Last week, the Consumer Financial Protection Bureau sued Freedom Debt Relief, the nations largest debt settlement services provider, claiming that the company repeatedly lied to its customers about the companys ability to negotiate debt settlements. According to the CFPB, Freedom Debt Relief collects fees from customers without settling their debts as promised, makes customers negotiate…
As of September, U.S. consumers owe $3.79 trillion in consumer debt. The average household with credit card debt owes nearly $17,000 on cards. In October, sources reported that credit card delinquencies increased for the third consecutive month, meaning that more people are unable to pay on time. “Many people struggle with debt, but they may…
Bailiffs were brought in by local authorities to collect debts more than two million times in a year, a charity has said. The report by the Money Advice Trust found that nearly six in 10 of the 2.14 million debts referred to enforcement agents in 2014/15 were for council tax, with more than 700,000 relating…
The National Village and Urban Community Fund Office will start 200 pilot projects nationwide to help tackle informal debts. Secretary-general Natee Klibthong said the project, which will collaborate with the Finance Ministry, the Bank for Agriculture and Agricultural Cooperatives and the Government Savings Bank, will start transferring informal debts to the fund — commonly known…
YOU might not realise it, but any unsecured debt you have can reduce your ability to borrow for a home loan. Unsecured debt refers to any type of debt that doesn’t need any form of security to back the loan. Credit cards are a popular example, with Australians currently owing about $32billion on credit cards…
SAN MATEO, Calif., Nov. 13, 2017 /PRNewswire/ — As revolving debt such as credit cards continues to increase, Andrew Housser, co-founder and CEO of Freedom Debt Relief (FDR), offers four signs to spot debt that’s becoming unmanageable. U.S. consumers owe $3.79 trillion in consumer debt. The average household with credit card debt owes nearly $17,000 on…
“The large amount of debt these households are carrying is a caution,” says Housser. “Owing that amount, with average interest rates on credit cards more than 16.7 percent, is unsustainable, especially when median household income is just $57,617.” Most people don’t realize they’re over their heads until it is too late, Housser says. Trouble signs…
HONG KONG (Reuters) – Chinas growth will be driven by education, autos, healthcare and e-commerce over the next two years, as Beijings push to transform its economy into a consumption-driven one pays off, a fund manager said, adding equities were a top pick for 2018. Thomas Kwan, chief investment officer of Harvest Global Investments, poses…
WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau said on Wednesday it filed a lawsuit against Freedom Debt Relief, the largest U.S. debt-settlement services provider, and its co-Chief Executive Andrew Housser, alleging that they deceived consumers. The CFPB said its suit alleges that Freedom charges consumers without settling their debts as promised, makes customers…
Californians have a serious problem with debt- Freedom Debt Relief has found that, according to data from the Bureau of Labor Statistics and the Bureau of Economic Analysis, residents of California have about 2.35 times more debt than they do income. The average per-resident debt of a California resident is about $65,740, and the average…