1000 Financially Stressed Consumers Graduate from the Attorney Based Debt Resolution Program

The following is a press release from the credit or debt world. The publication of this release by this site is not an endorsement of the release.

(I-Newswire) September 9, 2010 – LOS ANGELES…….. Debt settlement remains under the spotlight, however the fact is for many Americans is has been a great success. For Morgan Drexen, Inc., the Numbers speak for themselves as they congratulate the 1000th graduate represented by an attorney based debt resolution program supported by Morgan Drexen.

Morgan Drexen works with attorneys throughout the nation, in providing automated legal software and automated support to help consumers in financial hardship. These attorneys offer an evolving alternative to traditional debt settlement. Their two-tiered debt resolution program aims to prevent consumers facing the adversity that comes with bankruptcy. This week, the number of consumers helped by this alternative debt settlement method reached 1000 consumers.

Morgan Drexen CEO Walter Ledda says, “This week the number of consumers helped by this alternative debt settlement method reached a staggering 1000 customers. That is 1000 families that will no longer be afraid to answer the phone in fear that it is a creditor harassing and threatening them.”

The administrative automated and legal support given by Morgan Drexen allows attorneys to focus on the consumer and their financial needs.

Eric Rosen an attorney licensed in both New York and Florida says: “I am thrilled. Reaching these milestones make the Friday evening and the 9:00 p.m. calls with clients worthwhile.”

Debt resolution is not a one size fits all settlement but with more than $15 million of debt reduction. The debt was settled at around 40 cents on the dollar. This program clearly is a big success.

Vincent D Howard an attorney licensed in California says.“ During these tough economic times, it feels good to know that 1000 families have returned to a debt free standard of living and that they got there with the help of our law firm’s partnership with Morgan Drexen.”

Michael Ray, a California resident contacted The Howard/Nassiri Law firm concerned about his $18,000 debt. He says. “ Creditors were calling, my wages were garnished. I hired the attorneys and everything stopped. That was a good thing.”

Christopher Hewitt was the 1000th graduate. His medical debt of $15,000 was more than he could cope with. “ I met with the attorneys. They set me up with a payment plan that included the fees and paying off my account. I am very relieved.”
California

Media Contact

Office: 714 923 1500
Cell: 714 328 0364

About Morgan Drexen:
Morgan Drexen work with local and regional attorneys to substantially lower credit card and other unsecured deb. They strive to help consumers build a secure financial future.

Company Contact Information
Morgan Drexen
Raychel Harvey – Jones
1600 South Douglass Rd.
Anaheim
92806
Phone : 800-868-1458

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  • http://twitter.com/fraudsniffer CMS

    I have one more question. But this is going to go to the FTC directly tomorrow…  

    How does a “software company” who feels they are “exempt from the TSR” have graduates of any kind, let alone a debt settlement plan? So they are admitting in their own press releases they are full of shit. They say they are a company that offers software to help attorneys. It’s not surprising how the most elementary of mistakes get companies shut down. 
    You are on my list Morgan Drexen. Companies should not be allowed to make the kind of money you do when you have so many hard working people’s money feeding your cash cow by deceptive sales and overwhelmingly non-compliant practices. You and all your attorneys are eventually going down. And I will help in every way possible. 

    Some people may not see through “supported by Morgan Drexen” but I will help them.

    • Question

      I have a question for you, and this is a serious question and not meant as a personal attack, this could be asked to anyone that owns/operates a DS company.  Let ask this question with regards to your old company SettleFirst (SF).  If I were to come in and audit SF, and I made a list of every state you had at least one client, could you show me a state license registration for every one of those states under that state legislation requirements at the time?  And before you answer that keep in mind you can go to every state and verify licensee past and present on states websites.  The reason I ask is because I read a lot of the debates in these blogs and people defend companies based on how much help they give the consumer, how long they’ve been in the industry, how well their company performs etc.
       
      Now I ask you this question.  You take drivers education, you pass and you’re an excellent driver.  You know all the rules and obey them, (well most of them, at least all the major ones you know of).  But you never go down to the DMV and take your drivers test and get your license.  You never register your car, insure it or get a state inspection sticker. You get in your car, start it up, drive it down the road to the store obeying all the rules to get medicine for your sick neighbors child.  Are you operating legally, or illegally?  And then during your drive to the store, to get medicine for your sick neighbors child, you get into an accident that involves another person.  Remember it’s an accident, not an on purpose, that’s why they call it an accident b/c you didn’t do it on purpose.  The authorities are called to the scene, what do you think will happen when they show up?

      • http://twitter.com/fraudsniffer CMS

        Great analogy. As far as SF went, applications were sent to multiple states, bonds were in process and we were only marketing in states that didn’t require registration and or licensing out of the gate.

        To address your comparison, “accidentally breaking the law” is no excuse to break it. Unfortunately, almost all the violations in this industry are maliciously designed from the onset to be a regulatory  ”workaround”… The accidents are one thing; but how many honest “Oopsies” are there?  Fines would work and would likely not justify being shut down; Hence some traffic violations can be handled with traffic school and others you lose your license. The degree of the violation matters and I feel companies (like this and others) are operating maliciously with a “legit” front. 

        Keep in mind, I worked at his last company; the one that got shut down by the FTC and earned him an 83M judgment. There are very few differences in his old model and this one.  

  • http://twitter.com/fraudsniffer CMS

    I have one more question. But this is going to go to the FTC directly tomorrow…  

    How does a “software company” who feels they are “exempt from the TSR” have graduates of any kind, let alone a debt settlement plan? So they are admitting in their own press releases they are full of shit. They say they are a company that offers software to help attorneys. It’s not surprising how the most elementary of mistakes get companies shut down. 
    You are on my list Morgan Drexen. Companies should not be allowed to make the kind of money you do when you have so many hard working people’s money feeding your cash cow by deceptive sales and overwhelmingly non-compliant practices. You and all your attorneys are eventually going down. And I will help in every way possible. 

    Some people may not see through “supported by Morgan Drexen” but I will help them.

  • http://twitter.com/fraudsniffer CMS

    1000 graduates? Out of how many enrollments? What a crock. If I know Walter, I’d bet there have been a significant amount over 50,000 enrollments since inception. So.. that’s 1000 of how many Rachel Harvey-Jones? Let’s post this Rachel: How much is the retainer fee? It’s like 18% of the debt amount or something, and it is paid up front right? Because the TSR doesn’t apply to Walter, of course. And whats the MSF, and then there’s also a savings percentage fee as well, right? That is 30% I believe, isn’t it. 
     And as for the “returning to a debt free standard of living”… Well, That was the National Consumer Council’s tag line. I said it a hundred and fifty times a day when I worked there… Still, after an $83.5M judgment with the FTC, having his hand in other companies along the way, and now he is still  ”returning Americans to a debt free standard of living” Walter shows he is nothing more than a one trick pony preying on people in need… 

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