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Your Credit is Riskiest if You Live in Mississippi or Texas.

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The TransUnion Credit Risk Index, a statistic developed to measure the changes in average consumer credit risk within various geographies, increased 1.98 percent from 124.79 in the fourth quarter of 2008 to 127.26 in the first quarter of 2009. On a year-over-year basis, the Credit Risk Index increased 7.10 percent (from 118.83 in the first quarter of 2008), the largest ... Read More »

    Statute of Limitations Talk at FTC. Tricks of Collecting on Out of SOL Debt Described.

    On December 4, 2009 the Federal Trade Commission held a roundtable discussion, actually it was more of a big U) about protecting the consumer in debt collection litigation and arbitration. As they said, “These events examine consumer protection issues in debt collection proceedings against consumers.” If you are the least bit sleepy I don’t recommend that you try to wade ... Read More »

      How to Stop Debt Collector From Calling You – Video

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      Here is a nice new video from the Federal Trade Commission to help explain what rights you have when facing debt collection. Read More »

        Credit Card Debt Trap Video – Must See!

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        Dateline NBC did a great show about the issues surrounding consumer debt in America with my friend Elizabeth Warren was in it. She is a brilliant lawyer, consumer debt author and an overall good person. It’s worth taking some time to watch all the videos below. The information presented is eyeopening and will be disturbing to many that don’t believe ... Read More »

          June Reyno Still At It In California

          I contacted June Reyno recently for an update and instead what I got was the information below. I’m posting it solely so you can make up your own mind on the case. I read through the attachments and quite frankly I think this is a smoke and mirrors exercise rather than an attempt to address the underlying issue, June failed ... Read More »

            Secret Credit Bureaus You Don’t Know About, But They Know About You

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            So let me tell you a story about secret credit bureaus that you don’t know about. Most of us have some knowledge about the three major credit bureaus that hold our credit report and credit score. The three biggies are Equifax, Experian and Transunion. But there are more places that hold information about you. Have you ever heard about Innovis? ... Read More »

              Nine Companies in NJ Slammed for Offering Mortgage Loan Modification Help

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              The Division of Consumer Affairs has mailed notices of violation to nine New Jersey-based companies that allegedly offered loan modification services to consumers without being licensed. The nine companies each were cited for violating the state’s Consumer Fraud Act for engaging in unconscionable commercial practices by allegedly offering to negotiate mortgage modifications without being licensed as a debt adjuster by ... Read More »

                What Would Life Be Like if Jesus Was a Debt Collector for Bank of America?

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                It does not matter what religion that you practice, seeking divine intervention is a common thread that binds us all. And that is good. Since debt does not discriminate among those of various religions we should not discriminate when we talk about a single unified higher power, in this case and for this discussion, God. There is no way that ... Read More »

                  Interesting Twist. Restaurants That Owe Loansharks Give Up Customers Credit Card Numbers to Crooks

                  This is yet another classic example of why I find it so ironic that people are afraid to use their credit cards online but think nothing of using it locally. It’s not the online world you need to worry about. Who would have expected this? A New Jersey loansharking operation that lent money to struggling restaurants in Essex, Morris and ... Read More »

                    My How Times Have NOT Changed Since 1758

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                    Recently I posted a page here on debtors prison. The History of Credit & Debt – Debtors’ Prison. And then I came across some quotes that made me think how much the reality of debt troubles has not changed over time. “The confinement … of any man in the sloth and darkness of a prison, is a loss to the ... Read More »

                      Frightening Calls From Fake Debt Collectors Threaten People With Jail for Payday Loans. It’s a Scam.

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                      Phantom phony debt collectors with Indian accents are calling people trying to scare them into paying debts that are not theirs. Some of the company names they use are American Credit Services, TAC Evolution, Allied Financial Services, CashNetUSA, Sonic Bank, Sonic CashNet, CashLand, and Cash America. If you know of others, please add them in the comments section below. The ... Read More »

                        Quick Cash Payday Lender Engaged in Deceptive Business Practices Says AZ AG

                        Arizona Attorney General Terry Goddard filed a lawsuit alleging deceptive business and debt litigation practices against national payday lender Quik Cash (QC Holdings, Inc., and subsidiary QC Financial Services, Inc.). The lawsuit seeks up to $5 million in restitution, asks the court to set aside hundreds of deceptively obtained court judgments against Arizona payday loan borrowers and seeks to stop ... Read More »

                          Is Bankruptcy Right For Me?

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                          Bankruptcy Basics Most people think of bankruptcy as a process in which you go to court and get your debts erased. It’s not that simple. In fact, there are two types of bankruptcy: the familiar liquidation bankruptcy, where your debts are wiped out (Chapter 7 bankruptcy) and “reorganization” bankruptcy, where you partially or fully repay your debts. The reorganization bankruptcy ... Read More »

                            Repossession: Why it happens, what you can do, and your rights before, during and after repossession

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                            The following information guide you through dealing with a car lost through repossession. It is critical that you understand if your vehicle is repossessed the car will be sold at a dealer price at auction and you will be responsible for the difference you owed on the car plus repossession expenses minus the very low sales price. People are hit ... Read More »

                              Survey Finds Debt Equals Depression For Many: Women at risk to suffer with financial depression

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                              This is a previous study that I participated in but it is still relevant and important to understand the relationship between debt and depression. Nearly half of the people who have problems with debt are experiencing symptoms of depression, according to a survey by Myvesta, a nonprofit financial crisis center. The survey found that 49.3 percent of people with problem ... Read More »

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