Author Archives: Site Administrator
Report Indicates 90% of Highest-Risk Loan Borrowers Were Not Enrolled in Affordable Repayment Plans
Over the past decade, the student loan market has experienced significant growth. As of today, the combined total for outstanding federal and private student loan debt now exceeds $1.4 trillion, with the majority of this being composed of federal loans. The Department of Education estimates that more than 8 million federal student loan borrowers… Read More »
What Happens When You Are in Default on Your Federal Student Loan
Student loan defaults are rising at alarming rates. Pursuant to a recent report by the Department of Education, the number of borrowers who defaulted on their student loans increased seventeen percent (17%) from 2015 to 2016. In 2016, about 42.4 million Americans owed around $1.3 trillion in federal student loan debt. Generally, a borrower… Read More »
Nation’s Largest Student Loan Servicer is in Deep Water
On January 18, 2017 the Consumer Financial Protection Bureau (“CFPB”) filed a complaint in the Middle District of Pennsylvania against Navient, the nation’s largest student loan servicer. Navient, formerly known as Sallie Mae, Inc., services loans for over 12 million borrowers, including over 6 million customer accounts pursuant to a contract with the United… Read More »
Malicious Prosecution Claims Are Not Barred by the Litigation Privilege
On February 9, 2017, the Florida Supreme Court issued and opinion in Debrincat v. Fischer, 42 Fla. Weekly S141a (February 9, 2017), holding that the claim of malicious prosecution that was based upon adding a party to a civil lawsuit is not barred by the litigation privilege in Florida. The ruling clarified the muddy… Read More »
Odometer Rollback Fraud
Imagine you saved your money wisely for that car that you have always wanted, it is that shiny convertible that you have been dreaming about cruising around town with the top down. You realize the depreciation issues with purchasing a new automobile so you decide to go the used/previously owned route. You find the… Read More »
The ABC’s of Florida’s Lemon Law
Consumers in Florida often times get confused as to whether they have any Lemon Law rights. Chapter 681, Florida Statutes, titled Motor Vehicle Sales Warranties (“Florida’s Lemon Law”), sets forth remedies to consumers that purchase or lease new vehicles with “nonconformities” that have not been corrected by the vehicles manufacturer, or its authorized service… Read More »
What Is the Equal Credit Opportunity Act?
Consumers apply for credit every day in the United States, from paying for education, purchasing a car, to purchasing a house. The Equal Credit Opportunity Act (“ECOA”), 15 U.S.C. 1691 et seq., protects consumers from unlawful credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because a… Read More »
What Is the Fair Credit Reporting Act?
The Fair Credit Reporting Act (15 U.S.C. § 1681 et seq.) is the federal statute that regulates the credit reporting industry, including the national credit bureaus Equifax, Experian and Trans Union. The Fair Credit Reporting Act, or “FCRA”, was enacted to protect consumers from the damage that errors in their credit reports could cause…. Read More »
What is the Telephone Consumer Protection Act?
The Telephone Consumer Protection Act, 47 U.S.C. § 227 (“TCPA”) is a federal statute that was enacted in 1991 to address concerns relating to telephone solicitations. Congress passed the TCPA in 1991 in direct response to “[v]oluminous consumer complaints about abuses of telephone technology—for example, computerized calls dispatched to private homes.” The TCPA has… Read More »
The Consumer Financial Protection Bureau Levies Biggest Fine in Its History
The Consumer Financial Protection Bureau (CFPB) is a creation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, passed by Congress on July 21, 2010. Pub. L. No. 111-203, 124 Stat. 1376 (2010) (Dodd-Frank). Title X of Dodd-Frank, titled the Consumer Financial Protection Act of 2010 (CFP Act), established the CFPB as an… Read More »
