Articles from Diane L. Drain - Phoenix Bankruptcy & Foreclosure Attorney

Turned Down for a Job due to “Bad Credit”? GIS & BGC to Pay $13M for Inaccurate Reporting

Consumer Financial Protection BureauOctober 29, 2015, the Consumer Financial Protection Bureau (CFPB) took action against General Information Services (GIS) and its affiliate, e-Background-checks.com, Inc.

New FICO Score Opens Door for Many Could Not Qualify in the Past

According to an article in the Wall Street Journal, Money Beat, a new FICO credit score designed by Fair Isaac Corp.FICO +1.65%

New FICO Score Opens Door for Many Could Not Qualify in the Past

According to an article in the Wall Street Journal, Money Beat, a new FICO credit score designed by Fair Isaac Corp.FICO +1.65%

Zombie Homes – Abandoned, Pre-Foreclosure Properties

home, house - abandonedSo what is a Zombie home?  Have you seen homes sitting empty and abandoned for months or years?  You have probably seen a Zombie home.  The owner made a very difficult decision to abandon the home.  The mortgages on the property far exceed its fair market value; meaning there is no

Student Loan Defaults Worse Than We Thought

Facebook - you lose thumbAccording to a post by Kevin Carey, New York Times, reports that the Education Department released new data suggesting that the student loan system is failing and that, the loan crisis hits hardest at colleges enrolling large numbers of students from low-income backgrounds.

Radio Interview with Attorney and Law Professor – Diane L. Drain

I was fortunate enough to be invited for a short interview on a local radio station.  This is just an audio program, but it is only 12 minutes long.  I hope the information is informative.

Radio Interview with Attorney and Law Professor - Diane L. Drain

Your Facebook Friend’s Credit Score Can Affect Your Ability to Get a Loan

Your mom told you to be careful when choosing your friends.  What your mother did not tell you is that “friending” someone on social media will link their reputation to you.  Sounds like a crazy woman is writing this blog, right?  No, just a very cautious one who now understands that who you associate with on-line can affect not only your reputation, but also your ability to obtain credit.  We all know that employers look at our social media as part of their “due diligence” before offering you that sorely needed new job.  Also, that current employers fire employees because of the social med

Disability Discharge for Federal Student Loans

According to a fellow lawyer, JayFleischman · August 28, 2015, a proclaimed expert in student loans and bankruptcy, federal student loans can be discharged if you are totally and permanently disabled. And you can do it without filing for bankruptcy.
Unfortunately, getting the U.S. Department of Education to approve your discharge request isn’t always so simple. The procedure can be complicated, and it’s easy to make a mistake that can cost you thousands of dollars.

Consumer Complaints at an All Time High. CFPB Leading the Charge.

Interesting article in Bloomberg Business regarding Consumer Financial Protection Bureau (CFPB) “a record 26,704 complaints were registered in July, up 15 percent from the previous month and up 20 percent from a year ago. The CFPB regulates a wide range of consumer financial products, with the notable exceptions of investments and insurance. Debt collectors inspire the most complaints, followed by problems with credit reports and with mortgages.

6,969 Complaints about Credit Reporting in Just ONE Month (July 2015)

The Consumer Financial Protection Bureau (CFPB) released its monthly consumer complaints snapshot. The report spotlights credit reporting complaints. According to the report, the majority of the credit reporting complaints were about problems with incorrect information on the reports.

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