The federal Consumer Financial Protection Bureau (CFPB) has issued an eye-opening report on the use of high cost credit cards to pay for medical and dental costs not covered by patients insurance. Here is what the CFPB had to say: WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) published a report on high-cost specialty financial products, such as medical […]
CFPB Issues Eye-Opening Report On The Use of High Cost Credit Cards to Pay for Medical Bills
CFPB Updates “Summary of Your Rights Under the Fair Credit Reporting Act”
The Consumer Financial Protection Bureau (CFPB) has released an updated “Summary of Your Rights Under the Fair Credit Reporting Act” to educate consumers on their rights relating to credit reports. “The federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, […]
What To Do If You Are The Victim Of Identity Theft
By: Robert J. Nahoum Identity theft is a serious crime that can have a devastating impact on your financial and personal life. If you think you may be a victim of identity theft, it is important to take action immediately to protect yourself. Here are some steps you can take if you are the victim of identity theft: Place a […]
What to Do If You Have Been Sued by a Debt Collector in a New York Debt Collection Lawsuit
By: Robert J. Nahoum Being sued by a debt collector can be a stressful and overwhelming experience. If you are facing this situation, it is important to know your rights and what steps you need to take to protect yourself. What to do when you are served with a summons and complaint The first thing you should do if you […]
How the Federal Truth in Lending Act Protects Car Buyers
By: Robert J. Nahoum The Federal Truth in Lending Act (TILA) is a federal law that was enacted in 1968 to protect consumers from unfair and deceptive lending practices. TILA applies to a wide range of consumer credit transactions, including car loans. One of the key provisions of TILA is the requirement that lenders disclose certain information to borrowers before […]
Notorious Debt Collector Portfolio Recovery Associates in Trouble Again with the CFPB
The infamous debt collector Portfolio Recovery Associates is reportedly settling claims brought by the Consumer Financial Protection Bureau for violating a settlement the debt collector reach with the CFPB 2015. According to the CFPB The Consumer Financial Protection Bureau (CFPB) took action today against Portfolio Recovery Associates, one of the largest debt collectors in the nation, for violating a 2015 […]
Behind the Scenes (Law Office Adaptation in the Age of Corona)
These are strange days indeed. The Coronavirus has compelled us all to adapt our lives in ways we could not have imagined just a few months ago.
How to Use Consumer Arbitration to Your Advantage
By: Robert J. Nahoum WHAT IS ARBITRATION? As technology advances, our lives have been made easier in many ways. There is no shortage of companies lining up to provide us with one sort of a service or another. Some we pay for like our cell phones, cable, internet and Netflix while others are free like Facebook, twitter and YouTube. One […]
Must You Pay Your Mortgage During the Corona-Economy?
By: Robert J. Nahoum THE PROBLEM We are in the depths of the Corona-Economy, as of this writing, nearly 10 million US workers have already filed for unemployment benefits with far more to come. These numbers do not include gig workers and those still working but fewer hours. Given this extraordinary economic disruption for working Americans, the burden to make […]
Student Loan Debt Buyer National Collegiate Student Loan Settles Claims of Unfair Debt Collection Practices with the Federal Government
By: Robert J. Nahoum National Collegiate Student Loan Trust (NCSLT) is a unique “junk debt buyer” that few people have ever heard of. NCSLT is in the business of specifically buying private student loans from banks. Much like the mortgages involved in the financial and foreclosure crisis of just a few years ago, private student loans are packaged together as […]