Attorney General Bill McCollum announced this month that his office is investigating the unregulated debt relief industry. Until he can persuade lawmakers to impose rules, McCollum hopes lawsuits his office has filed and its investigations “send a message to this industry that preying on consumers in financial distress will not be tolerated,” according to an Oct. 15 statement.

The Attorney General’s Office has filed five lawsuits and is reviewing or investigating more than 30 others, including one involving Outreach Housing LLC, a Broward County company that does business in Palm Beach County.

More than 100 of the 600 homeowners who filed complaints said Outreach Housing told them to make a partial mortgage payment of 60 percent to the company, which would work with lenders to reduce their mortgage debts. The company failed to do so, according to the Attorney General’s Office.

That scheme is typical of debt relief fraud. The solicitations come in the mail, appear in newspapers and on the Internet, at bus stops and, most frequently, in telephone calls to a debtor’s home. The company offers to reduce interest rates, modify loans, set up reduced payment plans or settle debts for pennies on the dollar.

Clients are charged hefty upfront and monthly fees and told to stop making payments to creditors and instead send the payment to the debt relief company. Few or no payments or negotiations occur and clients are left with more debt, damaged credit and, often, higher tax bills.

Claims of debt fraud soaring Palm Beach Post,  United States - 2 hours ago As for her credit card debt , the company "made a couple of calls" and came back to her with a proposal to make a reduced, lump-sum payment of $5000 – an …

Click Here for Credit Card Debt Help

Source: Claims of debt fraud soaring – Palm Beach Post

Other Related Articles to Read

• Living (too) Large?
• Bailout Plan Wants to Push More Credit On Overloaded Consumers
• Expect Tidal Wave Of Limit Reductions and Credit Card Closures to Hit Before Christmas
• Debt Settlement: Top Ten Most Misunderstood Facts
• How to Avoid Filing for Bankruptcy – WAAY
• How to Avoid Filing for Bankruptcy – Wflxfox29.com
• Searching For a Debt Consolidation Loan or Credit Card Counseling Service
• Bankruptcy – Latest Bankruptcy News – Bankruptcy
• Raleigh Native Indicted In Connection With Fraud And Extortion
• Six Hundred Out Of $74 Million In Ponzi Scheme

Read the full article at GetOutOfDebt.org, click here: Claims of Fraud by Debt Relief Companies Soaring

The average client who seeks help at the Consumer Credit Counseling Service of Central New York has $47,000 in credit card debt and makes $37,000 a year.

Not surprising, considering that living expenses are going up while wages aren’t rising to match.

“Living expenses have jumped significantly, and people’s income hasn’t kept up,” said Karyn Dettbarn, the credit counseling company’s Albany branch manager. “People are using their credit cards to pay for their expenses.”

Federal Reserve Chairman Ben Bernanke suggested on Monday that a new economic stimulus package should include increased access to credit for consumers, home buyers and other borrowers.

So we already have consumers that are overloaded with credit and the governments answer to the economic crisis is to make it easier for consumers to get more credit?

Bailout plan to perpetuate our house of cards Times Herald-Record, NY - 56 minutes ago By Christian Livermore The average client who seeks help at the Consumer Credit Counseling Service of Central New York has $47000 in credit card debt and …

Click Here for Credit Card Debt Help

Source: Bailout plan to perpetuate our house of cards – Times Herald-Record

Other Related Articles to Read

• Claims of Fraud by Debt Relief Companies Soaring
• Living (too) Large?
• Expect Tidal Wave Of Limit Reductions and Credit Card Closures to Hit Before Christmas
• Business Noticing Increase in Credit Card Purchases. Not a Good Sign.
• Credit cards face bad debt
• In this economy, layaway is in vogue
• Elaborate Scheme Leaves 180 With Over $1 Million In Fraudulent Purchases
• Be Smart and Find the Best Credit Card That’s Right for You
• New Computer Virus Commits Post Transaction Attacks On Your Bank Account
• FTC Bans Landmark Clearing From Using Remotely Created Payment Orders

Read the full article at GetOutOfDebt.org, click here: Bailout Plan Wants to Push More Credit On Overloaded Consumers

A study by the Homeownership Preservation Foundation found that 43 percent of American households spend more than what they earn annually.

Living (too) large? Lancaster Newspapers, PA - 2 hours ago The average American household carries a credit card debt of more than $8000. According to The New York Times, as household debt has mounted, incomes have …

Click Here for Credit Card Debt Help

Source: Living (too) large? – Lancaster Newspapers

Other Related Articles to Read

• Claims of Fraud by Debt Relief Companies Soaring
• Bailout Plan Wants to Push More Credit On Overloaded Consumers
• Expect Tidal Wave Of Limit Reductions and Credit Card Closures to Hit Before Christmas
• Business Noticing Increase in Credit Card Purchases. Not a Good Sign.
• Redefining the American Dream
• Europe puts tight controls on £4bn bank offer
• Credit cards face bad debt
• In this economy, layaway is in vogue
• Searching For a Debt Consolidation Loan or Credit Card Counseling Service
• Elaborate Scheme Leaves 180 With Over $1 Million In Fraudulent Purchases

Read the full article at GetOutOfDebt.org, click here: Living (too) Large?