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The Dark Side of Debt Settlement – MSNBC

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I’m probably going to get a stern email from the folks at MSNBC saying that I shared too much of one of their stories with you. But the information is so important, you need to read it. I urge you to click through and read the rest of the story. The basic strategy these firms employ is to instruct consumers ... Read More »

    Even Rich Kids Need to Learn How to Handle Money in a Bad Economy

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    In uncertain economic times, money troubles and worries are not limited to middle class incomes and lower, even the high flying richy rich families and parents are worried about how to pass on good messages and education about making ends meet. But the rich and the not-so-rich do have something in common this summer: worrying about their children’s financial future. ... Read More »

      Australians Sinking in Debt. Bankruptcy Urged As The Way Out.

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      In an excellent article from Australia I learned that the consumer debt crisis is causing people everyday in Queensland to petition for bankruptcy. The consumer debt crisis is certainly not limited to just one country and with the embrace of easy credit in roo land, consumers are feeling the debt pain also. The article, Cast Off the Debt Load had ... Read More »

        Judgments Tossed Out Against Debtors in New York. Law Firms and Debt Collectors Sued.

        New York Attorney General Andrew M. Cuomo today announced his office has sued 35 law firms and two debt collectors in New York State in order to throw out an estimated 100,000 default judgments improperly obtained against New York consumers. This is the latest action in Cuomo’s ongoing investigation into unlawful debt collection practices. According to the lawsuit filed yesterday ... Read More »

          The Truth About Credit Counseling and Debt Settlement. Interviewed by Mary Hunt.

          Today I appeared on the radio show of Mary Hunt and talked about the realities of modern credit counseling and debt settlement issues. You can listen online: If you can’t see the player above, click here. Get Out of Debt Guy – Twitter, G+, Facebook Read More »

            Loan Modification Boiler Room and Success Rate Exposed

            Responding to a just-released report that exposes the inner workings of a loan modification boiler room, California Attorney General Brown warned homeowners to avoid “shadowy and unscrupulous” loan modification consultants who use aggressive telemarketing tactics and charge thousands of dollars in upfront fees for foreclosure relief. The report, written by a court-appointed receiver, found that H.E. Servicing, Inc., a loan ... Read More »

              NASCAR Ponzi Scam Nabs Drivers

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              “Basically, the Ponzi scheme made investors believe that they could get them a guaranteed return on their investment up to 40.8 percent and they got them to invest their money and then used their money for their own personal gain. Our investigation is still in the process of collecting evidence and sorting through the different computers and everything else we ... Read More »

                Credit Card Arbitration Falls Out of Bed. Began with National Arbitration Forum Getting Sued.

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                Minnesota Attorney General Lori Swanson and the National Arbitration Forum—the country’s largest administrator of credit card and consumer collections arbitrations—have reached an agreement that the company would get out of the business of arbitrating credit card and other consumer collection disputes. “I am very pleased with the settlement. To consumers, the company said it was impartial, but behind the scenes, ... Read More »

                  Foreclosure Rescue and Mortgage Modification Help Just Bad Actors in New Clothes

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                  The New York Times has a great article out about the transformation of subprime mortgage brokers into new entities that promise to sell help for people to get mortgage help. Late last year, he and his team — ensconced in the same office where they used to broker mortgages — began working for a loan modification company. For fees reaching ... Read More »

                    Mortgage Lenders Start to Foreclose but Stop to Leave Owners On The Hook

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                    I just finished reading a really great article titled “Lenders Abandoning Foreclosed Properties” that was eye opening. Apparently lenders are beginning the foreclosure process, the home owner moves out, but before the foreclosure sale is finalized, the lenders are halting them. This seems to leave the home vacant and still the financial responsibility of the owner that thinks they lost ... Read More »

                      I Want You to Meet Who You Helped Today – Oscar

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                      It is important for you to meet who we helped today through this site. As I mention, all over the place, revenue from people clicking on ads and using the service of advertisers is used to help sponsor people in poverty through Kiva. Please visit or use the services of advertisers on the GetOutOfDebt.org site so we can help more ... Read More »

                        California Sues Individuals, Lawyers and Companies That Offered Loan Modification Services

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                        Attorney General Brown Sues 21 Individuals and 14 Companies Who Ripped Off Homeowners Desperate for Mortgage Relief As part of a massive federal-state crackdown on loan modification scams, Attorney General Edmund G. Brown Jr. at a press conference today announced the filing of legal action against 21 individuals and 14 companies who ripped off thousands of homeowners desperately seeking mortgage ... Read More »

                          New Jersey Goes After Loan Modification and Debt Settlement Companies. Suits Filed.

                          Continuing the State’s effort to combat mortgage-related fraud, New Jersey Attorney General Anne Milgram announced today the filing of two new lawsuits charging a total of 10 individual and corporate defendants with selling bogus loan modification services to distressed homeowners. Defendants in the two unrelated cases are charged with collecting unlawful “up-front” fees for loan modification services that either never ... Read More »

                            I Went Chapter 13 Bankruptcy Twelve Years Ago. How Do I Get Out? – Tammy

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                            “Dear Steve, FILED FOR CHAPTER13 IN NOV.97 AND HAVE PAID ALL PAYMENTS .BUT NOW WOULD LIKE TO GET OUT.CAN I GO BACK TO PAYING CREDITORS MYSELF Your Question I FILED FOR CHAPTER 13 IN NOV.97.WHAT HAPPENS IF I WANT TO DISMISS THE CASE? Tammy” Read More »

                              Facts Reveled in National Arbitration Forum Lawsuit Should Make You Want to Puke

                              The state of Minnesota recently filed a lawsuit against the National Arbitration Forum, the entity that claims to independently resolve consumer issues with creditors through binding arbitration. We’ve known for year this is a well controlled scheme in which the outcome is all but certain when a case goes to arbitration, the consumer will lose. In the lawsuit, download a ... Read More »

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