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Anatomy of a Scam – How Easily You Can Get Suckered

scammer

Here is a great story that lays out how shady telemarketers can convince you to jump into any scam. In my world it is usually some B.S. debt relief effort. Today the most prevailing debt relief product some scammers are pushing is student loan assistance for federal loans. But it is a moving target. In the past the scam of ... Read More »

    Do I Have a Good Case for Eliminating My Private Student Loan Debt?

    courthouse 2

    Question: Dear Steve, I am interested in pursuing bankruptcy for my private student loans. While this is usually a futile battle, documentation from the research I have done will make my claim valid. I have $41000 in debt to ACS, and I have $111000 in debt to Navient (Sallie Mae). Only about $30,000 of that money ($152,000) was actually used ... Read More »

      Alleged Helping America Group Former Insider Speaks Out

      Secret

      Barby Menahem who states she is a former employee with Helping American Group, sent in the information below for publication under her name. This is third-party supplied content and not the work of the site. And before anyone decides they want to go after the site for this content, you might want to read the site terms and the section ... Read More »

        Orange County Mortgage Modification Telemarketers Arrested

        Dead man walking - Sad prisoner with handcuffs in prison with orange clothes

        Seven Orange County residents were arrested Tuesday morning and face federal fraud charges in connection with a boiler-room mortgage loan scheme that required homeowners to pay thousands in upfront fees. A federal grand jury in Connecticut returned an indictment on: • Aria Maleki, 33, Santa Ana; • Serj Geuttsoyan, aka Anthony Kirk, 33, Santa Ana; • Mehdi Moarefian, aka Michael ... Read More »

          CFPB Discloses Why People Complain About Debt Settlement and Credit Repair

          CFPB Consumer Complaints

          The CFPB took a look at complaints it has received and shared why most consumers seem to complain about debt settlement and credit repair services. The Consumer Financial Protection Bureau said: “Excessive fees for debt settlement and credit repair services: Of all complaints marked as other financial service, 60 percent of them were about problems consumers had when dealing with ... Read More »

            Before You Enrolled in College Did They Tell You Your Degree Sucks?

            warning

            In my ongoing thread over the concern colleges and universities have been enrolling students and not giving them the window sticker of what was really to be expected (see this, this, and this) comes this interesting information out today. While some students were induced to enroll in college and go deep into debt, there is growing concern that the messages ... Read More »

              FTC Makes Case Students Deceived in College Enrollment

              happy

              I’ve been rattling on about a trend I’m seeing in college enrollment deception and the ability for people to file a claim to discharge, in full, their federal student loans. See this article. I’ve advised haste to get claims in and what to do before the door closes on this current process. See this article. The basic issue is students ... Read More »

                Why is Berges Law Group Checking Client’s Criminal History for Credit Repair?

                Berges Law Group

                So the strangest thing just happened. A reader filled out this debt relief company review form on Helping America Group and attached a copy of their client agreement. The agreement included Breeze Financial Solutions, Helping America Group, and 321 Financial. But here is where it got a little odd. Over in this article the relationship between a number of these ... Read More »

                  Lawsuit Against College is a Bombshell of Deception

                  time bomb

                  Both for-profit and non-profit colleges and universities are going to come under much more scrutiny very quickly as more people awaken to the reality they were lied to and deceived by schools to get them to go deep in debt. Want to know more, see Millions of Federal Student Loans Lining Up to Be Eliminated and Borrowers Repaid. I’ve been ... Read More »

                    Horrible Debt Relief Marketing Letter Spoofs IRS

                    Deceptive Debt Relief Letter

                    A very kind reader sent in this letter to me. In my opinion it has to be one of the most deceptive looking debt relief marketing mailers I’ve seen in a while. The letter does not come from the Internal Revenue Service or the Department of the Treasury. It is a lead generation letter that is designed to get consumers ... Read More »

                      Former Morgan Drexen Exec & Owner Shares Lessons Learned

                      future

                      I owe a tremendous debt of gratitude to Rita Augusta, a former owner and executive with Morgan Drexen, the debt settlement company who went on to be shutdown by the Consumer Financial Protection Bureau. Rita not only was brave enough to share the valuable advice below about lessons learned for consumers, but she also assisted the CFPB in their case. ... Read More »

                        Door Prepares to Slam for Student Loan Forgiveness Due to Fraud

                        And this picture is in honor of your husband.

                        Back in October of 2014 I wrote a story titled Millions of Federal Student Loans Lining Up to Be Eliminated and Borrowers Repaid. At the time I wrote that article some people said I was crazy. After all, how could people actually have their federal student loans forgiven because they were defrauded. Well the simple answer is because it is ... Read More »

                          Lifesaving Flights Can Come With Life-Changing Bills

                          ambulance

                          Butte is an old mining town, tucked away in the southwest corner of Montana with a population of about 34,000. Locals enjoy many things you can’t find elsewhere — campgrounds a quick drive from downtown and gorgeous mountain ranges nearby. But in Butte, as in much of rural America, advanced medical care is absent. People in Butte who experience serious ... Read More »

                            Why Defaulting on Private Student Loans is Not as Crazy or Irresponsible as it Sounds

                            detective

                            Not long ago I answered a reader question and suggested they consider stopping payment on their cosigned private student loan in the face of no other better solution. You can see that reader Q&A here. In response to that post I received some feedback which is not unusual from people who don’t understand the complexity of the student loan crisis ... Read More »

                              University of Phoenix Pushes Back Against FTC Investigative Demand

                              ftc

                              Court documents filed today certainly leave the impression University of Phoenix is dragging their feet in complying with a Federal Trade Commission investigation. In July of 2015 the FTC issued Civil investigative Demand requests to the University of Phoenix, requiring them to “produce material relevant to the Commission’s investigation, including information and documents relating to complaints, marketing and recruiting, student ... Read More »

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