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News Dissector" Danny Schechter speaks to a C-NBC reporter outside the NACA protest at Bear Stearns, in a never-to-be-broadcast interview.
Danny Schechter, is Director of In Debt We Trust a hard-hitting documentary that investigates why so many Americans - college and high school students in particular - are being strangled by debt;
A new lawsuit filed against LifeLock accuses them of deception. One doesn’t have to look too far to see deception alright-but who’s really doing the deceiving?
If you look at recent events, LifeLock doesn’t appear to be the culprit. Rather the identity theft prevention company is beginning to look much more like David up against Goliath. Let’s look at the entire picture.
LifeLock, the leading identity theft prevention/restoration company in the country is once again rising to the challenge to clear their name from another lawsuit filed by someone claiming to protect innocent consumers.
A class action lawsuit filed in the US District Court in Arizona on Thursday claims that LifeLock misleads its subscribers because their $1 million dollar guarantee to stand behind their promise to restore stolen identities is “riddled with restrictions, waivers and limitations”. The complaint also argues that under its terms and conditions, LifeLock's service is actually an insurance product and should be regulated by state insurance departments.
Is LifeLock an insurance product? LifeLock CEO Todd Davis says they’re not. "We have over 20 letters from state insurance commissioners that agree with our position that we're a service with a warranty."
The Arizona Department of Insurance, the state where the suit was filed, has also reviewed LifeLock's service and does not believe it is an insurance product, said department spokeswoman Erin Klug. In fact, no state has ever deemed LifeLock to be an insurance product.
The plaintiff in this second recently filed lawsuit is seeking unspecified damages for all LifeLock customers and is asking the company return all money it collected from customers, whether or not they want their money back.
News of this lawsuit comes directly behind Experian’s lawsuit filed last month. Their lawsuit too claims that LifeLock is misleading us and in part, claims to be a valiant effort to protect us as well.
Experian says LifeLock is misleading? Try finding that “free credit report” you’re entitled to without landing on an Experian site selling credit monitoring services. Here it is! No, over here!! Oops, we mean here! Yes, Experian is dreaming of a number alright – it’s their bottom line! There are no shortages of lawsuits filed against Experian but they don’t end up in the news. Experian cares about the consumer as much as Saudi Arabia cares about cheap gas.
With news of this latest lawsuit, Experian and some of LifeLock’s competitors must be salivating, grinning from ear to ear and contemplating how to best spin the news of these lawsuits into profits -with little thought given to the real problem ID THEFT! If you listen closely, you may actually hear the celebration. It won’t take long before countless creative headlines begin sweeping the web offering consumers deals if they jump LifeLock’s ship and swim quickly into their open arms.
Why do I sound annoyed, sarcastic and skeptical of the true intent of these recent lawsuits?
Because not only do they appear to be self-serving and disingenuous, they are also only serving to further exacerbate the real problem!
LifeLock contends that not only did the plaintiff in this most recent suit not ask for a refund -he apparently never once reported he had any concern, or damages for that matter! In fact, Todd Davis, CEO of LifeLock says he wasn’t even aware of the lawsuit until he was contacted by news reporters.
All of this makes me remember a billboard I once saw on a church that read; Hey, that Love Thy Neighbor thing... I meant it - God. In the spirit of that gracious saying, I urge you to look at the entire picture and facts;
In 2005, there were 158 breaches reported involving about 65 million records according to statistics compiled by the Identity Theft Resource Center (ITRC), a consumer rights advocacy group.
In 2006, nearly 20 million records were exposed.
In 2007 some 127 million data records were exposed.
As of today, just this month alone, attrition.org reports 18 data breaches that placed about 7,000,000 million identities at risk. Odds are pretty good that when the statistics for 2008 are compiled figures will indicate another sharp rise in the number of records put at risk of fraud.
Letting someone else's behavior determine the truth can be harmful in itself. What services we find of value should be determined by us-and not others. These cases have yet to be heard but when reading the press releases one would think these cases have already been decided and ruled on.
The real problem here is protecting us from criminals and keeping our identities safe. Whatever service or product that can best do so is the one I want to utilize. I don’t need protection from big bad LifeLock who appears to be out there actually making a difference for those of us who don't want to worry about our identities being ripped away. I need protection from the identity thieves LifeLock appears to be stopping.
I can’t help but ask the obvious…who’s really concerned about consumers and who isn’t? What has Experian, or anyone involved in these two lawsuits brought to the table that can become part of the solution and not part of the problem. And what damages have they shown? None that I can see.
Whether it’s a medical, employment, financial or reputation identity theft caused by a data breach, dumpster diver or a thief who breaks into my home, car, or office and steals my laptop, credit card numbers, or wallet, I find peace of mind and value in having a service such as LifeLock whose job is to “fix” the problem –That’s what I need protection from -not LifeLock.
Thieves steal and sell your house, leaving you stuck with the mortgage
Source: ConsumerAffairs.Com
A new type of crime is targeting homeowners. It's one that combines identity theft with mortgage fraud.
When you mix those criminal activities together, you end up with a scam that threatens the American Dream of owning a home. This new crime is called house stealing, according to the Federal Bureau of Investigation (FBI). And some victims of this illegal scheme are desperate homeowners facing foreclosure.
Authorities say house stealing is a complicated crime that has a several twists and variations. In most cases, though, here's how it works:
• Con artists pick out a house to steal;
• They steal that homeowner's identity. They get their names and personal information -- and then make fake social security cards, driver's licenses, or other forms of identification;
• Con artists go to an office supply store and buy forms to transfer property;
• They forge the homeowner's signature on those documents and file them with the appropriate governmental office – usually the county recorder of deeds office;
• Once those papers are filed, the deed to the house transfers to the con artists. And the home belongs to them.
In another twist to the crime, con artists look for vacation homes or rental property to steal. They find out who owns the property, steal their identities, and follow the same steps to transfer the deed to their house into their names. In these cases, though, authorities say the con artists put the empty houses on the market and keep the proceeds from their sales.
Sometimes, these con artists even sell homes while unsuspecting families still live in them.
The con artists -- who have already transferred the deed to the homes into their names -- find buyers who are willing to purchase the properties based on a few online pictures.
The con artists keep the proceeds from the illegal sales – and the rightful owners continue paying the mortgages for homes they no longer own.
Straw buyers
This crime can become even more complicated.
