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 reports falsely lead the consumer into believing information on the reports is accurate, or that a creditor is required to make sure the data on the credit report is accurate.
(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.
Settlement Includes fund to help consumers recover from data breach Post from Federal Trade Commission: July 22, 2019 Equifax Inc. has agreed to pay at least $575 million, and potentially up to $700 million, as part of a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau (CFPB), and 50 U.S. states […]
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 […]
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.
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.
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.
We know that most fairy tales are fables designed to teach children a healthy respect for rules and society’s expectation. Some fairy tales were written to scare children to stay away from “bad places”, while others teach children to trust their common sense.
The CFPB alleges that FDAA’s so-called “debt validation” programs violated the law by falsely promising to eliminate consumers’ debts and improve their credit scores in exchange for thousands of dollars in advance fees.
According to an article published in the The Hill – October, 2017 the Senate Banking Committee is going to grill the CEOs of Equifax and Wells Fargo with regards to the “massive financial scandals that have dominated headlines and tarnished their names.”