Archive for September, 2009
Illinois Attorney General Cracks Down on Debt Settlement Industry
Attorney General Lisa Madigan today took further action to reform an abusive debt settlement industry that wreaks havoc on financially strapped consumers who are increasingly desperate to manage their rising debts in these difficult economic times. Madigan proposed legislation to prohibit debt settlement firms from engaging in unfair practices that harm consumers including charging upfront [...]
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I Was the Victim of a Fraudulent Loan Scam and Can’t Pay My Bills. – Catherine
“Dear Steve,
I was recently the victim of a fraudulent loan scam losing over $5,000. Federal/State authorities are looking into the company. As a result of this, many of my bill payments have fallen behind and my credit score is poor.
Should I try to get a personal loan with a co-signer with good credit or work [...]
California Arrests Dude Operating “No FICO” Credit Card & Credit Repair Scam While Out on Bail
California Attorney General Edmund G. Brown Jr. recently announced that agents from his office and the Santa Ana Police Department have arrested a “serial con artist” who defrauded hundreds of people by charging them $500 to apply for credit cards that did not exist.
Ralph Adam Rendon, 33, of Orange County, was arrested late last [...]
California Sues Credit Repair Business for Operating Illegally
California Attorney General Edmund G. Brown Jr. today sued Todd Swick and Michael Sardo, owners of Los Angeles based Executive Financial Credit Services, for ignoring “repeated warnings” to register with his office and post a $100,000 bond with the Secretary of State.
“Swick and Sardo violated California law by refusing to register their credit repair [...]
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We Are One Disaster Away From Financial Ruin. – Matt
“Hi Steve,
My wife and I have approximately $20,000 in credit card debt as well as an additional $20,000 in student loan debt. We’ve also wracked up $6,000 in dental bills recently. We are always on time with our payments but making ends meet has become a major problem and I only see it going totally [...]
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New York Files Criminal Charges Against Debt Collectors
Attorney General Andrew M. Cuomo today announced the filing of criminal charges against 12 employees of several Buffalo-area debt collection companies for posing as law enforcement officials and threatening to have consumers thrown in jail unless they immediately paid off the debts that they supposedly owed.
All of the individuals charged today worked for one or [...]
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How Much Can My Wages Be Garnished? – Nancy
“Dear Steve,
I have an old crdeit card debt that has recently sent me a notification that my wages are to be garnished. My question is if I make $900 in two week payperiod how much will they take out of my check? I have alot of other bills and I’m afraid they won’t leave me [...]
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Damn, I Was About to Enter a Debt Management Plan When a Debt Settlement Letter Arrived. – Richard
“Hi Steve,
Thank you again for all of the great advice you provide for so many of us in need! It is greatly appreciated. My question is regarding a single creditor. I entered into a Debt Management Plan with a legitimate organization in the industry. My single concern at this point is that one of [...]
I’m Not Sure What Type of Lawyer I Need. Bankruptcy or Real Estate? – PJM
“Dear Steve,
I am not sure what type of lawyer we need Bankruptzy or realestate? We are current with or 1st and 2nd mortgage and are quickly falling behind in credit cards and car payment. What type of lawyer do I need i would like to get rid of the 2nd the bank does not want [...]
My Husband Walked Out on Me and Left Me Disabled and in Debt. – Maggie
“Dear Steve,
Divorced, disable on Social Security, 61 yrs. old. My husband walked out on me in 2005 after taking every dime of security I had worked for all my life. I have a refurbished trailor I purchased by mortgaged property I received after my mother’s death in 2003.
I had two credit cards at the [...]
LendingClub.com Could Not Help Me Refinance My Car Loan. – Erik
“Dear Steve,
My situation revolves around my car loan. I got my loan back in July 2006, and the interest rate was high, understandably because I had bad credit. Now two and a half years later, it seems that it still is horrible, because NO ONE will refinance me. I tried LendingClub.com (I googled my problem, [...]
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I Was Trying to Get In a Debt Management Program But Wife Got Laid Off. – Jonathan
“Dear Steve,
I have some debt that its been over 7 years old, most of them were when I was single, been married for 6 years. I just cant continue like this. total debt is 17,000.00
I being sued by a collection agency for 10,000.00, I was trying to get into one of those debt management program, [...]
Should We Payoff the House, Make Improvements, or Neither? – Nare
“Dear Steve,
My wife and I would like to make about $60 K worth of improvements to our house. The problem is, the house right now (with improvements over time that we’ve made) is already worth $11 K less than the maximum selling price it would fetch on the current market. We don’t necessarily improve just [...]
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Debt Settlement and Student Loans. Will My Student Loan Lender Negotiate With Me And Reduce What I Owe? – Alexandria
“Dear Steve,
Long story short: i have student debt from the mid-late 1980’s. after graduating, i ended up working in careers that helped people, but not myself (financially!). i deferred and defaulted, but finally consolidated and got back on track. i only borrowed $25000, but after all this time (and many years of payments) i owe [...]
The Credit Exchange Introduced Me to Allegro Law. What Do I Do Now? – Ashley
Ashley wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
We Are Deep in Credit Card Debt From Our Own Business. – Kimberly
Kimberly wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
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New Regulations to Restrict Debt Settlement Forms Becomes Law, Now.
Last year Attorney General Blumenthal in Connecticut fought to get new laws in place to protect consumers from debt settlement and debt negotiators that charge consumers and up-front fee to settle debts.
