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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 …

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HomeAdvisor and Angi to Pay Up To $7.2 Million and Stop Deceptively Marketing its Leads for Home Improvement Projects

Another Half Assed Attempt to Fix Federal Student Loans With Bankruptcy

The Federal Trade Commission today issued a proposed order requiring Denver-based HomeAdvisor, Inc. – a company affiliated with Angi, formerly known as “Angie’s List” – to pay up to $7.2 million for using a wide range of deceptive and misleading tactics in selling home improvement project leads to service providers, including small businesses operating in the “gig” …

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FTC Order Requires LasikPlus to Pay for its Bait-and-Switch Eye Surgery Ads

Can you believe this?

The Federal Trade Commission today issued an order requiring Ohio-based LCA-Vision, doing business as LasikPlus and Joffe MediCenter, to pay $1.25 million for using deceptive bait-and-switch advertising to trick consumers into believing they could have their vision corrected for less than $300. In reality only 6.5 percent of consumers lured in for consultations were eligible …

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DOE wants to modernize the student loan program but mucks up the planning process

DOE wants to modernize the student loan program but mucks up the planning process

Like a repentant boozer who promises to give up drinking, the Department of Education pledged to modernize its neanderthal student loan program. Unfortunately, like a chronic drunk, DOE simply can’t clean up its act. DOE’s own Inspector General audited the Department’s modernization efforts and issued a report last week.  The audit concluded that DOE bungled its modernization …

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Sound Advice to Help Struggling Families Thrive Throughout a Recession

I Took Out a Credit Card to Make Money for Dental Work and My Plan Didn’t Work. They Are Asking for Income Verification and Suing Me.

Signs of an impending financial downturn can strike fear in struggling families. Determine to get ahead by using the prospect of tough times to motivate yourself to turn your finances around and create generational wealth. Here’s some advice from the Get Out of Debt Guy to help. Manage Your Stress Polls indicate that the stress …

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WealthPress Nailed for Deciving Consumers With Investment Advice

As a result of a Federal Trade Commission lawsuit, investment advice company WealthPress has agreed to a proposed court order that would require it to refund more than $1.2 million to consumers and pay a $500,000 civil penalty for deceiving consumers with outlandish and false claims about their services. The case marks the first time …

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Department of Ed Proposes Cutting Income-Driven Payments in Half

Today, the U.S. Department of Education (Department) proposed regulations to reduce the cost of federal student loan payments, especially for low and middle-income borrowers. The regulations fulfill the commitment President Biden laid out in August when he announced his Administration’s plan to provide student debt relief for approximately 40 million borrowers and make the student loan …

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Forster & Garbus Illegally Sued Borrowers on Behalf of Citibank and Discover, Among Others

Why Are Churches Taking Out Merchant Cash Advances? FTC Bans RAM Capital Funding.

The Consumer Financial Protection Bureau (CFPB) has reached a settlement in its lawsuit against law firm Forster & Garbus, LLP for illegal debt-collection practices. If approved by the court, the proposed settlement would prohibit Forster & Garbus from filing any new lawsuit against a consumer unless it has specific documents supporting the debt and certifies …

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Department of Education Cares So Much About Forgiving Your Student Loan Debt That They Will Start to Garnish Grandma Again

In response to the COVID pandemic, the Department of Education stopped garnishing the Social Security checks of elderly student-loan defaulters in March 2020. However, DOE will return to that practice soon–probably by midsummer 2023. In an article posted on MSN.com, Vance Cariaga estimated that garnishment of Social Security checks will cost senior student-loan defaulters, on average, about …

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Color Me Cynical. Department of Education Statement Out of Touch on Loan Forgiveness.

Can we be honest for a minute? The entire issue of forgiving student loans with a one-time approach is stupid. It does not address the systemic breakdown of the cost of higher education or the realities of the BS schools selling students into debt for the corporation’s benefit. If the Biden student loan forgiveness plan …

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