Consider a case the FBI and Internal Revenue Service (IRS) investigated last year, which targeted homeowners facing foreclosures. That investigation revealed a 35-year-old real estate owner in southeast Los Angeles defrauded more than 100 homeowners and lenders out of $12 million dollars.
The real estate agent, Martha Rodriguez, promised to help struggling homeowners pay their mortgages by refinancing their loans. Instead, Rodriguez and her partners allegedly used stolen identities and filed fraudulent loan documents to buy those homes.
They also used what are called "straw buyers" in the scheme. These are individuals who are paid for the illegal use their personal information. The "straw buyers" also filed loan documents -- ones that contained false information -- to buy some of the homes. MORE
HR Data Breaches Can Leave Holes in Corporate Pockets
Source: Workforce.com
Employee data breaches are becoming like leaky roofs for companies—frustrating but familiar. And as such, experts say, organizations are getting smarter about preventing the kind of personal information exposures that can anger workers and damage a firm’s reputation.
Some employers have faced lawsuits related to breaches. And challenges persist when it comes to protecting employees’ privacy, including the difficulty of safeguarding sensitive information when so many workers take computers home or on the road. But through steps such as training and data encryption, organizations are finding ways to keep a tight grasp on employee information.
“It is now a routine concern,” says Doug Rosinski, an attorney with law firm Ogletree, Deakins, Nash, Smoak & Stewart.
Serious issue
During the past few years, the issue of employee data breaches has come to the fore for businesses and workers. That’s partly because of the related rash of consumer data exposures, in which banks and other organizations have lost control of key information. It also stems from the way millions of Americans have had to wrestle with the headache of identity theft.
What’s more, a number of high-profile cases involving lost or stolen employee data have focused attention on the issue...MORE
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With reports of numerous daily data breaches, it's easy to see why companies must take a leading role in fighting fraud to ensure the data they store is safeguarded from thieves! To illustrate just how vulnerable we all are to fraud, here's a couple of this weeks headlines...
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Identity breach affects hospital
PIH employees' data compromised
WHITTIER - About 5,000 past and current employees at Presbyterian Intercommunity Hospital had their private information stolen, officials said Wednesday.
The data included Social Security numbers, birth dates, full names and other records stored on a desktop computer that was stolen from a Fullerton data management group on Feb. 11.
In addition to the 5,000 employees, another 35,000 identities from 18 other companies were stored on the computer, officials said.
According to hospital Human Resources Vice President Lon Orey, the employees will be given a one-year subscription to LifeLock, a group which tracks the user's information and guards it from illegal use.
"We take the treatment of employee information very seriously," Orey said, "and we will continue to do everything we can to protect them."
A letter informing employees that their information was in jeopardy was dated March13, more than a month after the breach.
Spokeswoman Terri Starkman said the hospital would not comment about the lapse between the theft and notification. MORE
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3 Auto Dealerships Closed in Identity theft Raid
HAMILTON — Three auto dealerships are shut down as authorities said the owners have been aiding illegal immigrants in identity theft and buying cars without proper identification.
Seven people were arrested and dozens of indictments were unsealed Thursday, March 13, a day when Butler County sheriff's deputies and federal agents raided dealerships, looking for people allegedly producing fraudulent paperwork to buy vehicles for illegal immigrants.
About 20 law enforcement vehicles converged about 11:15 a.m. at Credit Auto Sales and Paul's Auto Sales and Service and Pay-Less Auto Sales on Ohio 4 in Hamilton, as well as Pay Less Auto Salvage in Middletown. In all, they arrested seven of the nine people sought for tampering with records and identity theft charges.
A Butler County grand jury handed down a total of 34 indictments against the individuals.
The investigation, dubbed Operation CAST (criminal auto sales and titles), took months of undercover work and the assistance of the Ohio Bureau of Motor Vehicles, the Social Security Administration, Immigrations Customs and Enforcement, and the county prosecutor's office, according to Sheriff Richard K. Jones. MORE
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To find out if your information may have been recently compromised, read earlier March blog
and read You may fiercely protect your personal information...But what happens when "others" don't?
Phishing scams often take the form of an e-mail that appears to come from a legitimate source. If a Phishing scam is successful, criminals can then easily empty your bank accounts, run up credit card charges and apply for loans or credit in your name. Even small tidbits of data found within profiles on social networking sites, can be enough for a trained identity thief to piece together your information and then easily crack your passwords.
This time of year many scam e-mails are designed to appear as though they come from the IRS. Tax time is a particularly good time for criminal s to go on information phishing expeditions. They will bait the unsuspecting taxpayer by claiming the IRS needs additional information or verification of the taxpayer's identity. Often the e-mail will have an IRS logo making it appear legitimate. It usually contains a bogus link or phone number requesting the taxpayer contact them immediately...don't use either.
To date, taxpayers have forwarded more than 33,000 of these scam e-mails, (reflecting more than 1,500 different schemes), to the IRS.
The IRS never uses e-mail to contact taxpayers about their tax issues. Taxpayers who receive unsolicited e-mail that claims to be from the IRS can forward the message to a special electronic mailbox, phishing@irs.gov, using instructions contained in an article titled “How to Protect Yourself from Suspicious E-Mails or Phishing Schemes.”
Remember:
* The IRS does not initiate taxpayer communications through e-mail. In addition, the IRS does not request detailed personal information through e-mail or ask taxpayers for the PIN numbers, passwords or similar secret access information for their credit card, bank or other financial accounts.
* Do not open any attachments or click on links contained in suspicious e-mails, which may contain malicious spyware that will infect your computer.
*The only official IRS Web site is located at www.irs.gov.
You may also report misuse of the IRS name, logo, forms or other IRS property to the Treasury Inspector General for Tax Administration toll-free at 1-800-366-4484.
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For more details on phishing scams see earlier blog:
Computer Technician Reveals Flaw In Security
Many people feel secure in posting information and files on the popular Facebook web site, but as it was revealed early this week it might not be that secure.
Byron Ng, a computer technician revealed that it was possible to access private files that were supposed to be secure on Facebook. Mr. Ng is a computer technician who lives and works in Vancouver B.C. He went looking for security flaws when Facebook announced recently that it was free from security flaws.
While some see the actions of people such as Byron Ng as hacking, in reality it is not so. Mr. Ng looked for a breach, and when he found it he announced it first privately to the company, and then to the world at large.
Such actions serve to help safeguard the Net, not to hack against it. The security breach comes after an announced Facebook upgrade last week that gave 40 million users supposedly more control over what was viewed by other people. There have been warnings from other groups about the privacy of social networking sites, and for users to beware.
