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Debt Articles

Virginia Woman Facing 30 Years Behind Bars for Foreclosure Rescue Business Clean Slate Financial Services

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Shanita Lacy, age 34, of Chesapeake, Virginia, pleaded guilty today in Norfolk federal court to conspiring to commit mail and wire fraud in connection with a scheme to fraudulently obtain home mortgages. Neil H. MacBride, United States Attorney for the Eastern District of Virginia, made the announcement after Lacy’s plea was accepted by United States Senior District Judge Henry Coke ... Read More »

    Dan Ariely and I Sit Down and Talk About the Behavioral Economics of Getting Out of Debt

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    Dan Ariely, a world recognized behavioral economist and I had an opportunity recently to sit down and talk about a number of issues and underlying unconscious choices that lead people in debt to make good or bad decisions in dealing with debt. Dan talks about the mistakes the financial services industry makes and the best approach to controlling spending to ... 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 »

        Mortgage and Credit Card Delinquency Rates Predicted to Decline.

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        TransUnion released its annual forecasts today on consumer credit, which indicate that national mortgage loan delinquencies (the ratio of borrowers 60 or more days past due) will drop nearly 20 percent by the end of 2011 to 4.98 percent from an expected 6.21 percent at the conclusion of 2010. The projected decrease in 60-day mortgage delinquencies, a statistic generally considered ... Read More »

          Is Wealth Without Risk by Saen Higgns a Scam I Should Investigate?

          Saen Higgins

          FYI: I was contacted by the attorneys for Saen Higgins and Wealth Without Risk. They felt this article gives the impression this site has a business relationship with Saen Higgins. Let me state clearly for the record, in case anyone was the least bit confused by this article, GetOutOfDebt.org is in no way associated with Saen Higgins, Wealth Without Rick, ... Read More »

            Reporter Looking for Consumer to Interview About Christmas Shopping

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            I received the request below. If you are interested, please contact Carla below. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? I’m a Producer working in Washington DC I’m working on a story about debt and retail sales. The story focuses on how people currently in debt still want to spend, especially at Christmas. I’m looking ... Read More »

              Bad Day for Celebrities and Debt – Octomom and Jermaine Jackson

              Despite all the promises to pay her rent on time, it is reported the landlord of Nadya Suleman is really fed up this time and plans to evit Octomom and her, soon. TMZ reports the landlord he just served Octo’s lawyer with a letter demanding she pay the full $450,000 balance plus interest by December 31 or get out of ... Read More »

                Total Scam – U.S. Debt Reform Administration, U.S. Consumer Debt Counsel

                U.S. Debt Reform Administration

                An awesome tipster (send in your tips here) just sent in this email they received recently announcing something called the U.S. Consumer Debt Counsel and U.S. Credit Reform Administration. Apparently the people behind this site have no idea which crap they just walked into by putting up this site and pretending to be a government agency. Even the email address ... Read More »

                  Illegal Internet Payday Loans From Government Employees Credit Center and Dollar Financial Hit Snag in WV

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                  West Virginia Attorney General Darrell McGraw launched another volley recently in his office’s campaign to stop usurious Internet payday loans in West Virginia, seeking $3.9 million in penalties from Government Employees Credit Center, Inc., (GECC) and the Dollar Financial Group for making and collecting illegal payday loans in contempt of a court order. Attorney General McGraw and his Consumer Protection ... Read More »

                    Indiana Closes Debtors’ Prison in Vanderburgh County

                    In 2009 a local Indiana county court was doing some very bizarre things when it came to debtors. Apparently the local court was threatening debtors with contempt if they did not make payment arrangements to pay judgments against them, even if they were exempt from paying. It is reported that the Indiana judge had this exchange with one consumer. The ... Read More »

                      The Five Stages of Debt – How to Get Out of Debt Video Series

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                      In this video I talk about the predictable stages of debt that everyone goes through. Once I point them out to you they will be obvious to you. You’ll recognize them in yourself and others struggling with debt. http://youtu.be/A-TUdTOhyUM Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Read More »

                        Free Government Grant Website Slammed Shut, as it Should Have Been.

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                        The Federal Trade Commission has reached settlements shutting down a website operation that allegedly deceptively touted free government grants for personal expenses or paying off debt, and then debited consumers’ bank accounts without their approval. The federal government does not provide grants to consumers for personal expenses or paying off debts. The settlements resolve FTC v. In Deep Services, Inc., ... Read More »

                          Unemployment Benefits Extension Not to Be Found. Bills Due. Collectors Calling. What Next?

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                          While many are worried about falling behind a bit on bills and the fear of a debt collector calling is a constant worry, now and in the coming months it is estimated that 4 Million American’s are going to lose their unemployment insurance benefits. Some say the unemployment benefits extension that Congress past previously that extended benefits for up to ... Read More »

                            Payday Lenders Prepare for Big Payday Loan Rush in December

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                            Payday lenders know what happens each December, they get busy. While there has been much written about the dangers of payday loans, there seems almost nothing that will break the trend of accelerating payday loan interest in December. Since 2004, December has proven to be a very popular month for payday loans, right behind late Spring. What is fascinating is ... Read More »

                              Does the Wave of Fair Debt Collection Practice Act (FDCPA) Suits Benefit Consumers or Lawyers?

                              A tipster (send in your tips here) forwarded to me an article about Thomas Lyons, Esq. in Minnesota who was disbarred in 2010 for filing suits under the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA). While there is a need for consumers to have recourse in bringing legal suits against creditors for bad acts, ... Read More »

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