I recently was sent a copy of a denial of default judgment out of Louisiana. Download In that case, Arrow Financial Services asked the court for a default judgment. The court rejected it. Why? For the simple reason that Arrow…
Posts Categorized In: News
California Debt Blog: The Banks Trying to Limit Your Rights
I do not know the last time I posted and just gave you an article. But here goes from the New York Times: What is up with the banks and the rest of the financial industry? The people running this…
California Debt Blog: Banks Avoiding Doing Loan Modifications
A new study by the Federal Reserve of Boston concludes that lenders are not offering loan modifications, despite the lenders statements to the contrary. Why? Because the lenders aren’t making money on them. The interesting part, I think, is that…
California Debt Blog: California AG Sues Mitchell Roth
I can’t provide the story via the link since it is a locked story, but here is the story from The Recorder, a legal publication out of San Francisco: SACRAMENTO — Attorney General Jerry Brown on Monday sued a Southern…
California Debt Blog: Bankruptcies Higher In Wage Garnishment States
The Associated Press recently studied trends in bankruptcy filings. One thing stood out to them: in states where debt collectors can garnish wages, bankruptcies are sharply higher. Five states, North Carolina, Pennsylvania, South Carolina, Florida and Texas, prohibit or sharply…
California Debt Blog: Watch Your Credit Card Statements Closely
Bad news for consumers: credit card companies are closing cards and raising interest rates. The latest is Advanta announcing that they are closing accounts. From the press release: “the Company will shut down all credit card accounts to future use…
California Debt Blog: Judge’s Ruling Blow to MERS
Tim O’Reiley of the Las Vegas Business Press wrote “U.S. Bankruptcy Court Judge Linda Riegle has ruled that the Mortgage Electronic Registration System (MERS) could not represent lenders seeking to foreclose on delinquent homeowners already in bankruptcy unless it could…
California Debt Blog: NY AG Sues Debt Settlement Firms
New York has long been progressive in protecting consumer rights. When Eliot Spitzer was the Attorney General, he went after Wall Street and insurance companies. Now, Andrew Cuomo continues that legacy. New York’s AG has filed lawsuits against two debt…
California Debt Blog: Midland Funding on San Diego News
Midland Funding has made the news in San Diego. See, it is not just me who is unhappy with what they do. From the KGTV 10news.com website: “Because of the dubious debt, Dave couldn’t get security clearance to follow his…
California Debt Blog: Debt Collectors on Facebook
I have told you how debt collectors are using Myspace. Well, now a story about debt collectors on Facebook. (Caveat: I am in the video.) Debt collectors are getting more brazen. They are using any means possible to contact debtors….