phone_ctc2

Hello world! Please change me in Site Preferences -> This Category/Section -> Lower Description Bar


Warning: fopen(https://robertweed.com/wp-content/uploads/2017/10/jpg_we_the_people_constitution_burning_illustration.jpg): failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found in /home3/bobweed/public_html/wp-content/themes/trighton/framework/engine/functions/freshizer.php on line 272

Warning: filesize(): stat failed for https://robertweed.com/wp-content/uploads/2017/10/jpg_we_the_people_constitution_burning_illustration.jpg in /home3/bobweed/public_html/wp-content/themes/trighton/framework/engine/functions/freshizer.php on line 185

Warning: fclose() expects parameter 1 to be resource, boolean given in /home3/bobweed/public_html/wp-content/themes/trighton/framework/engine/functions/freshizer.php on line 113

Warning: imagecreatefromstring(): Empty string or invalid image in /home3/bobweed/public_html/wp-content/themes/trighton/framework/engine/functions/freshizer.php on line 1535

Warning: Division by zero in /home3/bobweed/public_html/wp-content/themes/trighton/framework/engine/functions/freshizer.php on line 1586

Warning: Division by zero in /home3/bobweed/public_html/wp-content/themes/trighton/framework/engine/functions/freshizer.php on line 1598

Warning: Division by zero in /home3/bobweed/public_html/wp-content/themes/trighton/framework/engine/functions/freshizer.php on line 1598

Warning: Division by zero in /home3/bobweed/public_html/wp-content/themes/trighton/framework/engine/functions/freshizer.php on line 1600

Warning: Division by zero in /home3/bobweed/public_html/wp-content/themes/trighton/framework/engine/functions/freshizer.php on line 1601

Warning: imagecopyresampled() expects parameter 2 to be resource, boolean given in /home3/bobweed/public_html/wp-content/themes/trighton/framework/engine/functions/freshizer.php on line 1510

Warning: imagedestroy() expects parameter 1 to be resource, boolean given in /home3/bobweed/public_html/wp-content/themes/trighton/framework/engine/functions/freshizer.php on line 1521

26

Oct 2017

U S Senate Ignores The Seventh Amendment

Posted by / in Weekly Posts /

U S Senate Votes to Override Bill of Rights

Last night, the United States Senate blocked an effort to restore a neglected part of America’s Bill of Rights: The Seventh Amendment to the Constitution.

The Seventh Amendment grantees a jury in civil cases; cases where people are suing other people, or corporations. (The better known Sixth Amendment guarantees your right to trial by jury in a criminal case.)

The erosion of the Seventh Amendment goes back to 1925. That’s when Congress passed the Federal Arbitration Act.  The Federal Arbitration Act allowed parties to a contract to agree to resolve disputes in a private, secret proceeding. In the last twenty years, big businesses of all stripes have gotten you to “agree” in fine print. That fine print is in the terms and conditions you sign almost every time you do business with a big business. Your constitutional right is lost.

After the financial crisis, in 2010, Congress specifically asked the CFPB to look at arbitration clauses.

After five years of study, on July 10, 2017, the Consumer Finance Protection Bureau outlawed that fine print surrender of your right to a jury. Starting in 2019 banks and other consumer finance companies and credit bureaus would NOT be allowed to force consumers away from as trial by jury into an arbitration.  The Senate, voting 51-50, blocked the CFPB rule. The Senate let the banks, finance companies and credit bureaus to keep doing what they’ve been doing. Taking away your trial by jury right in fine print.

Consumer advocates loudly supported the CFPB rule and denounced the Senate vote. But the people who like to talk about the constitution were silent. Sen. Mike Crapo (R-ID) sponsored the law, saying there is no evidence that consumer are better off with the right to a jury trial. He wants to see “evidence” that we need that right. According to Sen. Crapo, the fact that a right is in the constitution is not evidence enough

Trial By Jury Was Important to the Founders

Patrick-Henry-Hero-AB

Patrick Henry said that trial by jury was essential to keep the wealthy from oppressing the poor.

