Payday loans, title loans and other usury loans. A discussion about greed, abuse and general human corruption.

Can My Creditors or Bank Take My Stimulus Money?

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 […]

Debt Collectors Trick You into Bringing Old Debts Back to Life

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 […]

5 Signs an Online Loan is a Debt Trap

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.

Trump Removes Interest Rate Limits and Sacrifices the Consumer

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 […]

How to Determine Debt Collection Scam

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.

How Terrible is an Online Installment Loan?

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 […]

Finally, New Bankruptcy Protection for Disabled Vets

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 […]

Seniors – A Guide to Getting Help with Debt

Debt 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

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.

Payday lender or loan shark: Is there really a difference?

Article By Eric Heisig, cleveland.com CLEVELAND, Ohio (6/2018) — The term “loan shark” might bring to mind a scene in a movie where a gangster takes a crowbar to the kneecap of a down-on-his-luck gambler who can’t make good on repayment of a loan. The term “payday lender” might bring to mind an image of […]