News

Recent Posts in News

  • Kevin DeOliveira-Longinetti was an honors student and talented athlete when he enrolled at the University of Vermont in 2009. According to CBS News, his goal was to become a doctor. But in January 2015, Kevin was found dead in his Burlington ...
  • CFPB Hearing on Debt Collection

    Debt collection is a $13.7 billion industry in the United States that employs over 130,000 people. At the Consumer Financial Protection Bureau (CFPB) Field Hearing on Debt Collection on July 28, 2016, Director Richard Cordray noted that much work ...
  • Bad news for debt collectors: the 11 th Circuit Court held in Johnson v. Midland that debt collectors may face penalties under the Fair Debt Collection Practices Act (FDCPA) for filing proofs of claims in bankruptcy for debts in which the statute of ...
  • ROBOCOP Act Brought Before Senate

    Back in April, a bill was introduced in the House of Representatives that would force phone service providers to make it simpler for customers to block unwanted prerecorded and automated calls. The ROBOCOP Act has been sitting idle for a while, but ...
  • Experian, TransUnion, and Equifax issued a memo in March to all data furnishers providing notification of upcoming changes and new initiatives to certain furnishing requirements. These new furnishing requirements were first announced by the consumer ...
  • John Oliver Gives Away $14M on Last Week Tonight

    On last night’s episode of Last Week Tonight, host John Oliver gave away $14 million as part of an effort to increase awareness of debt, debt buyers, and zombie debt in America. American households currently own over $12 trillion in debt, $436 ...
  • New Rules Could Overhaul the Payday Lending Industry

    The Consumer Financial Protection Bureau has proposed a set of new rules aimed at protecting consumers from the cycle of long-term debt that often comes with payday loans. Anyone who has ever needed a payday advance knows that these short-term loans, ...
  • David Dayen of the Daily Kos recently published a book on the story of three South Floridians and their role in uncovering the largest crime against consumers in American history: foreclosure fraud. Mortgage companies that had no legal right to ...
  • The Supreme Court recently threw out the decision made by the Ninth Circuit Court in the case of Spokeo Inc. v. Thomas Robins, which held that a plaintiff does not have a legal right to sue simply by alleging bare, technical violations of statute. On ...
  • Father Wins Student Loan Debt Relief

    A federal appeals court has urged a bankruptcy judge to consider a settlement that would allow a Duxbury father to erase more than $246,000 in student loan debt. Fourteen years ago, now 65-year-old Robert Murphy lost his $165,000-per-year job as ...
  • Beware of This New Debt Collection Scam

    The Federal Trade Commission is warning consumers of a new debt collection scam involving fake collection notices for phantom debts. According to the FTC website, criminals are putting a creative – and scary – twist on an old scam by ...
  • How Courts Punish People for their Poverty

    Think debtors prisons no longer exist? Think again. One way that court systems commonly raise revenue is to impose fees and fines on those who commit minor offenses. For many people, these expenses can pile up, driving them into poverty. Often, ...
  • Fannie Mae and Freddie Mac have announced the first-ever principal reduction loan modification program for homeowners with underwater mortgages – excellent news for both homeowners and investors. The implementation of this program is an ...
  • One of the largest debt collectors in the United States, Midland Credit Management, Inc. is facing a potential class action lawsuit from consumers accusing the company of trying to force payment of old debts that are no longer legally enforceable. ...
  • HANGUP Act to End Unwanted Robocalls

    Two House Democratic Lawmakers introduced a new law that would roll back a budget bill provision of the Bipartisan Budget Act of 2015 allowing unsolicited autodialed collection calls to borrowers of government-backed loans. According to Congresswomen ...
  • U.S. Supreme Court Justice Antonin Scalia’s unexpected death in February at the age of 79 threw into disarray the fate of many of the Supreme Court’s most high profile cases, including those involving hot-button topics like immigration, ...
  • TCPA Exemption for Fed-Backed Loans Circulated to FCC

    On February 17, a draft rule to exempt robocalls to collect federal debt from TCPA rules was circulated to the FCC. This proposal is looking to create a balance between consumer protections and a directive by Congress allowing companies servicing ...
  • A bankruptcy judge has ordered 50 Cent into her courtroom to explain a number of photos of the rapper posing with large stacks of cash, suggesting that he could be lying about his current financial situation after filing for Chapter 11 bankruptcy ...
  • Ocwen has been in enough hot water lately without adding to their long list of questionable activities. You may recall from our previous blog that Ocwen sent misdated letter claim program notices to borrowers, which robbed them of their ability to ...
  • U.S. Marshals Arresting Student Loan Borrowers

    The U.S. Marshals Service is arresting people in Houston for not paying their outstanding federal student loans. According to a Fox 26 article on the story, one man was arrested for a $1,500 student loan he took out in 1987. Seven marshals showed up ...
  • Rising Drug Prices Hurting American Families

    Martin Shkreli-style drug price hikes are everywhere, according to an article published by CBS News. You may recall from recent news that Martin Shkreli, the shamed CEO of Turing Pharmaceuticals, has been up to his eyeballs in bad publicity after ...