Tag Archive | "Fair Debt Collection Practices Act"

Colorado Man Goes to Prison for Lying on Loan Application

Friday, April 30, 2010

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Seems like no big deal, doesn’t it?  What harm could there be in lying on a loan application?  While the story below does seem pretty severe, if a lender finds out that you lied on a loan application, there will be consequences.  You could lose your loan or be sued for the amount of the [...]

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What to do if You Can’t Make Your Mortgage Payment

Friday, April 30, 2010

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The Federal Trade Commission has some helpful tips if you feel like you’re on the verge of being unable to make the payments on your home: Know Your Mortgage Do you know what kind of mortgage you have? Do you know whether your payments are going to increase? If you can’t tell by reading the [...]

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Colorado Attorney General Sues Credit Repair Company

Tuesday, February 23, 2010

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It’s bad enough to reach the end of your rope in dealing with your debt.  You don’t need to feel like you’re going to be pillaged by someone who tells you they can help.  So called “credit repair” companies seem to do more harm than good.  In my experience, they’re no better than negotiating a [...]

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The Cost of Payday Loans

Monday, February 22, 2010

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The Denver Post has a story about a proposed bill that, if enacted, would limit the interest that payday loan makers could charge.  The bill would cap interest at 36%.  Borrowers can now get hit with interest rates of up to 300% under a convoluted interest schedule.  While taking out a loan for $400 and [...]

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New Credit Card Law Goes in Effect February 22

Tuesday, February 16, 2010

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New Credit Card Law Goes in Effect February 22

The Credit Card Accountability Responsibility and Disclosure Act of 2009, goes into effect next week on February 22, 2010.  While the Act is supposed to protect consumers from getting in over their heads, I have to wonder if it’s going to.  I don’t think it’s going to keep people who are desperate for credit, either [...]

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