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Credit - Collection - Economic News

Wednesday, June 23, 2010

Judge Neil W. Wake dismissed ALL my claims against Trans Union and Verifacts

5/25/10: Arizona federal judge Neil W. Wake once again DISMISSED all my claims.

The filings are posted and if you have an interest in credit reporting and collection practices, check out my exhibits. I’ll post the links to the Verifacts and Trans Union / TrueCredit blogs hopefully soon.

Judge Wake is appointed for LIFE and there is NOTHING anyone can do other than to hope for the collapse of this corrupt system.  Of course judge Wake is NOT the only corrupt judge, we have only a FEW honest and competent judges and attorneys in America.

If you have to go to court, chances are, chances are you’ll get railroaded like EVERY consumer I know who litigated in federal court against credit bureaus without an attorney UNLESS you can settle BEFORE these crooks in robes get a chance to dismiss.

I know that many people depend on their credit rating and LIVE on credit, but I find that in many cases, it’s simply not worth the aggravation and EXPENSE to try to maintain ACCURATE credit reports.  With a little PLANNING you can minimize the impact of collections on your life.

The corrupt American legal system does NOT provide for any compensation for our time wasted on litigation.

When judge Wake HAD to award sanctions against Focus Receivables in previous litigation, he limited the amount of my sanctions to my travel costs. I lost two days PLUS the many hours I tried to get the Focus attorney to provide discovery answers. I had to file THREE motions. Not to mention the aggravation when judge Wake denied my first two motions to compel. 

Tuesday, June 22, 2010

Jail for debt, NO jail for ACA CEO Anderson’s LIES

Rozanne M. Andersen, CEO of the ACA International, the primary organization of debt collectors, had the NERVE to falsely state in her MN Star Tribune “Counterpoint: Avoid jail by paying off debts:”

Ignoring a debt will never make it go away.

Why is it legal to lie?

Ms. Anderson’s counterpoints and my comments:

Jail for debt – NO jail for lies. Ms. Anderson, CEO ACA, try ME!

I also posted about the AARP finally lobbying to make it more difficult for debt buyers to sue:

AARP lobby AGAINST collectors worries collection industry

Wednesday, June 02, 2010

Fairfax Oral & Maxillofacial Surgery failed to apply insurance payment resulting in default judgment

Another Liars and Cheats EXPOSED collection fraud documentary:

Fairfax Oral & Maxillofacial Surgery attorneys Cawthorn and Picard’s Illegal Collection Practices

Fairfax Oral & Maxillofacial Surgery FAILED to apply the Delta Dental insurance payment and SUED.  My client was going through divorce at the time and they obtained a default judgment.  Last year they filed for garnishment and my client then obtained the Delta benefits statement and provided it to their attorneys Cawthorn & Picard.  Fairfax Oral finally had to cough up the $1.454 Delta payment.

Incredibly, Cawthorn & Picard applied the payment as if my client had made the payment when she disputed. 

They did NOT credit interest and fees and NOBODY apologized to my client!

My client then called Cawthorn & Picard and she was PROMISED adjustment.

Instead, Cawthorn & Picard garnished her wages!

They received $1,614 for this $413.00 debt.  And then they had the NERVE to NOT report the judgment as satisfied.

And that’s why I got involved as I was helping my client with her credit.  If the judgment had been reported as PAID, I would not have gotten involved with this account.  But as my client explained what happened, it became apparent that she definitely overpaid this account.

After I contacted Cawthorn & Picard, they refunded $542.27.  However, that’s much less than they SHOULD have refunded and of course they SHOULD have reimbursed my $300 fee.

Why do creditors and lawyers think that only consumers need to pay for their mistakes?

And while Cawthorn & Picard CLAIM to have the judgment reported as paid, the credit bureaus verified the UNPAID status. 

Cawthorn & Picard REFUSED to provide a copy of the filed document.

So this dispute is still ongoing.  I will update at L & C. The full story is at the ABOUT page.

Friday, May 21, 2010

Dire predictions for economic meltdown starting this summer

“Economic Collapse – Martial Law – 24 Experts Warn of 2010 Meltdown” has been widely circulated on the web.  I have not researched whether all citations are accurate, but I am familiar with some of them. 

Quite frankly, I really don’t understand why anyone would seriously believe that all is well if we just pretend that nothing’s wrong.  Most people go about their business completely oblivious to reality.

