The Federal Trade Commission (FTC) has proposed changes to the law that would prohibit so-called “ foreclosure prevention” companies from charging up-front fees for their services. 

“Homeowners facing foreclosure or struggling to make mortgage payments shouldn’t have to contend with fraud­ulent companies that don’t provide what they promise,” FTC Chairman Jon Leibowitz said. …

Tags: Federal Trade Commision foreclosure homeowners

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The Federal Trade Commission (FTC) successfully sued three debt collection companies who scammed consumers into paying money they did not really owe.   A total of $1.6 million was recovered from the debt collection scammers and will be distributed to 24,916 consumers.

In 2003, the FTC sued three companies, operating under the name National Check Control, charging them with harassing and abusing …

Permalink: /breaking-news/federal-trade-commission-to-reimburse-consumers-scammed-by-debt-collectors/

The Federal Trade Commission has charged National Foreclosure Relief Inc. with falsely claiming that it would stop foreclosures or fully refund consumers’ money. The foreclosure “rescue” company would target homeowners facing foreclosure with postcards that claimed to have approved them for a “Fresh Start Program” that could save them from foreclosure.

The postcard said:

“We are …

Permalink: /foreclosures/foreclosure-relief-scammers-charged-by-federal-trade-commission/

… Know them and understand what those rights are.

Debt collectors are prohibited by state and federal statutes from using tactics that harass, annoy or alarm you or your family.  Some examples include:

Repeatedly calling you on the phone.

Threatening physical violence towards you or your family.

Using profane language or cussing at your children when they happen to answer the phone.

Debt collectors are also prohibited from making false statements.  If they say they are an …

Tags: Consumer protection Debt Collectors Federal Trade Commission Know Your Rights

… changed the product we were selling,’ said Mr. Soussana, who ran the Los Angeles sales office of Federal Loan Modification Law Center.  The new script:  You got a raw deal, and ‘Now, we’re able to help you out because we understand your lender.”  These loan modification companies frequently require substantial amounts up front.  Many people have opened new credit card accounts to pay for their hefty deposits hoping to save their homes.  According to the article, many of the for …

Tags: Federal Trade Commission loan modification Subprime lending

… to the foreclosure crisis.  Regardless of how it started, the recession is still here and the Federal Trade Commission (FTC) is grossly aware of its impact on consumers. This week, the FTC made several announcements that should help you as a consumer as you begin to rebuild your credit after bankruptcy.

The first announcement involved the accuracy of credit report information.  After bankruptcy, a consumer should get a copy of their credit report to review for inaccurate …

Tags: Collection agency Federal Trade Commission FTC Law Money Management Personal Finance

… on YOUR BEHALF.  And you can be sure the attorney will work within the law.

Bankruptcy is a federal law written specifically to PROTECT YOU from creditors.  The law is racked with extensive code detailing its parameters and is heavily regulated to ensure that mistakes and violations are prevented.

While there may be credit counselors who have honorable intentions, the fact remains that the industry is not as well regulated as bankruptcy.  The counselors sometimes actually work for …

Tags: Bankruptcy Better Business Bureau Business Credit history Credit score Federal Trade Commission Law United States

According to an article in the Star-Telegram, the Federal Housing Administration (FHA) has been terribly weakened by the foreclosure crisis and many analysts fear that the housing agency may need a taxpayer bailout.

The article said:

“On Friday, the FHA said its financial reserves had sunk below mandatory levels for the first time in its 75-year history. While officials insist the agency won’t require a taxpayer rescue, falling home …

Tags: Barack Obama Federal Housing Administration FHA foreclosure

Permalink: /foreclosures/federal-housing-administration-shaken-by-foreclosure-crisis/

… higher volume taxing manpower of the TWC.

According to the Star Telegram and the Texas Workforce Commission, unemployment claims paid through TWC have more than doubled since 2008.  The increase in the number of filings is adding even more pressure to the already stressed TWC.  According to the article, the TWC has lost federal funding for workers over the last few years.  Despite the losses, they are working as quickly as possible to respond to the higher volume of applicants with more …

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According to the Star Telegram and the Texas Workforce Commission, unemployment claims paid through TWC have more than doubled since 2008. The increase in the number of filings is adding even more pressure to the already stressed TWC. According to the article, the TWC has lost federal funding for workers over the last few years. Despite the losses, they are working as quickly as possible to respond to the higher volume of applicants with more …

Permalink: /dallas_lawyer/increase-in-claims-continue-to-burden-workforce-commission-2/

According to the Star Telegram and the Texas Workforce Commission, unemployment claims paid through TWC have more than doubled since 2008. The increase in the number of filings is adding even more pressure to the already stressed TWC. According to the article, the TWC has lost federal funding for workers over the last few years. Despite the losses, they are working as quickly as possible to respond to the higher volume of applicants with more …

Permalink: /dallas_bankruptcy/increase-in-claims-continue-to-burden-workforce-commission/

… residents are often faced with long waits and busy signals when calling the Texas Workforce Commission regarding their unemployment claims. The rise in job losses have put a strain the Texas Workforce Commission’s resources and many unemployed Texans are waiting weeks to get questions answered.

The article said:

“Paid unemployment claims in Texas have more than doubled since 2008, and commission officials say the surge has led to an “unprecedented volume” of people …

Permalink: /job_loss_unemployment/texas-workforce-commission-overwhelmed-by-surge-in-unemployed/