Tag: FTC

Bankruptcy Law, Credit, Timothy Kingcade Posts

FTC Shuts Down Fraudulent Affiliate Company

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The Federal Trade Commission (FTC) recently had a hand in shutting down a fraudulent company impersonating itself, called “FTC Credit Solutions.” The company was allegedly using false connections with the FTC to market credit repair services to Spanish-speaking consumers.

The company would contact consumers by phone or claim in advertisements on the radio or Internet that it was affiliated with or licensed by the FTC. The employees told consumers that they could remove negative information from their credit reports; guaranteeing customers their credit scores would be 700 or more within six months of service.

FTC investigators called the fraudulent company posing as consumers, and discovered employees were misrepresenting the company as “working with the Federal Trade Commission.” Employees also falsely promised they could “delete” or “get a pardon” for consumers’ debts.

In addition to making false statements about the affiliation with the FTC, the company allegedly charged consumers upfront fees for “credit repair services,” and sent false information to major credit bureaus. The company and its employees allegedly violated the FTC Act by misrepresenting their affiliation with the FTC. They also allegedly violated the Credit Repair Organizations Act by charging upfront fees for credit services.

Click here to read more on the FTC shutting down a fraudulent affiliate company.

If you are in a financial crisis and are considering filing bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.

Credit, Timothy Kingcade Posts

One in Ten People Denied Jobs Due to Employer Credit Checks

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A recent survey from Demos found that one in four unemployed people were required to go through a credit check when applying for a job. The survey also found that one in ten people were denied employment due to information on their credit report. The survey was conducted on 1,000 low and middle-income households. Most people believe credit checks are only required when applying for senior level positions; however, the study found that credit checks are commonly used for entry-level or low-paying positions as well. It is likely that some workers denied a position due to their credit score have errors on their report. According to the Federal Trade Commission, one in five consumers has an error on their credit report.

Demos also surveyed the reason for bad credit and found that two common factors for bad credit scores are unemployment and the loss of health insurance. The report attributes many of those with bad credit to poor misfortune and a suffering economy and says little of how these people would perform at work. The survey also found that minorities are affected more by these credit checks than white households. African-American households had an average unemployment rate of 14% at the end of 2012 and Hispanic households had an average of 10%. These are much higher than white households, which were at 6% at the end of 2012, according to the Economic Policy Institute.

To read more on this story visit: http://money.cnn.com/2013/03/04/pf/employer-credit-checks/index.html

If you are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Timothy Kingcade Posts

Debt Relief Companies Bending the New FTC Rules

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Debt settlement companies do not have the best reputations. Horror stories of consumers paying thousands of dollars while receiving no benefit from these companies run rampant. Still, progress was made in September, with the Federal Trade Commission (FTC) imposing new regulations on debt relief and consolidation companies. These rules sought to protect vulnerable consumers looking to avoid bankruptcy and relieve their mounting credit card debt.
Essentially, the rules prohibited debt settlement companies from misleading consumers through advertisements that made outlandish claims through telemarketing, such as touting the ability to drastically cut or eliminate debts. Another important rule bans these companies from charging any upfront fees. Therefore, they are unable to collect any money before they have negotiated debts on behalf of the consumers.
If you have any questions on this topic or are in need of a financial fresh start, please contact our experienced team of bankruptcy and foreclosure defense attorneys at (305) 285-9100. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.