Posts Tagged ‘scams’

Like a sort of perpetual-motion machine for debt—a perpetual-debt machine, rather—Oregon debt collection agency Genesis Financial Solutions has started issuing credit cards to consumers, with the balance equal to the debt the consumer allegedly owes. As the consumer pays off the debt, of course, they generate more debt, making sure they remain “customers” for life.
While [...]

Surprise Surprise . . . mortgage rescue scams on the rise!!! Beware of anyone offering to rescue your home from foreclosure. If you are tempted, find a consumer lawyer to review the deal prior to closing.

Here is a short video from Democratic presidential candidate Barack Obama in which he promises to create a ten million dollar fund to help keep people in their homes and a tax deduction for homeowners who do not itemize on their income tax returns.

[via Consumer Rights Watch]

How much worse can things get?
According to a new article in the WSJ, those wonderful community financial services people, more commonly know as Payday lenders are increasingly targeting recipients of Social Security and other government benefits, including disability and veteran’s benefits.

But it isn’t just the Payday lenders who are involved in this abuse of our [...]

I am torn. I don’t know whether I should post this link or hope it dwindles into obscurity (unlikely). The website says it all:

You Walk Away promises to help homeowners walk away from their current mortgage with no debt, no strings, and says ballsy things like this:
You will immediately know the exact amount of days [...]

“The truth is, our middle-class families are not going to be secure so long as they can’t get out of debt,” Obama said Monday, sharpening the populist rhetoric of his presidential campaign. “If we’re serious about stopping Americans from falling deeper in debt, we’ve got to crack down on predatory credit card companies that are [...]

I called HSBC Bank this evening because I wanted to see a copy of their credit card agreement. I said I was interested in applying for a credit card, but I would like to see a copy of the credit card agreement before I applied. They told me I could not have a copy of [...]