Has an identity theft struck one of your accounts? Try not to panic! But it is important to act fast to minimize the damage. Here’s what you need to do to get your credit and your finances back on track. Place a fraud alert on each of your credit reports. Phone one of the three, […]
consumer rights
Filing a CFPB Complaint
Throughout this website, and several others I contribute to, I suggest people file complaints with the Consumer Financial Protection Bureau (CFPB). I am usually responding to reader comments when I do, so the reason for suggesting filing the complaint is contained in each comment exchange, but only briefly. I want to be sure readers have […]
9 Plead Guilty to $20M Scheme to Defraud Soldiers.
Eight Alabama residents and one Georgia resident pleaded guilty to participating in a scheme in which they stole thousands of identities to file more than 7,000 false tax returns, according to the U.S. Attorney’s Office of the Middle District of Alabama. Over the course of nearly three years, the group defrauded the government of approximately […]
Stress about overwhelming debt, or fear?
I generally begin any debt relief consultation I do with people who reach out to my company in search of help with credit card debt with this question: “What has you reaching out to a perfect stranger? What is going on with you financially”? Then, I shut up and listen. I am sometimes the first person […]
Inaccurate Information on Your Credit Report can Cost You
The credit report topic has been covered well on our web site, but mostly as it applies to people who need some form of debt relief due to a financial hardship. While that is an important topic and a concern for more and more people as a result of our tough economy – what about […]
FDCPA Wants to put an End to Dead Debt, Bogus Collection Fees, and Lawsuits
The Consumers Union, a long standing consumer advocate and watch group, in partnership with East Bay Community Law Center, weighed in with their recommendations for amending the Fair Debt Collection Practices Act (FDCPA). Read the report here: Why Debt Collection Practices and the Debt Buying Industry Need Reform Now. In their “PAST DUE” report, I […]
Debt Collection Industry Insider Starts Petition to Reign in Collection Abuse
Collection industry insider, Bill Bartmann, has started an electronic petition he will submit to Congress where he suggests the following amendments to the Fair Debt Collection Practices Act (FDCPA): We hereby petition Congress to amend the current debt-collection rules by adding the following provisions: Increase the penalty for violations of debt-collection rules from the current […]
Dealing with Capital One in Collections
My experience working with financially-challenged consumers and their creditors nationwide since the economic downturn reflects that virtually every national issuer of credit cards, even larger regional credit unions, have gone as far as they can to assist their struggling account holders. Capital One is an exception to this. How Capital One goes about settling a […]
Debt Settlement and Negotiations – Past, Present, Future
After 10/27/10, virtually all of the companies offering to settle debt for a fee will have to charge those fees based on a contingency. In other words, you pay for the service contingent upon who you hire having successfully negotiated a reduced pay off amount with your creditors that you then accept and fund. Makes […]
Debt Settlement Estimates of Savings, Fees, and Time to Complete
Debt Settlement is a very real option for consumers who are trying to avoid bankruptcy. Unfortunately, the decision to try it is too often made from an emotional perspective. This has, is, and will forever be; the wrong perspective to use in your decision making regarding this particular debt solution. Many people are understandably unsure, […]