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AVOID – Proposed Litigation Notification – Investigation Advertisement Mailer

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A hero reader has sent in a new mailer that is promoting legal action against New Century Mortgage. It appears to be a mailer that could be used generically against other lenders as well. The reader said, “On Saturday I received via postal mail what appears to be (attached) the latest iteration of a mass joinder mailing. I believe that ... Read More »

    Offer In Compromise Rules Relaxed by IRS. Big News!

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    I do not normally get motivated by IRS changes in collection rules, but yesterday’s change to the Offer in Compromise (OIC) program was fairly significant. As you know, this program allows taxpayers, who qualify, to settle their tax liability in full for an amount less the full liability owed. There are many deceptive companies who publish that they can get ... Read More »

      Life After Bankruptcy – The Truth

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      Here is what you need to know right off the bat, there is absolutely life after bankruptcy. Ironically for many their financial lives turn out to be better and stronger than before. Almost all the negative preconceived notions you may have about bankruptcy are generally incorrect. That surprises most people. Let’s look at some of the key areas of life ... Read More »

        The Seven Stages of Debt. Which Stage Are You In?

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        Many years ago I wrote my original Seven Stages of Debt, as modified from the Five Stages of Death and Dying by Dr. Elisabeth Kubler-Ross. Both experiencing the emotional loss of a loved one and the emotional loss of your financial life are similar in some distinct ways. However, the emotional stages of debt also have two additional components that ... Read More »

          Should I File for Bankruptcy?

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          Many people are all mixed up when it comes to figuring out the tough question, “Should I File for Bankruptcy?” Right off the bat I can give you a definitive answer, “Maybe.” Bankruptcy is a legal process that is available to consumers that are suffering under the weight of problem debt. The law affords consumers a periodic right to establish ... Read More »

            Mortgage Modification Company Former Owner Facing 80 years in Jail

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            Isaak Khafizov, a former owner of American Home Recovery (AHR), a mortgage loan modification business, was found guilty yesterday in Manhattan federal court of conspiracy, mail fraud, and wire fraud in connection with a scheme to defraud distressed homeowners and lenders. Khafizov was convicted after a ten-day jury trial presided over by U.S. District Judge George B. Daniels. He was ... Read More »

              Getting a Job or Finding a Job After Bankruptcy

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              A common conern I hear from time-to-time is if someone goes bankrupt will they be able to find a job or get a job. The answer will surprise you. According to Christine Saah Nazer, of the U.S. Equal Employment Opportunity Commission, “The use of credit histories in employment can have a disparate impact on a range of people, including people ... Read More »

                Credit Reports, Credit History, and Credit Scores in Hiring and Job Performance. Is It Even Fair?

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                You hear all the time how credit history can impact your ability to get a job. In the debt relief world debt settlement and credit counseling companies claim bankruptcy prevents people from getting jobs and that’s why people need to use their services instead. But what is reality and what is the negative impact of alternative interventions like debt settlement ... Read More »

                  How Does Bankruptcy Work?

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                  Bankruptcy is one of those things people are afraid of, but they really don’t know why. Once you learn the facts about bankruptcy and how it works, you’ll want to know more. Bankruptcy is a legal process that is administered through the court. While people can technically file bankruptcy themselves, it’s not a smart idea. Mistakes happen and a mistake ... Read More »

                    Nonprofit Student Loan Debt Collector Makes About Half a Million

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                    Bloomberg Businessweek is reporting that Educational Credit Management Corporation, an IRS educational charitable nonprofit group, paid Joshua Mandelman, a student loan debt collector for ECMC, nearly $500,000 in a single year. ECMC’s debt collectors earn bonuses as a reward for extracting money from defaulted borrowers. In 2010, the bonuses for top performers amounted to as much as 10 times their ... Read More »

                      Bogus U.S. Embassy Email Asks for Money – Scam Alert

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                      A reader sent in the email below that claims to be from a U.S. Ambassador. I wanted to use it to point out a number of warning signs. Starting from the top: The email address this is sent from is not a government address. The reply to address is not a government address. The flag shown is for the U.S. ... Read More »

                        Debt Settlement Companies Suffer from Premature Representation

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                        First, I’d like to say thank you to Steve Rhode for the invitation to make a guest post. Steve, I greatly appreciate you opening up your venue. Rather than focusing on what Debt Relief A La Carte offers, I’d like to take this opportunity to discuss why. It will be much more meaningful for all. I’ve been waiting for a ... Read More »

                          If You Rent It Could Help Build Good Credit

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                          Experian today announced a new product to help renters convert their on-time rental payments into good credit. Up until now Experian had only really been adding rental history through its RentBureau product that is used by big apartment complexes. Now they’ve launched a new product for use by all landlords, big or small. ClearNow allows for landlords to collect payments ... Read More »

                            Military Star Card / Military Star Rewards MasterCard / AAFES Card- What You Need to Know First

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                            The Military Star Card is a credit card that is marketed and promoted to military personnel. In the past it was known as the AAFES card as well. This card is limited to use at military Exchange stores or through the Exchange website. Only people who are active duty military, military retirees, reservists, National Guard personnel, Department of Defense employees ... Read More »

                              Can I Get Into the UK if I Have An Old Debt There? – Manish

                              “Dear Jon, my name is manish.i have lived in UK for 5 years and have some debts.i have come back to my home country because my student visa was running out..it has been 2 years since i have come back from UK. can i travel back to UK, if i had some old UK debts?is UK immigration relate to my ... Read More »

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