Credit and Debt Blog

The television commercial claimed they had relationships with car lenders and could cut your payments through loan modification. While I knew the claims were unlikely to be true, I still had to investigate those claims. What I found were patterns of deceptive advertising and outright fraud.

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(Isma from Texas) last year i entered an agreement with ghs solutions. i am being sued by citi bank. i have come up with the money that citi bank will settle with. How do i go about doing away with ghs solutions and if i do that will i lose the money that has already [...]

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If you have ever been charged $35 for the privilege of spending 3 bucks that you don’t have, you understand how frustrating overdraft fees can be. This fall, these fees will be illegal if you haven’t opted in. One bank has decided to set the trend by voluntarily ceasing overdraft fees in advance of the [...]

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Allegro Law LLC and Allegro Financial Services LLC have been shut down permanently as a result of a lawsuit filed by the Alabama Attorney General seven months prior. According to the office of Troy King, Allegro is one of the “largest debt settlement schemes in the country.”

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Minnesota residents can count themselves among the first in the nation to have new protections against the rogue debt settlement industry. A new law that went into effect August 1, 2009 has blocked the upfront fee model favored by debt settlement companies.

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After reading such harsh criticism from Andrew Cuomo, the Attorney General for the State of New York, I decided that I wanted to examine the debt settlement industry to see how accurate his reference of “rogue industry” really was. My findings suggest that clients who sign with debt settlement companies never check to see how [...]

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On Thursday May 7, 2009 New York Attorney General Andrew Cuomo issued subpoenas to 14 debt settlement companies and a law firm. Cuomo is part of a multistate effort to regulate debt settlement companies, which Cuomo says are “offering consumers false hope, charging tremendous fees and leaving them in a worse financial situation.”

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When you are looking for an answer to a very specific question, it may sometimes be difficult to find exactly what you are looking for. That is because your situation is unique, and most other situations that you read about are just not the same as yours. Now you can ask your questions directly.

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Debt settlement companies have thrived on rising defaults on all sorts of consumer debt, especially credit cards and unsecured personal loans. Their profits have been through the roof even though the vast majority of their clients never successfully settle their debts. Newly proposed legislative limits still allow sky-high fees and almost no accountability.

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Debt settlement has become a big business as the number of credit card defaults continues to increase. Debt settlement companies prey on desperate consumers that are tired of harrassing phone calls and threatening letters. What debtors don’t realize is that they end up creating a whole new set of problems when they sign up for [...]

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