In the September 22, 2011 edition of the Reader’s Digest, Michelle Crouch authored an article entitled “13 Things A Debt Collector Won’t Tell You“. The article used as sources Fred Williams, who worked as a debt collector for three months to write Fight Back Against Unfair Debt Collection Practices ; Michelle Dunn, former owner of [...]
Sep
26
2011
26
2011
May
9
2011
9
2011
Our National Foreclosure Mess Continues
Our Nation continues to experience the worst collapse in its housing sector since the Great Depression. Already 5 million homes have been lost to foreclosure over the past 4 years and another 14 million homeowners are underwater with their mortgages. Mark Zandi, Moody’s Analytics Chief Economist, believes that the foreclosure crisis is the 2nd biggest [...]
Sep
12
2010
12
2010
If You’re Drowning, Don’t Grab an Anchor
           The Ohio Department of Job and Family Services still reports that over 10% of Ohio and 12% of Lucas County workers are unemployed. With high unemployment rates, people are drowning in debt and looking for a lifesaver. Unfortunately, there is no shortage of debt-settlement/relief companies willing to cast them an anchor disguised as a [...]
Sep
7
2010
7
2010
A Summer of Recovery?
Ask any of the “talking heads” that appear as “experts” on the nightly cable news/entertainment programming and you will get an opinion on the state of the national recession. They will also offer their opinion as to how to restart the sluggish economy. However, for those of us in Northwest Ohio, the numbers tell the story [...]
Jun
29
2010
29
2010
Foreclosure Just the Start of An Ongoing Nightmare for Ohio Couple
It has happened to many people in Northwest Ohio.  The facts are very basic.  A  homeowner is forced from their home due to the current economic conditions and lagging real estate market. The Bank padlocks the door to the home and initiates a foreclosure proceeding. The former homeowner no longer has access or control. Zoning officials cite the former homeowner [...]
Jun
9
2010
9
2010
Obama Administration Seeks To Protect Seniors From Debt Collectors
The Obama Administration has proposed new rules intended to protect those receiving federal benefits from having the benefits illegally seized by debt collectors or seeing their bank accounts frozen. Currently, state and federal laws exempt these benefits from garnishment, attachment and from court orders obtained by debt collectors. However, in practice, upon receipt of a court [...]
Jun
4
2010
4
2010
Vulgar Voicemail Messages Cost Debt Collection Firm
 One of the better consumer oriented blogs is Caveat Emptor, written by Attorney Sam Glover of Minneapolis. Mr. Glover recently posted on a Dallas County jury’s decision to award a consumer $50,000.00 for mental anguish and $1.5 million in punitive damages due to harassing and threatening collection calls.  The eight (8) calls were made to collect approximately [...]
May
19
2010
19
2010
Credit Card Delinquencies Fall and Toledoans Have Decent Credit
As the Senate Banking Committee considers a revamp to the nation’s financial regulatory system, two articles caught my eye regarding the nation’s credit card lenders. Reuters News Service reported that credit card delinquencies were down in April 2010 for the fourth straight month. Default rates fell to the lowest level of the year for the [...]
Apr
8
2010
8
2010
The Obama Administration Tries Again To Stem Tide Of Foreclosures
Problems in the real estate market continue in the Metro Toledo area. The number of foreclosures in the area continue to increase, despite the efforts of the federal government.  The Toledo Blade reports in its April 8, 2010 edition that 1 out of every 12 (8.05%) mortgage holders is 90 or more days delinquent. The percentage of [...]
Apr
5
2010
5
2010
Area Bankruptcy Filings Continue To Rise; Numbers Fueled by Job Losses and Medical Bills
A Toledo Blade article on Friday reported on the number of Bankruptcy filings in the 21 counties that make up NW Ohio. The Blade reported that bankruptcy filings in the month of March totalled 1,063, surpassing the 1,000 mark for a single month for the first time since October of 2005. October of 2005 is significant [...]