Facebook immediately said it was working on the problem, and they would continue to make improvements to the site.
Part of the information that was accessed by Mr. Ng on the Facebook site was photos of Paris Hilton and her brother Nicholas.
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For more info on how to stay safe on social networking sites see:
Students & Social Networking Sites -Favorite Target of Thieves
National Institutes of Health -March 24, 2008
Stolen Laptop contains names & medical information on 2500
Western Carolina University - March 23, 2008 SSN's Hacked
Agilent Technologies - March 22, 2008 Stolen Laptop has names, SSN's and financial information of 51,000
Rhode Island Department of Administration - March 21, 2008 1400 SSN's on Disk Missing
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The above reported data compromises come right behind last weeks blog: A Few Data Loss Incidents Reported This Week...
By the sheer number of the ongoing "reported" data breaches, it should be quite obvious (even to Experian) that odds are pretty good we can expect to be effected by a hacker or identity thief one day. These continued data breaches only confirm and highlight how little control we actually have over our own information. Our ability to place fraud alerts or stamp "credit freeze" on our credit file are important options and remain a valuable line of defense against fraud. But not if Experian has their way...
Experian claims that fraud alerts were only designed to be used if we think we're in danger of identity theft. Well...who doesn't? Statistics continue to prove that most of us believe we are always at risk -and with good reason!
If Experian would simply change a few of their procedures, I could then consider removing my fraud alerts. Maybe if they would…
*stop selling my information without my permission,
*guarantee to protect my credit file from preying eyes,
*immediately remove fraudulent data once apprised of it, and most importantly
*do all necessary restoration work such as contact creditors, replace credit cards, insurance card, change account numbers, and not sell my credit file until corrected, and;
* reimburse me for any loss of time and expenses incurred if my identity were to be stolen;
The truth is, until Experian and the cra's change their practices, and prove they want to become part of the solution -rather than being a part of the problem, our best line of defense will continue to be taking proactive safeguards to protect our data. Taking reactive steps does little to avoid the impact of fraud.
Shouldn't we be allowed to protect our information before it's compromised? Our information is a valuable commodity of the cra's, and viewed as valuable to hackers and thieves who will continue to find new and innovative ways to steal it!
Shouldn't we be seeking new and innovative ways to protect it?
Protecting our data has become an increasingly difficult challenge -yet it's a challenge the cra's, appear to have difficulty meeting.
The company behind credit scoring, Fair Issac, recently announced changes in the way they'll be calculating our credit scores:
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For more info see prior blog: Will the new FICO 08 credit scoring model have an effect on you?
How to hack RFID-enabled credit cards for $8
A number of credit card companies now issue credit cards with embedded RFIDs (radio frequency ID tags), with promises of enhanced security and speedy transactions.
But on today's episode of Boing Boing tv, hacker and inventor Pablos Holman shows Xeni how you can use about $8 worth of gear bought on eBay to read personal data from those credit cards -- cardholder name, credit card number, and whatever else your bank embeds in this manner.
Fears over data leaks from RFID-enabled cards aren't new, and some argue they're overblown -- but this demo shows just how cheap and easy the "sniffing" can be.
Source:BoingBoing.net
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What can you do about it?
For more info, tips and products that can help keep you and the contents of your wallet safe read my article: RFID technology. The latest way to steal you –without your knowledge! ...Then watch the investigation referred to in the article, along with other RFID skimming demonstrations here.
Lasell College says hacker accessed personal data
NEWTON, Mass. March 20, 2008-- Lasell College says a hacker accessed data containing personal information on about 20,000 current and former students, faculty, staff and alumni.
The college told The Boston Globe on Wednesday it has no evidence that the information, which included names and Social Security numbers, has been misused. But it has sent an e-mail notice to the people who may be affected.
College officials say they discovered the breach on Feb. 6 and notified law enforcement and officials in the states where those affected live. Lasell says the hacker is believed to be an employee. MORE
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Paperwork came from evicted realty company
FLINT -- (03/19/08) -- The personal information of hundreds of local residents is now out in public view.
Social Security numbers and financial records of customers of a Flint-based realty mortgage company have been found in a dumpster.
Affordable Realty occupied office space inside the Ben Agree building on Dort Highway for years.
The company was evicted and all of its sensitive customer information ended up outside in a dumpster or on the ground nearby. Included in the papers are bankruptcy statements, financial records, Social Security numbers and addresses of clients who once did business with Affordable Realty. MORE
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Some BU students' Social Security info e-mailed to others
Source: Press & Sun-Bulletin
VESTAL March 17, 2008 -- The Social Security numbers of more than 300 Binghamton University students were accidentally e-mailed to a list of hundreds of other students on Friday.
A university employee mistakenly sent an e-mail attachment containing the names, grade point averages and Social Security numbers of junior and senior accounting students to another group of 288 School of Management students.
There has been no indication that any students' information has been misused, BU spokeswoman Gail Glover said Monday night.
The e-mail, sent by the Coordinator of Undergraduate Advising for the School of Management Brian Perry, was supposed to go to accounting faculty members seeking input on student awards. It also should not have contained "unnecessary information," the university told students in a letter informing them of the situation.
Shortly after the e-mail was sent, Perry sent a second e-mail, saying he had "screwed up in my address book" and advised students to delete the first message. He did not say that the students' Social Security numbers were contained in the original e-mail.
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3/17/08 Blog: Supermarket Chain Security Breach Puts 4.2M Credit and Debit Cards at Risk
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Possibly Thousands Of Patient’s Information Compromised With Lap Top Theft from University Healthcare March 15, 2008
Possibly 4,800 patient’s information could be compromised, when a laptop with names, social security numbers and personal health information was stolen from University Healthcare over two weeks ago.
The theft happened back on February 25th. The hospital says that someone broke into a locked office and took a lap top and a flash drive. The hospital does not believe that whoever stole the laptop was searching for the patient’s information.
The hospital also says that the laptop is password protected and it is confident that the person who stole the lap top will not be able to access the information.
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Utah Division of Finance
State Agency Reports A Security Breach
Salt Lake City March 15, 2008: Computer files containing the personal information of approximately 500 individuals may have been accessed by unauthorized persons during a security breach at the Utah Division of Finance.
