Credit reports falsely lead the consumer into believing information on the reports is accurate, or that a creditor is required to make sure the data on the credit report is accurate.

Discharge vs Automatic Stay and Credit Reporting

The Fair Credit Reporting Act “FCRA” and the Bankruptcy Code The Automatic Stay v. the Bankruptcy Discharge The Fair Credit Reporting Act “FCRA” and the Bankruptcy Code deal with debt differently and this difference can become confusing for everyone, including experienced bankruptcy attorneys.  For instance, the legal status of a debt changes as a bankruptcy moves […]

Help – My Credit Score is Destroying My Life

There is a fairy tale that a good credit score will get you a better life. We know that most fairy tales are fables designed to teach children a healthy respect for rules and society’s expectation.  Some fairy tales were written to scare children to stay away from “bad places”, while others teach children to […]

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.

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 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 […]

12 Million Consumer Credit Scores Raised July 1, 2017

New policy governing credit reporting criteria. Photo by CafeCredit under CC 2.0 Starting July 1, 2017, the three nationwide consumer reporting agencies, Equifax, Experian and TransUnion, are starting a new policy that will raise about 12 million consumers’ credit scores as much as 10 points.  This could mean the difference in qualifying for a better […]

Credit Repair Scams – $2 Million for Misleading Consumers & Illegal Fees

CREDIT REPAIR SCAMS – COMPANIES SUED FOR CHARGING ILLEGAL FEES AND MISLEADING CONSUMERS The Consumer Financial Protection Bureau (CFPB), June 27, 2017, filed two complaints and proposed final judgments in federal court against Prime Credit, LLC, IMC Capital, LLC, Commercial Credit Consultants (Accurise), Blake Johnson, Eric Schlegel, Park View Law, fka as Prime Law Experts, […]

Physical and financial abuse go together, by Prof. Andrea Littwin

Study finds domestic violence, ‘coerced debt’ often go together The following is an excerpt from a post by GreenPath regarding an study about the tie between physical abuse and financial abuse, by Susan Ladika/CreditCards.comm 26 September 2012 Abusers take control of their victims by saddling them with unwanted debt (credit cards, buying vehicles, houses or […]

How to Rebuild Your Credit – guest post

How to Rebuild Your Credit Are you overwhelmed by financial challenges?  Do you want to rebuild your credit?  Many people try to solve their problems in the privacy of their homes, rather than asking for guidance.  Fortunately, the Internet allows them to research answers to their financial questions, without exposing their situation to neighbors, co-workers […]

Millions could get boost in credit score this summer

Credit Reports to Exclude Certain Negative Information, Boosting FICO Credit Scores, by AnnaMaria Andriotis at The Wall Street Journal As a result of increasing pressure from Consumer Financial Protection Bureau and other regulatory concerns, the three major credit-reporting agencies are changing their standards for two pieces of negative information: tax liens and civil judgments.