Credit and Debt Blog

(Alexander from Pennsylvania) What is an approximate fee to take a credit counseling course as a requirement to file for bankruptcy?

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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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(Rolf from Florida) Today I signed a debt settlement agreement on the internet, THEN read about the pitfalls. How can I get out of the agreement before any payments are autmatically withdrawn?

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(Tomi from Texas) I have paid off all creditors, original and collection agencies, based on info on all 3 credit bureaus. Will the 7 year time limit start all over again now that I have paid in full all my bad debt?

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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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(George from Indiana) Do most banks and credit unions front negotiated settlement pay offs with a substantial down payment or are they not looking to attract this kind of business? In other words are the ones that will do a settlement loan hard to find?

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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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The struggling economy has made debt settlement is a booming industry. According to New York Attorney General, it is a rogue industry. If you are bound and determine to utilize one of those services, how do you know which debt settlement company is the best?

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(Ruth from Maryland) I signed up with a debt settlement company in Jan 2009. I have settled 90% of my debt myself and want to get back my $11,000 from the company.Do I have any legal recourse? I am 65 years old and this is the first time this has happened in my family.

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