Worried about your debt? Consider this: The U.S. is $23 trillion in the red. Today, the country owes over four times more than it did in 2000, when the national debt stood at around $5 trillion. How did we get … Continue reading →
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Congressional leaders and Democratic presidential candidates are proposing huge investments in undergraduate education, including tuition-free public college and larger grants for students from low-income families. Although those policies would reduce the need to borrow for certificates and associate’s and bachelor’s … Continue reading →
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Two of Fresno’s most prominent eviction attorneys are facing lawsuits from evicted tenants who say the lawyers should be ordered to stop their debt collection practices. Representing three tenants in two separate complaints, Central California Legal Services accused attorneys Steve … Continue reading →
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Summary LendingClub originates unsecured personal loans it then sells to investors. Credit losses on its loans are steep and it looks like the company is worse than banks at underwriting. The stock is relatively cheap, which compensates for most of … Continue reading →
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New York Gov. Andrew Cuomo has proposed a bill to license consumer debt collectors. The proposal comes as part of the governor’s 2021 “budget bill” and was introduced on Jan. 21. A copy is available here. The bill proposes an … Continue reading →
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The United States Court of Appeals for the Sixth Circuit recently held that the anxiety felt by a debtor upon receiving a dunning letter was insufficient to bring a claim under the Fair Debt Collection Practices Act (“FDCPA”). See Buchholz … Continue reading →
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BY MARY ELLEN KLAS Matt Holland, 32, of Spring Hill is one of two million Floridians who have had their driver’s license suspended because they couldn’t afford to pay the debt. He lost his license when he couldn’t pay $3,000 … Continue reading →
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Debt collection agency Medicredit Inc. doesn’t have to face a certified class action alleging the company falsely threatened legal action for unpaid medical bills after the Fifth Circuit Jan. 8 cited a lack of evidence regarding the medical center’s intent … Continue reading →
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As states flex their regulatory muscle in response to a pullback in enforcement activity by the Consumer Financial Protection Bureau, they are zeroing in on debt collection as an area needing more oversight. Governors in New York and California both … Continue reading →
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Since the National Consumer Assistance Plan went into effect in 2017, public records must meet strict requirements to appear on consumer credit reports. Civil judgments and tax liens do not meet these new requirements, so they were removed from credit reports. At … Continue reading →
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