Debt in America
National Consumer Law Center Releases Report on Debt Collection Abuses
BOSTON — Debt companies pursuing consumers with a small army of collectors have swamped small claims courts with lawsuits and left a trail of abuses that, in 2009, led consumers to file more than 120,000 complaints with federal regulators. “The Debt Machine: How the Collection Industry Hounds Consumers and Overwhelms Courts,” released today by the [...]
Read Full Post | Make a Comment ( None so far )Friedman & Wexler – Debt Collector Shuts Down
Friedman & Wexler pursued students who did not pay off their loans on time, car buyers who missed payments and Chicago residents who were late with their water bills. Lately, though, the Chicago law firm has been accused of not paying its own bills. Friedman & Wexler is embroiled in several lawsuits with former clients, [...]
Read Full Post | Make a Comment ( None so far )Judge Rules Collection Letterhead Can be an FDCPA Violation
A federal magistrate judge ruled this week that the letterhead on collection letters cannot be from a law firm unless an attorney has reviewed the file and the firm is truly poised to file a lawsuit. U.S. Magistrate Judge Andrew J. Smyser, of the Middle District of Pennsylvania, ruled that two collection letters from a [...]
Read Full Post | Make a Comment ( None so far )Debt Collection Abuse Targets Low Income Families and People of Color
According to a new report from The Legal Aid Society, MFY Legal Services Inc, debt buying companies use systematic debt collection abuses that target lower-income New Yorkers and people of color. The report shows that debt buyers in New York habitually violate New York laws by filing meritless lawsuits against low income New Yorkers without [...]
Read Full Post | Make a Comment ( None so far )2009 Stats on Debt Collection Harassment Complaints
Consumers filed nearly 120,000 complaints against third party debt collection agencies and creditor collection operations in 2009, according to a recent report from the Federal Trade Commission, the accounts receivable management industry’s chief regulator. Of these 120,000 complaints, the most common complaint making up 21% of the total were related to identity theft and following [...]
Read Full Post | Make a Comment ( None so far )Pros of Debt Settlement
Debt settlement can be a very effective strategy for paying off credit card debts. It is not the right solution for everyone but Debt Help Lawyers offers a free case review and will let you know if Debt Settlement is right for you.
Read Full Post | Make a Comment ( 1 so far )Types of Debt Relief Programs
The process of getting into debt is simple for most consumers. From credit cards to auto loans, student loans to splurge purchases, a mountain of debt can grow quickly. Unfortunately, getting out of debt can be a daunting challenge for consumers across the country. Depending on your personal financial situation, there is a debt relief [...]
Read Full Post | Make a Comment ( None so far )Control Your Credit Card Debt
It’s a common sight to see people pulling out plastic to pay for everything from groceries to gasoline to movie rentals. All it takes is a quick swipe of the card through a little electronic box and a signature. However, the convenience of using credit cards can lead to a false feeling of financial security-at [...]
Read Full Post | Make a Comment ( None so far )Statistics about Consumer Debt
The latest statistics from the Federal Reserve indicate that the total amount of consumer debt outstanding remained fairly steady in 2009. In case you’re wondering the total amount of consumer debt in the United States stands at nearly $2.5 trillion dollars – and based on the latest Census statistics, that works out to be nearly [...]
Read Full Post | Make a Comment ( None so far )Mortgage Refinancing to Avoid Foreclosure
The HOPE for Homeowners Act helps owners at risk of foreclosure to refinance their mortgages. In July 2008, the federal HOPE for Homeowners Act was enacted. This Act created a program designed to help homeowners who are considered to be at risk for foreclosure. Homeowners who qualify will be able to refinance their currently unaffordable [...]
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