await Governor Brown’s signature. These laws would provide the toughest protections for consumers facing problems with the mortgage. “The legislation would make California the first state to prohibit lenders from “dual tracking,” the practice of negotiating with clients to modify a mortgage so that payments become more ... Read More »

Debt Relief Recap and What Consumers Do Wrong When Seeking Help – Podcast

The latest Get Out of Debt Guy show. Damon Day and I talk about the big changes in the debt relief world over the past year. We talk about about how many debt relief companies have failed and how new rules from the FTC have altered the way the debt relief world works. We talk about what people should do ... Read More »

Fidelity Land Trust Transactions. Who Are The Players?

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The Fidelity Land Trust Company has hit my radar and that of the Palm Beach Post. Questions are being asked about the company and the sales pitch they are promoting to consumers to allegedly save their homes from foreclosure or cancel their mortgages. There is so much data to dig though to understand who the players are in this approach ... Read More »

Fidelity Land Trust Owners a Mystery. Who Are They Really?

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A company in Florida, Fidelity Land Trust has made the news lately (here) and comments on another post really piqued my interest to want to know more. The Fidelity Land Trust Company, LLC is a relatively new company making some big claims like, “Fidelity Land Trust has a 100% success rate for all of their litigated properties and has hundreds ... Read More »

FTC Issues Advertising Data On Why Using “Up to” in Ads is Problematic

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The Federal Trade Commission today released an FTC-commissioned study indicating that when marketers use the phrase “up to” in claims about their products, many consumers are likely to believe that they will achieve the maximum “up to” results. The study describes what a test group of consumers thought about ads for replacement home windows that purportedly would provide “up to ... Read More »

Graduate Students Really Screwed in Congressional Student Loan Deal

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As part of the deal to keep student loan government subsidized interest rates at the current levels, rather than have them double in July 1, 2012, a deal was struck. But if you are a graduate student, the cost of your education just got a whole lot more expensive as a result. Congratulations. In the past, students pursuing graduate degrees ... Read More »

Attorney General McGraw Announces Settlement to Hand Over Rogue GI Website to Veterans Affairs

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West Virginia Attorney General Darrell McGraw announced today that the rogue website “GIBill.com” will be transferred to the control of the Department of Veterans Affairs and $2.5 million will be paid to states by the website’s owner as part of a consumer protection settlement with 20 state attorneys general in a bipartisan, multistate enforcement action. Attorney General McGraw, Kentucky Attorney ... Read More »

More Emails Sent in Lloyd Ward v. The Debt Answer Debacle. Tipster Speaks Out.

Thanks to some totally awesome readers I now have copies of some additional emails that are being sent from Lloyd Ward & Associates and The Debt Answer to pick which company might have the rightful owner of the debt settlement clients in limbo. You can read more about this mess, here. As I said in this previous post, until some ... Read More »

Ed Cherry Chapter 7 Bankruptcy Update

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Recently I wrote about the bankruptcy filing of debt relief entrepreneur Ed Cherry of Hess Kennedy and Fidelity Land Trust, The Consumer Law Center fame, here. At the time of his bankruptcy filing his filing was missing a number of documents. Those have subsequently been filed. The updated documents show: Ed Cherry owns personal property of $5,275 but lists liabilities ... Read More »

USA.gov Recommends Only NFCC for Credit Counseling in Email. Why?

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Today I got an email from USA.gov that struck me. The email made it seem as if credit counseling could help rebuild credit. That a no-no for credit counseling to avoid or run afoul of the CRedit Repair Organizations Act. I’ve covered that here. The email USA.gov sent out linked only to National Foundation for Credit Counseling (NFCC) to find ... Read More »

BBB Warns Consumers About Bankruptcy Firm – Affordable Law Center

Low Cost Bankruptcy | Divorce | Attorneys | DUI | Lawyers | Nevada (20120627)

The BBB is warning consumers about Affordable Law Center which claims to offer consumers bankruptcy services at highly competitive rates. Turns out the owner of the company, Ed Jonak, is not a licensed attorney and does he employ counsel admitted to practice law in the U.S. District Court in Minnesota, where bankruptcy proceedings are handled. “There’s a clear pattern of ... Read More »

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