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Consumer Protection

California’s New Fair Debt Buying Practices Act

California’s Fair Debt Buying Practices Act is now effective, as of January 1, 2014. It applies to any consumer debt sold or resold on or after January 1, 2014. The Fair Debt Buying Practices Act restricts the written statements debt buyers can make to consumers in attempting to collect a debt, and prohibits a debt…

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1099-C for Cancelled Debt?

‘Tis the season, I guess. I came across this article by Gerri Detweiler on credit.com’s blog with some ideas on how to deal with the tax implications of receiving a 1099-C for cancelled debt. Tax matters are complicated, and you should always consult with an experienced advisor. Nevertheless, the article does give some food for…

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Consumer Financial Protection Bureau Website

The Consumer Financial Protection Bureau, which is still in the process of being formed, has launched a beta version of its website. There are some great features to the site, including the ability for consumers to submit suggestions for the Bureau. The transparency as to the Bureau’s goals and development truly is remarkable. I highly…

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