However, Department of Administrative Services spokeswoman Vicki Schoenfeld said in a press release an initial investigation indicates it is highly unlikely the person who breached the computer system was able to access the personal information. As a precautionary measure, the Department of Administrative Services will make every effort to contact all individuals whose personal information was potentially exposed, Schoenfeld said. MORE
Sophistication of Viruses and Other Threats Poses Big Challenges for Companies, Consumers
The sheer volume and complexity of computer viruses being released on the Internet today has the anti-virus industry on the defensive, experts say, underscoring the need for consumers to avoid relying on anti-virus software alone to keep their home computers safe and secure.
Approximately 5.5 million malicious software programs were unleashed on the Web last year, according to AV Test Labs, a German company that measures how quickly and accurately anti-virus products detect the latest malicious software, also known as "malware." That volume, AV said, forced anti-virus firms to analyze between 15,000 and 20,000 new specimens each day -- more than four times the daily average they found in 2006, and at least 15 times as many the company recorded in 2005. In the first two months of 2008 alone, AV Test found more than one million samples of malware spreading online.
"Back in 1990 we were seeing a handful of new viruses each week," said David Perry, global director of education for Trend Micro, an anti-virus company headquartered in Japan. "Now, we're having to analyze between 2,000 and 3,000 new viruses per hour."
This glut of malware is the result of a long-running digital arms race between security companies and criminals intent on stealing personal financial data from vulnerable computers and using networks of commandeered PCs for all manner of lucrative criminal enterprises -- from sending spam to hosting scam Web sites. MORE
Source: Brian Krebs
washingtonpost.com
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Make sure that you have both a fire-wall and up to date antivirus software running on your computer at all times.
For Tips on keeping your PC and stored data safe, see a few earlier blogs:
Protect your computer from hackers -before it's too late.
Mission Improbable: Keeping Cyber Hackers Locked out of University Computers
TAMPA, Fla., March 18 /PRNewswire/ -- In response to Countrywide Home Loans refusal to fulfill promises made to Gulf Coast hurricane victims, the James Hoyer Law Firm announced today the filing of a new class action lawsuit against the mortgage company. The suit was filed in the United States District Court in the Southern District of Mississippi.
The suit alleges Countrywide took advantage of these disaster victims by offering them mortgage deferrals with no penalties attached and then reneging on that promise. The company turned its disaster relief assistance into a twisted, money making venture. Countrywide subjected these victims to the threat of foreclosure if they did not agree to harmful forbearance agreements and loan modifications that end up costing them more money. These plans made more profit for Countrywide on the backs of hurricane victims.
Mississippi Plaintiff Shermanda Brumfield calls Countrywide's refusal to live up to its promise an outrage. "It hurts to see this company turn its back on us, after we've been through so much. We've been suffering for more than two years. It's time for them to do the right thing and help us out of the hardship they created," she said.
Background: After Hurricanes Rita & Katrina, Countrywide offered 90-day mortgage payment deferrals to homeowners affected by the devastation and in many cases 6-month deferrals. Countrywide represented this as a good deed to help people in their time of suffering and even issued a press release to promote its actions.
Homeowners were told by agents over the phone their deferred payments could be tacked onto the end of their mortgages. They were assured they would not face penalties like late fees, interest and reports to the credit bureaus.
Countrywide went so far as to tell homeowners who wanted to pay, not to do it. In some cases, they even returned checks. Struggling hurricane victims accepted the offer of help, some reluctantly, when assured they would not be economically penalized by late fees, penalties or credit reporting.
When homeowners followed up later to resume payments, they discovered Countrywide was reneging on its promise. The company said it could not add the payments to the end of the loan, without penalty, after all. Instead, Countrywide told homeowners they would either have to pay the lump sum owed immediately or face a loan restructuring which would cause them to pay thousands of dollars more over the life of their loan.
The suit, filed on behalf of victims in Mississippi, is in addition to two suits already pending in Louisiana and Texas. The James Hoyer Law Firm is seeking reasonable loan terms for these victims so they can remain in their homes and restitution for those who've already lost their homes.
Video of Texas hurricane victims evicted by Countrywide: Runs 6 minutes.
This video documents the hardship faced by Texas hurricane victims Ron and Andrea Rogers and their three children. Countrywide evicted the family five days before Thanksgiving.
The Rogers' case crystallizes the reality that mortgage companies, like Countrywide, are trying to make it appear they're helping families avoid foreclosure, while in reality driving them out of their homes. This senseless eviction has left another vacant home in a neighborhood, driving down property values and hurting our communities. As Ron Rogers said the night he moved his family into the Super 8 Motel: "Here's your mortgage meltdown right here. It's self-inflicted by the mortgage companies."
James, Hoyer, Newcomer & Smiljanich, PA is an investigative, law firm that represents individuals, organizations and governments.
East Coast supermarket chain hit by data breach; 4.2 million account numbers affected
Hannaford Bros., a supermarket chain with stores primarily in the Northeast and Florida, said Monday that it was hit by a data breach that exposed 4.2 million credit and debit card numbers.
Overall, 1,800 case of fraud have been reported due to the breach. The company said no personal data was released. In an FAQ and letter from the chain’s CEO, the company said that it became aware of the breach Feb. 27. The breach began Dec. 7, but wasn’t contained until March 10th according to reports.
The company said the account numbers were “illegally accessed from Hannaford’s computer systems during the card verification transmission process in transactions.” Hannford added that it now has “comprehensive data security systems in place” that go beyond industry standards. READ MORE
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Don't be caught off guard. Protect your identity, time, money (& sanity) before it's too late. If you can't take the time to do so -hire someone who can. I utilize LifeLock -and here's why.
I believe our identities are at risk 24/7. I want to ensure that when an identity theft occurs (again) someone will be there to do the clean up work for me!
See Prior Blogs:
Consumerist reports: Credit Card Victims Muzzled, Ordered To Release Financial Histories Before Sharing Their Experiences
Four credit card victims were ordered to sign waivers allowing their creditors to release their private financial records to the public before they could testify before the House Financial Services Committee.
The consumers had flown in from across the country to share their stories at a hearing on the Credit Card Bill of Rights, but credit card companies insisted—and Republicans and Democrats agreed—that it would only be fair to release documents like credit scores and a list of recent purchases in order to rebut the consumer's claims.
"Fair is fair," Congressman Spencer Bauchus (R-AL) barked, as he defended the absurd request. Ultimately, the consumers didn't testify, but one invitee, Steven Autrey, released his prepared statement, which slams creditors for their abusive and predatory business practices.
