Category Archives: Debt and Credit

Online Payday Loans ??

Online credit is problem enough, payday loans are worse, but, put them together, getting an online payday loan? Watch out! What Is Wrong With Getting An Online Payday Loan? Well, let me count the ways. The interest rate: U.S. payday lending industry that provides the typically 300%-to-500%-interest-rate unsecured loans Trying to find the S.O.B.s ifContinue Reading

Banksters Get Off – Again

I highly recommend the movie, The Big Short, (which should have won Best Picture at the Oscars earlier this year) which tells the story of how Goldman Sachs and the rest of the Banksters blew up thereal estate bubble whose collapse precipitated the Great Recession. It is Goldman Sachs world, we just live in it.Continue Reading

Zombie Debt Collectors – Don’t Care

Zombie debt

Zombie Debt Collectors don’t care. About what? About the law! Any of the laws.  Bankruptcy law, federal debt collection law, state consumer laws, you name it. I keep blogging about zombie debt collectors, and, well, they keep providing new blogging material. Up this week, a zombie debt collector that simply MADE UP THAT IT WASContinue Reading

Bankruptcy And Debt Relief Update

In spite of what the the creditors tell Congress, bankruptcy filings are not caused by bad people or greedy bankruptcy lawyers. Bankruptcy filings directly co-relate with the amount of debt outstanding.  No one forces those banks to send out billions of pre-approved credit card applications. Melanie Anzidei of the North Jersey web site reports: AContinue Reading

Bankruptcy (Not) News: Banks Still Winning

Sarah Lazare wrote this story a while ago for the Common Dreams website: Holder’s six years of service under the administration of President Barack Obama were defined by his refusal to criminally prosecute any of the financial institutions that drove the 2008 financial meltdown and subsequent recession. “If we had a more aggressive media, thisContinue Reading

CPFB And Consumer Rip-Offs

Once debt collector scumbags are forced out  of one way to rip you off, they find another. The CPFB (Consumer Protection Finance Bureau) is helping consumers with all manner of rip off schemes. You may end up like the homeless guy in the picture if you get taken by one of the crooked car titleContinue Reading

Debt Collector Harassment

I have been blogging about student loan servicer harassment on my other site, But they are not the only debt collectors busy harassing and misleading folks. The Consumer Protection Finance Bureau  (CFPB) issues regular reports, and they have been busy whacking errant debt collectors: ►Debt collectors used illegal tactics to contact consumers: Bureau examiners foundContinue Reading

What Happens If My House Is Foreclosed On For Less Than I Owe?

Ran through this scenario for a client caller today.    And, foreclosures are up again nationally. Home worth $320,000, mortgage balance $420,000, and, payment going up.  And house payment scheduled to go up again,  yearly. This mortgage started, as so many troubled mortgages did, in the boom years before the bubble burst in 2008-2009. A tenContinue Reading