Tag Archives: debt relief

Posted 4 years ago in Creditor/Debtor by Josh Crank  
Student Debt Relief Industry Fleecing Borrowers, Report Says

America’s student loan bills have outgrown its credit card bills, and the debt relief industry is clamoring for the business of student borrowers. But according to a report from the National Consumer Law Center (NCLC), some companies are ripping off those borrowers by charging hefty fees for programs the federal government offers for free. The NCLC used a secret shopper to investigate 10 agencies that advertised student loan debt relief. The investigation found numerous problems with the industry, including the …

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Posted 4 years ago in Bankruptcy Creditor/Debtor by Aaron Kase  
Don’t Be Fooled by Abusive Debt Relief Companies

Drowning in debt? There are plenty of businesses out there that say they want to help, but consumer beware: Many debt relief companies would just as soon pocket whatever little cash a debtor has left and run, in lieu of actually resolving the problem with the creditors. The Consumer Financial Protection Bureau recently filed the first of what will probably be many actions against shady debt relief companies for misleading their customers and engaging in abusive practices. The complaint alleges …

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Posted 5 years ago in Creditor/Debtor Foreclosure Taxation by Michele Bowman  
Expiration of Debt Relief Act Could Revive Mortgage Crisis

A federal law that has helped consumers avoid paying taxes on money they never even had is set to expire at the end of the year. If it does, homeowners who are forgiven any of their debt when they are foreclosed on will have to pay income tax on the forgiven amount.   Forgiven “Income” To Be Taxed It seems crazy, but it’s true: Normally, if a homeowner owes $100,000 on her mortgage, but the property sells in foreclosure for …

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