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Student Loan Rescue Offers Draw Growing Concern and AG Suit

law books

Just recently more press has appeared about the growing market of student loan assistance companies. One article even said, “For the debt settlement industry, all this means a tantalizing gold mine of new customers. “Your entire student loan can be forgiven,” Broadsword Student Advantage of Carrollton, Texas, boasts in radio ads. Debt settlement companies, which offer to help borrowers lower ... Read More »

    Phony Payday Loan Lenders Lose Rolls Royce and Ferrari


    The operators of a Tampa, Florida-based payday loan broker scheme have agreed to settle Federal Trade Commission charges that they falsely promised to help consumers get loans, but instead used consumers’ personal financial data to take money from their bank accounts without their consent. Claiming to be affiliated with a network of 120 potential payday lenders, defendants Sean C. Mulrooney ... Read More »

      Hoffman Law Group Labeled Scam by Former Lawyer


      The Hoffman Law Group, who promised all sorts of mortgage relief for troubled homeowners, is certainly in the hot seat. Both the Palm Beach Post and WKMG in Orlando have recent articles about allegations and activities. The Orlando story was interesting. The video below shows a local reporter trying to get a comment from attorney Marc Hoffman, who the Florida ... Read More »

        Loan Modification Victims of Lucas Law Center Get Money Back


        The Federal Trade Commission is mailing refund checks totaling $499,701.84 to 229 consumers who paid the Lucas Law Center an advance fee for mortgage loan modifications the company falsely claimed it would obtain for them. Lucas Law Center allegedly used an attorney to circumvent state prohibitions against receiving a fee before providing any services; the defendants charged up to $3,995 ... Read More »

          Advanced Fee Credit Repair Still Bullshit

          Crime Or Corruption Cartoon Illustration

          Yesterday the Federal Trade Commission announced a very successful action against RMCN Credit Services for charging consumers for credit repair services. Over the years some readers have insisted in arguing with me that charging advance fees for removing negative but accurate information from a credit report is perfectly legit. Well that approach is bullshit, was bullshit and will continue to ... Read More »

            Why is the Department of Education Being so Opaque on Student Loans?

            puzzled looking little boy looking to the left

            Over the past few months I’ve attempted to gets statistics, facts, and figures from the Department of Education to better understand the performance of their income based repayment programs and get better clarity on their collection process for delinquent student loans. After multiple Freedom of Information Act requests the results are less than optimal. To my request for payment performance ... Read More »

              New Obama Student Loan Proposal – Swing and a Miss


              Yesterday President Obama made an announcement that a good federal student loan repayment program would be expanded to allow up to five million more people to take advantage of Pay As You Earn (PAYE). Certainly on face value it seems like a grand advancement and it is a small step in the right direction but in reality it’s more like ... Read More »

                How to Get a Co-Signer Off a Private Student Loan


                Private student loans are bad news all by themselves but when you add in a co-signer, things can get very financially messy. Co-signers think they are doing a nice thing for their relative or child when they co-sign. They think they are helping to further the persons education and give them a hand-up in life. But often what they are ... Read More »

                  Letters to Release Co-Signer From Private Student Loan

                  break free from prison pressure or quit job running away towards

                  Sample Letter on How a Borrower Can Release a Co-Signer You may use the sample letter on the next page to ask your loan servicing company for more information about how to release a co-signer. How to use this sample letter: Read the background below. Fill in your information on the sample letter and edit it as needed to fit ... Read More »

                    Who Is Consumer Relief Attorneys a Reader Asks


                    I received an email from a reader asking me who Consumer Relief Attorneys was. The reader had attached a link to this file and made a statement an Alabama attorney by the name of James Oster was somehow related to Consumer Relief Attorneys. I don’t know if that is true. It is tough to tell from public records since there ... Read More »

                      Sovereign Associates and Sovereign Funding Sent Me This Offer. What Do You Think?

                      Sovereign Associates

                      A very nice reader sent in the following offer they received and said, “I will just be grateful if this is not legitimate and it helps me and/or others that are in a financial hardship and get something that seems to answer their prayers and may fall subject to an even worse situation. That in itself is awful! Thank you ... Read More »

                        When Bankruptcy Feels “Wrong”

                        Mature woman confused

                        By Paula Langguth Ryan When it comes to your debts, are you stressing yourself out financially or creating financial hardship for yourself or a loved one? Has anyone suggested you consider bankruptcy? Do you get queasy even considering the idea? I want you to pay attention to where any feelings of “it just feels wrong inside” to not pay your ... Read More »

                          Marc Hoffman of Hoffman Law Group to Face Bar Issues


                          The Hoffman Law Group is/was a Florida based company that is said to have provided foreclosure rescue services and solicited consumers for mass joinder suits against lenders. This approach has been problematic and a number of authorities have warned consumers about this type of activity. The Palm Beach Post is reporting: “A North Palm Beach lawyer who advertises foreclosure-rescue services ... Read More »

                            FTC Bans MLM Executives and Says Claims Were Bogus

                            broken piggybank with dollar notes

                            The operators of a Kentucky-based pyramid scheme, which enrolled more than 350,000 consumers throughout the United States, Puerto Rico and Canada in the last four years, have been banned from multi-level marketing under a settlement with the Federal Trade Commission and the states of Illinois, Kentucky and North Carolina. The settlement also requires the operators to surrender assets totaling at ... Read More »

                              Who is Consumer Legal Resources of Florida?

                              Adult Ed - Questions

                              A reader asked me today about a company out of Florida called Consumer Legal Resources of Florida that the State of Florida says Joseph Hilton is the president of. The company was registered in Florida on April 25, 2014. Does anybody know what this new company is going to be doing for consumers or selling? Get Out of Debt Guy ... Read More »

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