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Author Archives: Research Department

Help! An Old Credit Card Is Stopping Me From Refinancing

bob-warren

The only thing holding Bob Warren back from refinancing his mortgage is a debt he no longer owes. A few years back, Warren lost his job and had to let the credit cards go. When he got back on his feet, he settled one debt and paid back another. To his surprise, one of his card issuers — Chase — ... Read More »

    7 Ways to Go Broke

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    Finding tips to save money is easy, but what are the things that make us go broke? If you’re doing any of the following you might already be on the path of financial destruction. Having too many credit cards The obvious way to go broke is by abusing credit. Having multiple credit cards is pretty normal, but having them all maxed out is a ... Read More »

      Woman Is Sent 300 Credit Reports By Accident

      credit_report_errors

      A woman in Maine came home to a funny sight earlier in March when her mailbox was stuffed with more than 300 envelopes, each containing a credit report. Here’s what’s not so funny: None of them belonged to her. Katie Manning contacted a local news station (WGME 13 TV in Portland, Maine) after she realized she had all of these strangers’ ... Read More »

        FTC Sending Refund Checks Totaling Nearly $940,000 to Consumers Who Lost Money in Fraudulent Business Opportunity Scheme

        ftc

        More Than 350 Checks Are Being Mailed Starting Today The Federal Trade Commission is mailing 358 refund checks totaling $ 939,207.78 to consumers who lost money after paying performance deposits to become business or sales consultants to National Business Consultants, Inc. (NBC) and its owner, Robert Namer. Consumers receiving checks initially will get more than 41 percent of the money ... Read More »

          Former Tinley Park Man Charged with Bankruptcy Fraud for Concealing Seven Luxury Cars Worth $294,000

          FBI

          CHICAGO—A former Tinley Park resident was charged by information today with concealing his ownership of seven luxury cars during his 2012 bankruptcy proceeding. The charges allege that JOSEPH W. CAMPBELL, 49, concealed cars having a total value of approximately $ 294,000, including a Lamborghini worth $ 122,000, a 1966 Chevrolet Corvette, a 1971 Chevrolet Corvette, a 1978 Pontiac Firebird Trans ... Read More »

            Payment Processors Involved in I Works Scheme Settle FTC Charges

            ftc

            Order Includes Turnover of $ 1.3 Million in Cash and Assets CardFlex Inc., an Independent Sales Organization (ISO), and its principals Andrew Phillips and John Blaugrund, have settled Federal Trade Commission charges that they illegally processed more than $ 26 million in unauthorized consumer charges on behalf of a company called I Works. The defendants are the last of seven ... Read More »

              Let The Game of Whack-A-Mole Begin: Feds Put Forward New Payday Rules

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              If there’s any industry that has mastered the art of the loophole, it’s high-cost lending. When faced with unwanted regulation, lenders are well-practiced at finding an opening that will allow them to charge triple-digit interest to their customers. As we have reported, they’ve been playing a giant, ongoing game of whack-a-mole with regulators and lawmakers in states across the country ... Read More »

                Crowdfunding Industry Set to Explode as SEC Approves Regulation A+

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                On Wednesday, 25th March, 2015, the Securities and Exchange Commission (SEC) approved the final rules to activate implementation of Regulation A+ which is Title IV of the Jumpstart our Business Startups Act, or JOBS Act. The approval of Regulation A+ is a major breakthrough in the crowdfunding industry as it allows startups and small businesses to raise a maximum of ... Read More »

                  At FTC’s Request, Court Shuts Down Credit Repair Scam That Impersonates FTC

                  ftc

                  Scammers Make Impossible Promises, Target Spanish-Speaking Consumers At the request of the Federal Trade Commission, a federal court has halted the operations of a company that calls itself “FTC Credit Solutions.” The company allegedly used false affiliation with the Commission to market bogus credit repair services to Spanish-speaking consumers. In a complaint filed with the court, the FTC alleges that ... Read More »

                    The Moral Ill Effects of Teaching Economics

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                    One of the first experiments to test the hypothesis that teaching economics is debasing people’s morality was conducted by Gerald Marwell and Ruth E. Ames. They designed a game where participants were given an allotment of tokens to divide between a private account and a public fund. If every player invested all of their tokens in the public fund, they ... Read More »

                      National Debt Relief Looks Into Common Excuses For Missing A Payment

                      katvideo

                      New York, NY (PRWEB) March 20, 2015 National Debt Relief recently shared in an article published March 7, 2015 some of the most common excuses consumers have when they miss out on their bill payments.The article titled “What’s Your Excuse For Not Paying A Bill On Time?” looks into these excuses and explains how it affects the consumer’s finances. The ... Read More »

                        3 Ways to Keep Your Debit Card Safe at the ATM

                        tax-refund-or-bigger-paycheck

                        When consumers use an ATM, the most they may worry about is forgetting to grab their debit card or the money out of the machine. However, with the increasing risk of fraud, you have more to fear as you may not notice ATM skimmers secretly working in the background. ATM skimmers, or devices that read and record credit and debit card ... Read More »

                          10 States Where Foreclosure Is a Huge Problem

                          home foreclosure legal document with house key

                          Foreclosure activity in the U.S. declined 9.39% from February 2014 to February 2015, with one in every 1,295 housing units in some stage of foreclosure last month. That’s the lowest the national foreclosure rate has been since July 2006, according to RealtyTrac’s monthly report on the foreclosure market. The analysis looks at how many homes have a foreclosure filing — ... Read More »

                            FTC, Multiple Law Enforcement Partners Announce Crackdown on Deception, Fraud in Auto Sales, Financing and Leasing

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                            Commission Announces Six New Auto Cases in Operation Ruse Control The Federal Trade Commission and 32 law enforcement partners today announced the results of Operation Ruse Control, a nationwide and cross-border crackdown to protect consumers when purchasing or leasing a car, encompassing 252 enforcement actions. The six new FTC cases include more than $ 2.6 million in monetary judgments. There ... Read More »

                              The Real Reason Student Loans Should Be Dischargeable in Bankruptcy

                              Bankruptcy Road Sign

                              President Obama got people thinking when he raised the possibility of discharging certain education loans in bankruptcy within the context of the executive action he signed last week — the one that’s intended to ensure unfettered access to government-sponsored relief programs and a means for registering complaints about unfair treatment. Not to be outdone, 13 U.S. Senators introduced the Fairness ... Read More »

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