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CFPB Publishes Advice if You’ve Given Someone Power of Attorney Over Your Money Matters

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The Consumer Financial Protection Bureau (CFPB) has recently published guidance that appears to have a direct connection to debt relief companies that manage the finances of others using a Power of Attorney (POA). I frequently see these types of relationship between consumers and debt relief companies, like settlement companies, and now more student loan assistance organizations. While the guidance in ... Read More »

    Big Changes Coming for Those Struggling with Federal Student Loans

    student loan default

    Let’s get the bad news out of the way, none of this good news in this article applies to private student loans. When it comes to private student loans my advice remains the same as it has been, avoid them like the plague. But for federal student loan holders as of July 1, 2014 a big change is being made ... Read More »

      Fake Payday Loan Collectors Halted by Court


      At the request of the Federal Trade Commission, a U.S. district court has halted an operation based in Atlanta and Cleveland that allegedly used deceptive and threatening tactics to collect phantom payday loan “debts” that consumers either did not owe, or did not owe to the defendants. The court order freezes the defendants’ assets to preserve the possibility of providing ... Read More »

        The National Consumer Hardship Program Mailer


        Well it looks like possibly misleading debt reduction mailers are still being sent out by that old postal permit 1297 in Sacramento, California. This one is for something that looks like a government check when you glance at it from the outside. The mailer is really for something called The National Consumer Hardship Program. And the fake check even goes ... Read More »

          United Tax Group Raises Questions by Reader

          Mature woman confused

          A reader wrote me and was curious why United Tag Group was advertising they are an A rated accredited member of the BBB. So I had to go check. And sure enough, the link the reader gave me, does show the company claiming to have that rating. It also claims they are a member of the National Association of ... Read More »

            Morgan Drexen Hits Speed Bump in Suit Against the CFPB

            head hanging

            Previously the somewhat debt settlement, social media, call center, software developing, reputation defending company Morgan Drexen in California sued the CFPB and challenged its constitutionality. I’ve written about that here, here, and here. On October 17th the United States District Court for the District of Columbia issued an opinion in the case. In the 29 page opinion, Judge Kollar-Kotelly had ... Read More »

              Association for Student Loan Relief Forms. Game On.


              For companies interested in selling student loan debt relief it appears a new organization has formed, led by noted debt relief attorney Robby Birnbaum of Greenspoon Marder. The group, Association for Student Loan Relief (AFSLR) is holding their first meeting in Las Vegas on December 12, 2013 at Mandalay Bay. Early sponsors of the association are listed as Greenspoon Marder, ... Read More »

                Sovereign Funding Sends Tribal Debt Consolidation Mailer to Consumers

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                A reader sent in a mailer which struck us as interesting because it was sent from the same postal permit 1297 that many of the debt relief mailers we’ve written about in the past had been sent from. This mailer appears to promise a debt consolidation loan. The reader sent the mailer through my I Buy Junk Mail program. The ... Read More »

                  Merchant Growth Capital Mailer Concerns Reader

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                  A reader expressed concern about a mailer they received which looked to be a pre-approved check but instead turned out to be an offer for a loan. The reader sent in a new debt relief mailer through my I Buy Junk Mail program. The inside of the mailer appears to state the money is available for use and “You do ... Read More »

                    California Sues a Number of Colleges for Doing Bad Stuff

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                    The California Attorney General has filed suit against some recognizable college names claiming they engaged in “false and predatory advertising, intentional misrepresentations to students, securities fraud and unlawful use of military seals in advertisements.” – Source The complaint names Corinthian Colleges, Heald College, Corinthian Schools, Sequoia Education, Career Choices, MJB Acquisition Corporation, Titan Schools, Rhodes Colleges, Florida Metropolitan, and Everest ... Read More »

                      Government Agencies Request Banks Be Gentle With Borrowers

                      afraid alone

                      The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, and National Credit Union Administration are all asking banks and lenders to be gentle with borrowers. The agencies are encouraging financial institutions to work with customers affected by the federal government shutdown. They say, “Prudent workout ... Read More »

                        Consumer Protection Counsel in Florida Raises Questions

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                        A company called Consumer Protection Counsel in Florida has raised some questions for me and I’m hoping readers can provide some feedback about them. What I heard was Consumer Protection Counsel, PA was allegedly going to charge a consumer more than $50,000 to deal with student loan issues. What made this curious and worth asking for public feedback was the ... Read More »

                          Meracord / NoteWorld Falls to CFPB. Global Client Solutions to Follow?


                          Yesterday the Consumer Financial Protection Bureau announced an action and settlement against Meracord, previously known as NoteWorld. Meracord was one of the two primary players assisting debt relief companies to collect money from consumers and then pass it on to debt relief companies. Global Client Solutions is the second. What makes this current episode all seem so silly was the ... Read More »

                            Debt Care USA Added to Scott Law Group Hit List

                            law books

                            The Scott Law Group, the Spokane law firm that has seemingly specialized in pursuing many debt relief companies has added a new company to their list. Debt Care USA has been added after a September 27, 2013 class certification in Spokane County Superior Court. Case documents can be accessed here. As of today the companies listed in play with The ... Read More »

                              How Colleges Can Screw Over Student Athlete Finances

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                              If you’ve ever been to college, you know how tough it can be to make ends meet. Need a nice shirt for a dinner with your advisor? Better shell out the $40.00 and resort to eating ramen noodles until you get paid or can ask your parents for some cash. And as a “regular” student, you might’ve harbored just a ... Read More »

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