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Student Loan Alliance Teaches Credit Counselors What About Student Loans?

don't believe

Student Loan Alliance put out a press release earlier this week talking about the training they were giving credit counseling agencies in order to deal with student loan problems. Student Loan Alliance says the credit counseling agencies that participate in their approach and training are The participating organizations are: Consumer Credit Counseling Service of Greater Dallas, Consumer Credit Counseling Service ... Read More »

    A+ Financial Center Scheme Settles With FTC

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    The Federal Trade Commission has settled with a set of defendants associated with the A+ Financial Center scheme. They were charged in last year’s joint law enforcement sweep against five companies that made millions of illegal pre-recorded robocalls claiming to be from “Rachel” and “Cardholder Services” and pitching credit card interest rate reduction services. In the five complaints announced in ... Read More »

      Debt Defense America Brings Us More Debt Dispute Foolishness

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      Recently Michael Bovee and I collaborated on an article about the debt validation/debt dispute services being sold by Debt Defense Services. You can read that article, here. Right on the heels of that article I received a document from a tipster (send in your tips here) about a similar sounding company, Debt Defense America. It seems these debt dispute services ... Read More »

        Are Colorado Law Firms Overcharging People in Foreclosure?

        Sagging Economy

        Are people being charged inflated legal fees when they get foreclosed on? Well the Colorado Attorney General would like to know more and has filed suit for law firms to fess up. The Colorado Attorney General John Suthers is apparently concerned about law firms that handle foreclosures in the state. While fees are allowed to be passed on they are ... Read More »

          Debt Consolidation USA Says Avoid Credit Counseling

          bad decisions

          A nonsensical press release just out by Debt Consolidation USA warning consumers about credit counseling seems odd to say the least. Let’s go with the assumption the reason for this release was just to try and score some SEO points or something like that. The release refers to an article on their website titled “Reasons to Avoid Credit Counseling.” – ... Read More »

            CrossCountry Mortgage Mailer Offering New Loan and Debt Refi – Review

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            CrossCountry Mortgage is sending out offers for mortgage using the Making Home Affordable logo and offering quick closing loans. I certainly do have to give CrossCountry a hat tip on some items in the mailer. They did a much better job than you often see in the debt relief space. An amazing reader FitGal send in a recent mailer through ... Read More »

              Why People Have a Tough Time Shopping for Debt Help

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              The Federal Reserve Bank of Philadelphia published a paper by Stephanie Wilshusen which made some very enlightened observations about why consumers struggle with getting out of debt. In the paper, “Meeting the Demand for Debt Relief” it describes the options available to borrowers who seek assistance in managing their debts and discusses the information and incentive problems associated with these ... Read More »

                Computer Warning Seeking Money Is Scam

                scam

                A computer virus that locks up personal computers, and then issues a demand for money from the Department of Justice and the U.S. Courts, is a scam and has no link to the courts or other federal agencies. The virus locks up computers and warns users that they face criminal prosecution unless they pay a fee. Victims should contact the ... Read More »

                  Debt Collection Form Letters to Stop Debt Collectors in 5 Different Situations

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                  The Consumer Financial Protection Bureau has published five letters consumers can use in certain circumstances to deal with abusive debt collection practices. It is important for consumers to be aware that while these form letters may be helpful, the letters are best used in the right situation and to accomplish a specific task. For example, asking a collector or creditor ... Read More »

                    Perpetuating Poverty: Exploitative Businesses, the Urban Poor, and the Failure of Liberal Reform

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                    Here is a new paper out that may be of interest to all who want to know more about rent-to-own, payday lending and the title loan business. David Papke from the Marquette University Law School is to be commended for this paper. “This article scrutinizes the rent-to-own, payday lending, and title pawn businesses – all of which target and exploit ... Read More »

                      Federal Reserve Data Out Yesterday Still Shows Student Loan Concerns

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                      Yesterday the Federal Reserve released the latest data on consumer borrowing. It’s been interesting watching all the media reports about what it means. Some say the big percentage rise in revolving debt is an indication about consumer confidence, and it might be. But it’s not unusual to see a summer spike in charging as vacations ensue. What is more concerning ... Read More »

                        FTC Versus NCO Debt Collector. FTC Wins $3.2 Million Penalty.

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                        The world’s largest debt collection operation, Expert Global Solutions and its subsidiaries, has agreed to stop harassing consumers with allegedly illegal debt collection calls and to pay a $3.2 million civil penalty – the largest ever obtained by the Federal Trade Commission against a third-party debt collector. In its complaint, [which you can read here] the FTC charged that the ... Read More »

                          Debt Defense Services is Back and Making Some Disturbing Claims

                          caution

                          Recently a debt relief insider and tipster (send in your tips here) sent me documents that were being circulated by Debt Defense Services. I’ve written about them before, see this. This time they are trying to recruit people by telling them how debt settlement companies switch to selling their debt relief services once they hear about what they have to ... Read More »

                            Another Example of Student Loans Discharged in Bankruptcy

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                            I’ve been writing more about bankruptcy cases that have resulted in student loan discharges, see here. And in doing some more research I came across another case from 2012. In the Northern District of Georgia a consumer was able to get the following loans discharged: Oakland Community College – $754.80 Texas Guarantee Student Loan – $48,135 U.S. Department of Education ... Read More »

                              Florida Man Discharges Federal Student Loans in Bankruptcy

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                              Attorney Marilyn Hochman recently scored a victory in discharging federal student loans in a bankruptcy case. The consumer was able to discharge $8,223.49 in federal student loans without opposition by the Department of Education. Foster, the consumer, was unemployed and had previously filed for Social Security disability but was denied due to “not enough information.” Marilyn Hochman filed an adversary ... Read More »

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