Home > Debt Articles

Debt Articles

Your Mortgage Servicer Might Just Really Suck Says the CFPB. But Some Are Trying.

bad decisions

Today the Consumer Financial Protection Bureau (CFPB) released a special edition supervision report focused specifically on mortgage servicers. The report found that some mortgage servicers continue to use failed technology that has already harmed consumers, putting the company in violation of the CFPB’s new servicing rules. In its examinations covering numerous mortgage servicers since the new CFPB rules took effect ... Read More »

Private Loans For Unaccredited School Not Student Debt in Bankruptcy

law books

By Los Angeles Bankruptcy Attorney Christine Kingston I was just talking with a friend of mine the other day, Damon Day; and he was mentioning that he is seeing more and more folks all across the country, who have attended these unaccredited schools and carrying an enormous amount of student debt. I mentioned to him that I’ve already been in ... Read More »

FTC Halts California Based Mortgage Relief Scam

ftc

The Federal Trade Commission has charged the operators of a mortgage relief scam with bilking millions of dollars from homeowners by falsely telling them they could join a so-called “mass joinder” lawsuit that would save them from foreclosure and provide additional financial awards. “Preying on homeowners who already are financially distressed and struggling to pay their mortgages is appalling,” said ... Read More »

Bill Introduced to Allow Private Student Loans to be Consolidated Into Federal Loan

law books

We will have to see where this proposal ends up but yesterday a bill was introduced in Congress that would all certain private student loans to be consolidated into a Federal Direct Consolidation Loan. That’s a big deal for people who are struggling with the lack of payment plans on private student loans. According to the proposed bill, the borrower ... Read More »

Brookstone Law Seizure Report Reads Like a Bad Movie Script

Old movie camera with film clapperboard. Preparations for shooting movie

The Federal Trade Commission (FTC) recently went after Brookstone Law Group. For more on that, click here. This mess has been brewing for years and it has managed to suck in some people I think are friendly who I’ve communicated with for a long time. But the report by the court-appointed receiver reads like a movie script. What you are ... Read More »

Republican Congress Doesn’t Give a Damn About Student Loan Issues

Screen Shot 2016-06-15 at 3.30.46 PM

If anyone thinks changing Washington D.C. to more Republican control is going to provide more relief for people with student loan problems. History paints a different picture. Since 2008 there has been an extremely lackluster effort by Republicans on student loans. Check the graphic below from the Capitol Words project. Read More »

How Many of the Sallie Mae and Navient Student Loans Are Actually Eligible for Bankruptcy Discharge? Loads!

surprise

I was recently working on an article about private student loans that sure look like they should have been discharged in the students bankruptcy filing. It looks as if the loans were issued for a course of study that is not certified for Title IV funding. I know that sounds like a bit of a technical statement but keep reading. ... Read More »

Eary Tests to Prove (Justify) Undue Hardship

get out of debt

SEVERAL TESTS CREATED – YET NOT A SINGLE STANDARD If you are one who is following this blog I want to thank you. I first began blogging nearly a year ago now. My very first attempt at publishing here was on May 19th, 2015. The subject of that first informative posting was about Undue Hardship Tests. The title I used ... Read More »

More Debt Relief Entities Sued by FTC for Debt Elimination Robocalls

tax_scams

The Federal Trade Commission and the Office of the Florida Attorney General have charged a web of related defendants based in Orlando with bombarding consumers with illegal robocalls in an attempt to sell them bogus credit-card interest rate reduction and debt relief services. In all, the complaint alleges the defendants’ robocall scheme bilked consumers out of more than $15.6 million ... Read More »

A Bunch of These Navient Private Student Loans May Really be Eligible for Bankruptcy Discharge Today

Closeup portrait of handsome young man looking shocked surprised in disbelief with hands on face looking at you camera isolated on background. Positive human emotions facial expressions

Bankruptcy attorney Chad Van Horn has recently filed suit against Navient for attempting to purse student loans after a consumer bankruptcy. The issue stems from the fact the loans appear to not be protected from bankruptcy, yet Navient continued to attempt to collect on them. If the loans were not protected in bankruptcy, they would have been fully discharged and ... Read More »

My Theory of Why My $130K of Federal Student Loans Was Discharged in Bankruptcy

stolen idea

THE DISCHARGE OF $130,000 WAS SETTLED WITHOUT A TRIAL! HERE IS MY THEORY OF WHY! AT A MOTION HEARING, THE DEPT. OF ED. MOVED TO STRIKE MY COMPLAINT. BY COUNTERING THAT MOTION, THE DEPT. OF ED. SAW I WAS NOT GOING TO FOLD! THE JUDGE GAVE THE DEPT. OF ED. JUST THREE DAYS TO ANSWER MY COMPLAINT. WHAT THE DEPT. ... Read More »

Settled Debt May No Longer Be Reported on Credit Reports if Bill Passes

credit_report_errors

Inaccurate and antiquated adverse items on credit reports can be extremely detrimental. They can adversely influence a consumer’s credit score, elevate interest rates and even lead them to incur a lot of money in payments they have to make. Yet most credit reporting system players emphasize that the processes, which handle contentious items in the consumer files of the 3-major ... Read More »

Federal Debt Assistance Association – This is Going to Get Real, Fast

Alleged FDAA Mailer

I don’t know the people behind the Federal Debt Assistance Association but it sure seems like they missed the entire debt relief debacle as companies were nabbed for impersonating the federal government in debt relief claims. I was passed a mailer the company recently and allegedly sent out from their “regulatory” office at 5234 Glen Arm Road, Glen Arm, Maryland. ... Read More »

Things Get Real on Student Loan Elimination by Borrower Defense

Dog using a laptop and surfing the web

The Department of Education has released a massive proposed rule that aims at finalizing a process to allow people who have been defrauded by their schools, a process to eliminate their federal student loans. It also would create a process for student loan borrowers to also seek to get back loan payments they made to schools found to have misled ... Read More »

Brookstone Law and Cast of Players Hit Hard by FTC for Shenanigans

Brookstone Law

I wish I was above saying “I told you so” but I’ve been working on this story since 2011 and put in a lot of effort on this. So this time I’m going to have to say “I told you so.” You can see my past stories on the group, here. The Federal Trade Commission (FTC) has gone after Brookstone ... Read More »

Get My FREE Get Out of Debt Guy Newsletter

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt. You can unsubscribe at any time with just one click. After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

I promise to keep your email safe and secure.