You’ll note that these costs are only for the first two months of use. What a rip-off!! I’m glad that at least companies like Wal-Mart are keeping the costs low.

Previously, I discussed how cash advance and payday loan schemes affected consumers, this scheme is similar and much more invasive. These types of scams hurt everyone. I’m willing to bet that as the new federal regulations regarding banking get implemented, you’ll see more of these unregulated types of cottage industries emerge.

My colleague, Dan Nunley, posted a link to a great video addressing prepaid debit cards. I encourage you to view the video, and post your comments about this scheme.

Hat tip: Dan Nunley

Prepaid Debit Cards is a post from: Oklahoma Legal Issues. You can read the original post by visiting our site. Please visit our homepage for more information about our law firm. Absolute Legal Services, LLC is an Oklahoma City law firm helping people with legal issues in personal injury actions, consumer claims, immigration, and social security. Please see our services page for more information.

This policy served two purposes: 1) debtors are usually less-than-honest about disclosing their identities, and 2) the second "witness" would confirm the suspicion. If we suspected that the person was telling the truth, we were advised to ask probing questions about the length of time the individual had the number, whether the individual knew the debtor, etc. Most of the people were nice.

Admittedly, on a couple of occassions I’d contact some real jerks. In an attempt to be spiteful, I’d leave the number intact for a 2nd, 3rd, or 4th call. This behavior would be sure to rile up the person, and I could feel I got some vengence.

This type of behavior is illegal! A company has a right to be suspicious of someone they’re calling (again, debtors have incentive to lie), however, the company cannot continue to harrass the individual. By making the phone ring in a repeated manner, the collection company violates a fundamental principle of the Fair Debt Collection Practices Act.

I recently had "karma" come and strike me back. We’ve had our number for over 4 years, and we knew the family who had the prior number. In total, the number has been linked at our current address for over 8 years. However, one hot Sunday afternoon we began receiving calls from Washington Mutual, seeking an individual who was delinquent on their mortgage (yes, they disclosed that information – a violation of the FDCPA).

I politely explained to the agent that I didn’t know the individual, we had the number for 8 years, our address was in Oklahoma. The agent assured me we wouldn’t receive calls.

About 2 hours later though, Washington Mutual called again regarding the delinquent mortgage. I advised the agent of the situation and my previous conversation, and promptly asked for a supervisor. For about 20 minutes, the agent refused to let me speak with a supervisor. He finally relented when I threatened a lawsuit. The supervisor assured the same mistake wouldn’t happen again.

It did. For the next 5 days we received no less than 5 calls from Washington Mutual trying to collect on the delinquent debt, and going through the same prior routine.

THIS WAS VERY ANNOYING AND DISTRACTING. Fortunately, it doesn’t have to be bad. The benefit of the FDCPA is some of the "bite" that is involved.

When a collection agency continues to dial a wrong number, each instance is a violation, which could entitle you to a damages award of up to $1,500.

In order to receive the payout, you must diligently document the calls, messages, and conversations. My advice is to create a journal or ledger where you’ll write the caller-id information, including the date, time, and length of the call. Since I was able to speak with an individual, I documented each conversation with a hand-held recorder. I’d start each call with the statement, "It’s X o’clock, and I’m recording this call from Washington Mutual." I’d then instruct the agent to continue the call.

Finally, you should send a certified letter to the company informing them of your requests to stop the phone calls and that you are recording all future calls. You may also contact the Fair Trade Commission and your state’s Attorney General’s office.

It’s important to not ignore this behavior. You can, and should, fight for your right to be free from harassing phone calls.

If you, or someone you know, receives repeated phone calls, contact our office for assistance.

This is a Wrong Number! is a post from: Oklahoma Legal Issues. You can read the original post by visiting our site. Please visit our homepage for more information about our law firm. Absolute Legal Services, LLC is an Oklahoma City law firm helping people with legal issues in personal injury actions, consumer claims, immigration, and social security. Please see our services page for more information.

In fact, I think I was so naive about the credit process and the use of credit cards because my parents told me of their tragic plight in 1980 of trying to get Sears, Montgomery Ward, and JC Penney to lend them money. The fact, they told me, was that they could only get approved for a $500 credit limit by one store.

