Family Debt Problems

01 Apr What Kind of Damages Can I Get From A Debt Collector For Violations Of The FDCPA? Part 2: Actual

There are three ways to receive damages from a debt collector for violations of the Fair Debt Collections Practices Act: (1) statutory; (2) actual and or (3) special. Each of these kinds of damages require different kinds of debt collection behavior to be proved by the consumer who is fighting back against abuse. In Part 1, I discussed "statutory" damages -- $1000 for a violation of the FDCPA. "Actual" damages are those damages which the debt collector has caused.
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23 Mar More Teeth in the Jaws of the Student Loan Debt Trap

In a growing list of states, if the lender reports a default on a student loan, the state will suspend or revoke occupational licenses until the default is cured.  In some of these states, the statute extends not only to occupations (such as teaching or most health professions) requiring a college degree for licensing, but to virtually any state-regulated job.  In Washington State, for example, one cannot practice as an accountant, auctioneer, cosmetologist, barber, manicurist, embalmer, funeral director, engineer, land surveyor, escrow agent, birthing center care provider, real estate broker, well-driller, health professional, teacher, real estate appraiser, private investigator, security guard, or bail bond agent, or operate a boarding house, if student loans are in default.  Apparently dog groomers are not regulated in Washington, accounting for the otherwise glaring omission of this critical profession from the list.
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26 Feb Are You On The Trade-in Treadmill?

Following the huge increase in foreclosures across the country, repossessions of vehicles are up 10% nationally over the year before. Most people finance a car based on the monthly payment and to accommodate those borrowers, lenders are now offering car loans as long as SEVEN years! While the monthly payment might be low, overall this increased time is increasing the total amount you are paying for the vehicle, but also increases the likelihood that you will rolling negative equity in your car into your next car loan. After all, who wants to be paying on a car than is six or seven years old? The trend is to fall to the car dealers marketing. Trade in your old car and roll the balance of the remaining loan into the new car purchase. Sooner or later, that car payment will grow beyond your ability to continue paying. Remember, with every new car purchase comes the increased costs of operating a new car; increased insurance, increased registration or property taxes, and increased car payments.
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