Articles revolving around debt related issues. These are geared towards advice for consumers and general debt news.
Today the Consumer Financial Protection Bureau and Lexington Law, the largest credit repair operation in the United States, entered into a Stipulated Final Judgement and Order the Court must approve. I would be surprised if they didn’t. I’m going to bold what I think are the most important revelations. The proposed order says, “Plaintiff Bureau …
The Federal Trade Commission and the Florida Attorney General are sending refunds totaling more than $540,000 to consumers nationwide who were defrauded by Life Management Services of Orange County, LLC, and related companies who tricked them into paying for worthless credit card interest rate reduction and debt elimination programs. The average check amount is $117. The FTC is …
This month, more than 7,100 people who were charged illegal advance fees by Timemark, Inc. to renegotiate, settle, reduce, or alter the terms of their federal student loans will receive a check in the mail. Payments will be sent on July 6, 2023, through Epiq Systems. If you do not receive a check and believe …
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 …
Is plastic growing rapidly out of control. Here is what you need to know. U.S. credit card debt has jumped nearly 20% in the first quarter of 2021, according to a report from TransUnion. This increase in credit card debt marks the highest quarterly growth rate since 2014. TransUnion attributes this surge to the rebounding …
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 …
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 …
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 …
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 …
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 …
