Bureau Also Obtains a Temporary Restraining Order to Halt Illegal Operation and Freeze Assets of Operation’s Leaders WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) announced today that it has filed a lawsuit against the ringleaders of a robo-call phantom debt collection operation, their companies, and their service providers.
The Average Credit Score in the U.S
As we’ve observed for several years now, more consumers are scoring 800 or above—19.9% vs. 19.6% just six months earlier. And fewer consumers are scoring below 550. In fact, there’s been a clear pattern of decline in this segment since the low point of the economy in late 2009/early 2010.
Credit Sweep Stragety
Credit sweeps may have worked a few times in the past and for some at this time; however credit bureaus have caught on this this strategy. We never supported this approach from the beginning as reflected in our May 15th 2012 post. Please know the facts regarding credit sweeps before implementing
Court Shuts Down Credit Repair Scam That Impersonates FTC
At the request of the Federal Trade Commission, a federal court has halted the operations of a company that calls itself “FTC Credit Solutions.” The company allegedly used false affiliation with the Commission to market bogus credit repair services to Spanish-speaking consumers. In a complaint filed with the court,
At FTC’s Request, Court Shuts Down Credit Repair Scam That Impersonates FTC
Scammers Make Impossible Promises, Target Spanish-Speaking Consumers At the request of the Federal Trade Commission, a federal court has halted the operations of a company that calls itself “FTC Credit Solutions.” The company allegedly used false affiliation with the Commission to market bogus credit repair services to Spanish-speaking consumers. In
Auto Title Loans: Like Payday Loans, But Larger and Riskier
The Pew Charitable Trusts today released a report focusing on the market for auto title loans. The report brings together data from a wide variety of sources to provide a clear, succinct, and thorough overview of the mechanics of this under-studied industry. It also, and most interestingly, includes the
It’s Profitable Violating Debt Collecting Law – Stay Vigilant!
It is not everyday that debt collectors who engage in unlawful activity are held accountable for their actions. Thus, when it does occur, it is an occasion to be celebrated. Unfortunately, the celebration and victory may bring little or no relief to the parties who have suffered due to the
Bankruptcy Filings Down
Thanks to Epiq Systems, the latest monthly bankruptcy figures are out, and they show a 10.1% year-over-year decline. We now have had 52 straight months of year-over-year declines in the U.S. bankruptcy filing rate. The graph to the right shows the trend in year-over-year changes. There was a daily
FDCPA Lawsuits Outnumber FCRA Lawsuits 4 to 1 in 2014
The final 2014 FCRA (Fair Credit Reporting Act) and FDCPA (Fair Debt Collections Practices Act) complaint stats are in. FCRA complaints remained steady compared to 2013 with 2,327 in 2014. FDCPA complaints dropped slightly from 2013 with 9,720.
Security Freeze may incur a fee in your state
What are the security freeze fees in my state? Security freeze fees for placement, for removing, and replacing a security freeze differs by state. Please refer to your state of residence below. You will find one or more specific requirement listed with each state. Find the scenario that applies to