CFPB Report on Student Loan Servicing Shows Same Predatory Tactics as Mortgage Servicing

CFPB Report on Student Loan Servicing Shows Same Predatory Tactics as Mortgage Servicing

And here’s the thing…many of us…specially us single divorced women, mother of four types, were victim of predatory lending in housing AND financial aid. And then folks wonder why we stupid poor women can’t get ahead!! They target minorities, women and elderly. So we are toooo stupid to be treated with fairness and dignity. It’s a double whammy. To top it all off, many of us struggle with health insurance issues, add to that child support (and those guys who just suddenly out of no where stop paying- one of the number one causes of bankruptcy for women next to health care). Then add all the predatory “fixers” like “foreclosure help”, and “loan consolidation” and “quick loans”. Oh and one more thing to make you lose your freakin’ mind…yah, you need a good credit report to get car insurance rates, and to get an apartment, and to get a job!!!

Happy freakin’ day to the poor suckers who have been hit by all of these issues. In my household this is the reality of my life.

predatory student loans from a private college in 1998 predatory housing loan in 2001 health care crises emergency major surgery in 2000 Mrsa infection that sets up a chronic health condition marry a union guy who loses his job (after 9 years of consecutive work) Ex husband suddenly quit paying child support after 10 years of consistent payment Check fees from automatic payments that reach as much as my house payment A missed house payment surviving on 2000 a month with a 1200 house payment. Domestic violence counselor who gets all funding cut through the course of 8 years of Bush with each year cutting more and more. Increased health insurance costs, increased deductibles. 5000$ deductible. Mrsa infection discovered due to septicemia with a 5000 deductible. second missed house payment foreclosure. Foreclosure fraud. 10,000.00 in additional fees on house loan. No enforcement of child support. Ex now owes 14,000 in back support Husband still unemployed sitting the bench with union My dv counseling job ends, laid off. Husband goes back to work in the nick of time.

owe 56,000 in student loans and fees, 10,000 in fees on my predatory house loan totally caught up with payments. No one to fight the fees.

Ex finally pays child support back but my credit is ruined.

It all ends well, but my credit was destroyed and it started with a 750 average.

Most of these issues were no fault of my own.

And I am not alone. How many others have been hit by not just one variable but multiples???? MOST OF US!!!

There has been no validation or accountability.