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The Credit Card Landscape 2012 2Q [Infographic]

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    Superior Debt Relief Services And Their Incomplete Settlement Averages

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    A reader sent me a link to the Superior Debt Relief Services page on “Past Settlement Averages” and wanted my opinion on what it presented. Well if we were looking for a good example of what not to do in presenting fair and balanced information to consumers, this would be it. I’ll give them a half prop for trying to ... Read More »

      CFPB Sues Lawyer and Law Office for Loan Modification Services

      It appears the Consumer Financial Protection Bureau, under Enforcement Director, Kent Markus, is finally taking the gloves off and going after debt relief groups. This action moves against a law firm and lawyer that was working with outside parties to sell advanced fee loan modification and foreclosure resue services. According to Loeb & Loeb, “The CFPB sought and obtained a ... Read More »

        Mortgage Assistance Scam Targets U.S. Consumers But Operates From Dominican Republic

        Ready to Collapse

        At the request of the Federal Trade Commission, a U.S. district court has halted a nationwide scam operating from the Dominican Republic – but pretending to be in Chicago – that allegedly peddled fake mortgage assistance relief to financially distressed Spanish-speaking homeowners in the United States. The defendants promised to dramatically lower homeowners’ monthly mortgage payments in exchange for a ... Read More »

          Listen as Tough as Nails Consumer Dishes It Out to Legal Helpers Debt Resolution Supervisor

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          A reader and tipster (send in your tips here) sent me in a number of recorded calls with LHDR and information of her attempt to hunt down the Irvine office. She said: “I have reported LHDR to BBB and attorney general in California, Colorado and Illinois. I happened to be visiting in California – so I attempted to find these ... Read More »

            Understanding APR

            Ready to Collapse

            Dear Dollar Stretcher, Most of us have at least one mortgage these days, but there is so much confusion over the interest. It seems that by the time you’ve paid off your mortgage, the interest costs more than your home. I would love to know how the interest is calculated and how it can end up being way more than ... Read More »

              Bank of America Sues Fidelity Land Trust With Foreclosure Action

              2936 Estill Street, Deltona, Florida

              Fidelity Land Trust Company, a Florida based company who claims they are the “only real cash buyer of properties with negative equity” (source), a company I’ve writen about before (here) has been sued by Bank of America in Volusia County, Florida. I’m not sure if this is the first time they’ve been sued for foreclosure on one of the properties ... Read More »

                Beware of Omni Home Solutions and Rampart MMW Says Former Client

                Darrell Neilander, a former client of the foreclosure/tust company/mass joinder companies Omni Home Solutions and Rampart MMW sent in the following contributed information in an effort to help inform others of his experience with two companies that are claiming to help save his property from foreclosure and get his home free and clear. I’ve written about these companies, Omni Home ... Read More »

                  COURT ORDERS LAKOTA CASH AND TWO OTHER INTERNET PAYDAY LENDERS TO SHOW CAUSE WHY THEY SHOULD NOT BE HELD IN CONTEMPT FOR FAILING TO COMPLY

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                  COURT ORDERS LAKOTA CASH AND TWO OTHER INTERNET PAYDAY LENDERS TO SHOW CAUSE WHY THEY SHOULD NOT BE HELD IN CONTEMPT FOR FAILING TO COMPLY WITH THE ATTORNEY GENERAL’S INVESTIGATIVE SUBPOENAS In a case that has implications nationwide, the Circuit Court of Kanawha County issued an order on October 24, 2011, holding that Payday Financial, which did business as Lakota ... Read More »

                    Octomom the Latest to Endorse Payday Loans

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                    [repostus thumb=2569712 hash=8de81793c1c5e05ac067a54a2626145a title=Octomom%20the%20Latest%20to%20Endorse%20Payday%20Loans host=Credit.com short=1iztg] Read More »

                      Study: Payday Loans Used for Expenses, Not Emergencies

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                      [repostus thumb=2584759 hash=f948eb892894bd187b60668de1e8392e title=Study%3A%20Payday%20Loans%20Used%20for%20Expenses%2C%20Not%20Emergencies host=Credit.com short=1iJl8] Read More »

                        Capital One Spanked by OCC Over Servicemembers Civil Relief Act Violations

                        Ready to Collapse

                        The Office of the Comptroller of the Currency (OCC) today announced enforcement actions against Capital One, N.A., and Capital One Bank (USA), N.A., for violations and compliance deficiencies related to the Servicemembers Civil Relief Act (SCRA). The SCRA provides servicemembers relief from certain obligations and temporarily suspends judicial and administrative proceedings and transactions involving civil liabilities when military service affects ... Read More »

                          Chapter 13 Bankruptcy Trustee Sued by Bank of America to Stop Asking for Notes

                          Ready to Collapse

                          It appears Bank of America is none too happy with Henry “Hank” Hildebrand, a Tennessee chapter 13 bankruptcy trustee. Hank has been requiring Bank of America to produce the underling mortgage documents to prove they actually own the mortgages that are included in bankruptcy. When Bank of America can’t locate the paperwork, the trustee has been diverting the monthly payments ... Read More »

                            California Loan Modification Group, Owners and Manager, Hit With Millions in Loan Modification Scam

                            A final judgement was handed down in California against Statewide Financial Group, Hakimullah Sarpas, Zulmai Nazarzi, Sharon Fasela, aka Fasela Sheren. The July 23, 2012 decision stated all consumers who paid USHA and/or WeBeatAllRates.com from January 1, 2008 to July 14, 2009 will be contacted and offered full restitution. Restitution will be up to $2,047,041. The judge stated the owners, ... Read More »

                              Holy Crap – UK Consumer Loans Double Overnight

                              Ready to Collapse

                              It what can only be explained as a desperate attempt for UK residents to stay afloat using borrowed money, new figures out show a very disturbing trend in the amount of loans and overdrafts. According to statistics from the Bank of England, unsecured consumer lending on loans and overdrafts doubled from £379 million in April to £732 million in May. ... Read More »

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