The law has the following provisions:
Obtain a Connecticut debt negotiators license and file a surety bond
Not refer to state licensing or bonding as an [...]
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American Debt Control and Debt Relief USA Unfortunately Back in the News
Interesting article worth reading out of Texas about debt settlement and the Debt Relief USA mess.
People in desperate financial straits will sometimes go to desperate lengths to get out. And some companies use questionable practices to capitalize on their plights.
The most recent example is an Addison-based company that promised to cut consumers’ credit card debt, [...]
None of that Sissy Stuff
This made me laugh. Enjoy.
@GetOutOfDebtGuy
Are you tired of those sissy ‘friendship’ poems that always sound good, but never actually come close to reality?
Well, here is a series of promises that actually speak of True Friendship.
You WON’T see cutesy little smiley faces here -
Just the stone cold truth of our great friendship.
When you are sad, I [...]
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I’m Way Behind on Credit Card Bills and Just Got My First Collection Letter. – Alyssa
This question was submitted to me through the GetOutOfDebt.org site. You can ask a question online here.
Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and [...]
I Was Never Over My Limit But I’m Getting Charged an Overlimit Fee. – Kay
This question was submitted to me through the GetOutOfDebt.org site. You can ask a question online here.
Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and [...]
I Added My Husband as a Cosigner on My Truck Loan to Improve His Credit But Now I Can’t Make My Payments. – JS
This question was submitted to me through the GetOutOfDebt.org site. You can ask a question online here.
Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and [...]
I Didn’t Include All of My Debts in My Bankruptcy. – Kim
This question was submitted to me through the GetOutOfDebt.org site. You can ask a question online here.
Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and [...]
Click here to read the rest of "I Didn’t Include All of My Debts in My Bankruptcy. – Kim"
I Can Afford Only The Minimum Payment. Where Can I Get a Debt Consolidation Loan? – Patricia
This question was submitted to me through the GetOutOfDebt.org site. You can ask a question online here.
Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and [...]
How Can I Increase My Credit Score in the Next Couple of Months? – Kristine
This question was submitted to me through the GetOutOfDebt.org site. You can ask a question online here.
Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and [...]
Advanta Bank Raised My Interest Rate From 10% to 37%. – Barbara
This question was submitted to me through the GetOutOfDebt.org site. You can ask a question online here.
Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and [...]
Click here to read the rest of "Advanta Bank Raised My Interest Rate From 10% to 37%. – Barbara"
We Pay Large School Tuitions Right Now and Having Problems Paying Our Bills. – Adam
Adam wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
I’m 33, Just Married, and Drowning in Debt. – Sean
“Dear Steve,
I am 33 years old and just married in August of 2008. My wife and I bought a home last September but I was laid off in February of this year. So now I have a $1200 mortgage, $300 car payment, and tons of credit card bills which I cannot pay. I recently started [...]
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My Husband Was In The Hospital And Then Lost his Job. – Belinda
Belinda wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
Click here to read the rest of "My Husband Was In The Hospital And Then Lost his Job. – Belinda"
Should We Put the House in My Husbands Name So He Can Go Bankrupt On It? – Barbara
Barbara wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
I’m Thinking of Using Debtmerica Relief. What Are the Ramifications? – Joseph
“Dear Steve,
I am on ssi and va disability without a job and no assets. I am 6 months behind on 5 cc for a total of $10,000. I want to pay them when I start to earn money.
If I wait to pay then use Debt America, what will be the ramifications credit wise, legally and [...]
Should I Be Worried About First Consumer Debt Consolidation? – Misti
“Dear Steve,
Current customer with Allegro law firm. I am concerned about the information I’ve seen on this site regarding this firm and Keith Nelms. I currently pay 59.00 monthly fee to First consumer debt consolidation, I guess this is the third party they have given the info to. Should I be concerned with the posts [...]
I Am Way Upside Down in My House And I Have a Relative That Wants to Help Payoff My Credit Cards. – Paul
Paul wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
My Car Was Picked Up By The Repo Man. What Happens Next? – Michelle
Michelle wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
Click here to read the rest of "My Car Was Picked Up By The Repo Man. What Happens Next? – Michelle"
I Have Tried to Lower My Student Loan Payment Without Luck. – Scott
“Dear Steve,
I graduated from college with a ton of debt.
From AES:
Loan1 = $23,977.76
Loan2 = $35,285.42
Loan3 = $40,775.22
From Sallie Mae:
Loan1 = $2,664.58
Loan2 = $3,552.73
Loan3 = $5,567.47
My income is $42,000 / year.
I have tried to lower payments through AES, but according to the representative, they have made it much tougher to lower payments, and that I do [...]
Click here to read the rest of "I Have Tried to Lower My Student Loan Payment Without Luck. – Scott"
I Owe a Lot in Medical Bills And My Husband Does Not Know About My $50K in Credit Card Debt. – Lou
Lou wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
I Have a Police Case Against Me For Non-Payment of Debt in Dubai. – Abhu
Abhu wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
What Do You Think of Everest Debt Solutions? – Margo
Margo wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
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If I Go to Jail in Dubai For Bad Debts Will My Debt Be Cleared? – Katrina
Katrina wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
We Received a Big Settlement Check and Want to Pay Off All Our Debts. – Rebecca
Rebecca wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
