Article in the Washington Post: Last week, Attorney General Loretta E. Lynch announced that five major banks were pleading guilty to criminal charges for what she described as a “brazen display of collusion” to manipulate the currency markets. Related Post Big Banks Profit by Falsely Reporting Bankrupt Deb… Citigroup to Pay Fannie Mae $968M for […]
Consumers have protections from their creditors, but consumers also have liability to their creditors. Knowing your rights and obligations is the best way to make informed decisions.
Announcement from the Consumer Financial Protection Bureau: WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) is launching a public inquiry into student loan servicing practices that can make paying back loans a stressful or harmful process for borrowers. Related Post Fed. Student Loans Able to Garnish Social Security Student Loan Load Kills Entrepreneurism […]
I highly recommend this great article in the New York Times about bankruptcy and the elderly. Everyone should understand the issues related to protecting your own or your parents’ hard earned retirement funds when faced with a financial crisis. Related Post Reverse Mortgages & Their Pitfalls
According to an article in the New York Times, Bank of America and JP Morgan Chase are finally agreeing to properly identify debts that were discharged in bankruptcy. Related Post What is a Zombie Debt? Banks Are Subverting Bankru… Citigroup to Pay Fannie Mae $968M for Loans New Round of Defaults of Mortgages in 2015 […]
Ten years after the passage of the “new” bankruptcy law we find a new class of Americans “the permanently insolvent”. You won’t find reference to this group in any financial magazine. But, hundreds of thousands of Americans are in a position of being hounded mercilessly by debt collectors, but unable to afford to file for […]
Yet another loan workout or modification scam. I am disgusted by the number of calls we receive every week detailing a company or lawyer who takes someone’s hard earned money and fails to deliver on their promise to modify the home mortgage.
I just received an e-mail from a gentleman who filed a chapter 13 bankruptcy, but later decided to dismiss his bankruptcy. He was wondering if the Bankruptcy Court could instruct the credit reporting agency to remove the bankruptcy from his credit report. Unfortunately, the answer is an absolute and resounding “NO”. A bankruptcy will stay […]
Housing counselors can provide advice on buying a home, renting, defaults, foreclosures, and credit issues. Advice from housing counselors can be provided at little or no cost to consumers. Related Post The Seamy World of Debt Collecting Flagstar Bank to Pay Homeowners 27.5 Million For I… CFPB vs Morgan Drexen – fraudulent debt R… CFPB […]