CONSUMER FINANCIAL PROTECTION BUREAU LAUNCHES ENFORCEMENT ACTION AGAINST STRATEGIC FINANCIAL SOLUTIONS
Earlier this year, the Consumer Financial Protection Bureau THE CFPB: ALLY IN CONSUMER RIGHTS filed an enforcement action against Strategic Financial Solutions (SFS) in the Western District of New York. https://www.consumerfinance.gov/enforcement/actions/stratfs-llc-fka-strategic-financial-solutions-llc-et-al/. SFS had a variety of subsidiaries that offered debt – relief services. The CFPB alleged in its complaint that SFS and its subsidiaries violated […]
Augusta Bankruptcy Court issues a reminder about lack of jurisdiction over credit reporting inquiries.
https://www.gasb.uscourts.gov/news/public-notice-regarding-credit-ratings-and-credit-reporting
BANKRUPTCY FILINGS SHOW FIRST QUARTER INCREASE FOR THE FIRST TIME IN 3 YEARS
The logic behind the numbers FORECLOSURES – Foreclosure referrals in January 2023 were at their highest level since pre—Covid. Those foreclosure numbers have continued to increase for a number of reasons. Pandemic era safeguards expired and homeowners have exhausted the opportunities for loan modifications that were available during that time. In the CSRA, the local […]
THE IMPORTANCE OF HAVING ADEQUATE AUTOMOBILE INSURANCE
What does automobile insurance have to do with bankruptcy? Not having adequate automobile insurance or being unfamiliar with your existing insurance can create significant financial problems. These financial problems can in turn lead to a bankruptcy filing. The first reason is basic, but still needs to be addressed. At a minimum, you must have liability […]
Unlike free college, discharging student loans in bankruptcy is a great idea
https://thehill.com/opinion/education/566932-unlike-free-college-discharging-student-loans-in-bankruptcy-is-a-great-idea
Finance & Credit Trends to Avoid in 2018
At the beginning of the most recent century, both lenders and borrowers had developed many bad habits from a toxic combination of unrealistic optimism and immediate gratification. These bad habits led to a dramatic increase in bankruptcy for both individuals and corporations alike. In the years that followed, consumer lending became less available, and with […]
TIS THE SEASON TO BE WARY OF OUTSTANDING JUDGMENTS
Consumers are routinely recommended to check their credit, and not just to evaluate their scores. The information that is listed on your credit report will be the first resource used by a potential lender in evaluating a consumer’s credit. In reviewing their credit reports, some consumers may realize that a judgment has been asserted against […]
Service of Process in Debt Collection Lawsuits in Georgia
Previous articles on this website have the progression of a debt collection lawsuit from judgment to eventually the attachment of liens to real property, bank account seizures, and wage garnishments. Unfortunately, many consumers fail to protect themselves and defend against a lawsuit because of misconceptions about how the lawsuit is delivered. Georgia law allows for […]
HEIGHTENED REVIEW OF INCOME TAX RETURNS IN CONSUMER BANKRUPTCY CASES
Since the Bankruptcy Reform of 2005, additional requirements were imposed upon consumer debtors who filed chapter 7 or Chapter 13 bankruptcy. One of those requirements is that debtors must provide their most recent income tax returns to the bankruptcy trustee, before their meeting of creditors. In the Augusta area, the meeting of creditors is traditionally […]