Debt Relief Compliance Attorney
Debt Relief Watch May 24, 2016
Share this:

Today, the Consumer Financial Protection Bureau (CFPB), the U.S. Department of Education and the U.S Treasury unveiled many new initiatives to student loan borrowers geared towards paying back their student loans as well as improve servicing practices. The highlight among these initiatives is the CFPB’s Payback Playbook. The Payback Playbook will play a significant role […]

Debt Relief Watch May 5, 2016
Share this:

Debt collection law firm Pressler & Pressler, LLP, two principal partners, and New Century Financial Services, Inc., a debt buyer has been ordered by the Consumer Protection Financial Bureau to stop issuing debt collection lawsuits based on insufficient evidence. Furthermore, the named partners and New Century have been fined a total of $2.5 million which […]

Debt Relief Watch April 15, 2016
Share this:

A study conducted at the Ohio State University to exam the effectiveness of the Sharpen Your Focus Initiative found that Sharpen clients performed better in various credit outcomes, showing considerable improvements in levels of total and revolving debt, money management skills, as well as increased financial confidence when compared to a control group of consumers […]

Debt Relief Watch April 14, 2016
Share this:

After being criticized for substandard student loan servicing, the U.S Department of Education recently announced plans to improve both, the manner in which monthly payments are collected and how collection companies are supervised. As opposed to navigating through various loan servicers, student loan borrowers will soon have access to a single online portal through which […]

Debt Relief Watch April 12, 2016
Share this:

The Consumer Financial Protection Bureau has reinstated the requirement for credit card issuers to register their card agreements following a one-year suspension on the requirement that came to an end on April 1. In April 2015, the quarterly submission was suspended as the CFBP worked on streamlining a database of the agreements. The deadline for […]

Debt Relief Watch April 12, 2016
Share this:

Out of the $1.3 trillion student loan market, private student loans only make up a small portion of the industry. However, a news analysis by NerdWallet indicated that more private student loan borrowers expressed dissatisfaction with their lenders than any other student loan lender. In 2011, the CFPB set up a system to address such […]

Debt Relief Watch March 31, 2016
Share this:

The Consumer Financial Protection Bureau’s (“CFPB”) latest consumer complaint “snapshot” has been released. Among a long slew of complaints, the most popular debt collection complaint was the companies’ attempts to seek relief on debt that was not owed; these made up 38% of the 219,200 complaints received by the CFPB in 2015. Other debt collection […]

Debt Relief Watch March 30, 2016
Share this:

Relief may be on the way for those individuals who have been burdened by debt as a result of payday loans. In January, the Consumer Financial Protection Bureau (“CFPB”) announced that it would be implementing new regulations to eliminate abuses such as high fees and charges that pose a challenge to consumers in the payday […]

Debt Relief Watch March 30, 2016
Share this:

The Consumer Financial Protection Bureau recently ordered Student Aid Institute (“Student Aid”) to halt all debt relief operations and void all existing contracts. Student Aid misrepresented itself as a debt relief organization and duped thousands of individuals into believing that it was affiliated with the Department of Education. Furthermore, the company, as well as its […]