Consumers have protections from their creditors, but consumers also have liability to their creditors. Knowing your rights and obligations is the best way to make informed decisions.

Student Loan Debt Mounting Daily

Query from a new doctor: I am a newly graduated medical professional and single mom. In the past six months I have earned more than 80K. I think this disqualifies me from Chapter 7. Even though I make six figures, I have A TON of student loans (private and federal). When I combine rent, childcare, […]

IRS Assigns Collection of Back Taxes to Outside Companies

The IRS indicates it will give taxpayers and their representative written notice that the accounts are being transferred to the private collection agencies. The agencies are to send a second, separate letter to the taxpayer and their representative confirming this transfer.

CItiBank Deceives Student Loan Borrowers

11/22/17 – The Consumer Financial Protection Bureau (CFPB) took action against Citibank, N.A. for student loan servicing failures that harmed borrowers. . Specifically, the Bureau found that Citibank: Citibank misled borrowers into believing that they were not eligible for a valuable tax deduction on interest paid on certain student loans. The company also incorrectly charged […]

Bankruptcy of Seniors Increasing – A Good Option for Many

According to an article in Forbes, the 65+ demographic now makes up a higher percentage of bankruptcy filers than it did a decade ago. Filing for bankruptcy is seen by many seniors as a social stigma.  Some live in a nightmare where they are forced to choose between paying a credit card or buying food; […]

Beware Consumers No Longer Protected, Big Business Wins Again

Reuters reports that Richard Cordray, director of the Consumer Financial Protection Bureau, will step down at the end of the month.  Large companies (banks, auto finances, pay day loans and student loans, to name a very few) are ecstatic because this opens the door for Trump to nominate a CFPB head who will go easier […]

Diane Receives Gold Client Award

Announcement from Martindale-Hubbell: your clients think you are wonderful and so do we! Because your clients have highly recommended you, we are thrilled to award you our new Gold Client Champion award!

Reverse Mortgage Nightmare – Why Seniors Are Losing Their Homes

The problem, say advocates, is that many senior homeowners don’t understand the fine print in a reverse mortgage. Some wrongly assume the lender will pay the taxes and insurance. But fall behind on those payments or fail to maintain the home, and the lender can foreclose. The surviving spouse is also subject to foreclosure if […]

Bank of America Holds Family Hostage According to Judge

October 19, 2017 – Article posted in Bloomberg.com. Bank of America seems to think they can bully a bankruptcy judge,  like they did a California couple in a nightmare foreclosure, but the judge is not standing for it.  For several months Bank of America attorneys have attempted to convince U.S. Bankruptcy Judge Christopher Klein to […]

FDAA Cheated Consumers, Sued for Fraud & Misleading Clients

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.

STOP PAYDAY LOAN DEBT TRAPS – CFPB NEW RULE

Payday and title loan traps October 5, 2017 The Consumer Financial Protection Bureau (CFPB) has developed a new rule which has common-sense protections cover loans that require consumers to repay all or most of the debt at once, including payday loans, auto title loans, deposit advance products, and longer-term loans with balloon payments.