Recent court documents present a very interesting transcript in the case brought by the Department of Justice against Turbo Solutions, Alex Miller Financial Services, Alex Miller Credit Repair, Alexander V. Miller You can find past posts on this case using this and this. Transcript from March 22, 2022 Found in Another Filing DEFENDANT MILLER: Yes. … Read more
Wide-ranging Operation Promises Easy Credit Fixes, But Provides Worthless Services and Pitches Pyramid Scheme Where Few, If Any, Make Money The Federal Trade Commission has taken action against Financial Education Services and its owners, Parimal Naik, Michael Toloff, Christopher Toloff and Gerald Thompson, as well as a number of related companies, for scamming consumers out … Read more
On May 23, 2022, Financial Education Services, United Wealth Services, VR-Tech, VR-Tech Mgt, CM Rent, Youth Financial Literacy Foundation, Parimal Naik, Michael Toloff, Christopher Toloff, and Gerald Thompson and into an FTC lawsuit and takeover. This is yet another credit repair operation that has run into regulators. Ironically, I wrote about this operation in 2012. … Read more
Company Illegally Charged Consumers for Credit Advice, Filed False ID Theft Reports and Pitched Them on Fake Business Opportunity At the request of the Federal Trade Commission, a federal court has temporarily halted a bogus credit repair scheme known as The Credit Game for promoting a series of lies and deceptions. The FTC alleged the … Read more
The Federal Trade Commission obtained an order halting a credit repair scheme that allegedly bilked consumers out of millions of dollars by falsely claiming they will remove negative information from credit reports, while also filing fake identity theft reports to explain negative items on customers’ credit reports. At the request of the FTC and the … Read more
[The opinions expressed in this guest post are those of the author. They do not purport to reflect the opinions or views of anyone else. If you would like to submit a guest post as well, click here.] For those who don’t feel like Daniel Rosen (Credit Repair Cloud) has done anything wrong and is … Read more
The Consumer Financial Protection Bureau (CFPB) today filed a lawsuit in federal district court accusing a California-based software company and its owner of providing assistance to illegal credit-repair businesses. The CFPB alleges that Credit Repair Cloud and CEO Daniel Rosen have violated the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act of 2010 … Read more
When you start to use credit cards and take out loans, you build a credit score that demonstrates your creditworthiness. Does that number stay static a day, a week, a month? In truth, it’s changing all the time. Most of your accounts probably report information to the credit bureaus every 30 to 45 days. One … Read more
Question: Dear Steve, My financial standing was destroyed by Lexington Law Firm beginning in August of 2017. They were to repair my credit history by dealing with some student loans and Bill Me Later(Pay Pal Credit). I approved the trial price of $14.99 using my debit card and personal account with US BANK. I also … Read more
The Federal Trade Commission is sending refunds totaling nearly $150,000 to individuals who lost money to a company called Grand Teton Professionals, which operated a bogus credit-repair scheme. According to the FTC, Grand Teton Professionals targeted consumers with false promises of substantially improving their credit scores by claiming to remove all negative items and “hard” … Read more
A great reader told me about a company named Prestige Business Financial Services that was promising tradelines to boost credit score and lend up to $400,000 in business funding. What caught my attention was that the services Prestige Business Financial Services promotes seem to all be on separate domain names, and the sales representative uses … Read more
I’m not sure why the following lawsuit popped up on my radar this morning. Still, it’s a good example of a consumer running into a credit reporting roadblock, trying to resolve it, but having to turn to the courts to attempt a fix. According to the complaint, the consumer, Diaz, has been struggling with Equifax … Read more
In 2019 the Consumer Finacial Protection Bureau (CFPB) sued the popular credit repair company, Lexington Law. I don’t want to rehash the complaint again but you can read all the details on the original complaint filed by the CFPB, here. Let’s see if I can summarize it in the fewest number of words: CFPB claims … Read more
United States Attorney Robert J. Higdon, Jr. announced the unsealing of a Second Superseding Indictment charging the following: Michael Anthony Griffin, Sr. (“MGriffin”) 52, of Knightdale, North Carolina; Regina Griffin (MGriffin’s sister), 48, of Raleigh, North Carolina; Angela Griffin (MGriffin’s wife), 52, of Knightdale, North Carolina; Creshun Alexandria Griffin (MGriffin’s daughter), 26, of Knightdale, North … Read more
Not all that long ago the National Association of Credit Service Organizations (NACSO) sued the Consumer Financial Protection Bureau (CFPB) to have them back off the industry. You can see past posts, here. NACSO had solicited funds from members to help pay for a suit filed by Greenspoon Marder against the CFPB. You can read … Read more