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Residential Credit Solutions Caused Consumers to Lose Homes Needlessly

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Yesterday the Consumer Financial Protection Bureau (CFPB) took action against Residential Credit Solutions, Inc. for blocking consumers’ attempts to save their homes from foreclosure. The mortgage servicer failed to honor modifications for loans transferred from other servicers, treated consumers as if they were in default when they weren’t, sent consumers escrow statements falsely claiming they were due a refund, and ... Read More »

    Renaissance Debt Solutions Hit with TCPA Suit

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    In yet another Telephone Consumer Protection Act (TCPA) lawsuit, which seem to be coming fast and furious, Renaissance Debt Solutions is the unlucky named party. On July 29, 2015, Paul Sapan filed suit against Renaissance Debt Solutions over nine telephone calls “wherein they tried to pitch debt modification services.” In this case the consumer received two calls in January, four ... Read More »

      Another Consumer Nukes Their Student Loans Through Bankruptcy

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      A reader contacted me to share his story of dealing with his unmanageable student loans through bankruptcy. Just recently I’ve written two articles that showed how people have fought the battle against their student loan companies and the bankruptcy court agreed to eliminate their debt. Read this and this. The cases of consumers making there case with the bankruptcy court ... Read More »

        Howard Feinmel, Paul Herman Both Disbarred Debt Attorneys

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        Readers of this site will recognize the name of Florida attorney Howard Feinmel. Over the years he’s appeared in a number of articles. You can click here to see them. According to a document from the Supreme Court of Florida from July 24, 2015 it appears Feinmel will be have his ability to practice law in Florida, revoked for five ... Read More »

          Ask The Expert: Why Can My Girlfriend Get Her Student Loans Fixed And I Can’t?

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          Question: My girlfriend and I both have lots of student loans. We Googled “student loan consolidation” and got some sketchy-looking websites. But we’re desperate, so we entered some info into some fields. They said she could get her loans consolidated but mine couldn’t be. Is this for real? — Bill in Iowa Howard Dvorkin CPA answers… After getting some information from ... Read More »

            Dvorkin On Debt: Your Credit Card Is Not Your Friend

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            Why do we use credit cards? It seems like such a basic question, but can you guess the answer? If you said, “Obviously for all the rewards, cash back, and airline miles you can rack up,” well…you’re wrong. “The single biggest reason Americans use credit cards is because they are easier and more convenient than paying with cash,” says a recent ... Read More »

              Paymap and LoanCare Nailed for Stupid Simple Reason

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              Yesterday the Consumer Financial Protection Bureau announced they took action against companies that sold consumers on an equity accelerator program. Typically these programs make payments every two weeks instead of once a month and that gives people one extra mortgage payment a year to reduce the balance owed faster. But the unbelievable part of this program delivery is contained in ... Read More »

                Telephone Consumer Protection Act Class Action Filed Against Debt Relief and Collection Companies

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                About a week ago I published an article about the dangers faced by debt relief companies, and others, for violations of the Telephone Consumer Protection Act (TCPA). Well just today comes a class action case filed against Freedom Financial Network, Freedom Debt Relief, and Consolidated Credit Counseling. The case was filed in New York state. The bigger question here is ... Read More »

                  Teacher Discharges Loads of Student Loans in Bankruptcy. ECMC Fights Back.

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                  Today I’m looking at another bankruptcy discharge case, see more here, where a bankruptcy judge felt it was appropriate to allow for a legal discharge of student loan debt. In this case the consumer represented herself in the action and has fought a valiant battle. Even though President Obama and the Department of Education have recognized a valid and reasonable ... Read More »

                    Student Financial Aid Websites Illegally Billed Consumers

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                    Today the Consumer Financial Protection Bureau filed a complaint and proposed consent order in federal court against Student Financial Aid Services, Inc. for illegal sales and billing practices. The Bureau alleges that the company, which until recently operated FAFSA.com, lured in consumers with misleading information about the total cost of its subscription financial services and hit them with undisclosed and ... Read More »

                      Who is SelectSLHelp.com Asks a Reader

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                      I received an email asking me if I knew anything about a new website SelectSLHelp.com. I have to admit, I’m scratching my head about the website. According to public domain records the domain name was created on July 1, 2015 but their testimonial page has testimonials that appear they have been around longer. One testimonial says, “SelectSLHelp.com was able to ... Read More »

                        Bankruptcy Court Wants to Discharge Spousal Consolidation Student Loans. Educational Credit Management Corporation Says, “Not So Fast.”

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                        I have to admit I am totally perplexed by the media and popular myths that believe student loans can’t be discharged in bankruptcy. Even a lot of bankruptcy attorneys believe this wildfire myth. Thanks to some amazing readers and tipsters I’ve just received a collection of cases where the consumer managed to have their student loans eliminated in bankruptcy, right ... Read More »

                          Discover Bank Screwed Over Student Loan Holders Says CFPB

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                          Today the Consumer Financial Protection Bureau (CFPB) took action against Discover Bank and its affiliates for illegal private student loan servicing practices. The CFPB found that Discover overstated the minimum amounts due on billing statements and denied consumers information they needed to obtain federal income tax benefits. The company also engaged in illegal debt collection tactics, including calling consumers early ... Read More »

                            FTC Smacks LifeLock for Violations of Previous Agreement

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                            The Federal Trade Commission today asserted that LifeLock violated a 2010 settlement with the agency and 35 state attorneys general by continuing to make deceptive claims about its identity theft protection services, and by failing to take steps required to protect its users’ data. In documents filed with the U.S. District Court for the District of Arizona, the FTC charged ... Read More »

                              CFPB Says Citibank Really Screwed Over Consumers With Debt Protection

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                              The Consumer Financial Protection Bureau (CFPB) has ordered Citibank, N.A. and its subsidiaries to provide an estimated $700 million in relief to eligible consumers harmed by illegal practices related to credit card add-on products and services. Roughly 7 million consumer accounts were affected by Citibank’s deceptive marketing, billing, and administration of debt protection and credit monitoring add-on products. A Citibank ... Read More »

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