Friday, November 27, 2020
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Have you ever noticed that when people say not to worry about money it usually means they’ve got a lot and you don’t? Here at the Wake Forest News we take money seriously and cover the topic like nobody’s bidness.

We Tracked the Last Time the Government Bailed Out the Economy. Here’s What to Know About the $1 Trillion Coronavirus Plan.

Never in U.S. history has there been a moment like this: Trillion-dollar proposals are pouring forth from Capitol Hill in a mad bid to save the economy from the ravages of a pandemic. On the other hand, 2008, when toxic mortgage assets made “bailout” a political buzzword, wasn’t so long ago. Back then, Congress, to revive a financial system paralyzed ... Read More »

I Refuse to Pay Extra Collection Fee for Defaulted Student Loans

Question: Dear Steve, Art institute for one year Community college 2 years Grand total now 55k, was in deferment until Aug 18, in default and sent to a collection agency with a 10k fee on top of 55k. I want to buy a home, credit score dropped 100 points and cant buy until school loans are in “good standing”. What ... Read More »

Now is NOT the time for Unemployed People to go toGraduate School

Traditionally, graduate school has been an excellent place to hang out for people who are unemployed or clueless about their life’s vocation. In the old days, tuition was cheap, and a grad student had a good chance of picking up an instructor’s job or a research assistant position to help pay the bills. The cost of living was low in ... Read More »

FTC Sends More than $6.9 Million in Refunds to Victims of Office Supply Scam

The Federal Trade Commission is sending refunds totaling more than $6.9 million to small businesses, non-profits, and government agencies targeted by an office supply telemarketing scam that charged them for products they did not order. The FTC alleged that defendants’ victims included child care centers, schools, and police and fire departments. According to the FTC, Telestar Consulting Inc. and Karl ... Read More »

Federal Student Loan Collections and Wage Garnishments Temporarily Put On Hold

Politico is reporting, “DEVOS HALTS COLLECTION OF DEFAULTED FEDERAL STUDENT LOANS: The Education Department is putting a stop to collecting on defaulted federal student loans amid the coronavirus and ordering private collection firms to stop pursuing borrowers “until further notice,” according to the official and a memo sent to the companies. The department plans to make the policy retroactive to ... Read More »

How Do We Deal With the Coronavirus as Truck Drivers?

Question: Dear Steve, Chapter 7 bankruptcy discharged a year ago (April, 2019). Just got back on our feet. Minimal savings. Wife and I are both truck drivers. Early last year my wife and I filed for Chapter 7 bankruptcy. It was successfully discharged in April, 2019. We’re both truck drivers and it’s taken us a year to get back on ... Read More »

Corporate Turnaround Assists NJ Small Business Development Center

As emergency orders are being signed across New Jersey, thousands of businesses are being forced to close their doors immediately. “Businesses that are even allowed to be open for a few hours a day are seeing a steep drop in customers and are beginning to lay-off employees and they don’t know when it’s going to stop” says Vince Vicari, Regional ... Read More »

FTC Disconnects Pointbreak Media Robocall Scheme Defendants

Callers falsely claimed company represented Google, sought fees between $300 and $700 for first-page placement in online search results listings At the Federal Trade Commission’s request, a U.S. district court in Florida granted summary judgment against two individuals, approved six settlement agreements involving 11 defendants, and entered a default judgment against the remaining seven defendants, officially ending the massive Pointbreak ... Read More »

Former IRS Employee Convicted of Tax Evasion

A federal jury in Las Vegas, Nevada, yesterday convicted Craig P. Orrock, a former attorney and former Internal Revenue Service (IRS) employee, of tax evasion and obstructing the internal revenue laws, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division, U.S. Attorney Nicholas A. Trutanich for the District of Nevada, and Special Agent in ... Read More »

Consumer Financial Protection Bureau Files Suit Against Forster & Garbus, LLP

WASHINGTON, D.C. — The Consumer Financial Protection Bureau recently filed a lawsuit in the federal district court in the Eastern District of New York against Forster & Garbus, LLP, a New York debt-collection law firm. The Bureau’s complaint alleges that Forster & Garbus violated the Fair Debt Collection Practices Act by representing to consumers that attorneys were meaningfully involved in ... Read More »