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Receiving a call, email or letter from a company purporting to be a debt collector can spark alarm. Before disclosing any information, look for these eight signs of a fake debt collection scam. 1 ...
There are reputable credit repair companies, but not every company offering credit repair services is legitimate. Warning signs of a credit repair scam include demanding payment upfront or ...
The area of focus SoloSuit landed on, however, was debt lawsuits. Every year, 10 million Americans get sued for debt and 9 million automatically lose because they aren’t able to figure out how ...
The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards. The suit was filed because of price fixing and other allegedly anti-competitive trade ...
In 2011, a lawsuit against MyLife said the company was engaging in false advertising practices, similar to what was alleged in a 2008 Classmates.com class-action lawsuit. [10] [11] The suit also accused the MyLife of false solicitation by offering monthly memberships and then charging member's credit cards at the annual rate. [12]
Friendly fraud. Friendly fraud, also known as chargeback fraud occurs when a consumer makes an online shopping purchase with their own credit card, and then requests a chargeback from the issuing bank after receiving the purchased goods or services. Once approved, the chargeback cancels the financial transaction, and the consumer receives a ...
As of the end of 2023, 6.36% of U.S. credit card debt was considered more than 90 days delinquent. The delinquency rate is now at the highest in the U.S. it has been in over a decade.
Today, the FTC charged several companies and individuals with participation in an elaborate shell game from 2010 that was really just a $275 million dollar credit card scam.