New Student Loan Repayment Process May Help

The Department of Education announced earlier this month its plan to create a single Web portal for federal student loan borrowers – a move to make payments easier. Once the platform is released, borrowers will be redirected to a single portal to pay their student debt. But the site isn’t

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Deleveraging American Homeowners?

The Federal Housing Finance Agency has finally announced a program to reduce principal balances of distressed home mortgages held by Fannie Mae and Freddie Mac, eight years into the foreclosure crisis. Too little, too late would be an understatement to describe this initiative. According to the agency’s announcement, they expect

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Debate About Debt Collection Reform and Credit Availability

The Center for Responsible Lending has produced a nice, new empirical paper reflecting on and refuting the notion that certain debt collection reforms restrict the flow of consumer credit. The analysis is careful and impressive, and the natural laboratory experiment they found is fun and intriguing. In a nutshell, North

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Recheck the Math on Reverse Mortgages

Tara Twomey is just a keen observer of the consumer finance world, and she recently alerted me to a trend. Reverse mortgages are being aggressively hawked as a valuable financial planning tool, and the media is picking up the story. Even the reverse mortgage industry rag is excited at its

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Credit Repair Complaints -All Time Low

The 2015 consumer Sentinel Report on consumer complaints was released today. The credit repair industry complaints is at an all time low. CCA is please with this report. Credit Repair last year only account for 0.06% of consumer complaints. We have provided a this information below.

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CRA Seeks Exemptions of CROA H.R. 347

National Consumer Law Center Opposes H.R. 347 Questions and Answers Regarding Opposition to H.R. 347 Recently, supporters of H.R. 347, the misleadingly-named “Facilitating Access to Credit Act of 2015,” have advanced a number of arguments as to why the nationwide credit reporting agencies should be exempt from coverage by the

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Disputing a Collection

If anything at all on the collection is inaccurate, make a note and demand that the information be updated, or otherwise the collection should be removed. Sometimes when creditors go back to look at collections, they can’t validate them, and then they’re required to remove them entirely. This fact also

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