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Debt Settlement Industry – Sued in RICO Complaint

The stomach ache is the symptom, not the problem. What is causing the stomach ache?

It what I can only describe as a bombshell of an email, apparently debt relief industry individuals received the email below from Ira Frazer of Consumer Legal Services America, that has explosive implications. The email reads like a conference listing of both sides of the debt settlement industry. I reached out to Ira Frazer yesterday for more information but as ... Read More »

    Reader Raises Concerns About Financial Rescue, LLC and Success Link Processing, LLC by Consumer

    Feedback

    I received an email from a reader, along with a filed complaint, who expressed some serious concerns about two companies selling debt settlement services; Financial Rescue, LLC and Success Link Processing, LLC. The reader sent in the following statement: “In August of last year, I enrolled in this company from Financial Rescue LLC in Milpitas, CA. They are a local ... Read More »

      How I Got Out of $63,000 of Credit Card Debt

      credit-card-debt

      Sleepless nights.  A knot in the pit of the stomach. A gnawing sense of unease. Charles Phelan was familiar with the physical and emotional toll of debt. But usually it was his clients who were experiencing those symptoms. This time, it was his turn. He owed more than $50,000 in credit card debt and knew it was time to make ... Read More »

        CC Brown Players Charged in Mortgage Modification Scheme

        law books

        WASHINGTON, DC – Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), and Carlie Christensen, United States Attorney for the District of Utah, today announced that a 40-count federal indictment unsealed on March 5, 2015, in U.S. District Court in Salt Lake City charges six individuals with violations of federal law in what the indictment alleges was ... Read More »

          California Man Sentenced to 24 Years in Fed Prison for Foreclosure Rescue Scam

          mans hands behind bars in jail or prison

          Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), and Benjamin B. Wagner, United States Attorney for the Eastern District of California, today announced that Alan David Tikal, 46, formerly of Brentwood, Calif., was sentenced on Thursday by United States District Judge Troy L. Nunley to 24 years in federal prison for his convictions on 11 counts ... Read More »

            I Don’t Give a Damn About My Credit, Said Almost No Car Buyer

            buying car

            The credit report folks, Experian have released data which surprised even me. There are whole camps of people out there, typically Dave Ramsey fans, who say they don’t need credit and don’t plan to ever use credit again. But according to Experian, 84% of people who purchase new vehicles actually do use credit. Credit avoiders can talk a big game ... Read More »

              U.S. Dept of Education Says Some of Their Debt Collectors Just Suck

              Portrait Of Shocked Woman Looking At Camera Isolated On White Ba

              Following a review of 22 private collection agencies, the U.S. Department of Education announced today that it will wind down contracts with five private collection agencies that were providing inaccurate information to borrowers. The five companies are: Coast Professional, Enterprise Recovery Systems, National Recoveries, Pioneer Credit Recovery, and West Asset Management. The Department also announced that it will provide enhanced ... Read More »

                Is Your Better Credit Score Just Waiting For You?

                CreditVision

                A recent TransUnion study found that more than 23 million U.S. consumers would be classified as Super Prime, the highest-rated consumer credit risk group, when evaluated by TransUnion’s CreditVision® risk score. Compared to the use of a traditional risk score, the use of CreditVision would increase the percentage of consumers in the Super Prime risk category from 12% to 21%. ... Read More »

                  British Columbia Pulls Rug Out From Under Advanced Fee Debt Settlement in Canada

                  canada

                  Enhanced protections for B.C. families, particularly those in financial distress, are at the heart of legislative changes introduced today by the B.C. government. The Province is taking action to regulate the debt settlement industry with amendments to the Business Practices and Consumer Protection Act (BPCPA). If passed, these amendments will prohibit debt settlement companies from charging fees until both the ... Read More »

                    What Can I Do if I’m Delinquent on My Federal and Private Student Loans?

                    student loan default

                    Q: What are my debt relief options if I am delinquent on both my federal student loans and my private student loans? A: Falling behind on your student loan payments is a problem far too common. I speak with people on a frequent basis facing delinquency in payment of their student loans. One of the problems I hear most often ... Read More »

                      How To Reduce Debt Buyer Collection Lawsuits

                      gavel

                      Last week the CFPB and the FTC held a workshop to address what happens to unpaid debts at different stages of the debt collection cycle. The workshop brought together state and federal regulators, economists, major banks, debt collection agencies, debt buyers, consumer advocate attorneys, technology companies, members of the judiciary, credit reporting agencies, and more. The workshop was aptly titled ... Read More »

                        How Avoiding Bankruptcy Can Backfire

                        FRBNY-1

                        In the world of personal finance, credit concerns and debt issues, there is no single issue that is more misunderstood than bankruptcy. Recently the Federal Reserve Bank of New York came out with an exceptional report on the bankruptcy reform of 2005 — which made it tougher for people to file bankruptcy, and was the last time bankruptcy law was ... Read More »

                          The Very Odd BBB Statement About Student Loan Service Managers – SLS Managers

                          warning

                          A reader just posted a complaint about SLS Managers and in looking up the company address I came across the oddest comment by the BBB about this company. SLS Managers says they are located at 23172 Plaza Pointe #128, Laguna Hills, CA. – Source But the BBB says, “BBB received returned mail from “23172 Plaza Pointe Dr #138 Laguna Hills, ... Read More »

                            Mysterious Mortgage Reduction Mailer Lands in Mailbox

                            Mortgage Offer

                            An amazing reader, Carol, sent in a new debt relief mailer through my I Buy Junk Mail program. What caught my eye at first was how the company sending out this mailer from Postal Permit 1297 is not identified on the envelope or the mailer. This clearly appears to be a lead generation mailer by some totally unknown company. Any ... Read More »

                              Those That File Bankruptcy Do Better Than Those That Don’t

                              Woman in yoga lotus  meditation at seaside

                              This report is republished from the Federal Reserve Bank of New York and contains the authors analysis and finding about bankruptcy following the 2005 reform. Personal bankruptcy was introduced in the United States through the Bankruptcy Act of 1978. After passage of the act, bankruptcy rates rose steadily until 2005, when Congress passed the Bankruptcy Abuse Prevention and Consumer Protection ... Read More »

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