For starters, let’s look at the original premise of the law, to protect Georgia consumers from scam credit repair companies. Have you ever heard of a scammer who was afraid to break a law – or even cared about the laws? The law just stopped legitimate and reputable credit repair companies from offering services in Georgia. Although the scam companies continue to prey on Georgia consumers to this day; reputable and legitimate credit repair services are not available in Georgia.
How have Georgia Consumers fared over the last decade with limited access to credit help? According to a recent 2018 study by Experian, Georgia is the 3rd worst credit score in the country! My first thought when I looked at that figure was that maybe Georgia is just a poorer state and the residents don’t have a lot of income to pay their bills. After a quick Google search I found that Georgia is 29th in the country for median income. Hmmm, a decent income yet very low credit scores could this be because Georgia Consumers do not have access to the same credit help that Consumers in every other state have access to?
Alright so Georgia has very low credit scores – what’s the big deal? For starters, it has affected Georgian’s ability to own a home. Georgia ranks 40th in the country for homeownership rates according to the US Census Bureau. Fortieth is really even lower than it seems when you take into consideration some states that are very low because of high median home prices such as Hawaii with a median home price of $631,700, California with a median home price of $546,800, Massachusetts with a median home price of $400,700, and New York with a median home price of $325.000. Obviously, very expensive homes will make home ownership difficult. But with Georgia’s median home price sitting at a modest $188,900 why are Georgians having such a tough time acquiring home ownership? The answer is again those low credit scores which are keeping a significant percentage of Georgians from credit qualifying for home loans.
For comparison let’s look at Vermont which has a median income at number 21, a little better than Georgia’s 29th. But Vermont has the 2nd best credit scores in the country which has led to the 2nd best homeownership rates in the country driving median home prices up (more buyers available) to $233,100. Another state to look at is Maine who ranks 24th in median income as compared to Georgia’s 29th. Maine however has the 13th best credit score which has propelled it to number 6 in the homeownership rate and a median home price of $197,500.
Let’s look at a state with almost the same median income and median home price, Wisconsin. Wisconsin’s median home price is $188,500 virtually identical to Georgia’s $189,900 and a median income of 24th on the list which is pretty close to Georgia’s 29th. With those two similarities, the only difference is in the credit score where Wisconsin has the 7th best in the country which has propelled them to number 20 on the homeownership index as opposed to Georgia’s 40th.
Let’s look at a couple of other states who have lower income and credit scores and see how they rank on the homeownership scale. South Carolina is 43rd on the list of median income – substantially poorer than Georgia, with average credit scores that are the 7th worst in the country which are pretty close to Georgia’s 3rd worst. So how did South Carolina fare on the homeownership index – pretty well, coming in at 12th! So how did South Carolina do it? The answer is simple with a median home price of $170,800. In this example if Georgia wants to increase its homeownership rate like South Carolina, it could do so by a decline in the median home price which no one wants! Another example of this is Alabama. Alabama has the 46th worst income, tied Georgia for the 3rd worst credit score, yet still came in 16th in home ownership by having an extremely low median home price of $147,900.
Is Georgia right and the other 49 states in the country wrong? Should Credit Repair be illegal unless you are a nonprofit or an attorney? I don’t think so. I feel that many other states have done the right thing and allowed reputable credit repair companies to operate in accordance with the Federal Law: The Credit Repair Organizations Act which was devised and implemented by the Federal government to regulate Credit Service Organization.
Georgia has tried the “experiment” of making credit repair illegal in the hopes of protecting Georgian consumers but it has backfired. Georgians are suffering from low credit scores which has hurt them when it comes to things like home ownership.
More information: www.creditrepairingeorgia.com.
SOURCE Georgia Credit Repair Trade Association
Division of Consumer Affairs Releases Top Ten 2020 Consumer Complaint Categories
Tuesday, March 02, 2021 | 11:27am
Nashville- The Tennessee Attorney General’s Office Division of Consumer Affairs (DCA) announced the top ten complaint categories for 2020.
DCA received a total of 4,053 complaints in 2020 and recovered both services and funds for Tennessee by working with consumers and businesses. Overall, the number of consumer complaints decreased slightly in 2020 compared to 2019 when 4,250 complaints were reviewed by Consumer Affairs. The Division’s staff works to quickly route complaints so that appropriate action can be taken in cases where deceptive business practices, frauds or scams are identified.
2020 Top Ten Complaint Categories:
- Home Improvements, Home Repair, Home Warranties: 497 complaints
Home warranties, as well as hiring a contractor for services to repair or improve the quality of your home. The most common complaints involve quality of work, incomplete work after receiving payment, and structural damage caused by employed individuals or businesses. Many of these complaints are referred to the Tennessee Board for Licensing Contractors.
- Price Gouging: 343 complaints
Complaints alleging unreasonable price increases on essential items such as groceries and medical supplies. Price increases are generally considered by evaluating several factors including the pre-existing price agreements and increases in cost by suppliers.
