Home > Debt Articles (page 10)

Debt Articles

Will Mark Tetzlaff Be Our Student Loan Hero?

Businessman trying to solve a maze questions

Mark Tetzlaff is a law school student who might not have achieved his dream of being a licensed attorney but the guy surely deserves some props for championing the cause through the courts of being impossibly in debt with student loans and seeking a legal remedy. My last story on Tetzlaff, here, talked about how his request failed to have ... Read More »

    Bankruptcy Filers Target of Phone Scam

    Ouch comic speech bubble image with hi-res rendered artwork that could be used for any graphic design.

    Phone scammers are targeting bankruptcy filers in several states, using personal information from filings and posing as attorneys to get intended victims to immediately wire money to satisfy a debt. The National Association of Consumer Bankruptcy Attorneys issued a warning that “Under no circumstances would a bankruptcy attorney or staff member telephone a client and ask for a wire transfer ... Read More »

      What You Assume But Don’t Really Know About Payday Loans

      Market Research Business Percentage Research Marketing Strategy Concept

      By Robert DeYoung, Ronald J. Mann, Donald P. Morgan, and MichaelR. Strain Except for the ten to twelve million people who use them every year, just about everybody hates payday loans. Their detractors include many law professors, consumer advocates, members of the clergy, journalists, policymakers, and even the President! But is all the enmity justified? We show that many elements ... Read More »

        Another Debt Relief Mailer to Watch For

        scam copy

        An amazing reader, Jessica, sent in a new debt relief mailer through my I Buy Junk Mail program. These mailers promising all sorts of relief that try to appear as some sort of official notification are still going out to consumers. The mailers are problematic in my opinion because they state benefits without much information to fill people in about ... Read More »

          Despicable Debt Relief Mailer Spoofs IRS

          Screen Shot 2015-10-09 at 12.37.45 PM

          A kind reader just sent in the following mailer which seems problematic on two fronts. The first is the use of the consumer credit reporting data to send the mailer. Others are being sued over such actions. See this article. The second big problem is the letter appears to want to spoof an official government letter to look like it ... Read More »

            Morgan Drexen Take Over Attorneys Held in Contempt by Court

            Where does it hurt nurse question

            What began in 2013 as an issue between the Consumer Financial Protection Bureau (CFPB) and the debt settlement company Morgan Drexen has now turned into a widening action that has resulted in several attorneys being found to be in contempt of court and facing a $10,000 per day fine if they don’t return client money. Sooner rather than later. On ... Read More »

              Orion Processing Says CFPB was Wrong to Seize Business

              Businessman trying to solve a maze questions

              Debt relief company Orion Processing has filed court documents alleging the Consumer Financial Protection bureau had no authority to seize their business and shutdown Orion and effectively, World Law. For the background on this story, click here. Orion Processing, Derin Scott, and David Klein say, “Sometime before August 20, 2015, Counter-Defendant decided to bring this action under seal in this ... Read More »

                TransUnion Releases Yet Another Credit Scoring Number – CreditVision

                sabatoging_credit_score

                TransUnion (NYSE: TRU) released today CreditVision®, the first credit score in market to combine both trended credit bureau data and alternative data sources — creating a more precise picture of consumer risk and their ability to manage financial commitments. CreditVision Link allows lenders to score up to approximately 95% of the U.S. adult population. The combination of the data within ... Read More »

                  University of Phoenix Shot Down by Department of Defense

                  The Department of Defense is telling the University of Phoenix they suck and get the hell off our bases. According to the Wall Street Journal the University of Phoenix will no longer be eligible for DoD tuition assistance as well. “Sen. Durbin said that he will be calling on the Department of Education and the Department of Veterans Affairs to ... Read More »

                    Nationwide Debt Direct Hit With Marking Suit

                    Screen Shot 2015-10-09 at 10.36.54 AM

                    Nationwide Debt Direct recently had a state lawsuit moved to federal court and it’s interesting because it’s yet another example of a suit brought over marketing. This case was filed by Brian Garvine (brian@garvinelaw.com) and Robert Parker (rparker@lawLH.com), both Ohio attorneys. The suit alleges Nationwide Debt Direct “unlawfully obtained Plaintiffs consumer reports and used them illegally to obtain information for ... Read More »

                      Why There is Nothing Inherently Wrong with Debt Settlement

                      Inspirational motivational quote. If you see fraud and do not say fraud you are a fraud. Simple trendy design.

                      A recent article out of India about a business that entered a debt settlement agreement reminded me that I’ve wanted to write this article for some time. Over the past five or so years, debt settlement has developed a nasty reputation as a scam. Unfortunately it is the debt relief bad apples that the industry did not try to stop ... Read More »

                        Dump of Debt Relief Offers Raises More Concerns Than Answers

                        Important Notice

                        As part of my I Buy Junk Mail program, Eve sent in a number of recent debt relief mailers that landed in her mail box. Imagine how the average person would be able to decipher the claims made or even begin to understand what company would be able to offer the debt service or solution. As you can see in ... Read More »

                          Debt Relief Companies and Individuals – Banned

                          Shirtless young man outdoor doing silly face

                          The Federal Trade commission is reporting more actions against debt relief providers that allegedly misled consumers about their services. While this is about a debt settlement company, all consumers should walk away with the fact they have a responsibility to know who they are doing business with. Buying defective debt relief help is no more egregious than buying a defective ... Read More »

                            CFPB Concerned About Widespread Servicing Failures Reported by Student Loan Borrowers

                            student-loan-debt-680x430

                            CFPB and U.S. Departments of Education and Treasury Issue Framework for Servicing Reforms, Bureau Prioritizes Stamping Out Illegal Actions WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) released a report outlining widespread servicing failures reported by both federal and private student loan borrowers. Consumers describe companies using a wide range of sloppy, patchwork practices that can create obstacles ... Read More »

                              Millions of Federal Student Loans Lining Up to Be Eliminated and Borrowers Repaid

                              Screen Shot 2015-10-02 at 10.57.02 AM

                              As a consumer debt expert for decades I’ve developed a pretty good sense of reading the tea leaves of debt. Sometimes this means making some sense out of puzzle pieces well in advance of assembly. I’m getting that same strong sense that student loan debtors are on the verge of a bold new ability to discharge massive amounts of federal ... 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.