fbpx

OneMain to Pay $20 Million for Deceptive Sales Practices

The Consumer Financial Protection Bureau (CFPB) has ordered installment lender OneMain Financial to pay $20 million in redress and penalties for failing to refund interest charged to 25,000 customers who cancelled purchases within a purported “full refund period,” and for deceiving borrowers about needing to purchase add-on products to receive a loan. OneMain will pay …

Read more

The IRS Resumes Collections Notices: What You Need to Know Before It’s Too Late

Average person Not Prepared Anymore for Money Troubles

The Internal Revenue Service (IRS) has announced that it will resume issuing collections notices to taxpayers that were previously suspended during the COVID-19 pandemic. Here are some important points to note: No date has been set for when the notices will be sent out, but the IRS has a detailed plan in place to stagger …

Read more

How Can I Deal With Payday Loan Debt?

You Do Know Debt Forgiveness Fuels a Healthy Economy

There are legitimate ways to stop payday loans and cancel or pay less, depending on your specific situation. Here are some options to consider: Negotiate with the lender: You can try to negotiate with the lender to work out a payment plan that is more manageable for you. Explain your financial situation and offer to …

Read more

9 Things to Know About House Republicans Move to Halt Biden’s Student Loan Forgiveness Program

Is Americor a Good and Reputable Company?

What happened: House Republicans passed a resolution to terminate President Biden’s policy to cancel student loan debt for millions of borrowers. Who supported it: The resolution was supported by every Republican on the House Education and the Workforce Committee and introduced by Rep. Bob Good, R-Va. What the program entails: Biden’s program would cancel up …

Read more

Over 615,000 Borrowers Receive $42 Billion in Debt Relief Through Public Service Loan Forgiveness Program

The Public Service Loan Forgiveness (PSLF) program was established in 2007 to provide debt relief to nonprofit and government agency employees. The program’s goal was to forgive the student loans of borrowers after they made 120 qualifying payments (10 years of payments). However, the program’s approval rate was low, with only around 7,000 borrowers approved …

Read more

Permanent Ban from Debt Relief, Telemarketing for Operators of Debt Relief Scam

In November 2022, the Federal Trade Commission (FTC) charged Sean Austin, John Steven Huffman, John Preston Thompson, and their affiliated companies with deceiving consumers by falsely promising to eliminate or substantially reduce their credit card debt. The FTC alleged that the defendants took tens of millions of dollars from people through their deceptive debt relief …

Read more

FTC Stops Student Loan Debt Relief Schemes that it Says Bilked Students Out of Millions

Stop

The Federal Trade Commission has stopped a pair of student loan debt relief schemes that it says bilked students out of approximately $12 million by using deceptive claims about repayment programs and loan forgiveness that did not exist. The agency also says the companies falsely claimed to be or be affiliated with the Department of Education …

Read more

Former Credit Counseling Executive and Serial Dirtbag, Andris Pukke – Arrested

Another Half Assed Attempt to Fix Federal Student Loans With Bankruptcy

Damian Williams, the United States Attorney for the Southern District of New York, and Michael J. Driscoll, the Assistant Director in Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today the unsealing of an Indictment in Manhattan federal court charging ANDRIS PUKKE with wire fraud and with engaging …

Read more

Who Knew TitleMax Sucked This Bad?

Another Half Assed Attempt to Fix Federal Student Loans With Bankruptcy

Today, the Consumer Financial Protection Bureau (CFPB) took action against a web of corporate entities operating under TMX Finance, broadly known as TitleMax, for violating the financial rights of military families and other consumers in providing auto title loans. The CFPB found that TitleMax violated the Military Lending Act by extending prohibited title loans to …

Read more