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Debt Solutions Research Group Makes Me Mad as Hell, Even After Sleeping On It

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Yesterday a consumer posted a complaint about Debt Solutions Research Group – Royal Pacific Financial. You can see it here. I’ve seen enough complaints and shenanigans that not much stuff makes me downright boiling mad, but the way this consumer was treated sure did. And if you are in the debt relief industry, it should make you mad as hell ... Read More »

    Can I Nominate Steve Rhode for CFPB Consumer Advisory Board?

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    Several people have contacted me and asked if they could nominate me for the Consumer Financial Protection Bureau new Consumer Advisory Board. I would be honored to be nominated and most appreciative of your confidence in my ability to help protect consumers as a member of the advisory board. The Consumer Financial Protection Bureau says: We are looking for Board ... Read More »

      Fake 2010 U.S. Stimulus Plan Mailers STILL Being Sent

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      Now I’m just in disbelief that bogus debt relief mailers like this are still being sent out. There is nothing compliant about this mailer. It makes unsupported claims, fails to identify the company, and in my opinion, should be avoided at all costs. I’ve covered similar mailers like this before, which you can see in the related links below. This ... Read More »

        Golden Financial Services Misplaces BBB A+ Rating

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        Yesterday I wrote Golden Financial Services Says the Darndest Things About Being a Law Firm. The article came to the attention of the BBB who apparently decided they were going to take some sort of action. According to the new BBB page for them, “! BBB Business Review on Golden Financial Services Debt Settlement Corp. is being updated by BBB ... Read More »

          Mass Joinder Mitchell Stein at Spire Law Group

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          A tipster (send in your tips here) sent me in the following interesting document. Mitchell Stein is a person that has been in the spotlight by the California Attorney General and California Bar over alleged participation in mass joinder related issues. You can see all the past stories here. I probably would not have published this client document below but ... Read More »

            Forgiven Debt from Mortgages May Soon be Taxed Again as Income Unless Congress Acts

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            by Lois Beckett ProPublica You bought your house when the market was high and then lost your job. In order to avoid foreclosure, you negotiated a short sale for half of what you paid, ruining your credit rating for years and draining your bank account. But there is a tiny silver lining: Thanks to a 2007 law, you don’t have ... Read More »

              Debt Collectors Suffering Reduced Income as Well as Debt Relief Industry

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              A reader sent me a link to a story in Forbes that shed some light on the declining profit earned by debt collectors in this time where some assume they are cleaning up with so much past due consumer debt floating about. It’s not true. Profit margins have been slipping in the debt collection industry and layoffs and staff reductions ... Read More »

                Watch Out for Counterfeit Cashier’s Checks of Peoples Bank, Marietta, Ohio

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                Peoples Bank of Marietta, Ohio has reported that counterfeit cashier’s checks issued in the bank’s name and using a correct routing number of 044202505 are being presented for payment nationwide in connection with scams targeting law offices. Counterfeit items closely resemble the bank’s authentic cashier’s checks but may be identified by the following: The checks do not include the bank’s ... Read More »

                  New Scam Claims You Need to Pay the IRS for Money Being Held by OCC, Homeland Security or Department of Justice

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                  Fictitious correspondence, allegedly issued by the Office of the Comptroller of the Currency (OCC) regarding funds purportedly under the control of the OCC and other government entities, is in circulation. Correspondence may be distributed via e-mail, fax, or postal mail. Any document claiming that the OCC is involved in holding any funds for the benefit of any individual or entity ... Read More »

                    Beware of Counterfeit Cashier’s Checks from GreenBank, Capital Bank in Tennessee

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                    This alert has just been issued. Apparently scammers are sending out counterfeit cashier’s checks issued in the name of GreenBank (now Capital Bank, N.A.) and using a correct routing number of 064201832 are being presented for payment nationwide in connection with various Internet scams. Counterfeit items closely resemble the bank’s authentic cashier’s checks but may be identified by the following: ... Read More »

                      My College Won’t Release My Transcript Because They Claim I Owe Them Money. – Reshene

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                      My college won’t release my transcript or transfer my credits to a community college because they claim i owe them $950. This is untrue because I paid for semester that i did not get to attend because i was on sick leave and i was turned down for more student loans and couldn’t get a cosigner. So my school ask ... Read More »

                        Do Military Veterans on GI Bill Deserve to be Treated Fairly by For-Profit Colleges?

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                        Student loans are tough enough to deal with but it appears for-profit colleges are intentionally targeting military veterans eligible for the GI Bill. Students are winding up deep in debt at the more expensive for-profit college with no degree or a degree worth little. Some experts interviewed in the broadcast said that online degrees are viewed less favorably by hiring ... Read More »

                          Christian Sounding Debt Advice Groups Sued by Consumer – Good Shepherd Debt Relief and Trinity Financial Mission

                          A recent suit against Good Shepherd Debt Relief, Trinity Financial Mission, and Allen Morrow was brought to my attention by a reader. I’ve written about both Good Shepherd Debt Relief and Trinity Financial Mission in the past. The suit by Dallas Yoder in Ohio claims Good Shepherd Debt Relief, Trinity Financial Mission, and Allen Morrow were offering debt settlement and ... Read More »

                            FTC Gets Contempt Ruling Against Promoter of Credit Repair and Debt Relief Services

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                            At the request of the Federal Trade Commission, a U.S. district court issued a contempt ruling against promoters of credit repair, debt relief, and food stamp services who violated a 2010 settlement with the FTC. The court ordered the defendants to pay for refunds to consumers they harmed, in violation of the court order. The court also modified the original ... Read More »

                              Debt Advice and Debt Help Less Needed Survey Shows

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                              A survey by Bankrate.com that was conducted at the beginning of February, 2012, which found people are feeling more confident about their financial standing. That’s good news for a rebounding economy. Bad news for debt advice providers. The most shocking figure for me, in a positive way, was that more than 70 percent report having more in savings than credit ... Read More »

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