I sure hope the predictions are wrong, but I would not at all be surprised if we saw a major economic downturn.

Economic Collapse – Martial Law – 24 Experts Warn of 2010 Meltdown
From: Tracy
Date: Sat, May 15, 2010 at 11:51 AM
Subject: Predictions for the Rest of 2010

Predictions For The Rest Of 2010

Bob Chapman
First 6 months of 2010, Americans will continue to live in the ‘unreality’…the period between July and October is when the financial fireworks will begin. The Fed will act unilaterally for its own survival irrespective of any political implications …(source is from insider at FED meetings). In the last quarter of the year we could even see Martial law, which is more likely for the first 6 months of 2011. The FDIC will collapse in September 2010. Commercial real estate is set to implode in 2010. Wall Street believes there is a 100% chance of crash in bond market, especially municipals sometime during 2010. The dollar will be devalued by the end of 2010.

Gerald Celente
Terrorist attacks and the “Crash of 2010”. 40% devaluation at first = the greatest depression, worse than the Great Depression.

Igor Panarin
In the summer of 1998, based on classified data about the state of the U.S. economy and society supplied to him by fellow FAPSI analysts, Panarin forecast the probable disintegration of the USA into six parts in 2010 (at the end of June – start of July 2010, as he specified on 10 December 2000

Neithercorps
Have projected that the third and final stage of the economic collapse will begin sometime in 2010. Barring some kind of financial miracle, or the complete dissolution of the Federal Reserve, a snowballing implosion should become visible by the end of this year. The behavior of the Fed, along with that of the IMF seems to suggest that they are preparing for a focused collapse, peaking within weeks or months instead of years, and the most certain fall of the dollar.

Webbots
July and onward things get very strange. Revolution. Dollar dead by November 2010.

LEAP 20/20
2010 Outlook from a group of 25 European Economists with a 90% accuracy rating- We anticipate a sudden intensification of the crisis in the second half of 2010, caused by a double effect of a catching up of events which were temporarily « frozen » in the second half of 2009 and the impossibility of maintaining the palliative remedies of past years. There is a perfect (economic) storm coming within the global financial markets and inevitable pressure on interest rates in the U.S. The injection of zero-cost money into the Western banking system has failed to restart the economy. Despite zero-cost money, the system has stalled. It is slowly rolling over into the next big down wave, which in Elliott Wave terminology will be Super Cycle Wave Three, or in common language, “THE BIG ONE, WHERE WE ALL GO OVER THE FALLS TOGETHER.”

Joseph Meyer
Forecasts on the economy. He sees the real estate market continuing to decline, and advised people to invest in precious metals and commodities, as well as keeping cash at home in a safe place in case of bank closures. The stock market, after peaking in March or April (around 10,850), will fall all the way down to somewhere between 2450 and 4125 during the next leg down.

Harry Dent (investor)
A very likely second crash by late 2010. The coming depression (starts around the summer of 2010). Dent sees the stock market–currently benefiting from upward momentum and peppier economic activity–headed for a very brief and pleasant run that could lift the Dow to the 10,700-11,500 range from its current level of about 10.090. But then, he sees the market running into a stone wall, which will be followed by a nasty stock market decline (starting in early March to late April) that could drive down the Dow later this year to 3,000-5,000, with his best guess about 3,800.

Richard Russell (Market Expert)
(from 2/3/10) says the bear market rally is in the process of breaking up and panic is on the way. He sees a full correction of the entire rise from the 2002 low of 7,286 to the bull market high of 14,164.53 set on October 9, 2007. The halfway level of retracement was 10,725. The total retracement was to 6,547.05 on March 9, 2009. He now sees the Dow falling to 7,286 and if that level does not hold, “I see it sinking to its 1980-82 area low of Dow 1,000.” The current action is the worst he has ever seen. (Bob Chapman says for Russell to make such a startling statement is unusual because he never cries wolf and is almost never wrong)

Niño Becerra (Professor of Economics)
Predicted in July 2007 that what was going to happen was that by mid 2010 there is going to be a crisis only comparable to the one in 1929. From October 2009 to May 2010 people will begin to see things are not working out the way the government thought. In May of 2010, the crisis starts with all its force and continues and strengthens throughout 2011. He accurately predicted the current recession and market crash to the month.

Lyndon Larouche
The crisis is accelerating and will become worse week by week until the whole system grinds into a collapse, likely sometime this year. And when it does, it will be the greatest collapse since the fall of the Roman Empire.