How times have changed! I think my first card, I believe Circuit City, had a $2,500 limit, and now I have 3 cards with $10,000-plus limits. I think it’s a tragic aspect of society.

I wanted to highlight this article by Michelle Singletary, that basically puts things back into perspective. Ms. Singletary attacks some of the basic stigmas we’ve come to believe, and helps us realize the importance of having (and exercising) common sense in regard to credit. Ms. Singletary points out that the new credit restrictions will  (hopefully) have some profound effects on the deceptive practices used by credit card companies.

I think, as Ms. Singletary notes, we’ve replaced the adage, "use it up or do without" for the "now thrill."

Credit Card Restrictions is a post from: Oklahoma Legal Issues. You can read the original post by visiting our site. Please visit our homepage for more information about our law firm. Absolute Legal Services, LLC is an Oklahoma City law firm helping people with legal issues in personal injury actions, consumer claims, immigration, and social security. Please see our services page for more information.

In tough economies, a lot of people are concerned about the consequences of not paying credit card debt, in lieu of other, more important, bills. Quite simply, if you can stand being contacted at an almost constant rate, the worst thing that can happen to you is a judgment.

Although this doesn’t sound too bad, you must consider that the problems with judgments is their dischargeability in bankruptcy. Once a judgment is taken against you, the creditor has changed it’s position from an unsecured creditor (in the case of a particular credit card companies), to a secured creditor. This change in position can have drastic effects on whether you have to pay back the debt.

Moreover, and regardless of your decision to file bankruptcy, a judgment entitles the creditor to garnish all of your property, income, or savings that the creditor can get. In Oklahoma there are maximum amount for the garnishment, but as a general rule, the creditor will want to receive the highest payment in the shortest amount of time.

By taking precautions (like not ignoring legal documents) prior to judgment, you can help preserve some of your rights, and not risk helping the creditor’s fight against you.

If you’re having problems paying your bills, or negotiating your debt, contact our office immediately! Don’t miss opportunities to help aleviate some of the problems, and get back on track.

You may call (405.748.0318) or email (contact@absolutelawfirm.com) to set up your free consultation.

What Happens if I Don’t Pay My Credit Card? is a post from: Oklahoma Legal Issues. You can read the original post by visiting our site. Please visit our homepage for more information about our law firm. Absolute Legal Services, LLC is an Oklahoma City law firm helping people with legal issues in personal injury actions, consumer claims, immigration, and social security. Please see our services page for more information.

One of the stories I heard last night was criticism for the bill. A credit card advocate argued that the new changes were uncessary because "the companies already police themselves." My only retort was to ask, "when has any industry policed themselves to their own detriment?"

I applaud the revisions and new additions. I think that there’s a lot of excellent provisions that will cease many of the questionable, and possibly deceptive, practices.

Credit Card Reform is a post from: Oklahoma Legal Issues. You can read the original post by visiting our site. Please visit our homepage for more information about our law firm. Absolute Legal Services, LLC is an Oklahoma City law firm helping people with legal issues in personal injury actions, consumer claims, immigration, and social security. Please see our services page for more information.

When I ran across this New York Times article, I couldn’t help but chuckle. The analysis and insight is exceptional.

The article features a debt collector, and discusses the psychological aspects of debt collection. The article points out that there’s a broad mix of relationship building, psychology, and fundamental consumer behavior. You probably already knew that most companies collect vast amounts of data about you, and use that in their advertising and product placement. The shocking thing, as the article notes, is just how specific, and how accurate this information is.

The thing that made me chuckle about the collector’s experience was how much it mirrored my own debt collection experiences. We’d receive continual training and development seminars on improving our collection strategies, thereby improving our commission statistics. The training involved intense role-playing activities, discussions regarding successful collection tactics, and discussions about consumer psyche and behavior.

I suggest that you read this article, and if you’re not "scared of ‘The Man’" already, you will be. After reading this, consider if it’s any wonder that we’re leery of banks who take our money, then use these practices against us.

