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Scam

GAO Takes Closer Look at Home Loan Modification Scams

The Government Accountability Office (GAO) comprised a report, Homeownership Preservation: Federal Efforts to Combat Foreclosure Rescue Schemes Are Under Way, but Improved Planning Elements Could Enhance Progress, based on “information available to federal and state agencies and nonprofit organizations, such as consumer complaints and the number of enforcement actions.” The report revealed two predominant schemes in this day and age ... Read More »

    Fishing for Suckers. Easy Money. How to Find People Willing to Part With Their Money.

    This little gem is for all the people that think scams, suckers, flimflams, and cons are something recently invented. They most certainly are not. Here is an interesting book from 1916 titled: From the preface: There is an almost universal desire in all of us to have ”lots of money.” The desire to get it easily and quickly has afforded ... Read More »

      Federal Grants for Debt Relief – It’s a Scam. Here’s Why.

      Yet another video has surfaced trying to make people believe there are government grants to get out of debt. Under the title of “Obama’s New Government Grants for Debt Relief” the video gives viewers the impression there is free money from the government available to help consumers pay off debt and the money does not have to be paid back. ... Read More »

        eBay Debt Settlement and Credit Repair for Less Than $1

        eBay Debt Settlement

        Does anyone believe this advertising copy or the fact you can get rid of 80% of your debt and have it removed from your credit report for $1? Ah but wait, the $0.99 item actually costs $4,000. A classic need for regulation. Click Image for Larger View. — Only pay 20% of your charge-off and collection accounts. We will go ... Read More »

          CPN and Dormant Social Security Numbers, Another Scam

          Ready to Collapse

          The Independent Mail out of Anderson, South Carolina is reporting that the CPN scam I previously wrote about, CPN – Credit Profile Number / Credit Privacy Number – Craigslist Scam to Watch Out For, is still chugging along. The numbers are usually in the name of young children who have no credit history but can also be numbers once assigned ... Read More »

            Bogus ‘Obama Mom’ Grants Lure Students

            Ready to Collapse

            by Sharona Coutts ProPublica, July 23, 10:34 a.m. July 26: This story has been corrected. Listen to Marketplace’s version of this story. After being laid off from her job as a high school teacher in Dayton, Ohio, Nicole Massey decided to go back to college. For months, she scoured the Web for ways to fund her tuition, while supporting her ... Read More »

              Apparently All Debts Are Going to Be Cancelled on July 11, 2010

              Ready to Collapse

              You can’t make this shit up. I’ll let the video speak for itself. What is that sound in the background? It sounds like someone peddling a bike to power the computer. Oh yes, it’s not true. Whatever you do don’t stop paying your debts on July 11, 2010. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Read More »

                FTC Slams the Lid Down on International Identity Theft Ring Hitting Credit and Debit Cards

                At the request of the Federal Trade Commission, a federal court has halted an elaborate international scheme that used identity theft to place more than $10 million in bogus charges on consumers’ credit and debit cards, pending a trial. More than a million consumers were hit with one-time charges of $10 or less, and their payments were routed through dummy ... Read More »

                  Cease and Desist Order Against Vehicle Service Contract Marketers. SafeData Management Services, Consumer Direct Warranty Services, Warranty Administration Services, Warranty Administrative Solutions.

                  California Insurance Commissioner Steve Poizner today filed a cease and desist order against two California men and several corporations for allegedly operating unlicensed insurance companies and using deceptive and illegal telemarketing. Robert Lewis Chapman, James C. Sletner and several corporations they own and manage, including SafeData Management Services, Inc., d.b.a. Consumer Direct Warranty Services, Warranty Administration Services, Inc., and Warranty ... Read More »

                    Credit Repair Boss Steals Nearly a Million Dollars from Best Buy

                    In 2006, Joseph A. Graziola, III was charged by the Federal Trade Commission for his fraudulent credit repair activities under his company Bad Credit B Gone. This case ended with a $322,047 judgment against Graziola. Bad Debt B Gone was nailed for making the same old stupid and fraudulent promises of removing accurate but negative items from credit reports. This ... Read More »

                      More Arrests in Mortgage Refinance Scam in Calabasas, California

                      Ready to Collapse

                      This is an update on a previous article, Three Mortgage Brokers Arrested in Handcuffs from Mortgage Refinance Scam. In a continuing probe into a defunct Southern California mortgage brokerage, Attorney General Edmund G. Brown Jr. today announced the arrests of president and co-owner Sean McConville and two associates who used “deceptive promises and forged documents” to steal almost $1 million ... Read More »

                        Jewelry Store and Pawnshop Owner Charged With Running Ponzi Scheme

                        Yesterday in Miami, Luis Felipe Perez was sued by the Securities and Exchange Commission for defrauding primarily Hispanic consumers by investing money for fixed returns. From 2006 until June 2009, Perez raised approximately $40 million in a Ponzi scheme affecting approximately 35 South Florida investors, many of whom were Hispanic. Using personal and family relationships while boasting of a successful ... Read More »

                          Do It Yourself Guide to Credit Reports: 10 Ways to Improve Your Credit

                          Ready to Collapse

                          So your credit’s not so hot. A few late payments, maybe an account or two that went to collections. What’s the big deal? As you’ve probably found out, it may be a very big deal. You’ve probably already been turned down for the best credit cards and maybe you’ve had trouble getting a car loan. Perhaps you’ve even put off ... Read More »

                            Breaking Down the Misleading and Deceptive Financial Sales Pitch From the Get Real With Dave Burke Radio Show

                            I admit, using the words misleading and deceptive is pretty strong language to use to describe a radio show. In this case it is the “Get Real With Dave” Dave Burke radio show. Burke has been on the air buying time for at least a couple of years. Until May, 2010 he was pitching his radio shows as “Real Talk ... Read More »

                              Construction Company Avoids Having Their Bank Account Artificially Stimulated

                              Ready to Collapse

                              A Nebraska construction company avoided being scammed out of thousands of dollars, thanks to the help of its bank. The company, Midcon Construction Inc., received a letter April 20 that appeared to be from the U.S. Department of Transportation. The letter requested the company provide financial information to be eligible for procurement. The employee faxed Midcon’s bank account number and ... Read More »

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