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Author: Amy Loftsgordon

Debt Collectors Will Soon Have More Leeway to Contact You Through Text, Email, and Social Media

Debt Collectors Will Soon Have More Leeway to Contact You Through Text, Email, and Social Media

The coronavirus (COVID-19) crisis has severely transformed everyone’s lives. Many have suffered a reduction in income or job loss altogether and are finding it difficult, if not impossible, to keep with mortgage payments, credit card bills, and other debts. If you default on payments for an unsecured debt, like a credit card, department store, or medical debt, the creditor might send the debt to a collection agency.  Debt collectors have a well-earned reputation for using aggressive tactics, like contacting debtors…

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$7.5 Million Google Settlement: How to Get Your Piece (or Crumb) of the Pie

$7.5 Million Google Settlement: How to Get Your Piece (or Crumb) of the Pie

Google recently settled a class-action lawsuit over its now-defunct Google+ social media service. This social network, designed to compete with Facebook, had a software glitch that potentially exposed the personal information—including names, email addresses, occupations, and ages—of up to 500,000 users since 2015. Google discovered and fixed the problem in 2018, but initially decided not to go public with it. After learning of the data breach, plaintiffs Matthew Matic, Zak Harris, Charles Olson, and Eileen M. Pinkowski filed a lawsuit…

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Wells Fargo Puts Mortgage Customers in Unwanted Forbearance Plans

Wells Fargo Puts Mortgage Customers in Unwanted Forbearance Plans

In 2016, Wells Fargo employees created roughly 3.5 million fake accounts to receive sales-based incentives. In 2018, a computing miscalculation caused hundreds of Wells Fargo customers to miss out on loan modifications and, perhaps, ultimately lose their homes to foreclosure. Now, Wells Fargo mortgage customers in at least 14 states have reported that they were inappropriately placed in CARES Act forbearances. (This kind of forbearance puts a pause on mortgage payments for borrowers hurt by the coronavirus pandemic for up…

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Navient Settles Lawsuit Over Student Loan Forgiveness Program

Navient Settles Lawsuit Over Student Loan Forgiveness Program

Congress created the Public Service Loan Forgiveness Program (PSLF) to provide student loan discharges to those who work in the public interest, such as for a government agency or a nonprofit organization. For example, if you’re a full-time employee of a public school system, your employment would meet the requirements for PSLF, regardless of whether you’re a teacher, administrator, or support staff. Under this program, the remaining balance on your eligible loans is forgiven after you make 120 qualifying monthly payments under…

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Why You Should Check Your Credit Regularly During the Coronavirus Pandemic

Why You Should Check Your Credit Regularly During the Coronavirus Pandemic

If the coronavirus (COVID-19) outbreak has hurt you financially, working out a deal with a creditor or lender to skip payments or pay less than the required minimum amount could impact your credit even though, in most cases, it shouldn’t. So, you need to be proactive in reviewing and protecting your credit during this national emergency. Credit Protections Under the CARES Act Under the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, if you make an agreement with a…

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