Have you ever received a letter from a company you’ve never heard of, demanding payment for an old medical or utility bill? Or a scary letter listing a debt owed to a company you’ve never heard of like Midland Funding, LLC or Portfolio Recovery Associates? When you are unable to maintain payments on a bill, it often gets sold to…
Richard has been helping people get out of debt for almost 24 years! Born in Springfield, Massachusetts, he opened an office right in his hometown as well as several other offices across Massachusetts so he could help the greatest number of people possible. With this passion to help others most in need, Richard helped to start MDRF back in 2011….
Consumer Protection enforcement is about to come back in a big way, just in time to deal with the economic fallout we all face from the Pandemic. The Consumer Financial Protection Bureau was created in 2010 to deal with the aftermath of the 2008 recession, but a lot of its powers and effectiveness were reduced under the guidance of the previous president. This CNBC article provides an overview of what we can expect from CFPB under President Biden’s term.
Is there going to be an overwhelming onslaught of consumer bankruptcy filings? Many experts are predicting an incredible surge in personal bankruptcy filings, caused by the economic disaster resulting from the Coronavirus Pandemic. When the shutdown began bankruptcy filings sharply decreased. The Executive Director of the American Bankruptcy Institute, Amy Quackenboss predicted a surge, perhaps in May and June[1], but…
Under the CARES Act, many Americans will be receiving a stimulus payment very soon. The IRS started distributing the money last week. Who will get the check, and how much will you get? US Citizens and Residents with a social security number, who earned less than $75,000 in 2018 and 2019, and head of househoolds who earned less thank $112,500…
Will I lose my car if I file bankruptcy? Am I allowed to have money in the bank? I don’t even have any property. We get a lot of questions and comments just like these every day. Everyone owns property, from clothing and a cell phone to cars and a house. Whether or not there is something someone could…
If you have been sued by a creditor for money, the most important thing to do is respond to the lawsuit. Never ignore a lawsuit or complaint because if you do, you will automatically lose! The next thing to do is to contact a lawyer to get a free consultation and see what your rights are. Many times, the creditor…
A recent client from Western Massachusetts shared her experience working with MDRF so she could eliminate her debt and get a fresh start: After getting ill in 2012 (Legionnaires Disease) and nearly dying, I was not physically able to return to work. I had been working 45 hours a week and making good money when I became ill….
In this blog post in the student loan series, we will be talking about rehabilitation and consolidation for defaulted student loans. You default on a loan when you don’t make full payments on your loan for 270 days. There are very real consequences for defaulting on your loans, such as wage garnishment, liability for lawsuit, inability to receive further federal…
To officially kick of our blog series about student loan management options, we are going to discuss income-driven repayment plans. These plans are only available to people with qualifying federal student loans that are in good standing. If your loan is in default you are going to have to rehabilitate your loan before pursuing one of these plans. There are…