FTC Seeks Comment on Changes, Effectiveness of Five FCRA Rules

The Federal Trade Commission is seeking comment on proposed changes that would bring several rules implementing parts of the Fair Credit Reporting Act (FCRA) in line with the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). In separate Notices of Proposed Rule Making (NPRMs), which will be published in the Federal Register shortly, … Read more

Suit Against Debt Management Group Proves My Point

Two things just happened. First, I posted this article about a debt relief mailer. Second, a lawsuit just crossed my desk against Debt Management Group, The Davis Law Group, Brian Davis, Moore Legal Center, and Thomas Moore. The irony is the suit happens to contain a mailer that looks nearly identical to the one in … Read more

Nationwide Debt Direct Hit With Marking Suit

Nationwide Debt Direct recently had a state lawsuit moved to federal court and it’s interesting because it’s yet another example of a suit brought over marketing. This case was filed by Brian Garvine ([email protected]) and Robert Parker ([email protected]), both Ohio attorneys. The suit alleges Nationwide Debt Direct “unlawfully obtained Plaintiffs consumer reports and used them … Read more

Having Problems With a Debt Collector. Affordable Legal Help Available Here.

One of the common requests I hear from readers is for legal help with issues surrounding their debt problems when they feel they’ve been hurt or abused by a debt collector. In the past I’ve always referred people to the National Association of Consumer Advocates and the GetOutOfDebt.org legal friends and protectors to find an … Read more

Credit Report Data Broker Leaks a Concern for FTC

The Federal Trade Commission sent letters to ten data broker companies warning that their practices could violate the Fair Credit Reporting Act (FCRA) after a test-shopping operation by the FTC indicated the companies were willing to sell consumer information without abiding by FCRA requirements. The test-shopping operation was part of a worldwide privacy protection effort. … Read more

Debt Collectors and Credit Bureaus to Report to the Consumer Financial Protection Bureau

The CFPB has just announced they will be rolling out new proposed rules that will regulate consumer debt collection and consumer reporting markets. Proposed rules would mark the first time these important markets would be subject to federal supervision. “Our proposed rule would mean that those debt collectors and credit reporting agencies that qualify as … Read more

Does the Wave of Fair Debt Collection Practice Act (FDCPA) Suits Benefit Consumers or Lawyers?

A tipster (send in your tips here) forwarded to me an article about Thomas Lyons, Esq. in Minnesota who was disbarred in 2010 for filing suits under the Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Reporting Act (FCRA). While there is a need for consumers to have recourse in bringing legal suits … Read more

FTC Proposes Changes to Fair Credit Reporting Act

The Federal Trade Commission is proposing revisions to the notices that consumer reporting agencies provide to consumers, and to users and furnishers of credit report information under the Fair Credit Reporting Act (FCRA). The FCRA requires the FTC to publish model notices for several forms that must be provided by consumer reporting agencies. The proposed … Read more

How to Be Financially Successful When You Graduate

Congratulations! You’ve made it through the starving student years and now you’re ready to start a job and earn some real money. You’re probably thinking about all the things you’ll be able to buy, places you’ll go and things you’ll be able to do when those paychecks start rolling in. Not so fast. If you’re … Read more

Insurance Scores: How Your Credit History Affects Your Insurance

What does the information in your credit report have to do with your automobile or homeowner’s insurance? Perhaps more than you think! Many insurance companies these days use insurance scores to help determine eligibility for their policies, evaluate policies for renewal and sometimes to determine rate discounts. Insurance scores are popular with insurance companies because … Read more

Identity Theft: How to Protect Yourself and What to Do If You Are a Victim

Think your money and peace of mind are safe from thieves? Think again. Identity theft is one of the fastest growing types of robbery today. As many as 300,000 people are defrauded each year by crooks using stolen identities. Guess who ends up paying for the millions of dollars that stores and lending institutions lose … Read more

Secret Credit Bureaus You Don’t Know About, But They Know About You

So let me tell you a story about secret credit bureaus that you don’t know about. Most of us have some knowledge about the three major credit bureaus that hold our credit report and credit score. The three biggies are Equifax, Experian and Transunion. But there are more places that hold information about you. Have … Read more