con artist scam

FDAA Cheated Consumers, Sued for Fraud & Misleading Clients

Sued for Fraud – Federal Debt Assistance Association, LLC and Financial Document Assistance Administration, Inc. “FDAA” 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.

payday loans

STOP PAYDAY LOAN DEBT TRAPS – CFPB NEW RULE

Lenders Must Determine Upfront If Consumers Have the Ability to Repay Loans 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 […]

Anti-Puppy Mill Law Upheld

Article in Journal Sentinel, part of the USA Today Network Chicago’s Anti-Puppy Mill Law Upheld by Appellate Court September 26, 2017 In 2015, a new anti-puppy mill law took effect in Chicago that changed the landscape for pet stores. The law prohibits pet retailers from sourcing animals from anywhere except government run animal shelters, or […]

Wells Fargo and Equifax to be Roasted by Senate

CEOs for Wells Fargo and Equifax to be roasted: 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.”

debt settlement

Debt settlement a bad alternative to bankruptcy

Debt settlement a bad alternative to bankruptcy By Liz Weston NerdWallet.com, Aug 30, 2017 (a summary from South Bend Tribune) Many people believe that hiring a company to settle their debts is better on their credit, will cost them less in the long run and will generally be better than a bankruptcy.  This is what […]

studuent loans

Do Student Loan Debts Die With You?

“This is What Happens to Student Loans When You Die”. The following is a summary of USA Today article. It is important that you know the type of student loan (federal or private), the guarantors of the student loan (parents, etc), and the law of the state where you live.  This article cannot walk you […]

Wells Fargo Discloses More Fraudulent Accounts

Once again the New York Times reports on Wells Fargo’s fraudulent account scandal.  No, this is not the same one from 2016, this is a new one where the bank just “found” more than a million additional unauthorized accounts, raising the total to 3.5 million accounts. “Every time we get one of these announcements, the […]

Why Chapter 13 Bankruptcy Can Be Doomed for Failure

The American Bankruptcy Institute ‘ABI’ released a report addressing the astronomically high failure rate of chapter 13 bankruptcy.  The findings are not surprising for those of us who work in this world, but are shocking for the rest of the consumer community. It is likely that many bankruptcy judges have never had a successful chapter […]

Reverse Mortgage – good or bad idea?

CFPB REPORT WARNS THAT TAKING OUT A REVERSE MORTGAGE LOAN CAN BE AN EXPENSIVE WAY TO MAXIMIZE SOCIAL SECURITY BENEFITS Reprint from The Consumer Financial Protection Bureau (CFPB) (8/24/2017)  CFPB issued a report warning older consumers about taking out a reverse mortgage loan in order to bridge the gap in income while delaying Social Security […]

Student Loans

Tool to Help Navigate Student Loan Repayment Programs

CFPB – new report “Innovation Highlights: Emerging Student Loan Repayment Assistance Programs” Consumer Financial Protection Bureau “CFPB” released a new data finding that nearly half of student loan borrowers leave school owing at least $20,000 – double the number of borrowers a decade ago. The Bureau also found that more borrowers are taking out student […]