Listen to the Podcast You can subscribe to my podcast on any of these sites below. Easiest way to listen – Say “Hey Siri play Get Out of Debt Guy Podcast” or “Hey Alexa play Get Out of Debt Guy Podcast” Easiest way to subscribe – Say “Hey Siri …
Some companies love to sell debt validation as a miracle solution—but is it really? In this episode, Damon Day and I pull back the curtain on what debt validation actually is, what it doesn’t do, and why some sales pitches make it sound way better than it really is. If you’re considering debt validation to …
Originally published December 11, 2009 Consumer debt is a world of double standards. On one hand you have advocates screaming about the evils of debt settlements or that groups that charge people for professional help to do debt settlements are ripping off consumers because settling debts is something that anyone can do. Don’t get me …
While much of the debt collection world is straightforward and, quite honestly, a little boring, some people in the industry treat it like a free-for-all. “There are widespread attempts to add charges to debts that aren’t legal. Excess interest is something we’ve encountered quite frequently,” said Daniel Edelman, consumer law attorney, founder and partner at …
Year after year, federal regulators get more complaints about debt collection than any other industry. Now the griping has prompted an overhaul of collection rules for the first time in decades. A frequent refrain is that collectors sling harsh threats demanding payment on poorly documented debts. Yolanda Banda, an nurse assistant in California, is …
Agency’s Activities over the Past Year Detailed in Annual Summary Provided to CFPB Over the past year, the Federal Trade Commission has continued its vigorous work on behalf of U.S. consumers suffering from unlawful debt collection practices, including bringing law enforcement actions against abusive and fraudulent operations, conducting education and public outreach initiatives, and implementing …
“Dear Michael, Defaulted on a motorhome. It was repossessed and sold at auction. The balance owed after the sale was assigned to a collector. That collector and I made an agreement (contract?) that I would pay a certain amount each month until the debt was satisfied. I have made those payments faithfully for over 2 …
The Consumer Financial Protection Bureau (CFPB) has put out a new document with an extensive amount of information that paints the debt collection industry in a new light. One fact I found exceedingly interesting is the percentages of debts the debt collection industry handles, “medical and other health-related debts (36%), credit card debts (20%), telecom …
Man I get so sick of asshole debt collectors who give professional debt collectors a bad name. Here we go again with another crop of Southern California fakers scaring consumers to extract money. But you want to know the truth about why scammers operate like these jerks, because it scares money out of people. It …
In today’s world, the term “aggressive” has positive connotations. When hiring an attorney, for example, no one would want a passive advocate for their claims. People want an aggressive lawyer. Similarly, in business, companies want aggressive salespeople; and sport teams want aggressive players. No wonder, I often have clients that try to excuse away egregious …