Get Out of Debt Book Club – Chicago and its Cesspools of Infamy

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Today I’m starting a new series where we look back on how much or how little debt issues have changed over time. The first book in this series is “CHICAGO AND ITS CESS­ POOLS OF INFAMY” by Samuel Paynter Wilson. This is the 1910 edition and dedicated to the good men and women of the … Read more

Rapid Reader Questions: Walmart, Apartment, Credit Risk, College

Q: Does a credit union have to provide a member in writing the amount of interest paid on a loan for tax purposes? A: Depends on what kind of loan it is. Reporting would be voluntary or required by IRS on certain types of loans. Q: How can a financial company put a charge off … Read more

Will Parking Fines or Speeding Tickets Affect My Credit Score?

It’s no fun to be fined for parking in the wrong place at the wrong time or getting a speeding ticket. Driving safely is important, which means that these infractions can even affect other things like your car insurance or life insurance rates. Will parking fines or speeding tickets affect my credit score as well? … Read more

Rapid Reader Questions, Debt Consolidation, Navient, Credit Score, Fraud, and More

Q: Is it legal for a mortgage company to all of a sudden demand a deferment balance from 10 years ago now, or will they foreclose on the home I am one month behind on the monthly payment? A: That sounds a lot like a balloon mortgage (a mortgage in which a large portion of … Read more

Rapid Fire Reader Questions – Levy, Attorney, Collection, Bankruptcy

Sometimes I get reader questions that don’t have enough information for a big answer. So here are some rapid-fire questions and answers. Q: Can a collection agency take money out of an account that is not the debtors? A: If the debtor is not a signer on the account and the account is in the … Read more

Update on Case Against Premier Student Loan Center

It appears the case against Consumer Advocacy Center and Premier Student Loan Center is still under management by the Court Appointed Receiver. What follows is the Receiver’s update for activities between May 1, 2021 to October 31, 2021. Premier Student Loan Center Case Summary I. RECEIVERSHIP ACTIVITIES During this period, the Receiver and his team … Read more

Gambling Has Ruined My Life. I Don’t Know What to Do With My Debt?

Question: Dear Steve, I just got separated from active duty, but I gambled through the funds I earned through that time (April 2021-August 2021), so I basically have nothing $8,000 in owed on Credit Card Nearly $8,000 for an auto loan Can’t afford car insurance Personal loans ( 2) both in the amount of $2,000 … Read more

Bogus Student Loan Relief Payment Processor Banned

The Federal Trade Commission obtained an order permanently banning a payment processor that facilitated a fraudulent student loan debt relief scheme from processing debt relief payments. The order also requires the company and its owner to surrender $500,000 to the FTC for consumer redress. The FTC’s complaint against Automatic Funds Transfer Services, Inc. (AFTS) and … Read more

Do You Have Any Experience With Robert C. Hughes III or Global Legal Resolution?

Question: Dear Steve, I read your article/review of Global Legal Resolution, Inc from many years ago and this is definitely a scam. The two con-men are Robert C. Hughes III and partners. He is not an attorney as declared in the advertisement you referenced, as a matter of fact there were 6 complaints against him … Read more

Can I Believe the Document Preparation Company Provident Solutions?

Question: Dear Steve, I have DOCUMENT PREPARATION AND ARBITRATION SUPPORT AGREEMENT with Consumer Services This contract (the “Agreement”) is an agreement for document preparation and arbitration support between Provident Solutions, a corporation organized under the laws of California located in San Diego, California (“We/Us/Our”) and (collectively and individually “You/Your”). Since We are a California Document … Read more