- Demand to see the invoices and
Will filing bankruptcy affect my mortgage NMLS license?
I recently returned to work after being a stay at home mom. When I quit working I stopped paying on one large credit card. They took this all the way to judgement and are now trying to garnish my wages with my new employer. I am a mortgage processor and am wondering if I file
$25,000 in credit card (and a loan) debt. Looking for options
Here is the question posed in today’s Reddit debt column.
“So, as the title says. In total, between a few credit cards and a personal loan through Lending Club I owe about $25,000 in debt. Never missed a single payment in my life, never even
American Express v Scheer: Account Stated Nightmare Comes to Nebraska
I continued to be amazed at the inability of banks to produce a copy of the actual credit card agreement signed by their customers when suing on a defaulted account. The inability or unwillingness to produce a signed agreement is truly astounding. How can a bank obtain a judgment for a debt on a written contract without production of the contract itself?
The answer to that question is that banks are allowed to rely on the monthly billing statements they send their customers as proof of the debt without having to produce a signed copy of the written agreement. This action is called an Account Stated lawsuit, and for the first time the Nebraska court system has issued a ruling specifically allowing these lawsuits to proceed in the case of American Express Centurian Bank v. Scheer, 25 Neb. App.784 (2018).
Continue Reading American Express v Scheer: Account Stated Nightmare Comes to Nebraska
Has Wells Fargo Committed Bankruptcy Fraud?
Wells Fargo Bank has admitted to opening millions of customer accounts and credit card accounts without customer authorization since 2005. Stories have emerged of a bank gone wild where employees working in an intense sales culture felt pressured to open new accounts to meet sales quotas.
Wells Fargo has agreed to pay $185 million in
Time to Tax Carpetbagger Debt Buyers?
Junk debt buyers are the modern version of a post Civil War carpetbagger as they suck money out of every county in the State of Nebraska without contributing anything in return. I cannot think of a single positive thing these debt collectors contribute to our state.
Junk debt buyers typically purchase defaulted credit card accounts
Dave Ramsey’s Debt Snowball
The most famous name in the getting out of debt industry is Dave Ramsey. As a young man Dave himself was in a pile of debt and wound up filing bankruptcy. The pain of that experience lead him on a quest to learn about personal finance and he began a career in advising others how
Does Credit Counseling Work? A review of the Cambridge Transparency Report
Cambridge Credit Counseling has released its 8th Transparency Report, the only such report available in the credit counseling industry.
One of the more disturbing aspects of the nonprofit credit counseling industry is the complete lack of disclosure about the success rate of their programs. In recent years the industry has come under fire for
Capital One Bank vs. Lehmann: Vacating a Default Judgment in Nebraska
The Nebraska Court of Appeals has issued an important decision that clarifies the right to set aside default judgments, regardless of how old the judgment is, when the defendant had no actual service of the lawsuit papers. Well, the issue is now clear, except when it is not clear, which is to say I’m confused
Nebraska Statute of Limitations: When debts are too old to collect.
As the old saying goes, if you don’t use it you lose it. The “it” in this case is the right to sue someone for an unpaid debt. Every state has a set of laws that create a deadline for creditors to sue for an unpaid debt. In Nebraska there are two key laws that