Consumer Awareness

Hospital Admission – Ask A Crucial Question

When admitted to a hospital every patient is classified by one of two statues: Inpatient Status or Observation Status. Why it matters:  the admitting doctor’s decision will determine the level of support that is available after discharge. This admission status determines important Medicare benefits, like who will pay for rehab and other services required by the patient. Observation status is typically assigned when a patient goes to emergency room then later admitted to the hospital; and Medicare benefits are drastically reduced in this scenario. What you can do: immediately ask the attending physician: “What status is being assigned, in-patient or observation status?” AARP urges that you know your options.  Click link for the full text of AARP report. Beware Observation Status.   Source AARP report, Feb 2018

Student Protection from Predatory Lending

Predatory lending, while not a new issue for consumers. has crept into the student loan industry. Similar to the period of predatory mortgage lending in the early 2000’s, these practices can be tamed with consumer action and proper federal oversight.

Tasked with taming the beast in 2011, the Consumer Finance Protection Bureau ultimately returned $12 billion to 29 million people who were wronged by financial institutions. Today’s target of predatory lenders is student borrowers.  But the the newly appointment head of this federal agency, has a track record that raises serious questions about conflict of interest, and outcries are gaining momentum. In particular Elizabeth Warren, the Massachusetts Senator whose relentless efforts to create the Bureau are credited with laying the foundation for much needed federal oversight in consumer borrowing. Warren Slams as “Outrageous” the new appointee of CFPB

Today’s student loan borrowers are poised to elevate the narrative and ensure lenders are held accountable to the highest standards in fair lending practices. While lenders would like to keep their predatory practices undercover and take advantage of the change in leadership at CFPB, a number exposes have been written to keep a spotlight on them Sarah O’Brien uncovered the pattern in here article. CFPB Under Siege since 2017.

Student Loan Borrower Alert! Victimized student loan borrowers and their families are being victimized are mobilizing. One method is to grab the resources of the protection of the Consumer Finance Protection Bureau (CFPB), and lodge written complaints against tactics that are designed to keep borrowers underwater in debt for a lifetime. Now is the time to gain better understanding of and its important role. Specifically, the price of higher education will not become permanent financial jeopardy for consumers. Written complaints will keep this topic in the forefront. Your direct access is here. Complaint link to CFPB.