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by Sonya Smith-Valentine, Valentine Legal Group on March 17, 2010

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Rebate Cards Not Part of Credit Card Reform Law

by Sonya Smith-Valentine, Valentine Legal Group on February 22, 2010

While the new credit card reforms covered a large number of items, rebate cards were not on the list.   More and more companies are now providing rebate on rebate cards that come with monthly fees and a short life.   Many of the terms on the rebate cards are not disclosed to consumers until they receive the cards in the mail. 

While the new credit card laws establishes new requirements for gift cards and prepaid cards like expiration dates of at least 5 years and no penalties for not using the cards in the first year, rebate cards were not given the same protections.

So the moral of the story is to use your rebate card as soon as possible.  Don’t save them up as they can lose their value and expire quickly.

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How Long Should You Keep Those Documents?

February 16, 2010

We all have various important documents around our house that we know we should keep.  But for how long?  Sometimes it hard to figure out the answer to that questions but here are some guidelines:
Deed and mortgage documents – Forever
Medical bills – At least 3 years
Contracts – At least 6 years
Insurance Policies – At least [...]

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Mortgage Assistant Pleads Guilty for Committing Identity Theft

February 10, 2010

In his plea agreement, 32-year-old Jason Alan Tauer in Minnesota admitted to stealing the files of 93 people who’d made loan applications at Ameriquest Mortgage, where he worked in 2005. He also admitted to getting information from stolen mail and things he took from gym lockers.
Tauer then used the information to make fake identification documents and checks, [...]

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Midland Funding – Cease & Desist in Maryland

February 5, 2010

The Commissioner of Financial Regulation in Maryland issued a cease and desist order against a group of San Diego-based business entities alleged to have engaged in large-scale unlicensed and illegal collection activities in Maryland.
Ordered to immediately stop all collection activities in Maryland, including but not limited to suspending all current legal actions the companies have [...]

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FDCPA Case Heard by Supreme Court

January 26, 2010

The U.S. Supreme Court heard oral argument yesterday in an FDCPA case (for the first time since 1995).  The case is a direct challenge to a certain type of bona fide error defense under the Fair Debt Collection Practices Act.  As issue is whether a debt collector’s legal error qualifies for the bona fide error defense [...]

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Mann Bracken Demise

January 19, 2010

Mann Bracken, one of the biggest debt collection law firms, has closed down its 24 offices nationwide.  There was little to no warning on the closure. 
The chief judge of Maryland’s district court ordered that tens of thousands of debt-collection lawsuits involving the firm be dismissed and state financial regulators revoked its license.
Man Bracken has blamed the [...]

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Credit Repair Fraud Charges

December 23, 2009

Credit repair maybe needed for many consumers. With the financial struggles that many Americans have been facing, late pays, judgments, charge offs, and even bankruptcy are now on consumers credit reports. With the need to have near perfect credit to open bank accounts, secure a loan, obtain employment, or to acquire an apartment, bogus credit [...]

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Credit Cards Canceled Without Consumers Being Notified

December 15, 2009

Many credit cardholders in Maryland as well as across the United States have been having their Citi and Shell credit cards canceled without any notification from the card issuer. Many customers are becoming irate when they go to use their card for emergencies, but were denied because their accounts have already been closed.
Many credit card [...]

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Harrisburg, PA Collection Agency Employees And Others Indicted

December 9, 2009

A Harrisburg, PA collection agency and 15 individuals were charged with 639 count indictment due to a scheme that involved identity theft, pick-pocketing, and disguises.
The fraudulent scheme transpired during the period of October 2008 through October 2009. This scheme involved $600,00 of stolen funds from at least 60 different accounts.
The conspiracy process started when one [...]

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