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If a Creditor Sues You For a Debt, Show Up or Risk an Arrest Warrant and Jail

It’s getting more attention these days, the concept that debtors prison is resurfacing. And while that’s not exactly true, you can’t be thrown into prison for debt. But there is more coverage about debtors that are being arrested and taken to jail. Mostly just for processing but some are sitting behind bars as they wait to be bailed out. The ... Read More »

    What Does Judgment Proof Mean?

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    Q: What does it mean to be judgement proof, and how do I know if I am? Thank you. – Betty Reply from Great question Betty! Being judgment proof essentially means that you don’t own any property that could be seized or attached by creditors. If you were sued, the creditor or collector might successfully get a judgment against ... Read More »

      Credit Card Debt Lawsuit – Consequences of Settlement Done Wrong

      The following guest post was contributed by Alex Vieco of New Era Debt Solutions. Alex is an experienced debt settlement company executive and his company is a member of the AACC that works hard to create fair and balanced debt settlement solutions for consumers with debt issues. If you would like to contribute a guest post, click here. Consumers have ... Read More »

        Chase Bank Dropping Debt Collection Lawsuits

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        in a yet unexplained move, JP Morgan Chase has been dropping lawsuits against consumers for past debts. The Wall Street Journal is reporting Chase “wouldn’t disclose the number of cases dismissed or the reasons for the move. State judges said the bank has dropped lawsuits targeting borrowers in California, Florida, Illinois, New Jersey and New York since April.” – Source ... Read More »

          I Am Considering a Debt Settlement Program But I’m Afraid of Getting Sued…What Should I Do?

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          The following guest post was contributed by Veritas Legal Plan. If you would like to contribute a guest post, click here. If you are reading this article chances are you are considering enrolling or are currently enrolled in a debt relief program. Some of you will choose the nonprofit CCC/Debt Management Programs and those that are unable to afford the ... Read More »

            Fair Debt Collection Practices Act Provides New Business Opportunities To Some Lawyers

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            The 1977 federal law to protect consumers from abusive debt collectors, better known as the Fair Debt Collection Practices Act (FDCPA) has molded a profitable business opportunity for some lawyers. Some lawyers are using the law as a tool for lawsuits which results in some cases avoiding litigation in favor for quick settlements. Colorado has become one of the nation’s ... Read More »

              Another Day, Another Class Action Suit Against For Profile Colleges

              A new batch of students, 39 to be exact, are filing a suit against Daymar Colleges Group. Allegedly they were mislead in enrollment and given “false claims about transferability of its credits, job placements, and the terms and availability of student loans.” They are apparently left lacking jobs and gaining debt. The students also claim they were “deceived” into buying ... Read More »

                Credit Card Lawsuits Become Bigger Reality for Consumers

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                In recent days stories out of New Jersey and California have both reveled that lawsuits by credit card companies are on the rise. The New Jersey story, stated there has been a 25% increase in case filed between 2007 and 2010. In California the courts in Santa Cruz Superior Court are dealing with historically high levels. The Mercury News story ... Read More »

                  Chase Bank Alleged to Not Be Able to Confirm Real Balances Owed While Shredding Documents

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                  Chase Bank has recently become the subject of a whistleblower complaint to the SEC by Linda Altamonte, a described mid-level employee of the Chase Bank Credit Card Litigation Department. Documentation on this case states: Chase Bank sold to third party debt buyers hundreds of millions of dollars worth of credit card accounts that were marked by Chase Bank as Judgment ... Read More »

                    Morgan Drexen Threatens Journalist and Free Speech. Demands All Mentions of Morgan Drexen be Removed.

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                    Yesterday this reporter and this media outlet received a letter from Morgan Drexen titled Morgan Drexen’s Demand to Cease and Desist Illegal Activity. Ultimately their demand is that this journalist and publication should “remove any and all reference to Morgan Drexen” as a condition “to Morgan Drexen agreeing not to pursue its damage claims against you.” The irony is that ... Read More »

                      Court Slams the Door on Ring of Debt Relief Providers Violating Telemarketing Sales Rules

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                      At the request of the Federal Trade Commission, a federal district court in Chicago has shut down an international robocall ring that allegedly conned consumers out of $995 each with false promises that it would reduce their credit card interest rates, but provided little or nothing in return. As part of its crackdown on frauds that seek to take advantage ... Read More »

                        I Spent The Morning in Court Watching Debtors Lose


                        This morning I spent time sitting in the local courthouse watching debtors go up against creditors in judgment cases. All the debtors lost and judgments were granted to the creditors. One judgment from 2000 was renewed for another term. The first case I watched was that of a guy with a copier purchase or lease. Since the copier was in ... Read More »

                          Students Fight Back Against For-Profit Colleges: Westwood College Sued For Fraud

                          We’ve covered this topic time and time again (see Know Your For-Profit College ABC’s: Assertive, Bold and Cheeky. How I Almost Became a For-Profit College Statistic and Government Finds Fraud and Deception in Marketing for For-Profit Colleges); for-profit colleges and their deceptive practices to get students to enroll and take out loans they cannot afford. However, on August 21, 2010 ... Read More »

                            Courts Slammed With Automated Debt-Collection Lawsuits

                            Collection Software

                            It is not unusual for me to hear from people in the debt relief world, “Oh the creditor won’t want to sue the consumer, it costs the creditor money.” I chuckle inside when I hear that. It’s so not true. While that might be logical, logic and creditors have never walked hand-in-hand. Out of New York comes a story about ... Read More »

                              Abusive Debt Collector Accused of Bankruptcy Fraud : When The Collector Becomes the Collected

                              Over the years Jack H. Boyajian, a seasoned debt collector, has faced accusations from authorities across the U.S. for “illegal methods to squeeze debtors”. This year a new accusation arose against Boyajian after he filed for bankruptcy in August of 2009, that he has defrauded creditors by concealing assets from the court. The Federal Government says he owes around $670,000 ... Read More »

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