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.

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 […]

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 […]

You or a close neighbor has debt in collection

More than One in Four Consumers Have a Debt in Collection with a Debt Collector 7/18/19 The Consumer Financial Protection Bureau (CFPB) just released a report that found that more than one in four consumers with a credit report have at least one debt in collection by third-party debt collectors.

Illegal Credit Repair Schemes – Prime Credit & Prime Law Experts

CFPB TAKES ACTION AGAINST CREDIT REPAIR COMPANIES FOR CHARGING ILLEGAL FEES AND MISLEADING CONSUMERS Companies and Individuals to Pay More Than $2 Million in Penalties and Relinquished Funds 6/27/17 – The Consumer Financial Protection Bureau (CFPB) filed two complaints and proposed final judgments in federal court against four California-based credit repair companies and three individuals […]

Deceptive Marketing – Lexington Law

Lexington Law and CreditRepair.com 5/2/19 – The Consumer Financial Protection Bureau (Bureau) filed a complaint for deceptive and abusive telemarketing acts or practices against PGX Holdings Inc. and subsidiaries Progrexion Marketing Inc., Progrexion Teleservices Inc., eFolks LLC, and CreditRepair.com Inc.; and against John C. Heath, Attorney at Law PLLC, which does business as Lexington Law.

Fake Credit Repair Scheme – FTC Cracking Down

June 21, 2019 – At the Federal Trade Commission’s request, a federal court has temporarily halted and frozen the assets of Grand Teton Professionals, an alleged credit repair scheme that charged illegal upfront fees and falsely claimed to repair consumers’ credit.

Debt Collectors Cannot Yell, Curse or Threaten You

There are Rules Governing Debt Collectors Debtor collectors are not allowed to call you before 8 am or after 9 pm (your time zone, not the caller’s).  They cannot yell, swear, use crude language or threaten you in any way or do anything else that could be seen as harassment.  Nor can they threaten to […]

What is Debt Settlement?

Reprint from Consumer Affairs Desperate consumers enter into these agreements without fully understanding how they work. Generally, debt relief or debt settlement companies offer a service to debt-burdened consumers to intervene with creditors–in most cases credit card companies–and secure a lower payoff amount. Often, desperate consumers enter into these agreements without fully understanding how they […]

Freedom Debt Relief Pays $25 Million for Violating Federal Law

UPDATE: July 9, 2019 Freedom Debt Relief agrees to pay $20 million in restitution and $5 million in civil penalty to settle the claims for deception, abusive actions, misrepresentation, failure to disclose.

Discharge vs Automatic Stay and Credit Reporting

The Automatic Stay v. the Bankruptcy Discharge The Fair Credit Reporting Act “FCRA” and the Bankruptcy Code deal with debt differently and this difference can become confusing for everyone, including experienced bankruptcy attorneys.  For instance, the legal status of a debt changes as a bankruptcy moves to conclusion.