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An Examination of New CFPB Debt Collection Rules

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The Consumer Financial Protection Bureau (CFPB) has released new rules that will give it the authority to supervise the activities and actions of the nations largest debt collection agencies. While supervision does not extend to all debt collection groups, the lessons learned will. The CFPB stated that the purpose of this action and regulations of the debt collection industry was ... Read More »

    The Myth: American’s Have Learned to Avoid Debt

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    So much of what you hear about the recent economic trends of people learning grand lessons about avoiding debt, are just not true. While the level of unsecured consumer debt has decreased over these past four years, it’s not as if that was some grand American consumer awakening. No, that was the result of poor economic times and a lack ... Read More »

      Getting Your Credit Card Rejected at the Grocery Store, Sucks

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      I think all of us can remember an experience like this. “Anyone who has had a credit card declined in a public place like a store knows the news almost always sounds as if it is being delivered via megaphone by someone convinced to the very depth of her – or his – soul that you don’t pay your bills. ... Read More »

        Man Used Others Credit Cards for 20 Years to Stay in Hotels

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        Jeffrey Hawkins, 49, was busted by cops for trespassing at a Disney hotel and during the confrontation, Hawkins, who was now tired of running, blurted out the details on his two decade credit card fraud escapade. I guess he was tired of looking over his shoulder. “Hawkins then began to confess that he has been committing credit card fraud since ... Read More »

          Nursing School Student Selling Giant Dollhouse to Pay Off Debt

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          Interesting ad from a person who is dealing with pending nursing school debt by selling their ginormous dollhouse. Unfortunately there does not appear to be any way for people to contact the person to actually buy it. Dollhouse for sale! The giving season is near – do you know a special someone who would like a fabulous dollhouse of their ... Read More »

            SMS Loans. Turning Your Mobile Phone Into a 800 Percent Interest Rate Debt.

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            If you thought payday loans might be a problem, abused, and be too readily available to those that can least afford it, then you need to learn about SMS loans or text message loans. A SMS is a text message sent from a cellular or mobile phone. In some parts of the world, consumers can enter into payday loans just ... Read More »

              Financial Literacy Sought in Fiji to Prevent Hire Purchase Fleecing

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              The Consumer Council in Fiji is launching a financial literacy effort to help educate consumers about hire purchase agreements. For those that might not know, a hire purchase (HP) agreement is used to to purchase goods using installment credit. In cases where a buyer cannot afford to pay the asked price for an item of property as a lump sum ... Read More »

                New Zealand Credit Card Fraudster Targets Rich

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                A craft New Zealand man found an efficient way to commit credit fraud, he allegedly targeted the neighborhoods of people well off and took credit cards out of the mail. Adam Matthew Brown has been charged with 300 counts of credit card fraud after allegedly taking credit cards from 12 people living in the upscale Remuera area outside Auckland. Apparently ... Read More »

                  UK Woman Kills Self to Avoid Dealing With Debt Problems and Hidden Credit Card Debt

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                  From This is Staffordshire: A mother killed herself on the day she thought bailiffs were coming to repossess her home, an inquest heard. Tina Bennett, aged 40, was found by her son Anthony, and husband Michael, at the family home in Kidbrooke Place, Blurton, on May 11 this year. She had hanged herself using the cord from two dressing gowns, ... Read More »

                    Canadians In Trouble – “Half of Canadians are Living Paycheque to Paycheque”

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                    For those living in the United States, while we’d like to think at time the world should revolve around us and we should be the center of everything, when it comes to mastering consumer debt, that’s not true. Consumer debt problems exist in every single nook and cranny of the earth. The early warning signs are appearing in Canada. Even ... Read More »

                      Fake Bankruptcy Attorney Caught in Maryland Running Scalia & Seidel

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                      Michael mancini of Baltimore, Maryland was caught recently impersonating a bankruptcy attorney. it is reported he represented more than 50 consumers in bankruptcy before getting caught in his sham. Mancini, a high school graduate, was ordered by U.S. Bankruptcy Court Judge David Rice to pay $261,000 in fines and damages and close up shop. According to the National Law Journal, ... Read More »

                        Crazy Ass Lawsuit Filed by Spire Law Group on Behalf of Consumers Against Alleged Bank Conspirators

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                        As an investigative journalist and consumer reporter I’ve read a number of lawsuits, probably in the thousands at this point. But a suit sent to me this morning by a tipster (send in your tips here) has to be among one of the strangest I’ve seen. The underlying legal foundation of the case might be sound and the Plaintiffs might ... Read More »

                          Porn Debt, Stripper Debt, Sugar Baby Debt – More Financial Sexual Fetishes – Probably NSFW

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                          I learned two important things in researching this article. The first is the large number of people that admit some part of their debt problem was related to porn or the sex trade, and, when you search for porn debt there are some very odd results. Be careful. Not long ago I wrote about the niche of financial domination. See ... Read More »

                            Barnes & Noble Payment Data Compromised in CA, FL, IL, MA, NJ, NY, PA, and RI

                            Photo Credit: Grilled Cheese

                            The bookseller Barnes & Noble has announced that 63 of its stores were found to have payment terminals / PIN pads that had be tampered with and compromised. The announcement of the tampering says that only one PIN pad in each store was hacked. Barnes & Noble has since inspected every PIN pay pad in all of its stores. The ... Read More »

                              Canada Concerned About Exploding Consumer Debt Becoming a Drag

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                              Consumer debt levels in Canada continue to grow, creating a concern for the Bank of Canada. It’s a tightrope to encourage Canadians to spend to stimulate the economy and help improve the general economy in Canada and act prudently in order not to run up household debt to problem levels. As Canadian households have engaged in a borrowing spree, Federal ... Read More »

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