The Association of Settlement Companies (TASC) was arguably the most embattled trade association during 2010. Nearly all of their membership routinely included many now banned practices as a part of their everyday operations. TASC is trying to forget all that bad press by “reinventing” themselves as American Fair Credit Council (AFCC). The question is, are they truly inventing themselves or is this simply a renaming ploy in order to ditch their dirty laundry? Continue reading
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Frontier Financial Group and Ezell Williams Charged with Illegal Debt Collection
Judge James Stucky ordered two collection agencies to cease all debt collection efforts in West Virginia until they become licensed with the state. The action is against Frontier Financial Group, LLC and Ezell Williams. The companies must also stop collecting payday loans, which are outlawed in West Virginia. Continue reading
TRW Ventures Illegally Charged Advance Fees in Credit Repair Scam
Arkansas Attorney General Dustin McDaniel filed suit against several companies owned by president Thomas Randall Wells. The charges include allegations that the companies regularly promised customers that all of their negative information could be removed through their credit repair service. Customers were also charged advance fees of $700-800. Continue reading
Bin Laden Death Effect on the Stock Market
The stock market is about financials, corporations, the economy and our belief about future events. So what does that have to do with Osama Bin Laden? The answer lies in the effect of his cowardly act on September 11, 2001, but it also is reflected in how our fellow citizens reacted to move on from this act of war and show the world that the U.S. is open for business. Continue reading
OBAMA PAYS 28% INCOME TAX
YOU’D be hard-pressed to accuse our president of slacking off this tax season. The White House released Mr Obama’s returns on Monday, 18 April 2011; looking at the numbers, I think it’s clear he’s paid more than I ever have. Continue reading
Tax Lady Roni Deutch Charged with Contempt for Diverting Refunds
Roni Deutch, the self-proclaimed “Tax Lady” that claimed a 99% success rate, has been shut down. Still, she continues to resist authorities who are trying to recoup some money paid by her defrauded clients. Continue reading
Allied Interstate to Pay Oregon for Collection Law Violations
Oregon Attorney General John Kroger has reached an agreement with Allied Interstate which has them paying $90,000 to settle allegations of collection law violations. The action was in response to an investigation into approximately 200 complaints against the Minnesota-based debt collector over a 5 year period. Continue reading
JK Harris Overstated Benefits, Ordered to Pay Restitution in Texas
JK Harris failed to provide promised services. They overstated their ability to reduce taxpayers’ debts owed to the Internal Revenue Service. They accepted large prepaid fees from customers even though they knew or should have known that their tax liabilities would not be eligible for a reduction. Continue reading
Ouch! My Tax Bill is Higher than GE’s
General Electric filed an income tax return for 2010 claiming zero taxes owed. Did I hear that correctly? It is true, and it has a lot of tax reformers fuming. Continue reading
Colorado Sues Western Sky Financial for Exceeding Permissible Interest Rates for Unlicensed Lenders
Colorado Attorney General John Suthers has taken action against a national payday lender that has violated Colorado lending laws. Western Sky Financial provides payday loans with interest rates approaching 300%, yet it failed to obtain the necessary license to provide loans to Colorado residents above the 12% statutory limit. Continue reading
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