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CFPB to Credit Card Companies – A Big Finger Wag on Offers

cfpb

Today the Consumer Financial Protection Bureau (CFPB) warned credit card companies against deceptively marketing interest-rate promotions. The Bureau is concerned that some companies are luring in consumers with offers of reduced or zero interest for a specific purchase or balances transferred from another credit card, and then hitting them with surprise interest charges. In the bulletin released today, the Bureau ... Read More »

    U.S. Department of Education Practically Prison Raped Over Student Loan Collections

    NCLC Report

    To say the National Consumer Law Center (NCLC) just took issue with the relationship between the U.S. Department of Education and private debt collectors would be like saying a pedophile Santa at the Mall was no problem. While I believe the U.S. Department of Education wants student debtors to be treated fairly and have access to all of the available ... Read More »

      Four Magic Words to Get Out of a Debt Collector Lawsuit

      angry caller narrow

      What I’m about to offer you can be used for good as well as evil so please use this information responsibly. Additionally, I always urge all of my readers to consult with an attorney licensed in their state for legal advice. I am not a lawyer. But over the decades I’ve been helping people with problem debt there is one ... Read More »

        Are Debt Collection Companies Hated Too Much?

        Alone and Lost

        There is no shortage of reasons to be upset at debt collectors. Some are just assholes. But the problem is not all are. Some debt collectors actually want to help people to find ways to repay their debt. They want to play by the rules and follow the regulations. The bad debt collectors just give the entire industry a bad ... Read More »

          Debt Settlement Nightmare Partially Over for Allegro Law Clients

          upset young man

          Back in 2009 one of the first debt settlement companies to colossally meltdown was a lawyer run company, Allegro Law. This case involved not only Keith Nelms, Esq. but dragged in groups like Americorp and people like Tim McCallan. A couple of days ago the Trustee in the Allegro Law bankruptcy case had finally cleared all the necessary hurdles and ... Read More »

            Berges Law Group and Consumer Protection Counsel Still in Suit With a Twist

            process

            I got my hands on a copy of a recent court document on a suit by a consumer against Otto Berges, Berges Law Group, Paralegal Staff Support, and Consumer Protection Counsel. The suit out of Wisconsin alleges the companies and entities may have been intertwined in a effort to sell credit repair services. The motion from Judge Griesbach says, “the ... Read More »

              New York AG Goes After More Mortgage Relief Firms

              waving

              As part of a joint federal-state sweep by the Consumer Financial Protection Bureau, the Federal Trade Commission and 15 states targeting scam operations that prey on financially struggling homeowners and those facing foreclosure. Along with the FTC and CFPB, attorneys general from the following states participated in the sweep: Arizona, Delaware, Florida, Indiana, Illinois, Kansas, Louisiana, Maryland, Michigan, New Mexico, ... Read More »

                Debt Relief Providers Still Crying From Low Delinquencies

                cc delinquency

                According to the credit reporting agency TransUnion, credit card delinquency has hit a seven year low. That’s good for consumer but not so good for credit counseling, debt settlement, or bankruptcy providers. The national credit card delinquency rate declined to its lowest level in at least seven years, dropping from 1.27% in Q2 2013 to 1.16% in Q2 2014. The ... Read More »

                  Mass Joinder Player Phillip Kramer Resurfaces in Different Scheme Alleges CT & FL

                  a_kick_in_the_nuts

                  In a bit of a shocker a couple of names who were hot and heavy in the front-end of the mass joinder schemes have resurfaced again according to the State of Connecticut and the Attorney General of Florida. On August 22, 2014 both parties filed an amended complaint against a whole chadre of individuals and companies. They included Berger Law ... Read More »

                    Student Debt Doctor Decides Use of Department of Education Logo is OK

                    oops

                    UPDATE 8-27-2014: Hat tip to Gary White from Student Debt Doctor for pulling the Department of Education logo from the site following the article below. Gary said, “I had no idea that was the Department of Educations logo and have taken it the logo down. I had a friend do the site for me, I asked that he put a ... Read More »

                      Hell Just Froze Over. Global Client Solutions Tagged by CFPB.

                      cfpb

                      The Consumer Financial Protection Bureau has just announced an action they took against the bulwark debt relief escrow company, Global Client Solutions, who was collecting fees from consumers. Today, the Consumer Financial Protection Bureau (CFPB) announced an enforcement action against Global Client Solutions, a leading debt-settlement payment processor, for allegedly helping other companies to collect tens of millions of dollars ... Read More »

                        Did This Student Loan Relief Company Just Put Out the Worst Ad Ever?

                        Actual event photo. Notice a different website is actually in the banner.

                        A reader and tipster sent in the image below of an advertisement they saw on Facebook. They said, “Check out the attached Facebook ad – they are implying that their website, studentdebtsupport.org, which redirects to Streamline Student Loan, is a part of the College Affordability Act. They also claim in the same ad that “EVERYONE” qualifies for forgiveness, and to ... Read More »

                          FTC Asks Court To Shut Down Phony Debt Relief and Credit Repair Scheme

                          scam

                          The Federal Trade Commission asked a federal court to shut down a scam that targeted financially distressed Americans by pitching a phony debt relief and credit repair program, and by falsely claiming the program was provided and funded by the federal government and endorsed by President Obama. The FTC’s complaint targets the operators of two websites that were allegedly full ... Read More »

                            Debt Got You Down? Read This and Get Back Up.

                            Better Days, Just Ahead Green Road Sign with Copy Room Over The

                            Dealing with debt worries and stress can make you feel like your life is dark, hopeless and not worth facing another day. And while you feel that way, it’s not reality. I wish I had a magic wand to make you see the way forward but for some reason people feel compelled to make all sorts of the same mistakes ... Read More »

                              Is The Steadman Group Really Ed Cherry?

                              puzzled looking little boy looking to the left

                              Earlier this month I received an email asking if a new website for The Steadman Group was really related to Ed Cherry. For readers who may not recognize the name, Edward Cherry has been a name floated around for some time in the debt relief world. You can click here for some past articles. I think the reader question came ... Read More »

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