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My Parents Cosigned for My Private Student Loans I Can’t Afford. – Sarah

stressed-woman

“Dear Steve, Graduated in 2012 with a Bachelors degree in Fine Arts (sculpture). Have about $70k in private loan debt. Went into forbearance, still did not find an alternative in that time. Have looked into and applied for consolidation WITHOUT cosigners, denied. I am curious as to whether or not there are other options available. My payments are over $700/month, ... Read More »

Two More Settle with FTC over I Works

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Two key players in the I Works scheme that allegedly took more than $275 million from consumers via deceptive “trial” memberships for bogus government-grant and money-making schemes have agreed to settle Federal Trade Commission charges that they violated federal law. Bryce Payne and Kevin Pilon, along with Jeremy Johnson and seven others, were named in a complaint the FTC filed ... Read More »

Fidelity Land Trust, Ed Cherry Issue Getting More Bizarre

oops

Today a tipster (send in your tips here) sent in the following documents in the case of the State of Florida against Ed Cherry and the Fidelity Land Trust “debacle.” – Source Apparently Cherry’s attorney is trying to back the hell out representation and Cherry is having none of that. According to Cherry’s filed objection he claims attorney Peter Snyder ... Read More »

First Debt Settlement Plan Approved in Ireland Today

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It feels like a lifetime ago I first began working to bring debt settlement to the Republic of Ireland. Northern Ireland already has a form of debt settlement known at the Individual Voluntary Arrangement (IVA). Not only did ROI not have any chance of a formal debt settlement approach to dealing with creditors, but there was also no real consumer ... Read More »

CFPB Takes Student Loan Problems Seriously

Student Loan Corkboard Concept

Rohit Chopra is not only the Assistant Director for the Consumer Financial Protection Bureau but also the Student Loan Ombudsman there. As an example of how slow government can work at times is the slow pace of solutions for people facing private student loan debt. Currently options are limited and without any long term payment reduction solutions like those available ... Read More »

Final Defendants Banned from Debt Relief Services in Bogus “Rachel Robocall” Scam

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The final six of 10 defendants named in an alleged “Rachel from Cardholder Services” scam have agreed to settle Federal Trade Commission charges that they misled consumers with bogus claims that they would lower their credit card interest rates. The FTC settlement bans Emory L. “Jack” Holley IV, Lisa Miller, and the remaining corporate defendants from telemarketing and marketing debt ... Read More »

Rural Housing Service is Looking for Debt Settlement Help

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If you are a debt relief company and have not yet reached out to the Rural Housing Service (RHS) to provide debt settlement or debt relief help to their clients, maybe you should. The Rural Housing Service (RHS) is a credit agency for rural housing and community development within the Rural Development mission area of the Department of Agriculture. RHS ... Read More »

CRL Report Results in Silence From the Debt Relief Industry

Lowering Coffin

The other day I published the debt settlement recommendation report from The Center for Responsible Lending (CRL), click here. As vocal as critics have been in attacking this site and myself for being outspoken about consumer unfriendly debt relief practices I felt certain people would have comments to offer about the CRL recommendations. But silence, except for one commenter. Some ... Read More »

Financial Bullying a Problem

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Couples argue over finances, but how many Americans feel their mate bullies them over their debt and spending habits? Credit Karma, a personal finance website with more than 20 million members, commissioned Harris Interactive to find out. The online survey, conducted in June 2013, revealed that committed American adults are generally on good financial terms with their spouse or partner. ... Read More »

Text Spammers Banned by FTC

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A group of affiliate marketers has agreed to settle Federal Trade Commission charges that they blasted consumers with more than 30 million deceptive spam text messages and directed recipients of the spam text messages to deceptive websites. Cresta Pillsbury, Jan-Paul Diaz, Joshua Brewer and Daniel Stanitski, and their company Ecommerce Merchants, LLC, which did business as Superior Affiliate Management, were ... Read More »

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