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Mortgage Loan Modification Companies Labeled Opportunists

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Here is an excerpt from a great piece by Lauren Tara LaCapra for TheStreet.com. The piece is titled Opportunists Pounce Amid Mortgage Mess. Call them savvy entrepreneurs or shady wheelers-and-dealers, but small mortgage-workout shops have sprouted up across the country like wildfire, promising to deliver results in a speedy fashion. They often have names that evoke a mix of strength, ... Read More »

    Debt Collector Asks Woman How Her Dead Daughters Must Feel Knowing She’s Not Paying Her Student Loan

    In a case against Premiere Credit of North America by Holly Owens, she alleges that she was abused by a debt collector and in an attempt to collect a debt. If what is alleged in the complaint is true, the debt collector stepped waaaaay over the line. Here is what the complaint says. I’ve bolded the most disturbing part for ... Read More »

      Mortgage Loan Modification Problems. Delayed then Denied, Often Mistakenly

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      Loan Mod Profiles: Delayed then Denied, Often Mistakenly by Karen Weise ProPublica, Today, 10:09 a.m. Download the audio. Listen to David Moe talk about trying to get a loan mod. Retired pastor David Moe describes the process of trying to get a loan modification — only to be denied after more than a year — as nothing short of “The ... Read More »

        Attorney Assisted Debt Resolution Program Said to Be Different Than Debt Settlement. How Can That Be?

        In the video below put out by Morgan Drexen today and distributed with their press release (source), Walter Ledda, CEO says attorney assisted debt resolution is an alternative to debt settlement. Is it somehow magically different? [flashvideo file=/wp-content/uploads/MorganDrexen.flv /] At 0:37 and you will hear Ledda make comments to advise consumers to avoid bankruptcy. “Bankruptcy is the last resort for ... Read More »

          GetOutOfDebt.org Featured in MSNBC Red Tape Chronicles

          Red Tape Chronicles

          The other day I was interviewed by Bob Sullivan from MSNBC who writes a column called The Red Tape Chronicles. The article was about the debt settlement industry and appeared today. Here is the link to the article, “Will cut-your-debt ads stampede to Web?“, and as you will see I was my normal reserved self, not. Get Out of Debt ... Read More »

            Thank you For The GetOutOfDebt.org Site And Your Help. – Lisa

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            I received the following email from one of our site follower friends. Thank you Lisa for the update and sharing your opinions, experience and inisght. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? With the help and encouragement of your site, we have filed Chapter 7 and been discharged, thanks so much!! I just wanted to ... Read More »

              Even Though Cosigner Wants to Payoff Mortgage, Chase Bank Still Foreclosing

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              In an odd twist, a Stratford, Connecticut man’s mother is being foreclosed on by Chase Bank even though he is wiling to pay the mortgage off. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Read More »

                Chapter 7 Bankruptcy Filings Up 25 Percent

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                Bankruptcy filings overall rose 20 percent in the 12-month period ending June 30, 2010, according to statistics released today by the Administrative Office of the U.S. Courts. A total of 1,572,597 bankruptcy cases were filed in federal courts in that period, compared to 1,306,315 bankruptcy cases filed in the 12-month period ending June 30, 2009. This is the highest number ... Read More »

                  Real Talk Network Linked to Ponzi Schemer. Consumer Loses Yet Again.

                  The Real Talk Network, a Colorado based debt relief coaching group that was shut down earlier this year by the Attorney General in Colorado, has been linked to another money losing enterprise. harold Brubaker at Philly.com is reporting that Jim Melvin, a consumer that fell for the Real Talk Network pitch of paying $3,000 for their debt coaching hoax, was ... Read More »

                    California SB 1275 Attempts to Block Foreclosure for Homeowners Able for Modifications

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                    Earlier this year the California Senate passed a bill that allows people that would be eligible for a mortgage modification from their lender from being foreclosed on. The bill would be in effect until January 1, 2013 and the intention is to help people in their homes. The Los Angeles Times has come out in support of the bill. One ... Read More »

                      Citibank to Offer Card Consumers Can Use to Set Sending Limits

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                      Citi and MasterCard Worldwide today announced that Citi will implement the first-ever consumer application in the U.S. of MasterCard inControl – an innovative service that gives cardholders the ability to set spending controls and receive real-time information about their accounts. “We believe that MasterCard inControl will help enhance our cardholders’ experience, through increased transparency, greater spending confidence, and more secure ... Read More »

                        Off to College: How to Use Credit Cards and Not Get in Over Your Head

                        Total Interest Payment Made When Paying Only the Minimum Payment

                        Let’s face it: when it comes to getting credit, most students have it easy these days. Most college students do get credit cards — and plenty of them if they want. According to a recent study for the Education Resources Institute and the Institute for Higher Education Policy, many college students have credit cards and some of them got their ... Read More »

                          Bill and Debt’s Excellent Adventure: In Coins We Trust

                          Gold Coin Flyer

                          Are you someone concerned with debt? How about our nation’s debt? Are you eager to see the government spend less? Well, you may be able to help the cause at home for less government spending if you’re a fan of having jingling pockets of $1 coins. For the past 10 years the government has been trying to get $1 coins ... Read More »

                            “The Collector’s Pledge” Marks a Positive Turn in the Debt Collection Industry

                            Martin Sher of AmSher Receivables Management in Birmingham, Alabama has recently made a huge step in the debt collection industry with “The Collector’s Pledge”. Sher, with over 30 years experience in the credit and collection industry was named as the president of ACA International (the Association of Credit and Collection Professionals) for 2010-2011. Sher co-owns AmSher Receivables with his brother, ... Read More »

                              Credit Card Debt Settlement Act Of 2010 – No Such Thing

                              A press release crossed my desk about “Credit Card Debt Settlement Act Of 2010” and I had to do a double take. Wha-wha-what! The release seems to create a new advertising opportunity for less than straightforward debt settlement companies to start sending out official looking government mailers promoting the Credit Card Debt Settlement Act Of 2010, an act which does ... Read More »

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