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Bankruptcy Lawyers in Richmond, VA

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If you are one of the thousands of Richmond Virginia residents who are currently struggling with large debt loads and trying to avoid a bankruptcy filing, there are several important things you need to know. Call At Least 2 Bankruptcy Lawyers In Richmond VA It is understandable that you may be searching for a solution to your debt situation that ... Read More »

    Senators Angry About Freddie Mac Betting Against Homeowners

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    by Jesse Eisinger ProPublica Sen. Robert Menendez, D-N.J., had sharp words for Freddie Mac’s investment practices and conflicts of interest at a Senate Banking Committee hearing Thursday. The senator’s concerns came in the wake of a ProPublica and NPR report that Freddie, the giant taxpayer-owned mortgage company, had made concentrated investments in complex mortgage securities that benefited from the inability ... Read More »

      CFPB Gets an Earful of Good Suggestions About Student Loan Disclosures

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      Recently the Consumer Financial Protection Bureau (CFPB) requested feedback from consumers about student loan issues. Advanced results and feedback on the survey are now available. The focus of the CFPB effort is to make information more available to students and potential students so they can make the best and most informed decision possible before falling on the sword for student ... Read More »

        Mortgage Settlement With Banks Leaves Consumers Still Looking In the Abandoned Windows

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        by Cora Currier ProPublica The Obama administration is billing today’s $25 billion agreement between most states and five banks that engaged in flawed or deceptive practices as a big win for struggling homeowners. Most of the money in the settlement isn’t a penalty, or a fine levied on the banks. Instead, the biggest slice of the settlement will be money ... Read More »

          GetOutOfDebt.org Named Top Site for Dealing With Debt on MSN Money

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          I love surprises. Good surprises that is. And I just got one. A reader let me know the GetOutOfDebt.org website was just listed as the top site by Liz Weston for dealing with debt issues. Her article about The 102 Best Money Websites was directed at those that “Need information or help with a money matter? Chances are good you’ll ... Read More »

            Your Primary Language Impacts Your Ability to Save for the Future

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            In a paper by M. Keith Chen of Yale University School of Management and Cowles Foundation, a conclusion was drawn that the language you speak has an impact on your ability to save for the future. Languages differ widely in the ways they partition time. In this paper I test the hypothesis that languages which grammatically distinguish between present and ... Read More »

              Nice Move by Chicopee Savings Bank to Fund Financial Literacy Project. Hat Tip.

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              Cambridge Credit Counseling announced the release today of the agency’s latest edition of its Learn Now or Pay Later guide to financial literacy. The project was underwritten with grant funding provided by Chicopee Savings Bank’s Charitable Foundation, in recognition of the community education initiatives conducted by Cambridge throughout Western Massachusetts. According to Cambridge’s president and CEO, Christopher Viale, the LNPL ... Read More »

                Aging South Koreans Falling into More Debt Troubles Says Credit Counseling and Recovery Service

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                Photo Credit: Wilson Loo The growing trend of the elderly falling into more problem debt is not restricted to the United States alone. Credit Counseling and Recovery Service of South Korea is reporting that of the total number of debt workouts they assisted people with last year, 24 percent were fifty years old or older. Their examination of the workout ... Read More »

                  Attorney General’s Office sues four foreclosure rescue companies

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                  Indiana Attorney General Greg Zoeller will file four more lawsuits this week against mortgage rescue companies accused of scamming Indiana consumers out of thousands of dollars. These four lawsuits raise the total number of actions taken against foreclosure rescue companies to 95 since 2006. Strategic Alliance of California, National Financial Services of Texas, United Capital of Maryland and LA Strattan ... Read More »

                    Payment Protection Plans Horrible for Consumers. Banks Love Them.

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                    We’ve all seen them. Those offers to cover us if we are sick, laid off or injured and unable to make our credit card payments. Over the years, for every one person that has told me they have received some payment or benefit from the program, there have probably been 500 more that have not. The new Consumer Financial Protection ... Read More »

                      Citizens’ Debt Settlement Fund Pays to Settle Debts of Citizens in UAE

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                      President His Highness Sheikh Khalifa bin Zayed Al Nahyan of the United Arab Emirates has just announced a national $2,722,600,000 fund for low-income debtors to use to settle their debts with a number of UAE and Dubai lenders. This fund will allow people to be able to settle their debts rather than face prosecution and jail time as they have ... Read More »

                        SpringCoin Rolls Out Automated Debt Advice and Debt Relief Coach System

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                        A reader just sent in this recent press release to share with readers. At $35 a month, if this software lives up to it’s hype and promises it could radically change the debt relief landscape as we know it today. The key is going to be in the operation and how tightly it is integrated into MasterCard RPPS for debt ... Read More »

                          There are Good Debt Collectors and Then There Are Debt Collectors That Lie, Cheat, Steal, and Threaten

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                          A reader brought the following article to my attention, America’s Abusive Debt Collectors on the DailyBeast.com. It is an interesting look into some of the bad collection outfits by Gary Rivlin. Gary includes first-person accounts of some of the actions they were asked or required to do to keep their jobs as collectors. These bad acts included everything you wished ... Read More »

                            Credit Card Interest Rate Reduction Scam Nailed in Canada-U.S. Sting

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                            The Federal Trade Commission has reached a settlement with four of the defendants in an allegedly phony debt relief services operation that claimed that, for $995, it would dramatically reduce consumers’ credit card interest rates. Under the settlement, reached as part of the FTC’s continuing efforts against frauds that target financially strapped consumers, the defendants will be banned from robocalling ... Read More »

                              Federal Housing Finance Agency Just STICKING it to Homeowners

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                              by Cora Currier ProPublica, Last week, ProPublica and NPR raised questions about a risky investment strategy at Freddie Mac that would pay off if homeowners stayed trapped in expensive mortgages. It’s just the latest example of how government-owned Freddie Mac and Fannie Mae have frustrated many by not putting homeowners first. Fannie and Freddie are required to help homeowners while ... Read More »

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