[print-me]
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 […]

vehicle

Borrowers Trapped – Defaults on vehicle loans increasing

Vehicle defaults is the next financial crisis (after the mortgage crisis) According to the Wall Street Journal 33% of vehicle loans are upside down (meaning the vehicle is worth less than the debt).  Borrowers trade-in vehicles with existing loans, finance a new vehicle and carry over the debt from the old vehicle.  This results in […]

credit score

How Bankruptcy Helps Your Credit Score

COLLECTION COMPANIES AND CREDITOR LIE TO BORROWERS ABOUT THE IMPACT OF BANKRUPTCY ON THEIR CREDIT A creditor has no right to come into your home… For more than three decades I have heard horror stories spread by collection companies and creditors about bankruptcy and a credit score.  First, always consider the source – collection agents […]

credit

Military Can Obtain Free Credit Monitoring

(reprint from FTC) Starting October 31, 2019, many members of the military will have access to free electronic credit monitoring, which can help them spot identity theft.

Worthless Student Loan Debt Relief – Consolidation & Forgiveness

Never pay upfront for “help” with your student loans According to the Federal Trade Commission (FTC) scammers stole millions from innocent student loan borrowers who were doing their best to workout their student loans.  These sleazes lied to innocent borrowers, saying that for $1,000 upfront, they could permanently reduce or eliminate the monthly payments. Lied […]

Finally, New Bankruptcy Protection for Disabled Vets

Disable Vet’s Income Not Offered Any Protection in Bankruptcy – until now! It only took 15 years, but Congress finally decided that disabled vets should have some of the same protection as those on Social Security. In 2005 Congress changed how those on Social Security would be treated in bankruptcy, but ignored disabled vets. The […]

Seniors and Reverse Mortgage

Seniors – A Guide to Getting Help with Debt

Debt isn’t fun at any age, but it can be especially scary for senior citizens. Seniors normally don’t have regular paychecks coming in, and the bulk of their income may comprise of Social Security checks. They’re often dealing with life changes such as retirement or medical issues. All of the sudden, they have less money […]

Wells Fargo Rips Off Navajo Nation

Wells Fargo Caught in Illegal Actions AGAIN, this time Against Members of the Navajo Nation  “Wells Fargo’s predatory actions defrauded and harmed the Nation. We held Wells Fargo accountable for their actions and we will continue to hold other companies accountable if their business practices do not respect our people—this puts other companies on notice […]

Zombie Debt: collectors tricking consumers

Can a debt come back from the dead?  Yes, it is referred to as a ‘zombie debt’. Most states have ‘statute of limitations‘ which control the creditor’s or collection company’s rights, including whether they can sue on a debt. How is a debt revived? Collection companies will do anything in their power to revive a […]

ITT Rips Off Students – $60 Million Judgment

ITT Accused of Unfair, Deceptive and Abusive Acts or Practices The Consumer Financial Protection Bureau (Bureau) proposes settlement with ITT Educational Services, Inc. — ITT engaged in unfair and abusive practices in connection with its private loan program in violation of the Consumer Financial Protection Act of 2010. ITT Knew Students Could Not Afford and […]