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Student Loans & Bankruptcy – Interview with Diane Drain and Bobby Zavala

Debtors Abused by the Bankruptcy System

Bad, lazy or greedy attorneys fail to warn clients about the problems they could face in bankruptcy. People in financial distress look to attorneys for help and guidance.  They assume their attorneys care more about them than about the attorney’s bank account.

installment loan

Supreme Court – Statute of Limitations under FDCPA

Holding: Statute of limitations begins to run when the alleged FDCPA violation occurs, not when the violation is discovered.

OCWEN/US Bank fined $3 million for reprehensible conduct for attempted wrongful foreclosure

Jury punishes OCWEN/U.S. Bank National for atrocious record-keeping (this is not the first time OCWEN has been exposed for intentional malice) Ms. Saccameno filed a chapter 13 bankruptcy to save her home.  She followed the chapter 13 plan and brought the mortgage current, ultimately receiving her hard-earned discharge.  Life should have been great, but OCWEN/U.S. […]

debt relief

Mortgage Law Group to pay $59 million-scammed consumers

$59 million dollar judgment for deliberately scheming to evade the law and cause harm to their clients According to an article in news.bloomberglaw.com, 11/6/19, Consumer Financial Protection Bureau “CFPB” won a $59 Million dollar judgment (restitution and civil penalties) against The Mortgage Law Group, LLP, Consumer First Legal Group, LLC, Thomas G. Macey, Jeffery J. […]

payday loan

5 Signs an Online Loan is a Debt Trap

The goal of a predatory loan (such as payday loans) is to trap the borrower in a nightmare of never ending debt.  The lenders know that no one is watching or, in some cases, cares that the poor are prayed upon by these unscrupulous lenders.

installment loan

Trump Removes Interest Rate Limits and Sacrifices the Consumer

New rule removes interest rate limits on subprime and payday lenders According to an article in Credit Slips, posted by Adam Levitin, the Trump administration has just proposed a rule that declares open season on consumers for subprime lenders. The Office of Comptroller of the Currency and the Federal Deposit Insurance Corporation have released parallel […]

How to Determine Debt Collection Scam

Dealing with debt collection issues can be challenging—especially when you’re not sure if the person contacting you is a legitimate debt collector or someone trying to scam you.

installment loan

How Terrible is an Online Installment Loan?

Because of scams payday loans are on the way out, but installment loans have taken their place Payday loans usually have a very short period to repay – typically a lump sum payment in a few weeks. The interest rates are sometimes upwards of 700-800%.  Many times the borrower has to take out another loan […]