Tuesday, August 11, 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.

How Do I Fix My Credit Report After Being a 321 Financial Scam Client?

Question: Dear Steve, I was a victim of the 321 financial fraud scam in 2017. I have three accounts on my credit report still. They are obviously affecting my credit in a gigantic negative way. 321 financial took over $7000 from me! I feel like I have no recourse. I have tried disputing these derogatory accounts on my credit report. ... Read More »

Polk Partners Leads to Finance Solutions That Leads to…

Recently I wrote about a mailer a reader had sent me from Polk Partners. The mailer appeared to be the standard “we want desperately to give you a loan” offer but once you read the fine print on their website you learned reality might be different. Their website said, “Polk Partners is not an agent of you or any lender. ... Read More »

The Insanity of Coronavirus Payment Relief and The Massive Pain That is Coming

Yesterday I answered a reader question regarding the credit report impact of falling behind or skipping payments. See Will Credit Reports Take a Hit Because of Coronavirus? Today I learned about a paper published by Pamela Foohey (Indiana University Maurer School of Law), Dalié Jiménez (University of California, Irvine School of Law; Harvard Law School – Center on the Legal ... Read More »

Betsy DeVos sued for seizing student borrowers’ paychecks in violation of the CARES Act: “We don’t care. We don’t have to.”

Betsy DeVos, President Trump’s Education Secretary, doesn’t just think she’s above the law. She IS above the law. A few days ago, the National Consumer Law Center filed a class-action suit against Betsy DeVos and the U.S. Department of Education asking a federal judge to stop DeVos and DOE from garnishing student borrowers’ paycheck in violation of the CARES Act. ... Read More »

Will Credit Reports Take a Hit Because of Coronavirus?

Question: Dear Steve, Although I am not in a bad position during this pandemic, I am wondering if those who are falling behind in mortgage, student loans, car or credit card payments will have an adverse effect on their credit reports? Mary Louise Answer: Dear Mary Louise, You ask a great question. I’m going to base my answer on my ... Read More »

What Ever Happened to Clearing Solutions and What is Citadel Document Solutions?

Question: Dear Steve, Does anyone know what happened to Clearing Solutions? The BBB shows serious complaints and that the BBB has exhausted all forms of contact trying to reach the company. I noticed internet complaints mentioning that Golden Financial Services used Clearing Solutions to service their clients. Between all the complaints connecting Golden Financial Services to World Law Group (who ... Read More »

Garnishment of Poor Seniors by Federal Agencies- a Shameful Practice

By Eric Olsen, Executive Director, attorney, HELPS Nonprofit Law Firm In 1996 a federal law was passed governing the collection of debts owed to federal agencies. It is called the “Debt Collection Improvement Act of 1996.” This law authorized a 15% garnishment of social security for various debts owed to federal agencies. Each agency is responsible for collecting the debt ... Read More »

Alliant Credit Union is Coming After Our Truck and Charging Us Big Fees

Question: Dear Steve, We purchased a truck from Alliant Credit Union they immediately stated we didn’t have insurance. We sent them our Geico insurance they still added over 5k onto our balance and reported a late payment. We were in the midst of trying to refi. We are currently in litigation and they have reported another late payment yet they ... Read More »

NJCLASS and HESAA Loans Just Absolutely Suck. Have a Nice Day.

I received the following statement from a reader: “NJ CLASS/HESSA gave my loans to a “Law Firm” -collection Agency, that sent bullies to my brother-in-law’s house. They were yelling outside his apartment building that he needed to pay his bills and he was a thief!!! They came to my home, and served my minor child court papers! They left him ... Read More »

More Than 50 Colleges Sued Over Online Classes

A bunch of black swans showed up this spring, and they landed on top of every college administration building in America. Last March, virtually every postsecondary institution shut down in response to the coronavirus pandemic. Students who lived in campus dorms were told to scram. Face-to-face instruction screeched to a halt, and the colleges began teaching their students online. The ... Read More »