...The Credit Card Bill of Rights is an excellent pro-consumer piece of legislation that would:
* Ban arbitrary rate increases
* Force creditors to provide 45 days notice of any rate increase
* Ban double-cycle billing
* Empower cardholders to set limits on their cards and ban over-the-limit fees once that ceiling is reached
* Ban excessive fees
* Ban lending to subprime borrowers
* Require creditors to mail bills at least 25 days before the due date, instead of 14 days as currently required
* Require creditors to apply payments first towards high interest items
You can see why the credit card companies were pulling out all the stops to harm this bill in any way possible. What is more surprising and disappointing is that members of the Financial Service Committee would help muzzle consumers whose only desire was to share their personal experiences. Congresswoman Maloney has vowed that "regular people" will testify at a future date.
Source: Consumerist
"Debt Collector Frauds; Freddie Mac / Wells Fargo Real
Estate Frauds; Court Collusion"
By GUEST BLOGGER: Barbara Ann Jackson -Law & Grace, Inc.
* * * * * * * *
Regarding your post:Appeals Court Rules Aggressive Debt Collector Violates Consumer Rights and the link to CNN's report: Rogue debt collectors -- how to fight them...
DEBT COLLECTION fraud is the prime method for accomplishing fraudulent
real estate flippings. Real estate foreclosures are bonanzas of
deceptive lending because foreclosures enable the flipping, and
flipping enables misleading INVESTORS concerning housing market
profits. In fact, because of FRAUDULENT FORECLOSURE PROCEEDINGS,
scores of people HAVE NOT LAWFULLY lost ownership of their properties,
and legally are STILL THE OWNERS, but they do not know it. Even worse,
some homeowners are being sued under "DEFICIENCY" judgments although
the foreclosure itself is null.
Debt Collector Attorneys deliberately file foreclosures naming defunct
mortgage companies, or companies which no longer hold the notes; or
affix collectors' fees exceeding "Acceleration Clauses." If
homeowners sue for "Unfair Debt Collection Practices," collectors make
more $$ through protracted litigations. Additionally, some collectors
file in Bankruptcy Court falsified motions to "Lift Stay" pleadings
for purposes of accomplishing SIMULATED AUCTIONS of real estate
properties.
For a purported debt of $86,000.00, through use of a non-existent
mortgage company, attorneys racked up more than a quarter of a million
dollars in litigation fees. Later, the property was sold to a 3rd
party for $37,000.00. Investors got nothing, nothing practical was
accomplished by evicting the homeowners, and neighborhood property
values declined.
Also, as an added measure to heighten chances of judicial favor,
collector attorneys propagate that defaulted property owners are
costing their clients a lot of money, while the true culprit is
collectors' fraud and racketeering. Exploiting distressed property
owners for purposes of making money from their predicaments and then lying on them to the
courts has to be the cruelest exploitation and maligning against
people faced with becoming homeless!
Because WELLS FARGO and FREDDIE MAC greatly benefit from fraudulent
foreclosures in States like Louisiana, ANY representation about $$$
billion dollar losses due to people defaulting on mortgages should be
weighed against needless payments of legal fees to law firms which
outmaneuver -and even persecute people who file court proceedings in
opposition to fraudulent foreclosures and repossessions. No results
came from constituents' reports and allegations to our local members
of the U.S. Congress about Wells Fargo and Freddie Mac. However, even
Rep. Richard Baker, R-La., spoke years ago of Freddie Mac's activities
as "entering ENRON territory" for which there was reason to "be
gravely concerned." See: CBS NEWS STORY
Despite the many probes into factors of the mortgage crisis, there has
been almost no investigation of the most lethal mortgage mess
component: DEBT COLLECTION ABUSE and JUDICIAL COLLUSION. The Feds
need to seek the whereabouts of perhaps billions of dollars and
massive amounts of real estate that winds up in the collector
attorneys' possession -as well as examine the scores of attorney
bankruptcy court frauds.
In August 2005,Freddie Mac evicted Louisiana property owners because
Freddie Mac falsely claims to have purchased their property in year
2005, from a mortgage company which has been defunct since year 2002.
**See Proof at: lawgrace.org
*Also posted at lawgrace.org is the "successor in interest" Affidavit for
that DEFUNCT mortgage company.
_____________________________________
Here's a few more links:
-Mortgage Mess, Foreclosure Fraud and Impediments to Justice
-ILLEGAL REAL ESTATE FLIPPING...
-Comment on the Foreclosure of Judge Reginald Badeaux's Home
-Federal Judges' Pay Raise; New Orleans Federal Judiciary Call To Impeach
Barbara Ann Jackson
Law & Grace, Inc.
www.lawgrace.org
Leukemia Survivor Reaches Landmark Settlement With TransUnion in ID Theft Case
Credit Reporting Company Agrees to Major Policy Changes in Handling Credit Fraud
SAN FRANCISCO, March 14 /PRNewswire/ -- Leukemia survivor Eric Drew announced today that he has reached a settlement with TransUnion over his lawsuit against the credit reporting company charging negligence pertaining to a case of identity theft.
TransUnion is the first of six credit reporting companies and banks which Drew has filed a federal lawsuit against to come to terms on the case. Litigation is still pending against Bank of America, Chase, Citibank,
Equifax and Experian.
Five years ago, Eric Drew was on his death bed with leukemia when his identity was stolen by a worker at the hospital where he was being treated. Credit was issued in his name to a fraudulent address in Washington State,
where he was hospitalized but wasn't a resident. Drew alleges that the banks did not verify the address or applications, and that when he called to complain from his hospital bed, he was told to submit paperwork to prove
that it wasn't him.
"I was fighting for my life, barely able to function, and then on top of all that, I had to leave the hospital to help find the criminal and fight to clear my credit," said Drew. "I was determined not to let cancer
or a thief get the best of me."
Eventually, with the help of local news media, the identity of the thief was revealed -- a lab technician who had access to Drew's medical information while conducting blood tests. This led to an unprecedented
arrest and the first federal conviction under the Health Information
Portability and Accountability Act (HIPAA).
But even this did not clear Drew's name. It took him two years to clear his credit reports of the fraudulent address and past due account information. "The main point of my lawsuit is to change the system so no
one else has to ever go through what I did," said Drew.
In this unprecedented settlement, TransUnion agreed on an undisclosed financial sum, as well as three major policy changes which they have agreed to implement in the next six months.