WALL STREET JOURNAL- (2/2010)
“You are witnessing a fundamental breakdown of the American dream, a systemic breakdown of our democracy and our capitalism, a breakdown driven by the blind insatiable greed of Wall Street: Dysfunctional government, insane markets, economy on the brink. Multiply that many times over and see a world in total disarray. Ignore it now, tomorrow will be too late.”

Eric deCarbonnel
There is no precedence for the panic and chaos that will occur in 2010. The global food supply/demand picture has NEVER been so out of balance. The 2010 food crisis will rearrange economic, financial, and political order of the world, and those who aren’t prepared will suffer terrible losses…As the dollar loses most of its value, America’s savings will be wiped out. The US service economy will disintegrate as consumer spending in real terms (ie: gold or other stable currencies) drops like a rock, bringing unemployment to levels exceeding the great depression. Public health services/programs will be cut back, as individuals will have no savings/credit/income to pay for medical care. Value of most investments will be wiped out. The US debt markets will freeze again, this time permanently. There will be no buyers except at the most drastic of firesale prices, and inflation will wipe away value before credit markets have any chance at recovery. The panic in 2010 will see the majority of derivatives end up worthless. Since global derivatives markets operate on the assumption of the continued stable value of the dollar and short term US debt, using derivatives to bet against the dollar is NOT a good idea. The panic in 2010 will see the majority of derivatives end up worthless. The dollar’s collapse will rob US consumers of all purchasing power, and any investment depend on US consumption will lose most of its value.

Alpha-Omega Report (Trends Forecast)
Going into 2010, the trends seemed to lead nowhere or towards oblivion. Geo-politically, the Middle East was and is trending towards some sort of military clash, most likely by mid-year, but perhaps sooner…At the moment, it seems 2010 is shaping up to be a year of absolute chaos. We see trends for war between Israel and her neighbors that will shake every facet of human activity…In the event of war, we see all other societal trends being thoroughly disrupted…Iran will most likely shut off the flow of oil from the Persian Gulf. This will have immense consequences for the world’s economy. Oil prices will skyrocket into the stratosphere and become so expensive that world’s economies will collapse..There are also trend indicators along economic lines that point to the potential for a total meltdown of the world’s financial system with major crisis points developing with the change of each quarter of the year. 2010 could be a meltdown year for the world’s economy, regardless of what goes on in the Middle East.

Robin Landry (Market Expert)
I believe we are headed to new market highs between 10780-11241 over the next few months. The most likely time frame for the top is the April-May area. Remember the evidence IMHO still says we are in a bear market rally with a major decline to follow once this rally ends.

John P. Hussman, Ph.D.
In my estimation, there is still close to an 80% probability (Bayes’ Rule) that a second market plunge and economic downturn will unfold during 2010.

Robert Prechter
Founder of Elliott Wave International, implores retail investors stay away from the markets… for now. Prechter, who was bullish near the lows in March 2009, now says the stock market “is in a topping area, “predicting another crash in 2010 that will bring stocks below the 2009 low. His word to the wise, “be patient, don’t rush it” keep your money in cash and cash equivalents.

Richard Mogey
Current Research Director at the Foundation for the Study of Cycles- Because of a convergence of numerous cycles all at once, the stock market may go up for a little while, but will crash in 2010 and reach all-time lows late 2012. Mogey says that the 2008 crash was nothing compared to the coming crash. Gold may correct in 2009, but will go up in 2010 and peak in 2011. Silver will follow gold.

James Howard Kunstler (January 2010)
The economy as we’ve known it simply can’t go on, which James Howard Kunstler has been saying all along. The shenanigans with stimulus and bailouts will just compound the central problem with debt. There’s not much longer to go before the whole thing collapses and dies. Six Months to Live- The economy that is. Especially the part that consists of swapping paper certificates. That’s the buzz I’ve gotten the first two weeks of 2010.