- Personal/Professional Services: 329 complaints
Services offered by professionals working in the State of Tennessee, including hair stylists, massage therapists, locksmiths, exterminators, photographers, surveyors, and others. Common complaints include the quality of service, charges for service not received, and problems redeeming gift certificates for services offered. Complaints in this category are sometimes referred to the TN Department of Commerce & Insurance’s Division of Regulatory Boards and the TN Board of Professional Responsibility.
- Landlord/Tenant: 289 complaints
The most common complaints relate to security deposits and the conditions of the rental property. These complaints are commonly referred to city and county building codes enforcement and the State Fire Marshal’s Office.
- Internet Sales: 281 complaints
Consumer dissatisfaction with items or services purchased online. Common complaints include issues with refunds and returns, or the product or service not being provided after payment. Often, the product or service was solicited via email or social media advertisements. The Division of Consumer Affairs works to mediate these complaints.
- Motor Vehicle- Used Sales & Advertising: 266 complaints
Consumer dissatisfaction with the purchase of used vehicles. Disputes over the vehicle’s condition and deception regarding the sale, advertising, and titling are the most common complaints. Consumer Affairs works closely with the TN Motor Vehicle Commission in this category. In addition, these complaints may be referred to the National Highway Traffic Safety Administration (NHTSA) and the TN Department of Revenue.
- Heath Services & Products: 228 complaints
Complaints include inaccurate billing and misquoting services. The Division may mediate complaints or refer appropriate complaints to the TN Department of Health.
- Debtor/Creditor: 225 complaints
This category includes matters related to debt collection companies, payday loans, credit repair companies, and check-cashing services. Consumers report harassing phone calls or billing issues. These complaints are often referred to the TN Department of Financial Institutions and the TN Department of Commerce & Insurance’s Regulatory Boards Division.
- Timeshare/Vacation Clubs: 223 complaints
Complaints related to the purchase of property under a timesharing agreement and the sale of these agreements. The most common complaints report high-pressure sales tactics, misrepresentation of the contract, and resale scams. The Division will often refer these complaints to the TN Real Estate Commission and the TN Board of Professional Responsibility.
- Travel: 183 complaints
This category includes consumer disputes involving travel-related issues such as hotel or rental cabin stays. Many complaints involved requests for refunds because of COVID-19.
Credit Repair Services Market to Witness Increase in Revenues by 2027 – NeighborWebSJ
The Research report on the Global Credit Repair Services Market looks into current and historical values to present projections for vital market indicators. It studies regional as well as key domestic markets to present a satisfactory picture about the growth of the global market for Credit Repair Services Industry over the forecast period. The introductory part of the report includes terms and terminologies, conventions, and notations that are relevant in the context of Credit Repair Services Market. This is followed by a discussion on industry statutes, industry chain structures, and industry growth policies that are in the purview of the Credit Repair Services Market. Demand and supply logistics, production size, product rating and yield, and import/export behaviour are the key parameters that have been studied across geographical markets of Credit Repair Services Industry.
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Some of the key players in the Global Credit Repair Services market are Lexington Law, CreditRepair.com, Sky Blue Credit Repair, The Credit People, Ovation, MyCreditGroup, Veracity Credit Consultants, MSI Credit Solutions, The Credit Pros.
Additionally, it offers a clear understanding of global Credit Repair Services market attributes such as production volume, values, market shares, and size. It also elaborates on global trading factors such as import, export, and local consumption. Moreover, it offers a competitive landscape of the global Credit Repair Services market by providing the business profiles of various top-level industries. Collectively, it offers up-to-date informative data of global Credit Repair Services market which will be beneficial to make informed decisions in the businesses.
Regionally, this market has been inspected across various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, and Europe on the basis of productivity and manufacturing base. Some significant key players have been profiled in this research report to get an overview and strategies carried out by them. Degree of competition has been given by analyzing the global Credit Repair Services market at domestic as well as a global platform. This global Credit Repair Services market has been examined through industry analysis techniques such as SWOT and Porter’s five techniques.
Global Credit Repair Services Market Segmentation
The top segments in the market have been highlighted clearly in this report for the readers to understand in a précised manner. These segments have been presented by giving information on their current and predicted state by the end of the forecast period. The information presented would help the upcoming players to gauge the investment scope within the segments and sub-segments of the global Credit Repair Services market.
By Industrial Credit Repair Services Market Product-Types: Product Type I, Product Type II, Product Type III
By Industrial Credit Repair Services Market Applications: Application I, Application II, Application III
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Key questions answered in the report:
- What is the Keyword Market’s Growth Potential?
- Which product segment will get the lion’s share?
- Which regional market will lead in the coming years?
- Which application segment will grow steadily?
- What growth opportunities could arise in the Credit Repair Services industry in the coming years?
- What are the main challenges for the Credit Repair Services market in the future?
- Which companies lead the Credit Repair Services market?
- What are the main trends that are positively influencing market growth?
- What growth strategies are players considering to stay in the Credit Repair Services market?
