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Federal Debt Solutions and a Bunch of Others Banned by the FTC

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At the Federal Trade Commission’s request, a federal court has banned eight companies and their principals from selling credit repair and mortgage relief services, and ordered them to pay more than $7.5 million for deceiving consumers throughout the United States. In February 2009, the FTC charged seven of the companies and three officers with making false promises that they would ... Read More »

    New $100 Bill – Bling, Bling

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    The new $100 is coming soon to a drug dealer near you. It is supposed to make it tougher to counterfeit with all its new high tech features. It’s nice to see we are adding a bit of panache to our currency. Some color, some flare. A word of warning though, don’t stare at the first $100 you see while ... Read More »

      Concrete Lending, LLC. Very, Very Odd.

      I recently received an email from someone that identifies himself as Jeremy Pike, CEO of Concrete Lending, LLC in Naperville, IL. This could be a legitimate business but it sure has all the warning signs and red flags of something to avoid. Photo: Katie Blench Here is the email he sent. Thanks for your response to my personal loan ad. ... Read More »

        News Coverage of Foreclosure and Loan Modification Scams

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        A television news story out of New York warned consumers about mortgage consultant, loan modification, and foreclosure scams. I enjoyed the names the reporter, Melissa Holmes, gave the different variations of the scam. Phantom Help The Bailout The Bait & Switch Melissa did a good job of warning consumers about some of the foreclosure scams around today to avoid. You ... Read More »

          I Just Donated 10,000 Diapers in Honor of the Debt Settlement Industry

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          Every month I donate money to help others as the result of your support of this site by tolerating those annoying ads. The reality is that because of all those obnoxious ads, revenue is generated and I then use some of that revenue to help others. Take a look at all the people we’ve helped previously through Kiva, click here. ... Read More »

            Have a Chase Bank Card. You Might Be Getting Fired.

            Chase Bank has announced to shareholders that they will be chopping off 15% of card members. CEO Jamie Dimon announced. “In the future, we no longer will be offering credit cards to approximately 15% of the customers to whom we currently offer them. this is mostly because we deem them too risky in light of new regulations restricting our ability ... Read More »

              DEC Credit Corrections in California Makes The News, Not in a Good Way

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              Here’s the scene. Wide shot of Beverly Hills residents getting hammered in a bad economy, running up debt and losing retirement savings. Cut to next scene where Donna Chavez of DEC Credit Corrections collects $1,000 from this out of work, senior, psychiatrist, who was disabled after back surgery. Donna is alleged to have made promises to cut their $100K debt ... Read More »

                Legally Change Your Name But Not Your Social Security Number to Get Good Credit

                Alias Credit Repair

                Here is a new trick that is totally not worth the $3,999 that’s being charged, let alone $39, in my opinion. This company that is promoting you can have a good credit score by legally changing your name but keeping your old social security number. Now from the advertisement above it sounds miraculous. But how about this statement, “Only use ... Read More »

                  I Can’t Believe Alamo Bill Pay Really Said Their Debt Settlement Program Prevents the Client From Getting Sued by Creditors

                  This television news story catches Alamo Bill Pay and N2C Mortgage and Credit Counseling making so pretty outlandish claims about what they can do to help consumers in trouble. I was surprised to watch Blake Heggie of Alamo Bill Pay actually say that their debt settlement program would eliminate debt for 55% of debt, including fees, and prevent the consumer ... Read More »

                    Liberty Law Firm in California. Is It Brian Colombana, Esq. or American Financial Modifications?

                    I’m curious if anyone has used the loan modification services of a company that was called American Financial Modifications and they are now called Liberty Law. – Source Here is what I know so far. There are two sites for California companies that say they are Liberty Law Firm. See (source) and (source). The toll-free number for American ... Read More »

                      Debt Collection Company National Enterprise Systems Pays Up in Ohio for Consumer Violations Including Settlement Issues

                      Ohio Attorney General Richard Cordray has secured $207,500 in consumer restitution and a comparable amount in payment to the state’s Consumer Protection Enforcement Fund in a settlement with Solon-based National Enterprise Systems, Inc. (NES). In July, Cordray sued the collection agency for harassing consumers when attempting to collect on debt. As a result of the agreed consent judgment filed in ... Read More »

              , and Running ‘Deceptive’ Stimulus Debt Settlement Advertisements

                        The Consumer Standard Debt Settlement Advertisement

                        Yesterday I came across a link to which took me to the page below. What struck me about the advert was how it made it appear there was some new federal or state law that allowed people for a limited time to reduce their debt by 50%. The link at the bottom of the page “Reforms to Protect American ... Read More »

                          2008 Farm Bill Leads to More Garnish, of Social Security Checks That Is.

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                          A little-noticed law could soon result in smaller Social Security checks for hundreds of thousands of the elderly and disabled who owe the U.S. money from defaulted loans and other debts more than a decade old. Social Security benefits are off-limits to such creditors as credit-card issuers and banks. But the U.S. can collect debts to federal agencies by “offsetting,” ... Read More »

                            Your Chances of Getting Audited by the IRS are Increasing. Oh Joy!

                            IRS Audit X-Ray

                            Photo Credit: Punk Jr After having lived through one IRS audit in my lifetime I’m not all that enthusiastic about other having to live through a similar experience. I knew it was not going to be a pleasant experience when the auditor called me back 45 minutes late to a gray desk with a guy in a wheelchair sitting at ... Read More »

                              Did You Get Foreclosed on With a Second Mortgage or Home Equity Loan? I Knew This Was Going to Happen.

                              Foreclosure Sign

                              If you or someone you know got foreclosed on and had a second mortgage or home equity loan, watch out! People who were foreclosed on may think their debt problems are now behind them but second mortgage holders are not taking this lying down. In a move to attempt to recover money lost in the second mortgage banks held on ... Read More »

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