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Demand for Consumer Debt Rises Says TransUnion

photo © 2009 Adam Baker | more info (via: Wylio)I will boldly go on the record and say that while there have been some fundamental shifts towards minimalism as a result of the economic downturn, those trends will reverse themselves if consumer confidence increases and credit becomes easier to access. I’m not being sanguine here, just a realist. People are ... Read More »

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

    Ready to Collapse

    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 »

      Do You Like to Shop From Home. Reporter Wants to Talk to You.

      Ready to Collapse

      Charging from the sofa: when convenience turns to debt What could be easier than shopping from home? You’re relaxing with the TV, the hosts are chatting about items that look great, seem necessary, and appear to be unbeatable deals – but you better hurry because they have limited quantities! For some, the ability to call in an order from the ... Read More »

        Auto Payment Assistance, Variety Investment Corporation. What is It?

        A few hours ago someone came in to the site and posted a comment about autopaymentassistance.com so I thought I’d look into what the site was offering. The website says the program will “help you out” if you are ever able to make your payments. AutoPaymentCenter.com is owned by: Variety Investment Corporation Herbert Hamlet 214 NE Ponce De Leon Avenue ... Read More »

          Actor Timothy Busfield, “West Wing”, “Thirtysomething” Facing New Part in “Foreclosed”

          TB

          Actor Timothy Busfield, is said, by TMZ, to be facing some tough times making his mortgage payments. TMZ has obtained documents filed with the California Recorder’s Office — which show Busfield defaulted on the mortgage for his Malibu pad — and if he doesn’t reach an agreement with the bank soon, they plan on auctioning off the home in early ... Read More »

            The Rally in Raleigh November, 2010. Aftermath.

            Rally in Raleigh-3343

            This past weekend my first ever Rally in Raleigh was held in order to bring together members of the debt relief industry to try to engage in a conversation on how to make the debt relief industry a safer and better place for consumers. Alex Viecco from New Era Debt Solutions offering some feedback as everyone listens. The following people ... Read More »

              Do You Have a Burning Question for Debt Relief Providers? This is the Time to Ask It.

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              This coming Saturday (November 13, 2010) I am holding a meeting of debt relief professionals from all over the country. The meeting will be videotaped and made available online later. This is your best opportunity to get straight answers from the debt relief community to your questions or concerns. The purpose to to have a discussion about how the debt ... Read More »

                Government Loan Modification Money Not Being Used by Banks

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                by Paul Kiel, ProPublica When the Obama administration launched its flagship foreclosure prevention program in early 2009, it pledged to spend up to $50 billion helping struggling homeowners. But the government has so far only spent a tiny fraction of that. A recent Treasury Department report summarizing TARP spending put the total at $600 million through October. Although the Treasury ... Read More »

                  BestDebtSettlementProgram.net Makes Some Big Promises, But Are They True?

                  A tipster (send in your tips here) sent in a request for me to look at BestDebtSettlementProgram.net and look at the claims the site actually buys the debt of the consumer. The site claims to: We Buy Your Debts! Much Faster Results Than Most Debt Settlement Programs Pay Only 55 Cents for Every Dollar You Owe – Guaranteed! The site ... Read More »

                    Regulators Totally Missed Foreclosure Problems

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                    Marian Wang, ProPublica While they may be conducting their own investigations, federal prosecutors and national bank regulators for the most part aren’t the ones leading the investigation into the foreclosure mess. At least that’s the perception–one that’s reinforced when Elizabeth Warren, Obama’s head of consumer financial protection, says her money is on a 50-state investigation by the states’ attorneys general. ... Read More »

                      Report a Debt Relief Scam. New Online Database to Protect Consumers.

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                      I’m starting a new section of the website that will allow people to Report a Debt Relief Scam. The purpose is to allow consumers to report specific information about a debt relief scam. Once reported, I can investigate it further or, if requested, can report the information to regulators and law enforcement personnel to assist in their investigations. If you ... Read More »

                        Mortgage Modification Operator Gets Shut Down and Moves Across State Lines to Open

                        Peachtree Consultants Incorporated

                        Global Equity Solutions, a Florida mortgage modification company was recently shutdown by the State of Florida for performing illegal advanced fee loan modifications services. The problem is the company simply picked up stakes and took its tent across state lines to Kingland, Georgia and setup shop again. This time calling itself Peachtree Consultants Incorporated. Probably most disturbing is the statement ... Read More »

                          How to Ask for a Raise in a Difficult Economy

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                          Here is a video from Cambridge Credit Counseling on how to ask for a raise in a bad economy. It’s a topic I wish I had thought of. If you are considering that a raise is in order, remember that what your boss is looking for most is proof or evidence your skills or services have added more to the ... Read More »

                            Attorney Promising Foreclosure Relief Under Investigation

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                            Last weekend the New York Times ran an article about a lawyer, Peter Ticktin, in Florida that was placing second mortgages on homes we was able to save from foreclosure. Ticktin, of Ticktin Law Group in Deerfield Beach, FL is quoted as saying, “We thought, ‘Why don’t we use a bit of ingenuity to find an affordable way to represent ... Read More »

                              The Unforeseen Importance of Having a Boring Savings Account – Ask Steve Video

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                              This week I answer Brandon’s question about saving money even if you are barely able to make ends meet. When you are just making it from month-to-month and paying the minimum payments alone it seems like a strange time to need to think about saving money. Most people don’t and then guess what happens when an unexpected event happens? Yep ... Read More »

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