Who knew that I was a leader in providing knowledge to others (now called “Democratizing Knowledge)!! An article on Wired, Natalie Chyi, focuses a light on how COVID-19 has changed the prospective of on sharing information. Titled The Coronavirus is Democratizing Knowledge. The sub-title is: “Despite toxic misinformation, the pandemic has empowered us to become […]
Payday loans, title loans and other usury loans. A discussion about greed, abuse and general human corruption.
Lead Express, Harvest Moon Financial and others repeated drew interest-only charges, leaving consumers to pay more than promised May 22, 2020 – The Federal Trade Commission (FTC) has charged Lead Express, Harvest Moon Financial, Gentle Breeze Online, and Green Stream Lending with deceiving its customers by overcharging millions of dollars and repeatedly withdrawing money from […]
When someone files for bankruptcy they can keep certain things that are “exempt”. Stay with me as I explain this process. Every state has a list of items that a creditor cannot seize. Those items are referred to as “exempt property“. This protection is the same for everyone in that state, even if they file […]
March 27, 2020 a new law (CARES Act) was passed which gave funds to everyone in order to pay basic necessities (such as food, rent, gas). Congress forgot to protect those funds from your creditors or your bank. When Congress passed the CARES Act, they were smart enough to protect the stimulus funds from state […]
LAWS THAT PROTECT THE BORROWER – UNTIL THEY DON’T. DEBT COLLECTORS TRICK CONSUMERS INTO BRINGING DEAD DEBTS BACK TO LIFE. There are legal protections for the consumer if a creditor does not take steps to collect a debt in a certain period of time – referred to as the statute of limitations (in Arizona, depending […]
The 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.
New rule removes interest rate limits on subprime and payday lenders According to an article in Credit Slips, posted by Adam Levitin, the Trump administration has just proposed a rule that declares open season on consumers for subprime lenders. The Office of Comptroller of the Currency and the Federal Deposit Insurance Corporation have released parallel […]
Dealing 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.
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 […]
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 […]