This generation of elderly Americans is the wealthiest ever, and that means criminals look at them as easy marks for financial scams. Losing all of one’s (or one’s parent’s) wealth to a scammer is heartbreaking and often difficult to reverse. It’s possible to lose substantial assets to a financial scheme, so protecting oneself by knowing …
Avoid Scams Targeting the Elderly, Avoid Unnecessary Bankruptcy Read More »
For several years now, Americans have owed more in student loans than any other type of consumer debt other than mortgage debt. At the same time, student-loan relief scammers have popped up to take advantage of borrowers. Student loans may be difficult to discharge in a New York bankruptcy, but debtors can at least avoid …
FTC, State Governments Crack Down on Student-Loan Relief Scammers Read More »
Private student loans do not often make the news, primarily because the vast majority of student loans are made by or guaranteed by the federal government, and comparatively few people take them out these days. Currently only $108 billion out of the $1.34 trillion in student loans are originated by private lenders with no connection …
NYT: ‘Robo-Signing’ Strikes Private-Student-Loan Debtors Read More »
Around 2012, bankruptcy lawyers began reporting a strange trend: their clients’ bankruptcies were hijacked by third parties, causing significant problems for the debtors’ cases. The fad didn’t reach the East Coast to a significant degree, but New York bankruptcy hijacking is possible. Debtors, especially those who’ve gone without lawyers, should learn what the signs are …
Bankruptcy Hijacking: A Scam on the Unwary Debtor Read More »
Tax debts can bedevil debtors. They are not easily discharged in a chapter 7 New York bankruptcy, and they are priority claims that must be paid in full without interest in chapter 13. Unsurprisingly, the IRS’s collection efforts will cause more anxiety to debtors than mere credit-card-debt collectors. However, a recent New York Times article …
Talk to a Bankruptcy Lawyer Before Negotiating With an IRS Debt Collector Read More »
Stolen passwords and PINs can easily result in unauthorized purchases or fraudulent credit accounts. Debtors unable to undo the damage might face serious consequences, including New York bankruptcy. The issue of password security is also salient because stories of Democratic Party officials’ hacked emails made the news before the November election. It’s a good opportunity …
Use Secure Passwords to Protect Personal Information Read More »
The Consumer Financial Protection Bureau (CFPB) and the New York Attorney General filed a complaint against a debt collection agency based in Buffalo, N.Y., for deceiving millions of consumers. (Surprisingly, many debt collectors make Buffalo their home.) Two men operated three companies, Northern Resolution Group, Enhanced Acquisitions, and Delray Capital, and up to 60 related …
CFPB and N.Y. Attorney General Go After Vast Debt Collection Scheme Read More »
Just last week, I wrote about LegalZoom’s offer to help sign student debtors onto the federal government’s income-based repayment scheme, even though the process is meant to be done by debtors themselves for free. There were two points from that post: One was that LegalZoom might not be the usurper of traditional legal services as …
New York’s Student Protection Unit Announces Closure of Debt Relief Provider Read More »
It’s understandable for New York bankruptcy lawyers to cast a wary eye at LegalZoom, the Internet-based legal services company. Most media portrayals treat it as the innovative new business that disrupts the lawyer-dinosaurs, allowing everyday Americans to obtain cheap legal services without the help of an expensive licensed professional, including drafting wills and even preparing …
LegalZoom Charges $699 for Help With Completing Free Government Forms Read More »
A few months back I wrote that it was fair to allow the Consumer Financial Protection Bureau (CFPB) to share its two cents about reverse mortgages. It was a rebuttal of sorts to a neutral explanation I had given previously. Recently, the CFPB authored a piece on the subject again, so now it’s a little …
CFPB Finds Reverse Mortgage Advertisements Confusing and Misleading Read More »
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