Picking up where I left off yesterday on the debt elimination scam, I’d like to shift gears a little and lay down a challenge. I sometimes receive calls or emails from people promoting this system. Because I am easy to reach and I’m a well-known debt expert, they seem compelled to convince me of the [...]
Consumers seeking debt assistance are faced with a bewildering assortment of debt companies, services, programs, books, ebooks, and websites. How to tell the scams from the legitimate options? The purpose of this blog post is to help consumers easily spot and steer clear of one particular scam that is growing through network or multi-level marketing [...]
March 28, 2006 – 12:57 pm
This item made the news today: “Late Payments on Credit Cards Showed Strong Decline in Fourth Quarter 2005.” (Source: American Bankers Association’s Consumer Credit Delinquency Bulletin) In the third quarter of 2005, the number of credit card accounts 30 days or more past due stood at 4.74%, while this figure dropped to 4.27% in the [...]
March 27, 2006 – 10:25 am
We set a new record for personal bankruptcy filings in 2005, with a total of 2,039,214 consumer filings. That’s a 30% increase over the prior year. Of course, some of the surge has to do with negative publicity surrounding the new bankruptcy law that went into effect in October 2005. Approximately 400,000 of those cases [...]
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Charles J. Phelan Manchester Publishing Company 132 N. El Camino Real #161 Encinitas, CA 92024 Telephone: (866) 515-2360 Website: http://www.zipdebt.com Email: charles@zipdebt.com
Let’s call 2006 the year of the triple squeeze play against the indebted American consumer. With consumer debt at an all-time high, are things getting easier for people? Are there more options available for dealing with problem debt? No. It’s exactly the opposite. At a time when people most need help, they face a tougher [...]
March 22, 2006 – 10:13 am
Under the new bankruptcy rules, a lot more people will be forced into Chapter 13 bankruptcy versus the preferred Chapter 7. The major difference, of course, is that Chapter 13 represents the worst of both worlds. You get the giant B-word tattooed to your forehead (well, your credit report anyway, which amounts to the same [...]
March 21, 2006 – 11:07 am
Debt collection attorneys who file affidavits in state courts in order to obtain wage garnishments can be sued by consumers under the Fair Debt Collection Practices Act. This key decision, unheld on appeal to the 6th Circuit Court of Appeals, is an important victory for consumer advocates and other critics of the collection industry. For [...]
A big “thank you” to the National Association of Consumer Bankruptcy Attorneys. In a recent press release, they reported on the results of a survey of more than 60,000 consumers who were filing for bankruptcy under the ridiculous new law that went into effect last October. One of the silliest aspects of the new law [...]
