Question: Dear Steve, I have been paying Litigation Practice Group $283 for 17 months for debt relief! I was told that my debt would be relieved in 18 to 24 months! After watching my credit deteriorate, I decided to pay off my creditors and cancel my agreement with Litigation Practice Group! They told me I … Read more
Question: Dear Steve, I attended IADT and didn’t graduate. I left the school after my department was closed /merged with another. They didn’t tell us they were closing/merging the departments for a couple of months. Instead, they told us we were just learning the basics in case we needed a more rounded skill to get … Read more
I’m pulling the plug on my experiment with trading cryptocurrency. I’ve written about my introduction to crypto trading using automated algorithms. These tools are hyped as being able to make trades on small movements and make a half a percent here or two percent there. Some of the trades over the past four months did … Read more
In the CFPB case against Consumer Advocacy Center, Premier Student Loan Center, and others, Sarah Kim has settled. Here is the backstory from court documents: “Plaintiffs the Bureau of Consumer Financial Protection (Bureau), the State of Minnesota, the State of North Carolina, and the People of the State of California (collectively, Plaintiffs) commenced this civil … Read more
Question: Dear Steve, I have significant credit card debt and a repossession Is it better to do debt settlement or file chapter 7 bankruptcy I know neither are good options but we are very upside down and cannot afford our payments. Tina Answer: Dear Tina, It is interesting how a seemingly simple question can have … Read more
In 2013 I wrote the post below about thinking about if college was the right choice. It is now 2022 and I was surprised to see this mainstream television piece now talking about the same issues. From May 15, 2013 I hear all the arguments about the value of a college education. And I agree … Read more
The Consumer Financial Protection Bureau (CFPB), in partnership with the New York Attorney General, filed a proposed stipulated judgment in federal court to settle its case against a debt collection enterprise and its owners and managers. The judgment would order all participants in the scheme, based in upstate New York, to exit the debt collection … Read more
Question: Dear Steve, I’ve been an Amex customer for ten years and have five accounts. I spend over $1M each year, closer to $2M on average, and out of the blue, all accounts closed. No missed payments or anything like that. I pay the balances in full each month. I was told it “was a … Read more
It is not looking good for people and their personal finances. But, from the data released by the Federal Reserve, it certainly appears the pent-up demand for saving and spending has exploded following the perceived end of the coronavirus pandemic. Saving rates went way up during the pandemic. Between increased benefits and reduced expenses, people … Read more
The topic of student loan forgiveness has officially become a political hot potato and talking point. If we expect lawmakers in Congress to study any issue and come to an educated compromise, we are fooling ourselves. Republicans in Congress have introduced the Student Loan Accountability Act. The Student Loan Accountability Act would: prohibit the Biden … Read more
Question: Dear Steve, I’m living on permanent disability and dealing with credit card minimum payments that are eating most of my monthly income. I have been told that ACCC American Consumer Credit Counseling (the nonprofit organization) is great at reducing interest rates and monthly payments by 50%. Is this true? Are they reputable? What could … Read more
Question: Dear Steve, I am a single registered nurse age 51 who bought my first house in 2018 in California. I make just enough money to pay for everything, with an extra part-time job that I do on the side as needed when I need extra cash. I was recently turned down for a HELOC … Read more
Bankruptcy filings continued a steep two-year-long fall that coincided with the start of the coronavirus (COVID-19). Filings fell 16.5 percent for the 12-month period ending March 31, 2022. According to statistics released by the Administrative Office of the U.S. Courts, the March 2022 annual bankruptcy filings totaled 395,373, compared with 473,349 cases in the previous … Read more
Is everybody having fun? According to the feds, the economy is booming: millions of new jobs and rising wages. The defense industry and its stockholders are getting rich from the Ukraine War, and college students are likely to get all their student-loan debt forgiven. Ain’t that great! In Baton Rouge, where I live, thousands of … Read more
Yesterday I wrote How to Get Your Federal Student Loans Forgiven if You Go to Prison. The results of my research were so surprising I had to make this podcast as a follow-up. This is just another wrinkle in the ridiculousness created by student loans. After taking a deep dive into this subject, I’m not … Read more