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USOBA Members Dropping Like Flies

I’d love to write more about this subject if Jenna Keehnen, the executive director of USOBA would ever return emails. Can you tell I’m a bit frustrated. In fact, let me rant for a moment. You want to know what the hardest part about writing stories on debt relief companies is, it is getting them to responsed to questions or inquiries. I always want to get the other side of the story out but USOBA, debt settlement companies, credit repair firms, and others just never respond. Rant over. There, I feel a bit better.

Anyway, Daily Finance is reporting Keehen as saying, “that 12 of the association’s members have already gone out of business in August, two months before the deadline, and “I do expect to lose quite a few more.”

I have politely asked USOBA for a list of these members but since they won’t even provide a membership list, I’m not holding my breath. Yep, still frustrated.

My concern is for consumers that have paid for debt settlement services and their companies go out of business. I expect to see a number of bankruptcy cases by debt settlement firms that close up.

USOBA Members Dropping Like Flies
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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Damon Day

    Well nobody should be surprised by this. They told everyone that it was likely that 85% of their members will be going out of business if this law passed. So, any consumer that is currently enrolled in a program that front loaded your fees, and is a member of USOBA, I suggest you seriously consider getting out and asking for a refund before it is too late. Once they are gone, their gone, and your money will go with them.

    Damon Day’s Last Blog Post: Mass Exodus in Debt Settlement Industry, Consumers Take Heed or be Trampled

  • http://DamonDay.com Damon Day

    Well nobody should be surprised by this. They told everyone that it was likely that 85% of their members will be going out of business if this law passed. So, any consumer that is currently enrolled in a program that front loaded your fees, and is a member of USOBA, I suggest you seriously consider getting out and asking for a refund before it is too late. Once they are gone, their gone, and your money will go with them.

    Damon Day’s Last Blog Post: Mass Exodus in Debt Settlement Industry, Consumers Take Heed or be Trampled

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