CBDC allegedly said the reason they could not immediately continue to service consumers was because of the suspension of the Florida attorney, Clint Johnson, that had been supervising the trust fund accounts. But Johnson was also responsible for the trust fund for DebtWave clients.
More information about this relationship can be found in Clint Johnson Suspended by Bar. Receiver Appointed. Impacts, Johnson Law Group, Debtwave, CBDC.
The excuse CBDC offered for dropping consumers was:
The damage done by the Johnson Law Group and the competition they have created has been too great for CBDC to sustain a functional business that could properly assist our clients in a way they deserve.
Then if Johnson was also managing the trust fund accounts for DebtWave, clients of DebtWave should be concerned this failure of the credit counseling group is headed their way.DebtWave Clients at Risk from CBDC Failure? by Steve Rhode