Along with the recession, depression, slump, downturn, economic reset, crash, or whatever euphemism used to describe the massive consumer debts now facing many Californians, came squads of scammers looking to make quick bucks by promising to solve personal financial problems. These scam artists push their “services” through radio, television, mail, internet, and cold calls. When faced with overwhelming debts, thought processes get paralyzed, and desperation overrides good judgment and common sense. Conmen take full advantage of this phenomenon by pretending to be compassionate professionals who can solve enormous financial problems for just a few easy and affordable payments. Continue reading
Debt collectors are heavily regulated by federal and California state laws. The California Fair Debt Collection Practices Act (California Civil Code Section 1788.30, also known as the Rosenthal Act) mirrors the federal Fair Debt Collection Practices Act (15 U.S.C.A. Section 1692k). Such strict governance is required to control a field where threats and offensive language are known to be very effective tactics to extract payments from debtors. Continue reading
In today’s exceptionally hard economic times nearly everyone has thought about bankruptcy, even those with no intention of filing. We all have at least one friend or acquaintance who has filed bankruptcy. Many local businesses as well as quite a few large corporations have filed for bankruptcy protection.