Are you in an income-based repayment program? Have you been repaying your federal student loans for more than ten years? Have you tried to work with your servicer on a more reasonable payment plan? -or- Are you in default on your federal student loans? And have you been unemployed for at least 5 of the …
The U.S. Department of Justice, on behalf of the Federal Trade Commission, and the Wisconsin Attorney General, filed suit today against Consumer Law Protection and related companies, along with their owners and operators, Christopher Carroll, George Reed, Louann Reed, Scott Jackson, and Eduardo Balderas for scamming consumers—mostly older adults—out of more than $90 million in a …
The Department of Education just released a guidance document to the Department of Justice on what they feel should be done to allow people to discharge federal student loans, partially or entirely. While I applaud the efforts by the Department of Education, it seems like we’ve watched this movie before. This guidance is just that, …
The Federal Trade Commission is taking action against DK Automation and its owners, Kevin David Hulse and David Shawn Arnett, for using unfounded claims of significant returns to entice consumers into moneymaking schemes involving Amazon business packages, business coaching, and cryptocurrency. The FTC’s complaint alleges that the defendants promised consumers that they could “generate passive income …
Worrying about being scammed by a debt relief provider is a real fear. But what is a scam? That question is surprisingly more challenging than you might imagine. In this podcast, Damon Day and I discuss why calling any debt rescue company a scam is so tricky. For example, if a company provides you with …
The federal student loan forgiveness program, so many people were going to eliminate $10,000 to $20,000 of their federal student loan debt, was halted by a federal court judge. You can follow Brown v. Department of Education for updates here. But Here is the Kicker Federal student loan payments are set to resume in January …
I got one of those hated robocalls. This one was from the Visa and Mastercard department, letting me know they could eliminate my debt under the Fair Credit Reporting Act. I thought I’d play along. Go on. “You need to take advantage of this special limited offer for the government to eliminate your debt,” said …
The Wall Street Journal had an interesting article about professionals working a side hustle to help make ends meet. More people of all income levels are exploring increasing income with a side hustle or gig. The number of people working a side job has increased by six percent over last year, and while those numbers tell a …
A reader asked me about Cardinal Law Center. He is a business executive in the debt relief industry and received an email that mentioned Cardinal Law Center and Option One Processing. The email said, “We are a full-service debt settlement back-end service provider with the most competitive commission pay outs in the industry.” It also …
The Federal Trade Commission is sending more than $830,300 to 1,376 people who began enrolling at Saint James School of Medicine between the Fall of 2016 and the Summer of 2021. The for-profit medical school in the Caribbean and its Illinois-based operators allegedly misled prospective students about their chances of success—passing a medical school standardized …