Latest Posts
Home > Debt Articles (page 215)

Debt Articles

Credit Card Interest Rate Reduction Scam Closed

Ready to Collapse

At the request of the Federal Trade Commission, a U.S. district court judge has imposed a telemarketing ban on a Canadian operation that targeted U.S. consumers with false claims that it could reduce their credit card interest rates. The court entered a permanent injunction that puts the defendants out of the telemarketing business and also bars them from misrepresenting that ... Read More »

    Debt Settlement Company Success Rate Made Public – Sucks

    Ready to Collapse

    Nationwide Asset Services, a company under investigation by the New York Attorney General, has disclosed that while Nationwide Asset Services promised consumers debt reductions of between 25 to 45 percent, in fact only 64 customers out of 1,981 actually completed the debt settlement plan. This means that 97% of people that enrolled in the debt settlement program not only did ... Read More »

      Buying a Snuggie or Something From an Infomercial Can Get Your Credit Card Cancelled.

      Ready to Collapse

      With banks hunting with a vengeance for any available reason to raise interest rates or snap back a credit card from a customer that might cause them a loss, the data mining of what and where you buy is becoming a critical key to watch. The behavior of purchasers can indicate that a cardholder may be headed for a default. ... Read More »

        Should We Stop Using Credit Cards Altogether in America?

        Ready to Collapse

        An interesting story on Marketplace about the possibility of living a life without the use of credit cards in the America. Listen to story online. Get Out of Debt Guy – Twitter, G+, Facebook Read More »

          I Want You to Meet Who You Helped Today – Clorinda

          349415

          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 »

            Credit Counseling, Credit Repair, Debt Settlement and Other Scams Are Target of FTC Sweep

            Ready to Collapse

            The Federal Trade Commission recently annound operation Short Change, an effort to help curb abuses of consumers by groups claiming to offer help. Here is a summary of the companies targeted under Operation Short Change. California Mezey & Associates, Inc., Campos Chartered Law Firm, The Consumer Protection Law Center dba Consumer Law Center, LLC Desist and Refrain Order issued for ... Read More »

              Why I’m Betting the High Personal Savings Rate Will Fall

              personalsavingsrate

              Currently some people are all excited about the personal savings rate in America. They feel it shows that people are becoming more frugal and prudent in the way they handle their money. The last reported personal savings rate as I write this was 6.9% in May, 2009. And that’s great, but it is not the mark of a fundamental way ... Read More »

                California Attorney General Sues Foreclosure Consultant and Attorney Over Avoid Foreclosure Scheme

                Attorney General Edmund G. Brown Jr. today sued a foreclosure consultant and an attorney — Paul Noe Jr. and Mitchell Roth – who conned 2,000 desperate homeowners into paying exorbitant fees for “phony lawsuits” to forestall foreclosure proceedings. These lawsuits were filed and abandoned, even though homeowners were charged $1,800 in upfront fees, at least $1,200 per month and contingency ... Read More »

                  American Credit Experts and Legal Credit Repair Center Settles With FTC Over Credit Repair Infractions

                  Ready to Collapse

                  A federal court has ordered a credit repair operation and its principals to stop making false claims and requiring advance payment for credit repair services. See the court order here. The agreed-upon court orders are a result of a settlement between the Federal Trade Commission and the “credit repair” defendants. The Commission sued the defendants in October 2008 as part ... Read More »

                    Debt Settlement Company Debt Relief USA Files Bankruptcy

                    Debt settlement company Debt Relief USA has filed bankruptcy in Texas following recent investigations and suits by the attorney general of several states. The bankruptcy petition can be viewed here and shows the ownership of Debt Relief USA to be Kelly E. Reilly, Alvin B. Bell, and James F. Wojcik. What will be significantly up in the air is going ... Read More »

                      New York State Shuts Down Debt Collection Companies That Used Illegal Scare Tactics

                      Ready to Collapse

                      Attorney General Andrew M. Cuomo announced that his office has shut down a New York collection operation that consisted of at least nine debt collection companies across Western New York, run by Buffalo resident Tobias Boyland. This is the latest action in Attorney General Cuomo’s ongoing investigation of unlawful debt collection practices. According to hundreds of consumer complaints filed with ... Read More »

                        Call to Action Debt Management Plans Rolling Out Slowly. May Benefit Consumers Looking to Repay.

                        Ready to Collapse

                        For years I have been emphatic that in a credit counseling or debt management repayment plan, it isn’t the interest rate reduction alone that is important, people need to get their monthly payments reduced. That’s more important. New “Call to Action” debt management plans (DMPs) offer low or no interest rates to people who can qualify. In addition, the plans ... Read More »

                          Florida Credit Repair Firm, U.S. Credit Find, Reaches Settlement With Illinois Attorney General

                          Ready to Collapse

                          Attorney General Lisa Madigan has shut down the alleged “phone cramming” operations of a Cape Coral, Fla., credit repair company that placed unauthorized charges on the phone bills of thousands of Illinois consumers, small businesses and local governments. Through a settlement agreement reached with the Attorney General, US Credit Find and its owner, Aaron Stanz, have agreed to cease participating ... Read More »

                            Elizabeth Warren Fights for New Consumer Financial Protection Agency

                            Ready to Collapse

                            I’m really happy to see my friend Elizabeth Warren out in front of new ideas to protect consumers from banks and lenders. Maybe the time has come that consumers will be entitled to some representation in government when it comes to banking products and the banking system. Ms. Warren, for years a scourge of Wall Street, has emerged as an ... Read More »

                              Listen to Me on NPR, Please, Please.

                              Starting at about minute 22 you can hear my segment about financial education and my personal story of debt. You can see the segment in the podcast bar as the “Getting Into and Out of Debt.” If you can’t see the podcast show above, click here. Get Out of Debt Guy – Twitter, G+, Facebook Read More »

                                Get My FREE Get Out of Debt Guy Newsletter

                                It is the smart thing to do.

                                I promise to keep your email safe and secure.

                                Close

                                I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

                                You can unsubscribe at any time with just one click.

                                After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


                                • It will keep you posted on the latest scams.
                                • You will be alerted to the latest articles.
                                • You will wind up smarter than everyone else dealing with debt.