FDCPA Lawsuits Outpace last Year

Total lawsuits filed in the U.S. this year citing alleged Fair Debt Collection Practices Act (FDCPA) violations reached 10,402 through mid-October, well ahead of last year's pace.  The article is here at the link:


For more on the Fair Debt Collection Practice act you can find it here at the link FDCPA.  

FDCPA protects consumers as it dictates to debt collectors what they can and can’t do when collecting a debt from a consumer. The United States Congress has found that there is ‘abundant evidence of the abusive deceptive and unfair debt collection practices by many debt collectors. Abusive debt collection practices contribute to the number of personal bankruptcies, to marital instability, to the loss of jobs and to the invasion of individual privacy’s.

For more on the FDCPA to discuss Credit Repair Services. Visit Consumer Credit Capital.at the link. 

$7.77 Trillion in Loans made to the Banking System

While congress and the country were kicking around the $700 billion figure (Paulson's bazooka) and the hyperinflation-istas were screaming the ski is falling--- the dollar toast--- none of them recognize how big the dollar is (wait until they get hold of the $7.7 trillion number).  Back then the argument was, and to many still is, the dollar is going to implode and the Euro will become the reserve currency.  There is much more here at the Bloomberg article.

Study Finds Link Between Personality And Credit Scores

A soon to be published study suggest that agreeable people might get themselves into trouble taking out loans that others might not.  Conducted by researchers from LSU, Texas Tech University and Northern Illinois University, the study examines credit scores and personalities.

“That suggests easy-going individuals actually have worse credit scores than disagreeable and rude individuals."

There is more to be publishes in the Journal of Applied Psychology in the meantime there is more here at the link.  If you have question about your credit score and how to increase credit score click over to Credit Repair Texas.for a free Credit Repair Services evaluation.

Study Finds No Link Between Bad Credit and Employee Theft

Bad credit can affect your ability to get a job, insurance rates and interest rates you pay, but apparently according to LSU researchers there is no link beteen poor credit and employee theft.

“It was telling that poor credit scores were not correlated to theft and other deviant types of work behaviors,” said Bernerth. “Most companies attempt to justify the use of credit scores because they think such employees will end up stealing, but our research suggests that might not be the case.” 

There is much more here at the link.  If you have questions about how to fix credit give Credit Repair Services a visit for a free credit repair evaluation.

Alabama Sues Debt Collector for FDCPA Violation

In another case of a debt collector using deceptive practices, Alabama has accused a debt collection company of falsely claiming a creditor had entered into an agreement to pay.  The lawsuit alleges the company was sending letters to consumers claiming the consumer had entered into and agreement with the company and then reneged.  In fact, according to the suit, no such agreement was entered into nor had the consumer even had contact with the debt collector. There is much more here for the inquiring mind.  The take away here,  it is illegal for a debt collector to lie.  If you have questions about a debt or a collection practice visit Credit Repair Services for a free credit repair Texas evaluation.

Bankruptcy: Largest Ever Municipal Bankruptcy

Alabama county filed for bankruptcy over a $3 billion dollar sewer project.  The bottom line here is the county over extended itself, borrowed a boat load of money, putting their taxpayers on the hook, to build a sewer system.  While those that entered this deal, on the county side, are obviously grossly incompetent local governments across the country are facing similar stresses.  While this case can be blamed on a sewer project - -how apt-- the underlying problem is local governments with promises to pay pensions and healthcare obligations that their now stressed out tax base can not afford-----less income and estates to tax, coupled with a substantially lower expectation of ROI on investments, given the FED's zero interest rate policy.  Alabama is the largest bankruptcy today, let's see how long they hold the title.

Banks' Foreclosure Agent Argues Against The Need For Accurate Paperwork

In another, all too familiar, crazy land, court proceeding, the banks and their agents are pushing forward their best interest as they continue to game the housing market.  In this case, they are arguing, the paperwork that they are admitting to the court, they shouldn't have to affirm as accurate.  It's too much trouble and, they say, unconstitutional.
First they goosed the market up, hot potato-ed bad mortgages to investment funds, and now they are booting their clients out of their houses on the way down.  There is much more here for the inquiring mind.  If you have questions of the accuracy of your credit report then review the link clean credit, and sign up for Credit repair Services free credit repair evaluation.