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March 2016 Archives

Recent ruling could impact Texas for-profit college students

At a March 25 press conference in Boston, the head of the U.S. Department of Education said that there was evidence of fraud at 91 separate campuses linked to Corinthian Colleges. When the for-profit operator of those schools closed in 2014, it had 70,000 students, and it was estimated that 350,000 attended the schools since 2010. The company allegedly recruited homeless students and advertised nonexistent programs in an effort to lure students to its schools.

Debt relief company misled, overcharged customers

Some Texas customers of debt relief company Morgan Drexen may be due some financial restitution from the company after a federal district court ruled that it had falsified evidence. However, because the company has gone bankrupt, any payments will happen through the bankruptcy process.

The crippling cost of credit card debt

Most Texas residents understand that unsecured revolving debt can be an expensive way to borrow, but they may be surprised at just how costly it can be to maintain a balance on high-interest credit cards. The amount that Americans owe to credit card companies has grown by almost $100 billion since 2010, and it now sits at over $900 billion. Only minimum payments are made in many cases, and interest rates are sometimes 19 percent or more. While many Americans pay their credit card bills in full each month, households that do carry a balance owe an average of $7,500.

Lawmakers introduce Medical Debt Relief Act

Texas residents may be aware that medical bills can sometimes continue to have an impact on credit scores long after they have been settled or paid off, and this may make borrowing more difficult to obtain and more expensive to pay back for consumers. The Medical Debt Relief Act was introduced in February 2016 by five Democratic senators, and it has also been submitted with bipartisan support to the U.S. House of Representatives. The legislation is supported by dozens of organizations across the country including groups advocating for the rights of patients and consumer watchdog associations.

Dealing with credit card debt

Credit card debt can cause a lot of problems for Texas consumers. The average amount of credit card debt carried by households across the country is $5,700. When people have high interest rates and ballooning credit card balances, it can lead to severe credit problems.

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Sherman, Texas 75090

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