Repairing the Damages Caused by Identity Theft

Victims of identity theft also have the right to ask that information resulting from identity theft be removed and blocked from their credit report files. The FCRA also obligates credit reporting agencies and furnishers of information to investigate and remove inaccurate data including data resulting from an identity theft. Despite the rights guaranteed under the FCRA, however, legitimate investigations and the resulting corrections to the victim’s credit report have been difficult in the absence of attorney assistance. Testimony from several identity theft trials has shown that these investigations were often limited to two minutes each and consisted of nothing more than checking the agency’s information against the furnisher’s report. According to the “Aftermath” report, 70 percent of victims have difficulty removing information that resulted from identity theft transactions. The credit reporting agencies have demonstrated that they will do as little as possible unless forced to act further—often only after... Read More... Repairing the Damages Caused by Identity Theft

Consumer Complaints against Debt Collectors at All-Time High

The US Federal Trade Commission (FTC) recently published its annual report on the Fair Debt Collection Practices Act (FDCPA). In this report, the FTC alarmingly highlights a sharp increase in consumer complaints about debt collectors. In 2010, consumers lodged 140,036 complaints against debt collectors; these claims of abuse now account for 27 percent of all those filed with the FTC. These numbers are up from 2009, when 119,609 complaints were filed. In fact, complaints about abusive debt collectors outnumber all other categories of consumer complaints. Debt collectors are increasingly relying on illegal tactics to pressure and intimidate debtors the FTC says, likely due to competitive market factors. Many debtors unfortunately do not realize that debt collectors are strictly prohibited from engaging in abusive, fair, and/or deceptive measures during collection. Sadly, even more complaints are believed to... Read More... Consumer Complaints against Debt Collectors at All-Time High

What Are the Differences Between Chapter 7 and Chapter 13 Bankruptcy?

There are now various different forms of bankruptcy designed to be used in a variety of situations. These different forms of bankruptcy are referred to as “chapters” after different-numbered chapters found in the statutes of the bankruptcy laws. Some of the most frequently filed forms of bankruptcy include... Read More... What Are the Differences Between Chapter 7 and Chapter 13 Bankruptcy?

CACH LLC Buys Millions in Uncollectable Credit Card Debts

If CACH LLC has allegedly purchased the rights to one of your credit card debts, it may attempt to collect from you using traditional methods such as collection letters or telephone calls. If you fail to respond or do not comply with its imposed repayment terms, it will sue you in court to collect. CACH LLC hires law firms to sue with the hope that you will fail to respond (file an answer) to the summons and complaint. There is a hard-to-understand phenomenon in the consumer financial world, and that phenomenon is the en masse failure of consumers to respond to debt collection lawsuits.  In some studies, the failure to respond to debt collection lawsuits is as high as 95%. But, both CACH LLC and its law firms... Read More... CACH LLC Buys Millions in Uncollectable Credit Card Debts

Types of Debt That Can and Cannot Be Discharged in Chapter 7 Bankruptcy

There are incidents where you may not want to discharge all of your debts.  Common examples of a debtor wanting to keep a debt include a mortgage or a car loan.  In these circumstances, you may want to keep your home and/or your car.  To do so, you will need to reaffirm or re-promise... Read More... Types of Debt That Can and Cannot Be Discharged in Chapter 7 Bankruptcy