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 […]

Consumer Watchdog The National Consumer Law Center Has Issued Key Steps to Minimize Risk After Equifax Data Breach

Consumer Watchdog The National Consumer Law Center® (NCLC®), has issued the following key steps to minimize risk from the Equifax data breach: “Determining Whether the Client Has Been Affected It is very likely that any client with a credit history is one of the 143 million adult Americans whose personal information was exposed in a data breach at Equifax, one […]

The Equifax Data Breach

By: Robert J. Nahoum Equifax, one of the nation’s top credit reporting agencies, recently reported that the private data of roughly 143 million Americans had been compromised due a security hack.  It was also revealed that Equifax did not make the hack publicly known until a month and half after Equifax became aware and after Equifax management sold millions of […]

Consumer Financial Projection Bureau Issues Report of Debt Collection

By: Robert J. Nahoum Federal debt collection watch dog the Consumer Financial Protection Bureau (called the CFPB for short) has issued a its findings on a survey conducted of consumer experiences with debt collection.  According to the CFPB, “the survey results substantially expand the understanding of debt collection in the United States by providing the first comprehensive and nationally representative […]

What is Arbitration?

By: Robert J. Nahoum As technology has advanced our lives have undoubtedly been made easier.  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 thing these companies all […]

What is the Equal Credit Opportunity Act?

By: Robert J. Nahoum THE PROBLEM: The use of consumer credit is everywhere in our society.  People use credit and incur debt to pay for cars, homes, education and for every day needs.  With such widespread use of credit, the United States Congress recognized that consumers seeking credit needed to be protected from discrimination on the basis of race, color, […]