Most of the “debt relief agencies” are scams. There is one organization that appears to be worthwhile – National Foundation of Consumer Credit Counseling, or www.NFCC.org.
Mortgage Law Group to pay $59 million-scammed consumers
/in Debt Relief Agencies, Foreclosure, Homeowner bailout, Loan Modification /by Diane Drain$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. […]
5 Signs an Online Loan is a Debt Trap
/in Credit Report, Debt Relief Agencies, Payday and other usury loans /by Diane DrainThe 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.
Deceiving Student Loan Borrowers: Premier Management & Financial Preparation Services
/in Debt Relief Agencies, Student Loans /by Diane DrainCFPB GOES AFTER STUDENT LOAN DEBT RELIEF COMPANIES FOR DECEPTIVE PRACTICES Who is the Consumer Financial Protection Bureau (CFPB) suing? They are: Consumer Advocacy Center Inc., which does business as Premier Student Loan Center; True Count Staffing Inc., also known as SL Account Management; and Prime Consulting LLC, which is known as Financial Preparation Services. […]
How to Determine Debt Collection Scam
/in Collection companies & Debt buyers, Credit Report, Debt Relief Agencies, Payday and other usury loans /by Diane DrainDealing 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.
Seniors – A Guide to Getting Help with Debt
/in Bankruptcy, Debt Relief Agencies, Foreclosure, Homeowners Association, Payday and other usury loans /by Diane DrainDebt 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 […]
You or a close neighbor has debt in collection
/in Collection companies & Debt buyers, Consumer Issues, Debt Relief Agencies, Payday and other usury loans /by BarnesMore 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
/in Collection companies & Debt buyers, Credit Report, Debt Relief Agencies /by Diane DrainCFPB 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
/in Collection companies & Debt buyers, Credit Report, Debt Relief Agencies /by Diane DrainLexington 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
/in Collection companies & Debt buyers, Credit Report, Debt Relief Agencies /by Diane DrainJune 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.
