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It’s Chapter 7 Bankruptcy for Octomom. Nadya Suleman Files for Bankruptcy Fresh Start.

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Word is that Octomom, Nayda Suleman has filed for bankruptcy protection today. The court documents were not available at the time of this post. But it is reported her filing listed $50,000 in assets against up to $1 million in debt. She gave it a good try to make ends meet but in the end it’s just a tragic story ... Read More »

    Debt Validation Finally Defined. What You Should Ask a Collector or Creditor for to Validate a Debt.

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    So much stuff has been written advising people to get their debts validated. I’ve asked professionals and lawyers all over for a definition of what this actually means and until now, nobody really knew. Was validation of a debt achieved if the lender simply acknowledged an account was present or did it require documentation of all transactions in the account? ... Read More »

      Do You Have a Will? If Not, It’s Time For You to Write Your Will.

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      It’s a subject that none of us want to think about. Whether we’re young and just starting life or older and approaching the end, we don’t want to think about our own death. And, adding money to the mix only makes it worse. But, the truth is that all adults need to think about what will happen to their financial ... Read More »

        Bank President Pleads Guilty to Bank Fraud

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        WASHINGTON, DC – The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) and United States Attorney for the Eastern District of Louisiana Jim Letten today announced that Reginald R. Harper, age 58, of Hammond, Louisiana, the former president and chief executive officer of First Community Bank of Hammond, La., pleaded guilty yesterday to one count ... Read More »

          Bank of America Credit Card Debt Settlement Advice and Instructions

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          If you’re facing a legitimate financial hardship and can’t make the minimum payments on your Bank of America (or FIA Card Services) credit card account then one potential solution is to negotiate a lump-sum settlement for less the balance owed. If you’re unfamiliar with debt settlement, you’re probably wondering how someone who can’t make their monthly payments would have the ... Read More »

            Avoid Free-BestBuy.com Spam Text Message

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            Readers are reporting to me a new spam message out today that promotes a new site free-bestbuy.com. This spam message is designed to look like a message from BestBuy.com. It’s not. Most likely people that respond will be charged for a text message, Just as people have reported being charged $9.99 a month after receiving messages from: Short Code: 45244 ... Read More »

              Don’t Be Surprised to Be Asked to Pay Up Before Getting Care in Emergency Room

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              Accretive Health, one of the largest collectors of delinquent medical debts has become a target of criticism and regulator attention recently. It is alleged that debt collectors, appearing to be hospital employees, have been confronting sick and injured patients, and demanding payment before treatment. The practice of embedding debt collectors in some hospitals came to lift in hundreds of company ... Read More »

                Want to Live Like Daniel Suelo and Quit Money Then Just Don’t Worry About Having Credit

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                People frequently say to me that after a financial problem they want to avoid credit all together and not worry about rebuilding their credit, even though it’s so easy to do. The reason they avoid credit is misplaced. It’s not the credit or having good credit that caused the pain they may have experienced because of a financial hardship, it ... Read More »

                  Student Loans Getting Shuffled All Over. Leaves Many Confused.

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                  by Marian Wang ProPublica The Department of Education has been transferring large batches of federal student loans to new loan-servicing companies — leaving in the lurch some borrowers who are suddenly encountering problems with their loans, such as payments that are mysteriously adjusted up or down. The switch, which has been going on for months and will ultimately include millions ... Read More »

                    Fake CNBC Site Fools Consumers Into Giving Up Information for Breakout Incomes

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                    A reader sent me in a website to look at It looks like the fake news sites are back up and running in an effort to fool consumers into giving up personal information for yet another sales pitch. This time the site is a total CNBC fake scam site. The site looks legit enough but it’s not CNBC, it is ... Read More »

                      FTC Goes After Another Alleged Collection Enterprise That Threatened Consumers and Offered Debt Reduction Services

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                      The Federal Trade Commission recently filed suit against Pro Credit Group, Brett Fisher, Sanders Legal Group, Sanders Law, Andre Sanders, My Success Track, Consumer Credit Group, Dale Robinson, William Balsamo and First Financial Asset Services. According to the FTC court documents, the defendants operated a common enterprise while engaging in deceptive acts and practices. They used an interrelated network of ... Read More »

                        Sands Tourism – Benjamin & Ryan Holdings Scam – Documentation

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                        The Sands Tourism, “You’ve Won” scam is still going along and people are still falling for it and losing money. Thankfully a wonderful reader has just sent in pictures of some of the marketing material so I can post it and warn you about it. If you ever get a solicitation that you have won money but need to pay ... Read More »

                          OCC Appoints Receiver for Fort Lee Federal Savings Bank

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                          The Office of the Comptroller of the Currency (OCC) yesterday appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for Fort Lee Federal Savings Bank, Fort Lee, New Jersey, a federal savings association. As of December 31, 2011, the institution had approximately $51.9 million in total assets. The OCC acted after finding that the institution had experienced substantial dissipation of ... Read More »

                            Court Provides Background on Edward Cherry Activities in Matter Involving Chase Bank

                            On April 17, 2012 a Delaware court issued an opinion on the case involving Edward Cherry and Chase Bank. This matter also named the following defendants; Laura Hess, Edward T. Kennedy, Eric Silversen, Home Plate Consultants, Self made LLC, The Consumer Law Center of Delray Beach, The Consumer Law Center of Boca Raton BACKGROUND Defendant Cherry engaged in various willful, ... Read More »

                              How Long After Bankruptcy Can I Buy a House?

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                              How long after bankruptcy can I buy a house? Well there is a question that people often want to know. They assume they will not be able to buy a home or get a mortgage after bankruptcy but that’s just not true. The reality is most people that claim you can’t get a mortgage after bankruptcy, don’t know what they ... Read More »

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