During the ratification of the constitution, the right to a jury trial kept coming up in the debates. Trial by jury was long established in English law, but the Crown had narrowed those rights for the American colonies. The states feared that the Federal government might someday start acting like the king. The specific right to a jury trial in civil cases was demanded as protection for the average citizen against the power of the wealthy. Patrick Henry was one of those who made that argument. Today the Federal Arbitration Act and fine print agreement have swept away the right to a jury trial.  Just as Henry, and the others feared.

Please select the social network you want to share this page with:

05

Oct 2017

Two years after bankruptcy, Jim gets 3.25% car loan

Posted by / in Weekly Posts /

Two years after bankruptcy, Jim gets 3.25% car loan

Just got an email from Jim, who filed Chapter 7 bankruptcy with me in 2015.  His case was approved and discharged in May 2015.  In August 2017, he got a car loan at 3.25%.

I tell people to try to get three years after the bankruptcy, to get the best rate on a car loan, but even two years—well, two years and two months—Jim was able to get a really good rate.

Jim got that really good rate from his credit union. It was State Department Federal Credit Union.  sdfcu-logoThat’s  something else I tell people.  Sometimes the factory is having trouble selling their cars; then you want to get a loan from the dealer.  Otherwise a credit union is the best place to get a car loan.

Now Jim is Getting Ready to Buy A House

Jim had seen that it’s possible to get approved on a mortgage. insured by Fannie Mae, just two years after BK.  He wanted to know if I had heard of that.

Yep,  lots of people get approved for mortgages two years or so after filing Chapter 7 bankruptcy.

The best way to have good credit is to have good credit. But once you get into trouble (Jim has a medical emergency that had wrecked his credit) filing bankruptcy is nearly always the fastest way back.  People struggle with damaged credit for years, I talked to three people like that just today, when they could get out of trouble and back to good credit far more easily.  Take it from Jim.

Please select the social network you want to share this page with:

01

Sep 2017

Consumer Finance Protection Bureau Knocks Out A Scam

Posted by / in Weekly Posts /

CFPB Knocks Out Another Scam

Yesterday, the Consumer Finance Protection Bureau put another credit repair outfit out of business. This was National Credit Advisors.  10391017_582943165194915_773760901255728189_nThese folks claimed that you can use them to “free yourself from bad credit.”

According to the Consumer Finance Protection Bureau, they collected $20 million from 50,000 consumers over a three year period.  And accomplished almost nothing.  (They promise that “One of our certified credit analysts will review your credit report with you and provide a customized in-depth credit evaluation.” Which boils down to nothing.)

In addition to agreeing to go out of business, although the website is still up today, National Credit Advisors agreed to pay a fine of $150,000.  Not much if they scammed people out of $20 million.

Three signs of a scam

Looking at their website, I see all three earmarks of a scam.  

First of all, they are far away. Sherman Oaks, California. Why do people trust somebody they never heard of in a city far away?  I don’t know, but people do.

Second, they don’t show their face. National Credit Advisors does not give you the name, or picture, of the people behind it. It seems like scammers never do.

Third, they don’t have a real address. On their website, National Credit Advisors lists their address as 13636 Ventura Blvd. If you Google 13636 Ventura Blvd, Sherman Oaks CA, it’s a UPS store!  Obviously their “certified credit analysts” aren’t working there at the UPS store. From that, you gotta suspect those analysts really aren’t anywhere.  

What’s the Lesson?

If you need to protect your legal rights, see a lawyer! I know lawyers are expensive. But not as expensive as sending money to a scammer that just makes your problem worse.  And when I say “see” a lawyer, I mean sit down face to face, with someone in your community who takes the time to understand your problem. (Someone who is licensed by your state Supreme Court. And who has a location where you can send the sheriff if they just take your money and don’t do anything.)

 

Please select the social network you want to share this page with:

NORTHERN VIRGINIA BANKRUPTCY LAW OFFICES