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Debt Settlement Marketers Still Selling Debt Leads

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Interesting little email from a tipster (send in your tips here). It comes from a debt settlement lead seller. Apparently this lead seller is not too worried about complying with the new FTC telemarketing sales rules and making sure their customers are compliant. They say, “Through a number of conversations I’ve had with both debt companies and attorneys, it looks ... Read More »

    Loan Modification Profile: Fed Up, Giving Up, and Moving On

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    by Karen Weise ProPublica, Today, 8:53 a.m. Download the audio. Listen to Wallace Farmer talk about the loan mod process. On a recent Friday morning, Wallace Farmer packed up and moved out of his Baltimore row house. After over a year of confusion and delays, JPMorgan Chase told Farmer that he made too much for a mortgage modification through the ... Read More »

      New Credit Card Rules Help Protect Consumers

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      Effective August 22, 2010 the following new rules now cover credit card transactions and use. Good news for consumers. In addition to the points below, as of now, credit card companies are prohibited from increasing rates within the first year an account is opened. Reasonable penalty fees Let’s say you are late making your minimum payment. Under the new rules: ... Read More »

        Government Mortgage Modification Programs Still Not Working

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        by Paul Kiel ProPublica, Today, 11:33 a.m. Each month, the Treasury Department releases new information about how homeowners in its mortgage modification program are faring. And each month, the numbers get bleaker. Take a look at our graphical rundown of the numbers, broken down by each bank or mortgage servicer participating in the program. Have you worked for a servicer ... Read More »

          Stewart Finance Victims Get Checks Back

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          Beginning today, a claims administrator working for the Federal Trade Commission will mail more than 16,000 checks to consumers who were victims of Stewart Finance Company. In September 2003, the FTC charged Stewart, seven related companies, and their principals with deceiving consumers, many of them elderly, by packing optional products such as accidental death and dismemberment insurance and membership in ... Read More »

            Auto Warranty Robocaller To Pay $2.3 Million, Sell Mercedes For Consumer Redress

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            One of the telemarketers who blasted U.S. consumers with millions of illegal auto “warranty” robocalls last year will pay approximately $2.3 million, give up his Mercedes, and be barred from telemarketing, under a settlement with the Federal Trade Commission that wraps up the agency’s case against the deceptive operation. In sum, the FTC is collecting nearly $3 million to reimburse ... Read More »

              Fishing for Suckers. Easy Money. How to Find People Willing to Part With Their Money.

              This little gem is for all the people that think scams, suckers, flimflams, and cons are something recently invented. They most certainly are not. Here is an interesting book from 1916 titled: From the preface: There is an almost universal desire in all of us to have ”lots of money.” The desire to get it easily and quickly has afforded ... Read More »

                Unbelievable Back To School Money Saving Tips

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                As most of us all know, our wallets have been tested the past few years to see just how far we can squeeze them. Some of you most likely trying for a completely 360 degree twist. Many of you are probably sweating in your sleep thinking about the money spent or money you need to spend on back to school ... 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 »

                    Real Housewives of DC – Guess Who Went Bankrupt

                    Real Housewives of Washington

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                      What Do You Know About Real Solutions Consumer Counsel? – D

                      Real Solutions Consumer Counsel

                      “Dear Steve, I am looking for a real solution- and this shows up in the mail. D” Click image for larger view. Dear D, Before this I had not heard of Real Solutions Consumer Counsel. Let me review the letter you sent in with your email. It appears that the data used to generate the letter may have come from ... Read More »

                        Boyfriend Cheats Me Out Of Money To Feed His Debt Habit

                        Photo Credit: crnewbedford

                        I’d like to follow up with my previous article, How Do You Value Your Quality of Life? Debt Solutions to Fix The Future In this article I showcased a friend of mine, Michael. I should point out that Michael was much more than a friend to me, we had been in a very serious relationship for a year and a ... Read More »

                          Offshore Debt Settlement, Morgan Drexen, Badges, Elizabeth Warren, Bed Intruder, CROA, and More – Podcast

                          Here is this weeks podcast where Damon Day and I talk about a number of debt industry issues including: Debt settlement companies settling up offshore enterprises to sell services back to U.S. residents. The odd statements made in the recent Morgan Drexen press release. You can watch video from the release here. What is the Financial & International Independent News ... Read More »

                            Elizabeth Warren, We Got Your Back. Wall Street Better Watch Out.

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                            For all the fans of Elizabeth Warren for the role as the director of the new Consumer Financial Protection Bureau. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Read More »

                              Case Concludes Bank Intentionally Cleared Checks and Debit Cards to Generate Largest Overdraft Revenue

                              Wells Fargo Before and After

                              A class action lawsuit (3:07-cv-05923-WHA) that was previously filed against Wells Fargo has come to a conclusion that the bank was intentionally clearing transactions in order to create the largest amount of overdraft revenue. In fact 40% of its overdraft revenue was generated from only 4% of its customers. This is a tactic that a banker shared with me over ... Read More »

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