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Home > Debt Relief Industry > Consumer & Business Debt Counseling (CBDC). What is Going On? On the Radar.

Consumer & Business Debt Counseling (CBDC). What is Going On? On the Radar.

A tipster (send in your tips here) contacted me and said that Legal Helpers Debt Resolution is sending their debt management leads to Consumer & Business Debt Counseling Services (CBDC) in Florida.

It only took a moment for me to become very concerned after visiting their site at CBDC.us. Not only is their site distributing malicious software to unsuspecting surfers but other things appear odd as well.

Consumer & Business Debt Counseling (CBDC). What is Going On? On the Radar.

According to the public return of CBDC, as a charity, in 2009 they brought in $2,341,400 in program revenue. That’s $2.3 Million! Yet the CBDC.us website appears to not have had their news updated since December of 2005.

Consumer & Business Debt Counseling (CBDC). What is Going On? On the Radar.

Visiting consumer can’t even enroll in their program.

Consumer & Business Debt Counseling (CBDC). What is Going On? On the Radar.

And then there is this interesting table as part of the public 990 tax return for CBDC. – Source

Their highest paid contractors have either closed in disgrace or suffer with poor reputations.

Johnson Law Group – Click Here Closed
The Credit Exchange – Click Here Closed
White Cap Financial Services
Hess Kennedy & Company – Click Here Closed
Credit One Debt Solutions – Click Here Closed

What are the odds of one nonprofit credit counseling group having four of their five biggest debt relief contractors, closed or out of business?

According to the latest information available from the State of Florida, CBDC officers are: – Source

  • Isaac Bobbe – President
  • Pablo Mendelson – Director
  • Ray Roberts – Vice-President

As part of my search I also discovered that Anthony Francisco, Isaac Bobbe, and Ray Roberts own a new company called Bred Winners. – Source. Isaac Bobbe also is the owner of Do It Yourself Debt, LLC. – Source

The stated mission of CBDC is “Educate and counsel the public about personal money management skills and help individuals reduce excessive debt burdens by negotiating with creditors on their behalf to lower interest and waive late fees.”

But credit counseling programs don’t actually negotiate with creditors. They instead pass on to the consumer the reduced terms, if any, that a creditor offers.

If you want, you can read the last 990 return here and then post your observations in the comments section below.

Consumer & Business Debt Counseling (CBDC). What is Going On? On the Radar.
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I can always use your help. If you have a tip or information you want to share, you can get it to me confidentially if you click here.

Consumer & Business Debt Counseling (CBDC). What is Going On? On the Radar. by

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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.
  • Steve Rhode

    Legal Helpers Debt Resolution has just been sued by the Attorney General of Illinois. You can read the suit here.

  • http://GetOutOfDebt.org Steve Rhode

    Legal Helpers Debt Resolution has just been sued by the Attorney General of Illinois. You can read the suit here.

  • Steve Rhode

    Ahhh, yes. More to come on this in the next 12 months.

  • debt police

    Steve,

    Don’t you find it odd that this same article could be written about Debtwave. They use the same contractors that have closed with poor reputations. These companies are doing the same things it seems like. What role do the attorneys play with these non-profit companies?

  • debt police

    Steve,

    Don’t you find it odd that this same article could be written about Debtwave. They use the same contractors that have closed with poor reputations. These companies are doing the same things it seems like. What role do the attorneys play with these non-profit companies?

    • http://GetOutOfDebt.org Steve Rhode

      Ahhh, yes. More to come on this in the next 12 months.

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