Peter Schiff (3/13/2010)
“In my opinion, the market is now perfectly positioned for a massive dollar sell-off. The fundamentals for the dollar in 2010 are so much worse than they were in 2008 that it is hard to imagine a reason for people to keep buying once a modicum of political and monetary stability can be restored in Europe. In fact, the euro has recently stabilized. My gut is that the dollar sell-off will be sharp and swift. Once the dollar decisively breaks below last year’s lows, many of the traders who jumped ship in the recent rally will look to re-establish their positions. This will accelerate the dollar’s descent and refocus everyone’s attention back on the financial train-wreck unfolding in the United States. Any doubts about the future of the U.S. dollar should be laid to rest by today’s announcement that San Francisco Federal Reserve President Janet Yellen has been nominated to be Vice Chair of the Fed’s Board of Governors, and thereby a voter on the interest rate-setting, seven-member Open Markets Committee. Ms. Yellen has earned a reputation for being one of the biggest inflation doves among the Fed’s top players.” Schiff is famous for his accurate predictions of the economic events of 2008.

Lindsey Williams
Dollar devalued 30-50% by end of year. It will become very difficult for the average American to afford to buy even food. This was revealed to him through an Illuminati insider.

Unnamed Economist working for US Gov’t (GLP)
What we have experienced the last two years is nothing to what we are going to experience this year. If you have a job now…you may not have it in three to six months. (by August 2010). Stock market will fall = great depression. Foreign investors stop financing debt = collapse. 6.2 million are about to lose their unemployment.

Jimmy “Doomsday”
DOW will fall below 7,000 before mid summer 2010- Dollar will rise above 95 on the dollar index before mid summer 2010- Gold will bottom out below $800 before mid summer 2010- Silver will bottom out below $10 before mid summer 2010- CA debt implosion will start its major downturn by mid summer and hit crisis mode before Q4 2010- Dollar index will plunge below 65 between Q3 and Q4 2010- Commercial real estate will hit crisis mode in Q4 2010- Over 35 states will be bailed out by end of Q4 2010 by the US tax payer End of Q4 2010 gold will hit $1,600 and silver jump to $35 an oz.

George Ure
Markets up until mid-to-late-summer. Then “all hell breaks lose” from then on through the rest of the year.

====

There you have it.

Tuesday, May 04, 2010

New Liars and Cheats EXPOSED blog: Experian refusal to investigate factual credit disputes

Here is the repost from the new Liars and Cheats EXPOSED blog. Unfortunately, the archaic software here doesn’t copy LINKS, so you have to go to the new blog FTC complaint about Experian refusal to investigate factual credit disputes to view the posted correspondence and disputes.

My client actually INCLUDED a copy of his drivers license and utility bill with his factual disputes AND Experian provided him with his credit report prior to receiving the disputes.

Trans Union and Equifax processed the disputes, but on 1/20/10, Experian not only refused to investigate, but also made the most bizarre and FALSE accusation:

We received a suspicious request regarding your personal credit information that we have determined was not sent by you. This could be deemed as deceptive or fraudulent use of your information. We have not taken any action on this request. Any future requests made in this manner will not be processed and will not receive a response. Suspicious requests are taken seriously and reviewed by Experian security personnel who will report deceptive activity, including copies of letters deemed as suspicious, to law enforcement officials and to state or federal regulatory agencies.

The SCAN of the 1/20/10 Experian notice.

We hoped that the law enforcement and regulatory agencies would contact my client after receiving reports of this fraud from the Experian security personnel.  However, my client was not contacted by anyone.

On 4/19/10, my client submitted his complaint to the Federal Trade Commission.

On 5/3/10, he wrote to Experian with the following requests:

* Identification of all law enforcement and agencies Experian contacted regarding his disputes.

* The Experian explanation of how it determined that fraud was committed.

* Deletion of the incorrectly reported and disputed LVNV accounts (this will be addressed in detail at the new LVNV blog)

* Correction of the student loans.  This is a known systemic problem as all CRAs report the “high balance” as the INITIAL loan amount and they refuse to include the DEFERRED interest that’s added to the loan amount every month.In 9/08 I explained in detail how this INCORRECT reporting lowers FICO scores:

Credit bureaus and Sallie Mae REFUSE to correct student loan high credit reporting

* Deletion of several derogatory accounts because Experian does NOT disclose the scheduled deletion date.  Presumably, the accounts are not scheduled for deletion.

I can’t wait for the response from Experian and it sure would be nice if the FTC actually contacted Experian as per their new policy, for details please read How to File Complaints with the FTC and Other Regulators.

Of course we will update with the results of disputes at the Liars and Cheats EXPOSED blog:
FTC complaint about Experian refusal to investigate factual credit disputes

I’d like to hear from others who received this bizarre Experian decline to investigate and you can post comments at Liars and Cheats EXPOSED.