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When You Make Student Loan Payments on an Income-Driven Plan, You Might be in for a Payment Shock

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Aug 17 2015 By Seth Frotman Earlier this year, we asked you to share your #StudentDebtStress story. More than 30,000 of you answered, telling us about payment processing problems, servicing transfer snags, customer service confusion, and obstacles for borrowers in alternative repayment plans. You can check out the comments that were posted. For borrowers who are experiencing financial distress and ... Read More »

    UK Bank Accounts Target of Huge Sure of Fraud

    Identity Theft Warning Sign A yellow sign with the words Identity Theft on a keyboard

    Apparently financial criminals in the UK have managed to double down on their focus of fraudulently accessing consumer bank acccounts. Experian is reporting consumer bank accounts saw the rate of fraudulent activity nearly double from Q1 2015 to Q2 2015. The key to these attacks is reported to be simple identity theft. Identity theft accounted for 69 percent of all ... Read More »

      Debt Relief Advocates and Debt Arbitrators Named Again in Ohio

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      I think debt relief companies often get the wrong impression about why I write articles about debt relief lawsuits. It’s not to call out the company named but to help other companies see what strategies are being used to challenge debt relief companies. In this suit the Plaintiff used an interesting approach and target the very method by which mailing ... Read More »

        What a Typical Debt Collector Payment Plan Looks Like

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        When a debt collector has contacted you about a past-due debt and you are unable to pay the entire amount, or settle the account for less than the balance in a lump sum payment, you may have another option — a payment plan. A payment plan is not available on every account, but for those accounts that are eligible, a ... Read More »

          What’s Missing from Hillary Clinton’s Student Loan Plan

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          Little by little, the mass of humanity that’s running for President of the United States is coming to realize something very important: Not only does the $1.2 trillion worth of higher education-related debt pose significant macroeconomic peril to the country, but solving this problem (or, at least, coming close) has the potential to rally widespread, enthusiastic support across the generational ... Read More »

            U-Fi Student Loan Debt Reduction Mailer Review

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            An amazing reader J sent in a new debt relief mailer through my I Buy Junk Mail program. This mailer is for a purported student loan debt reduction or consolidation from U-Fi a Nelnet partnership. The mailer says you can “Save with a Refinance Loan from U-Fi.” There are a couple of concerns I have with the mailer. While the ... Read More »

              David Fishman of Arbitronix and Debtbusters Thinks I’m an Idiot

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              So I just got the following email from someone who says they are David Fishman, the President of Paladin Resolution consisting of Arbitronix and Debtbusters. I’m happy to let people express a point or opinion so here is his letter to the editor, so to speak. “Mr. Rhode. I am a subscriber to your daily blurb on the debt settlement ... Read More »

                Can You Believe Hess Kennedy Debt Settlement Mess Still in the Works?

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                For those of us who have been involved in the debt relief industry, there are a couple of landmark events that created havoc for the industry and consumers. Take Ameridebt as an example. Or how about Allegro Law. But then again there were the Morgan Drexen and Legal Helpers Debt Resolution debacles. As an industry, if we are going to ... Read More »

                  Former Legal Helpers Employee Wonders About Colonial Law Group

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                  I received a tip from someone who claimed to be a former Legal Helpers Debt Resolution employee who pointed out something I should look at and raised an interesting observation. The person wondered if Legal Helpers Debt Resolution may have some relationship or link with Colonial law Group since, as they observed, the client agreements are nearly identical. What! There ... Read More »

                    Another Lawyer Loses License Thanks to Debt Relief Industry

                    oops

                    I can remember a time when Resolution Law Group and The Resolution Law Group were company names I heard frequently. Well today I heard it again. The Tampa Bay Times is reporting that attorney Ian Berger who was involved with Resolution Law Group, has lost his law license. He can try to get it back in five years. Berger says, ... Read More »

                      Brunner Test Needs to Die Say These Heroes in Student Loan Bankruptcy Discharge

                      Clapping Business People

                      On July 29, 2015 the National Consumer Law Center (NCLC) and National Association of Bankruptcy Attorneys (NACBA) jointly filed a court document arguing a position in support of discharging student loans through the bankruptcy laws. Much thanks to the readers and tipster who slipped me the document. The matter of dealing with overwhelming student loan debt through bankruptcy has been ... Read More »

                        People Willing to Lose a Limb or Listen to Nickelback to Eliminate Their Debt

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                        Prosper, the online debt consolidation loan lender, recently conducted a pool about how people are looking at or dealing with debt. The big fact that jumped out at me was that nearly 3 percent of respondents would be willing to cut off an arm or a leg to have their debt eliminated. Seriously? Here are the results of the Prosper ... Read More »

                          Is United Credit Consultants Trying to Scam Google to Hide Information?

                          no bullshit

                          I just learned that someone initiated a DMCA complaint with Google to have a United Credit Consultants article I wrote, hidden from readers by Google. See update at bottom of the article. The notice sent to Google reads: “Hello, Google has been notified, according to the terms of the Digital Millennium Copyright Act (DMCA), that some of your materials allegedly ... Read More »

                            Colonial Law Group Client Agreement Reviewed – My Readers Are Awesome

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                            Just a few hours ago I posted Colonial Law Group and My Enrollment Center Sent a Paralegal to Meet With Me and asked if anyone had any documents, please forward them. Well I now hold in my hand a consumer agreement for Colonial Law Group that appears to answer some questions. The only one that is unclear is what is ... Read More »

                              CFPB Calls Bullshit on NDG Enterprise and Offshore Payday Lenders

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                              The Consumer Financial Protection Bureau (CFPB) today announced the filing of a lawsuit in federal district court against the NDG Enterprise, a complex web of commonly controlled companies, for collecting money consumers did not owe. The CFPB alleges that the defendants illegally collected loan amounts and fees that were void or that consumers had no obligations to repay, and falsely ... Read More »

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