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Further key aspects of the report indicate that:
Chapter 1: Research Scope: Product Definition, Type, End-Use & Methodology
Chapter 2: Global Industry Summary
Chapter 3: Market Dynamics
Chapter 4: Global Market Segmentation by region, type and End-Use
Chapter 5: North America Market Segmentation by region, type and End-Use
Chapter 6: Europe Market Segmentation by region, type and End-Use
Chapter 7: Asia-Pacific Market Segmentation by region, type and End-Use
Chapter 8: South America Market Segmentation by region, type and End-Use
Chapter 9: Middle East and Africa Market Segmentation by region, type and End-Use.
Chapter 10: Market Competition by Companies
Chapter 11: Market forecast and environment forecast.
Chapter 12: Industry Summary.
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Attorney General Nessel announces top 10 consumer complaints of 2020 | WJMN
LANSING, Mich. (WJMN) – Michigan Attorney General Dana Nessel announced Michigan’s Top 10 Consumer Complaints for 2020 to celebrate the importance of National Consumer Protection Week and to help people make informed decisions about how to safely spend their money.
The Michigan Department of Attorney General received and processed nearly 24,000 consumer complaints.
“Each year, my office tracks consumer complaints to ensure that we’re keeping Michiganders informed on crucial details to protect their wallets,” said Nessel. “A common thread every year is the framework bad actors continue to use, which always includes: a sense of urgency, untraceable payment methods, and an offer too good to be true. The Department of Attorney General is committed to being your connection to consumer protection and I encourage everyone to take advantage of the wealth of resources we have to offer during National Consumer Protection Week and beyond.”
The object of any scam is to steal money or obtain personal information by convincing a victim of the need to part with it. Scammers prey on anyone and use clever tactics to convince their victims to hand over money or personal information through deceit, coercion, intimidation, fear and empty promises. These tactics coupled with a sense of urgency put pressure on the victim to make an immediate decision.
Michigan’s Top 10 Consumer Complaint Categories of 2020:
Nessel’s Top 10 list is compiled by analyzing all complaints filed with the Attorney General’s Consumer Protection Team. Thanks to the hard work of the Consumer Protection Team, the Attorney General’s office was able to recover $517,864.10 in consumer refunds, forgiven debt and other recoveries.
- Robocalls (5,516 complaints). As a new category in the top 10, it includes illegal robocalls, telephone solicitations and telemarketing. With the launch of Michigan’s Robocall Crackdown Team in late 2019, Michigan is now recognized as a leader in combatting illegal robocalls. In 2020, Attorney General Nessel joined six other states in filing a major lawsuit against a pair of Texas businesses accused of blasting out billions of illegal robocalls. Rising Eagle Capital Group LLC and JSquared Telecom LLC are both believed to be responsible for more than 42 million illegal robocalls to Michigan residents over a five-month period in 2019 alone.
- Price-gouging (4,522 complaints). This is the first time that price-gouging has made the top 10 list. Most consumers reported significant price increases on items such as face masks, gloves, toiletries, food and other items during the COVID-19 outbreak. In 2020, the Attorney General’s office took action against many businesses and individuals seeking to profit from consumer panic during the pandemic.
- Retail (2,433 complaints). Retail complaints include purchases that involved late deliveries or products that were never delivered. Other complaints include the purchases of appliances, furniture and other items that were defective or did not work as advertised.
- Telecommunications, Cable, and Satellite TV (1,880 complaints). This category includes complaints against wireless communications, cable and satellite TV services with most of the reports being billing and service issues. (NOTE: This category does not include robocalls, which has its own category.)
- Internet (1,275 complaints). A significant number of these complaints involve online purchases, as well as computer communications and technology, and internet service providers.
- Personal Service Providers (953 complaints). This category covers dating services, beauty companies, fitness facilities, spas, home security and tax preparation services.
- Credit and Financial Concerns (880 complaints). This category covers a variety of areas including debt collection and reporting, credit repair, payday lending and mortgage brokering. In 2020, the department settled a lawsuit against tribal officials associated with an online tribal lender that resulted in the lender discontinuing its services to Michigan residents and collecting only outstanding principal amount on remaining active accounts.
- Landlord/Tenant (786 complaints). This category involves disputes between renters and apartment owners or property management companies, mobile home parks and site operators, as well as condominium associations. Most complaints report on living conditions and contract disputes.
- Motor Vehicle and Automobile (670 complaints). Complaints against used car dealers continue to top this category, followed by auto repair shops, new car dealers and passenger car rentals. This category involves issues from shoddy repair work to service issues.
- Travel (547 complaints). This category includes complaints against travel agents, travel clubs, time-shares and time-share exit companies.
“In a year that was unprecedented in many ways, I want to thank our Consumer Protection Team for their resilience and dedication to ensuring that every complaint was addressed,” said Nessel.
Throughout National Consumer Protection Week and the entire month of March, consumers can follow along on the Department’s Facebook, Twitter and Instagram pages for daily consumer protection information.
Your connection to consumer protection is just a click or phone call away. Consumer complaints can be filed online at the Attorney General’s website, or by calling 877-765-8388.
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