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Executives at Debt Collection Agency Face Jail Time In Attempt to Defraud Bank. Face Jail Time.

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The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) and United States Attorney for the District of Connecticut David B. Fein today announced that Richard Pinto, 68, of Wellington, Fla., and Peter Pinto, 37, of East Quogue, N.Y., each pleaded guilty late Friday, May 11, before United States District Judge Stefan Underhill in Bridgeport to ... Read More »

    FTC Stops Deceptive Home-Based Internet Business Opportunity

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    The Federal Trade Commission halted an operation that allegedly lured consumers into spending thousands of dollars for Internet websites and advertising by misrepresenting that they could make lots of money by linking the sites to major retailers. The court ordered a stop to the defendants’ allegedly deceptive practices and froze their assets pending further litigation. The action is part of ... Read More »

      Student Loans Today are Akin to Debt Slavery. It’s Real and a Life Killer.

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      I grew up in an era where we were taught to go to college and get a degree. You would better your life I was told. That was the 1970s. At that time the majority of my peers were headed off to college and the majority would graduate without student loan debt. They had a degree and new hope for ... Read More »

        James Dimon, CEO – JPMorgan Chase Scam Email Alert

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        An email is being sent out to consumers purporting to be from James Dimon, CEO of JP Morgan Chase Bank. The email asks consumer to send $200 in order to receive $5 million dollars. It is a scam email. Don’t fall for it. The email says: From: “Mr. James Dimon CEO” Date: May 10, 2012 Subject: Re: Confirm Chase.com From ... Read More »

          Zombie Debt 1099 Style. And You Thought Your Old Debt Was Dead. LOL.

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          THE KING OF ZOMBIE DEBT: THE 1099-C. WHAT TO DO WHEN COLLECTION CONTINUES AFTER RECEIVING A 1099-C By Gregory M. Fitzgerals, Esq. Most folks who get a 1099-C accept that it is a good news/bad news thing. The bad news is you must include the 1099-C as income on your taxes. The good news is you no longer owe the ... Read More »

            Credit Counselor or Debt Collector? Midland Credit Management Applies Clever Approach.

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            I just had an opportunity to look at the website for Midland Credit Management and I must say, for a collections agency they certainly appear more like a credit counseling group. Don’t get me wrong, it appear they provide full and apparent disclosure they are a debt collector, “Please understand that this is a communication from a debt collector. This ... Read More »

              Stealing Trust – Marylanders Speak Out on Frauds, Scams and Financial Abuses

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              Got an hour to kill? Here is an interesting documentary that appeared on Maryland Public Television that covers a number of financial issues that have harmed consumers. The film covers a number of financial issues, including some debt settlement companies. Different consumers appear and share their story, A Baltimore resident talks about his experience in an advanced fee debt settlement ... Read More »

                Be YOUR Own Boss

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                Whether you’re a student out of school for summer, an unhappy employee, or someone who has been downsized, it is possible to get work even if companies aren’t hiring. Instead of relying on a corporate paycheck, entrepreneurs are becoming more innovative about making a living or adding to their regular incomes. Being your own boss means that you can overcome ... Read More »

                  Nonprofit 501(c)3 Credit Counseling Group Kind of Offering Debt Settlement

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                  It seems like it’s been several years now since I first started talking about the need for nonprofit credit counseling groups to offer debt settlement as a tool they can use to assist consumers with. A reader sent me an email and pointed out that Community Credit Counseling Corporation out of New Jersey is now doing that openly. Apparently they ... Read More »

                    Legal Helpers Debt Resolution Consumers Appear in TV News Story

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                    The following television interview about Legal Helpers Debt Resolution aired in St. Louis recently and it presented a couple of consumers that felt they had been left in a worse spot after using the services of Legal Helpers Debt Resolution. LHDR claims unhappy consumers represent a small fraction of their total clients. The story contains two Skype interviews. One is ... Read More »

                      Brookstone Law Mailer. The Line Between Clever Advertising and Too Much.

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                      A reader shared the following mailer from Brookstone Law. In the past I have been very critical of attorney mailers selling real estate related services that appeared to be official government looking forms or notices. Those forms did not disclose they were attorney advertising and some even had official looking government seals and logos. This mailer from Brookstone Law raises ... Read More »

                        Bxsy.biz Best Buy Giftcard Spam Text – Scam Alert

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                        The following information appears as a scam warning for consumers to avoid. I received the following spam text message. As you will see this message can lead to possible identity theft and a financial impact. Warn others not to respond to it. This spam text message is interesting in that it instructs recipients to text STP instead of STOP to ... Read More »

                          Billing Services Group Allegedly Made It Possible For Unauthorized Charges to Be Placed on Cell Phone Bills

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                          The Federal Trade Commission is seeking a civil contempt ruling against the nation’s largest third-party billing company, alleging that it placed more than $70 million in bogus “cramming” charges on consumers’ phone bills in violation of a previous court order. The FTC is asking a federal court to make the company pay more than $52.6 million, the total amount that ... Read More »

                            Western Union Payment Office – Email Scam Alert

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                            The following information appears as a scam warning for consumers to avoid. The following message is being sent to consumers. The email attempts to spoof an official Western Union communication. It is a scam. From: Western Union Payment Office Subject: Attention; Esteemed Customer, Reply-To: westernunionofficedpt@ymail.com Attention; Esteemed Customer, Greetings from Western Union®Money Transfer Agent Location, PO Box 6992 Greenwood Village, ... Read More »

                              Tennessee Protects Citizens From Debt Collectors. Arizona Serves Them Up.

                              A recent court case in Tennessee went all the way to the State Appeals Court. In this case the court ruled that debt collectors and secondary debt buyers need actual proof of the debt owed before they can recover it. The case involved LVNV Funding, Resurgent Capital and Sherman Financial Group. “In December 2009, Plaintiff/Appellee LVNV Funding, LLC, (“LVNV”) as ... Read More »

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