These policy changes include:
-- Protection for impaired (hospitalized or elderly) victims of identity
theft by allowing them or their caregivers to submit a verifiable note
from a doctor or medical facility in lieu of the traditionally required
police report and affidavit to have fraudulent items removed from their
credit report.
-- All victims of identity theft will have all information pertaining to
that theft permanently removed from their credit report even if it is
re-reported.
-- A free credit freeze for all victims of identity theft when they
request it.
"TransUnion has done a great thing here and should be praised for their
leadership," said Drew. "These policy changes will not only help impaired
victims of identity theft, but will also change the way that all Americans
are treated when they are victims of this crime."
In addition to being a crusader against identity theft, Drew has dedicated his life's work to providing advocacy and education to seriously ill patients and their families.
Learn more about Eric Drew and his efforts at drewfoundation.org.
TALLAHASSEE, FL – With Spring Break here and families planning for summer vacations, Attorney General Bill McCollum today issued a consumer advisory cautioning Florida residents and guests to be wary of the various scams and fraud which could be associated with vacation packages and other travel-related services. The Attorney General encouraged consumers to report travel-related fraud to his office, particularly issues related to improperly disclosed surcharges, misleading advertisements or problems associated with timeshares. Complaints about travel-related issues ranked third last year among the categories of complaints reported to the Attorney General’s Office.
“Florida is well-known for its allure to travelers, from both within the state and other locations, and we must protect not only our citizens and our guests but also our reputation as an attractive destination,” said Attorney General McCollum.
The Attorney General’s Office announced settlements earlier this week with two cruise lines over the imposition of a fuel supplement on cruise passengers. Royal Caribbean Cruise Lines and Celebrity Cruises agreed to refund $21 million to consumers nationwide who were charged the fuel surcharge after they had booked their cruise. The Attorney General commended the two cruise lines for their willingness to take actions to resolve this matter in their customers’ best interest. The settlements will serve as a model for the rest of the cruise line industry and the Attorney General expressed his expectation that the other companies would follow suit.
Other common travel-related problems are associated with vacation timeshares, which give consumers the right to use a vacation home for a limited, pre-planned period. Timeshare scams occur both at the time of the original purchase and at the point of resale. Victims of unscrupulous timeshare sales companies are often contacted either over the phone or are mailed a postcard asking the victim to call a toll-free phone number. Before consumers decide to either purchase or resell a timeshare, the Attorney General advised them to consider the following tips:
- Be wary of the hard sales pitch – When it comes to purchasing a new timeshare, the salesperson may give the impression that the papers have to be signed that same day. Consumers should remember that they always have the right to leave the sales office and come back later.
- Consumers should always read their contracts to determine what cancellation rights they have after the papers are signed. Before buying a timeshare, consumers should consider whether they will want to return to the same vacation spot each year.
- Be wary of too-good-to-be-true claims when it comes to resales – The company's salespeople are likely to claim that the market in the area where the resort is located is "hot" and that they are being overwhelmed with buyer requests for that resort. In some cases, the salespeople may even claim they have a buyer waiting in the wings who wants to buy the timeshare. Consumers should be skeptical of these types of claims.
- Question up-front fees – Most resale companies require consumers to pay a $300-500 advance listing fee before the sale of the timeshare can take place. In a typical real estate transaction, the fee is paid from the proceeds of the sale at the time of the sale. Consumers should also find out if the salespeople are licensed real estate brokers and should contact the licensing agency in the state where the company is located to determine if their license is valid, and whether there are any complaints lodged against the broker.
- Consider other options when it comes to resale – Consumers may want to try selling their timeshares "by owner" by placing advertisements in a newsletter or magazine read by potential timeshare buyers. A licensed real estate broker in the area where the resort is located may be another option. Some companies also offer contracts which allow consumers to exchange their timeshares for units in different areas.
The Attorney General encourages Florida consumers who wish to report fraud or scams to contact the Attorney General’s fraud hotline at 1-866-966-7226 or to file a complaint online HERE
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For additional Scam warnings & Tips search this blog's Archives
Harvard University is notifying thousands of graduate students and applicants that their personal information may have been exposed by a data breach.
The Ivy League school says a computer hacker gained entry to its server last month.
Harvard says about 10,000 of last year's applicants may have had their personal information compromised, with 6,600 having their Social Security numbers exposed.
Officials said there was no evidence to indicate the information, part of applicant data from the 2007-08 academic year, was stolen or had been used improperly, but that the possibility could not be ruled out.
"The university's initial examination did not reveal the full extent of the hack," Harvard said in a statement. "As the investigation continued, it became apparent that some sensitive applicant data, including Social Security numbers, could potentially have been accessed. The University has informed the GSAS community, and has apologized for the error."
Housing data from that year and the year before were exposed, as well.
The site was taken down from Feb. 17 to Feb. 21 to investigate the incident and improve security. Whoever was responsible has not been found.
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Amerindian Center warns about security breach
Workers' Social Security numbers, other data at risk
The United Amerindian Center — a downtown Green Bay nonprofit that serves needy urban Native Americans with services such as transportation and alcohol and drug abuse counseling — has cause to believe it is the victim of a security breach.
A letter from the center's board of directors sent earlier this month to the Brown County District Attorney's Office said a former employee may have had access to employee tax information on a center-owned computer that includes personal data, such as Social Security numbers and dates of birth. The letter asks for charges to be filed.
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See Prior Blog: Mission Improbable: Keeping Cyber Hackers Locked out of University Computers
HealthNow data goes missing as laptop vanishes... members may be at risk
HealthNow New York has alerted 40,000 members in Western and Northeastern New York that they may be at risk for identity theft, after a former employee’s laptop computer went missing with confidential information several months ago.
The Buffalo-based parent of Blue-Cross BlueShield of Western New York sent letters late last week to the affected customers, even though officials are still not certain what, if anything, was on the computer.
Based on the company’s investigation, the potential information includes names, dates of birth, Social Security numbers, addresses, employer group names, and health insurance identifier numbers. However, there was no health or medical claims information involved, spokeswoman Karen Merkel-Liberatore said late Monday. MORE
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Prior Blog: Horizon Blue Cross/Blue Shield is warning more than 300,000 members that some of their personal information was on a laptop computer that was stolen.
The Laptop contained names, Social Security numbers and other personal information for about 10 percent of the insurer’s 3.3 million customers in New Jersey. See prior Blog:
Laptop Stolen containing data on 300,000 customers of Horizon Blue Cross/Blue Shield
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Hospital donor files compromised...
