A recent client advised me he actually went to the J.C. Penny’s store to make a partial payment on his account ($50.00). The employee in Customer Service refused to take the payment because it was not the minimum payment. What was the employee thinking?! As crazy as it may sound, creditors are not required to accept a payment unless [...]
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Mortgage modification agreements are being offered by some lenders. But all mortgage modification agreements are not equal. Here’s what’s happening in the real world, today.
While decorating my Christmas tree yesterday, I was listening to the radio. One of the commercials was for a debt settlement company advertising that credit card companies don’t want consumers to know they have a “right” to settle their credit card debts. My ears perked up and my mouth dropped open. Did I hear the [...]
Greg Abbott, Texas Attorney General, has proposed a legislative initiative aimed at improving the foreclosure process in Texas and help homeowners stay in their homes. He has recommended state legislators consider enacting the Texas Foreclosure Deferment Act. Under the proposed act, a mortgage loan servicer would be required to provide a Texas homeowner with a [...]
Texas Attorney General Greg Abbott recently issued a consumer alert advising parents who use a EPPICard, known in Texas as the Texas Debit Card, to access their child support payments to be aware of a new identity theft scam that targets EPPICard users. Fifteen states, including Texas, use the EPPICards to disburse child support payments.
You read the papers and a company you never heard of, say, Asset Acceptance, is suing you. They bought the bad debt from a credit card company. This is now a multi-billion dollar industry, big banks and credit card companies sell charged off debt, that is, debt they cannot carry as an asset on their [...]