Psychology 101 – Collections Style is a post from: Oklahoma Legal Issues. You can read the original post by visiting our site. Please visit our homepage for more information about our law firm. Absolute Legal Services, LLC is an Oklahoma City law firm helping people with legal issues in personal injury actions, consumer claims, immigration, and social security. Please see our services page for more information.

There’s a new post at the Bankruptcy Law Network, which if true/confirmed, validates my reasons for despising Bank of America. The post talks about one woman "who did everything right and nothing ‘wrong’", but whose interest rates BofA decided should increase. I hate this kind of action, and it’s these kinds of senseless fees, which made me transfer my account. We started with BofA, but soon discovered they charge a monthly fee (who does that anymore) to have our bank account there. My question is, "isn’t it my money you’re loaning out at semi-extortionist rates, so shouldn’t my account be free anyway?" Well, apparently not at BofA, and apparently not on their credit card accounts either.

I guess, as the author notes, this is just another way to say thank you for giving us 999 gazillion dollars.

BTW: all you gestapo-like credit companies who’ll now blackball me, I’m ready.

I Hate Getting Ripped Off! is a post from: Oklahoma Legal Issues. You can read the original post by visiting our site. Please visit our homepage for more information about our law firm. Absolute Legal Services, LLC is an Oklahoma City law firm helping people with legal issues in personal injury actions, consumer claims, immigration, and social security. Please see our services page for more information.

Well, that’s not the case with some of the collectors in this story. Their tactics go well beyond the rude mark, they’re illegal.

Enjoy. If you’re having problems like these folks, give an experienced collection attorney a call. Our office is always available to help. Send an email (contact@absolutelawfirm.com) or give us a call: (405) 748-0318.

Horrible Debt Collection Tactics is a post from: Oklahoma Legal Issues. You can read the original post by visiting our site. Please visit our homepage for more information about our law firm. Absolute Legal Services, LLC is an Oklahoma City law firm helping people with legal issues in personal injury actions, consumer claims, immigration, and social security. Please see our services page for more information.

Quite simply, bankruptcy is the least painful, and least depressing way to handle your debts. What’s more, with bankruptcy, you can get the benefits of death (ie: never having to hear from your creditors again) minus the disadvantage (ie: cramped quarters).

However, before you’re off to debt-free bliss, there are some considerations you must make. A good bankruptcy attorney will be able to direct you on the considerations, but here are a few (you might also check out this post for some information):

1. Are you filing bankruptcy as a business or a person?
2. What "chapter" will you file?
3. Have you taken, or will you take, a debt counseling course?
   
   
4. Have you made any payments to creditors within the previous 90 days?
   
   
5. Have you given any property to a friend or relative in anticipation of filing bankruptcy?
   
   
6. What stuff do you want to keep or get rid of, if you’re forced to choose?
   
   
7. Who are you going to hire? (Here’s a great post and another, if you’re considering "going it alone")
   
   
8. Do you have all of your documents (tax, paychecks, list of creditors)?
   
   

The basic thing is that you get yourself prepared to get the information to your attorney. Gather everything together and get prepared to relieve some stress. Finally, here’s a great article about what to expect when you’re getting ready for bankruptcy.

Absolute Legal Services, LLC is a debt relief agency.  This firm helps people file for bankruptcy relief under the Bankruptcy Code.  The bankruptcy services or benefits of bankruptcy provided by the firm are with respect to bankruptcy relief under Title 11 of The United States Code. [Title 11, U.S.C.A. Section 528(a)(3) and (4).]

Bankruptcy Planning is a post from: Oklahoma Legal Issues. You can read the original post by visiting our site. Please visit our homepage for more information about our law firm. Absolute Legal Services, LLC is an Oklahoma City law firm helping people with legal issues in personal injury actions, consumer claims, immigration, and social security. Please see our services page for more information.

Good News for Consumers is a post from: Oklahoma Legal Issues. You can read the original post by visiting our site. Please visit our homepage for more information about our law firm. Absolute Legal Services, LLC is an Oklahoma City law firm helping people with legal issues in personal injury actions, consumer claims, immigration, and social security. Please see our services page for more information.