Data breach at Cascade Healthcare may affect more than 11,500 people
A computer virus may have exposed to outside eyes the names, credit card numbers, dates of birth and home addresses of more than 11,500 individuals who donated to Cascade Healthcare Community, the parent company of St. Charles in Bend and Redmond.
The virus penetrated the computer system Dec. 11, and the hospital’s information technology staff believed they had rebuffed it. But Feb. 5, they detected suspicious activity in the system and called in computer forensic experts to investigate.
By Feb. 20, it became clear the information had been made vulnerable by the virus.
On Wednesday, the hospital announced the data may have been exposed. The data breach is a concern due to the potential for identity theft. More
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See my earlier Blog: Ongoing Data Breaches Continue to Prove Consumer Identities Remain at Risk
Consumers continue to be at "genuine" risk of fraud and identity theft when our personal identifying information is lost, stolen or pilfered from hacked databases on a daily basis. MORE
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To search a collection of public records pertaining to data breaches involving personal information obtained primarily from state governments click here.
Courtney Love: Smells like N.J. identity theft
Con men reputedly bought a $3.2 million mansion in New Jersey last year using the social security number of the Nirvana frontman Kurt Cobain, according to the late rocker's wife, Courtney Love.
Love told a London newspaper Thursday that grifters have pillaged Cobain's estate of about $60 million since 2003.
"I knew it had been going on since when I went cuckoo - bananas - in 2003. It was fraud after fraud," Love told The Sun. "But nobody believed me until now."
She reported the alleged thefts last week to the Los Angeles police.
"I did a check on my deceased husband's social security number and he has a house in New Brunswick, New Jersey. He bought it last year," she said.
"I would like to know how," Love said. "He should probably get his a-- back home if that is the case."
Officials in Middlesex County, where New Brunswick is located, could not be reached this morning for comment.
Cobain committed suicide in April 1994. His estate continues to gross about $10 million a year.
Love, 43, also claimed that the identity thieves have collected 188 credit cards that were issued in her name.
MORE
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Bizarre Identity Theft Case Revealed
Identity theft is a huge problem in the United States, and a case uncovered this week in Wichita proves just how easy it is for people to be taken advantage of.
Wichita Police have arrested a man and a woman after the man walked into a patrol substation and reported that he was an undercover agent who had assumed the identity of someone else.
Sergeant Bruce Watts says the man explained where he was living, so officers later went to the home in the 600 block of South Bluff to check it out. They discovered a very strange situation.
The same man who reported the incident the day before answered the door when the officers knocked. They realized he was living there with his wife. Neither were supposed to be there.
"These people had broken into this house," says Sergeant Bruce Watts. "They assumed the owner's identity, got credit cards, hooked up satellite TV, phone service, ordered new flat screen TVs, new laptops, even changed the locks and put up a new mailbox."
Watts says the man who owns the house has been gone for several months taking care of his sick mother in another town.
Meanwhile, neighbors on the street just thought someone new had moved in.
"These people had invited the neighbors over for dinner," Watts says. "They thought they were new homeowners or new renters and said that they were pleasant people."
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One man's struggle to reclaim his good name
Jeff Jones doesn't know where it happened, how it happened or when it happened.
All the Bel Air sales rep knows for sure is that someone swiped his Social Security number more than a year ago and opened Verizon Wireless and online accounts in his name 68 miles down the road in Washington.
Discovering the bad act by chance in January 2007, Jones quickly found out how a real case of identity theft can turn your world upside down. MORE
I use the word "real" because a lot of the estimated 7 million to 10 million cases of so-called identity theft reported each year really involve fraud - unauthorized charges showing up on your credit or debit card and the like. True identity theft occurs when someone uses your SSN, home address, driver's license or other personal data to commit fraud and open a new credit card account, take out loans, rent or buy cars and homes, or even get medical treatment at your expense.
The first you'll discover easily enough when you check your credit card bills or bank account, and federal rules protect you from being held liable in most cases. The other could go unnoticed for a long time - until you're denied credit when you need it most.
One is an irritant. The other, a nightmare.
"It was beyond hard and so frustrating," Jones, 28, said about his 10-month ordeal to take his identity back.
MORE
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38 arrested in Queens-based fake credit-card ring
New York police special investigators say they broke up a stolen credit card ring in Queens yesterday, arresting 38 people across the city and Long Island who printed phony credit cards with account numbers of American consumers whose numbers were stolen by a computer hacker in China.
The criminal enterprise, dubbed by the NYPD "The House of Cards," produced 3,000 fake credit cards a month, as well as phony driver's licenses from New York, Illinois and Washington, police said. It affected tens of thousands of customers, police said. MORE
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An Omaha woman whose identity was stolen by a cousin five years still finds herself being victimized.
Rachel Galvan is days away from realizing her dream. "To be a nurse, take care of kids.” Rachel worries about getting her nursing license and a job if court records are misdiagnosed. “It wasn't me, she did something wrong, this should go onto her."
Five years ago a cousin stole Rachel’s identity and used her name when arrested on three charges. Proof of the ID theft has erased Rachel’s name from law enforcement criminal records, but it remains on the state court computer for past filings. You have to wonder, though it says "dismissed," how an employer might react.
Nick Jasa runs One Source, a leading background checker for companies hiring new employees. “When you see 'dismissed' you think plea agreement or bargain, maybe turned the other guy in, so it will influence an employer, so it's very unfortunate for her it's on her report." MORE
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Consumers continue to be at "genuine" risk of fraud and identity theft when our personal identifying information is lost, stolen or pilfered from hacked databases on a daily basis.
It's remarkable that Experian claims the law (they helped write) allows “individuals” (not companies) to only place fraud alerts on our credit reports if we have “a genuine suspicion of imminent fraud.”
With the continued reports of massive data loss, not to mention the many reports that indicate an identity theft occurs every 3 seconds, (and 1 in 4 credit reports are contaminated with dirty data), who wouldn’t have a “genuine suspicion” that their identity or data is at risk?
Technological advances continue to make it increasingly difficult to protect our identities from innovative criminals with pioneering minds.
Simple commonsense tells us we should utilize any and all safeguards available to proactively prevent or reduce the effects of fraud. Fraud Alerts are a good line of defense that many of us choose to activate. Fraud alerts it would seem, should be welcomed by responsible creditors and the cra's who want to help fight against the costly effects of fraud. It's easy to understand that fraud alerts and id theft prevention services put a huge dent Experian's profits -but that shouldn't be our concern. Rest assured they still profit from the sale of our information and won't go out of business anytime soon.
