Anyone who has had or is having financial trouble has experienced the nightmare of the collection companies. Many ignore the law (Fair Debt Collection Practices Act) by calling before 8:00 am or after 9:00 pm, plus numerous other acts done for the sole purpose of bullying the consumer.
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Why is this “ground breaking”? This is the first time that payment processors are held to the same standard of responsibility as the debt collectors. Related Post Debt Collectors Could Face New Rules Is Your College Offering Checking & Pre-paid … 20% of Consumers Have Credit Reporting Errors New Mortgage Lending Rules – CFPB Protecting… […]
According to Bloomberg News: Fannie Mae will begin bulk auctions of mortgages, including some sales targeted for non-profit groups and small investors, as Fannie Mae moves to reduce the number of non-performing loans “sour mortgages” on its books. Related Post Citigroup to Pay Fannie Mae $968M for Loans HSBC sued by NY Attorney General for […]
Many people ask whether or not a student loan company or SBA creditor can garnish their wages without first obtaining a court order. The answer is “yes”. Related Post What To Do If Your Wages Are Being Garnished
Consumer Financial Protection Bureau (CFPB) filed its lawsuit in August 2013, against debt-relief services company Morgan Drexen. The CFPB alleges, among other things, that Morgan Drexen deceived consumers into paying unlawful up-front fees for debt relief services by disguising them as fees related to “sham” bankruptcy services. According to an article by Joanna M. Zdanys […]
ILLEGAL MORTGAGE SCHEMES: The Consumer Financial Protection Bureau (CFPB) and the Maryland Attorney General took action against Wells Fargo and JPMorgan Chase for an illegal marketing-services-kickback scheme they participated in with Genuine Title, a now-defunct title company. Related Post CFPB Launches Massive Lawsuit – Debt Collect… Debt Collectors Could Face New Rules Court Finds Wells […]