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Debt Articles

Do Regulators Treat Debt Relief Companies Unfairly?

Stone Balance

I was just sitting down with a friend in the debt relief industry who leans a lot further right than I do as a liberal lefty. I always enjoy the alternative point of view conversations on topics and that person does always make me smile because of the diverse points of view we often have on the same debt relief ... Read More »

What I’m Reading on May 13, 2016

Attractive red-haired female reading a manual before do-it-yours

For Nebraska’s Poor, Get Sick and Get Sued Nebraska’s flood of suits isn’t merely a reflection of residents’ inability to pay their bills. About 79,000 debt collection lawsuits were filed in Nebraska courts in 2013 alone, according to a ProPublica analysis. In New Mexico, a state with a population, like Nebraska’s, of around two million, about 30,000 suits were filed. ... Read More »

A Tim McCallan Asks Me to Remove Articles

Cows inside the snowy forest. High in the mountains of Navarra in Spain.
** Note: Slight graininess, best at smaller sizes

I have a very liberal policy of adding any statement to any article regarding anyone who thinks something I wrote is inaccurate. The Report an Error link can be found on nearly every page on the site. But I just received a request that I was unable to add to any article since the request referred to a category and ... Read More »

A Look at Debt Relief Opportunities and Trends in May, 2016

crystal ball

It’s been quite some time since I wrote a debt relief industry forecast and trend article. These articles have not been all that popular because most of the people are in denial about the reality I see. You can see past articles here. In the past I used Google search volume as an indicator of general interest in various debt ... Read More »

I Went to University of Phoenix Without Graduating from High School

Money puzzle piece

Question: Dear Steve, I went to University of Phoenix back in 2002. I started going to classes onsite in Dallas but then moved to online approach when I relocated to another state. I finished the Master of Arts in Organizational Management in 2004 but have not been able to use the degree..in fact took it off my resume. It is ... Read More »

FTC Returns Money to People Harmed by Debt Relief Scam

money

The Federal Trade Commission is mailing 1,630 checks totaling nearly $1.87 million to consumers who lost money to an illegal telemarketing operation, collectively known as Expense Management America, that charged homeowners an up-front fee for debt and mortgage relief services it never provided. Since the FTC brought an action against the Canada-based operation in September 2012, it has obtained a ... Read More »

So Sue Them: What We’ve Learned About the Debt Collection Lawsuit Machine

It might not be right but it is what it is. Debt collectors and others know how to get you to do what they want by pushing your fear buttons. They do it because it works.

by Paul Kiel ProPublica, May 5, 2016, 8 a.m. Millions of Americans live with the possibility that, at any moment, their wages or the cash in their bank accounts could be seized over an old debt. It’s an easily ignored part of America’s financial system, in part due to a common attitude that people who don’t pay their debts deserve ... Read More »

Morgan Drexen Problems Not Over Even In Their Own Bankruptcy

Morgan Drexen Integrated Systems (20120116)

The national debt settlement company Morgan Drexen, whose successors are embroiled in their own legal troubles, seem to be facing more upcoming issues from their own bankruptcy filing. On April 30, 2015 Morgan Drexen filed for bankruptcy protection. The filing was converted to a Chapter 11 reorganization and then back to a Chapter 7 liquidation. The Bankruptcy Trustee appears to ... Read More »

Nationally Sanctioned Debt Reduction Initiative Mailer – Beware

Mailer

An amazing reader sent in a new debt relief mailer through my I Buy Junk Mail program. These debt reductions mailer are infuriating to me. I mean let’s at least try to tell people the information in a way that can make some sort of logical sense. And it would be nice to see mailers that were open about being ... Read More »

I’m a Pilot. Can My Student Loans Be Discharged in Bankruptcy?

You want your pilot to use a checklist so they don't miss anything important, don't you?

Question: Dear Steve, I am a pilot who currently has several private student loans that are making me unable to own a home or even live on my own. I was a victim of scam in which they said my loans would be discharged in court meanwhile I was supposed to pay a very large fee. Upon some investigation I ... Read More »

Permanently Disabled People Eligible for Total Federal Student Loan Forgiveness

Screen Shot 2016-04-13 at 2.41.50 PM

The Obama administration is rolling out plans to forgive the federal student loan debt of people who are designated as permanently disabled by the Social Security Administration. This is estimated to forgive about $8 billion in federal student loans and assist debtors who are permanently disabled from having benefits garnished and forcing them through struggles with their student loans. The ... Read More »

Did You Pay for HSBC CreditKeeper? You Can Get All Your Money Back.

handing_over_money

HSBC Bank has been ordered to pay a $35 million penalty for not delivering what they promised to consumer regarding their credit monitoring product, CreditKeeper. Customers eligible for restitution include those who were unfairly billed for CreditKeeper, a credit-monitoring product marketed and sold by the bank, its affiliate HSBC Bank Nevada, N.A., Las Vegas, Nevada, and their vendors. The restitution ... Read More »

Download Free Book on Business Credit

FYOB-free (1)

Shortage of capital is the biggest challenge entrepreneurs say they face, and one of the most common reasons they fail. That’s the reason Rich Dad Advisor Garrett Sutton and Nav’s Head of Market Education Gerri Detweiler teamed up to write Finance Your Own Business: Get on the Financing Fast Track, a guide that will help you at any stage of ... Read More »

Look How Different It is to Get Out of Debt in Scotland

Eilean-Donan-Castle scotland

Scotland remains very much a part of the United Kingdom, despite the prospect of becoming an independent country having been raised in earnest during the national referendum on the subject back in 2014. But even as part of the UK, Scotland is able to function as its own country in many respects and can often establish quite different ways of ... Read More »

New Trump Credit Card Not For Mexicans or Ugly Women

Drive Carefully

In an effort to make America great again the Donald Trump campaign grabbed media attention this morning when it beat others to the punch in a virtual public relations riot. The announcement caught many off guard and was totally unexpected in its greatness. The announced plan describes an effort to churn the American economy faster than any other country since ... Read More »

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