Experian’s lawsuit won't just affect LifeLock, it could ultimately affect our rights to maintain active fraud alerts and our ability to ensure our credit and identity remains just that ...ours!
Here's a few of the latest reported data breaches...
Breach of MTV Computer Files
LOS ANGELES (Reuters) — Computer files with confidential data on about 5,000 employees at MTV Networks were breached by someone outside the company, the network told employees on Friday in a memo.
MTV later said in a statement that the security breach occurred after an Internet connection in an employee’s computer was compromised.
Although it was not immediately clear whether the password-protected files were opened, MTV, a division of Viacom, notified law enforcement authorities and a credit monitoring company to safeguard the identities of the affected employees, the statement said. MORE
Ten Most Recent (Reported) Data Breaches according to attritrion.org/dataloss
Cascade Healthcare Community - [2008-03-06]
(Computer virus exposes credit card information, names, and addresses of more than 11,500)
Nevada Department of Public Safety - [2008-03-05]
(Social Security numbers and addresses of 109 on lost thumb drive)
Madeley Health Centre (UK) - [2008-03-05]
(Names, addresses, dates of birth and medical treatment details of 238 on stolen memory stick)
Kraft Foods - [2008-03-03]
(Missing laptop contains names and possibly Social Security numbers of 20,000)
Wellesley Health Department - [2008-02-29]
(Social Security numbers, names, addresses, and dates of birth for about 480 lost from open envelope)
Health Net Federal Services - [2008-02-27]
(Social Security numbers for 103,000 posted on web)
Mecklenburg County, North Carolina (NC) - [2008-02-25]
(400 account numbers in stolen vehicle)
Newfoundland Eastern School District - [2008-02-21]
(Medicare numbers, names, and addresses of 28,000 students on stolen laptop)
Texas A&M University - [2008-02-16]
(Names and Social Security numbers of 3,000 inadvertantly posted online)
First Magnus Financial - [2008-02-15]
(Thousands of documents containing Social Security numbers, credit card information, addresses recovered from trash)
To veiw details on each of these visit Attrition.org/dataloss
View an additional 43 incidents for 2008 alone, check out the archives from 2000 through 2008 and read the specifics...
click here click here.
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To view the top five tips to prevent identity theft visit prior blog here.
Consumers Union, publisher of Consumer Reports is an independent, testing and information non-profit organization that serves only consumers. They are a comprehensive source for unbiased advice about products and services, personal finance, health and nutrition, and other consumer concerns.
HearUsNow.org a project of Consumers Union is pushing for better and more affordable cell phone services for consumers.
Watch their new video spoof –and then create and submit your own.
Consumers Union testified February 27th on behalf of all cell phone customers--and now, after years of delay, Congress is finally stepping in for your benefit. HearUsNow.org believes it's time that companies compete for our business based on the quality of service and price, and not profit from misleading claims and hidden costs.
Has your cell phone company trapped you with a whopping early termination fee—$150 to $200?
They may also "lock" the phone itself, to make doubly sure you don't leave, even if the service is poor.
Simple reforms will help lower your price and improve your service:
* stop cell phone locking, so you don't have to throw your phone in the trash when you switch companies;
* eliminate or pro-rate early termination penalties;
* allow any legal application--such as instant messaging or maps--on your phone that you want.
Another legitimate complaint consumers have with cell phone companies...don't make promises you don't plan to keep! Consumers often make decisions on which cell phone to purchase based on promised "rebates". However, many report they submit the proper forms required to claim the rebate -but the rebate is later denied or never received.
Consumers Union has made it easy to send your message to Congress. Just click here.
Public Citizen Wins California Consumer Case on Appeal
In a win for consumers, a federal appeals court ruled that a private California debt collector can be sued for its overly aggressive tactics, even though the company is working on the behalf of local prosecutors.
Public Citizen has won a case before a San Francisco appellate court, which ruled that just because a private company contracted with local prosecutors, it was not an arm of government and did not have the protection of sovereign immunity. In making its ruling, the court gave consumers the right to sue the company over its aggressive collection tactics.
The company, American Corrective Counseling Services Inc. (ACCS), is a so-called “check diversion” company, meaning that it uses its contract with local prosecutors to send out letters on official stationary threatening consumers who have written bad checks with criminal prosecution or jail unless they pay collection fees.
The company then gives the prosecutors a share of its revenues. In the suit, Del Campo v. ACCS, California consumers represented by Public Citizen claim that ACCS’s threats of prosecution violated their rights under state and federal consumer protection laws.
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Are collection companies harassing you about a bill you supposedly owe?
See prior blog: How to Deal with Abusive Debt Collectors: Do you know your rights?
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Rogue debt collectors -- how to fight them
A recent CNN report by Jen Haley, outlines some basic rights you have under the Fair Debt Collection Practices Act:
A debt collector cannot call you before 8 a.m. or after 9 p.m., unless you agree.
You cannot be contacted at work if the collector knows your employer disapproves.
If you don't want to hear from a debt collector, write a letter telling them to stop. By law, they have to. Remember, the debt won't go away and you can still be sued.
The debt collector can contact your attorney -- if you have one. If not, your friends and family can be asked about how to get in touch with you.
A debt collector can't misrepresent the amount of your debt.
A debt collector also cannot use profane or threatening language
Debt collectors can't say that they will put a lien on your property or file a lawsuit unless the agency really means to do that and it's legal.
Collectors can't legally claim federal benefits, such as Social Security or your retirement accounts, like your IRA or 401(k).
Once you're contacted by phone, you have the right to get a notice that outlines your debt, whom you owe money to, and what action to take if you don't owe the money. Keep in mind that a debt collector can collect a debt owed by an ex-spouse. If the debt was incurred while you married, you may be liable for the debt after a divorce even if the divorce papers state your spouse is responsible for paying off the debt.
If you've been contacted by a debt collector, but you don't think you owe a debt, you must write a return letter stating that the debt is not yours within 30 days. Once a collector receives your letter, they should send you proof of the debt, such as a copy of the bill. Don't be coerced into paying a debt you don't owe. If you do pay just to get rid of the debt collectors, it's an admission of guilt, and it will have a negative impact on your credit score.
Keep in mind that some debt has an expiration date. There is a limit to how long collectors can legally collect your debt. MORE