If you’ve ever been drowning in credit card debt, it’s likely a debt settlement firm has reached out to you. Even if you haven’t engaged in conspicuous consumption activity, a setback such as a job loss, need for medical services … Continue reading →
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SPRINGFIELD – A measure led by State Senator Mattie Hunter (D-Chicago) that would protect individuals from lawsuits, calls from collection agencies, as well as other collection tactics and chargers for decades-old violations was signed into law by Governor JB Pritzker … Continue reading →
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Financial services and consumer protection stakeholders met as the California Debt Collection Advisory Committee Wednesday in what was the first meeting of the group created under the Debt Collection Licensing Act (DCLA). “Our goal here is to be proactive with … Continue reading →
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Recent bankruptcy decisions on discharging student loan debt have led to confusing and conflicting outcomes for borrowers. But efforts to reform the bankruptcy code to more easily allow student loans to be discharged in bankruptcy continue. To discharge student loans … Continue reading →
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(Reuters) – The U.S. Court of Appeals for the 7th Circuit in Chicago agreed with the Consumer Financial Protection Bureau that debt-focused law firm Consumer First Legal Group misled borrowers but said a judge must reconsider $59 million in restitution … Continue reading →
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Here’s What You Need to Remember: The department’s latest forgiveness measure impacted more than 1,800 applications for student loan debt cancellation who attended three different institutions. The borrowers will receive one hundred percent loan discharges, amounting to nearly $55.6 million in … Continue reading →
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Student loan issues are on the agenda for a Tuesday hearing by the Senate Committee on Banking Housing and Urban Affairs Subcommittee on Economic Policy. U.S. Sen. Elizabeth Warren, chair of the subcommittee, will lead the hearing, “Protecting Student Loan … Continue reading →
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(Reuters) – Borrowers in California took out 40% fewer payday loans in 2020 compared to the year before, the state’s consumer finance regulator said in an annual report on Thursday. Data payday lenders submitted to the California Department of Financial … Continue reading →
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$113M Caro Federal Credit Union takes on Wells Fargo GREENVILLE, SC (July 22, 2021) — Wells Fargo personal line of credit borrowers are ticked; the mega bank announced earlier this month that it was shutting down all personal lines of … Continue reading →
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Although Americans’ overall medical debts have decreased in the decade since the Great Recession, medical bills now outweigh all other sources of debt combined as the largest contributor to personal debt in the U.S. Based on a sample of debt … Continue reading →
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