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Debt Restructuring Hitting the Skids and Headed Towards Dumpster of Failure

A recent email forwarded to me from a reader reminded me about the debt restructuring approach I wrote about a while back. Apparently it was going to be the saving program for all the old mortgage selling, loan mod pushing marketers to sell after advanced fee debt settlement hit the TSR wall.

Feel free to catch up on this ‘manna from heaven” program that was pitched to save debt relief companies. Read Consumer Debt Restructuring 101: What It is and Why You Should Avoid It.

Now word on the street is that the program is a failure, people are not getting their debts purchased, and there is little participation. Not shocked.

Debt Restructuring Hitting the Skids and Headed Towards Dumpster of FailureThe email being sent out comes from “Dr. Gregg Wright” who claims to be the Educational Strategist at Cyrus Global LLC Technology Division but he also says he is the National Affiliate Director. Doesn’t that seem like a conflict of titles? Who are we educating, affiliates?

At the same time he says he is the Director of Education at Franklin Debt Relief and the director of Gregg R. Wright & Associates where:

“Over the last 11 years I have enrolled over 6650 clients with $211,000,000.00 of debt and maintained the highest retention rate of any Representative in every company I marketed for: I have a full time partner who has worked with me for over 10 years.His expertise lies in computer programming, and appointment scheduling so my time in sales in maximized by pre-set, pre-qualified, appointments. Debt Settlement/Restructuring/Consolidation/Credit Services.” – Source

He also claims to have held the following positions in the past: Debt Settlement Specialist at Freedom Debt Relief, Certified Credit Analyst at LAWGISTIX Attorney Debt Settlement Network, Director Debt Settlement Education & Enrollment at The Debt Freedom Institute.

Dr. Wright also claims that people who jump on board to sell Debt Restructuring for Cyrus Global will also have access to sell:

* Bankruptcy
* Credit Clean-up
* Credit Restoration
* Small Business Cash Advance Service
* Network Affiliate services will soon be expanded to offer :
* Auto Loan Re-modification,
* Tax Settlement Services,
* 2nd Mortgage Loan Re-modification, and more!

What in the world is auto loan re-modification? Did it not get modified the first time so it had to be re-modified?

So the email going out says:

Debt Restructuring Hitting the Skids and Headed Towards Dumpster of FailureDebt Restructuring Hitting the Skids and Headed Towards Dumpster of Failure

Anyone want to figure out why Dr. Gregg is using the FDIC logo in his recruiting email?

Here was my thought after reading the email that was forwarded to me, if debt restructuring is going like hot cakes, why does the affiliate director need to comb his “hundreds and hundreds of inquirers” to find out who is still interested. Seems a bit desperate to me. Apparently the decks are not flooded with serious people signing up to be Cyrus Global affiliates.

Anyone else read that differently?

Debt Restructuring Hitting the Skids and Headed Towards Dumpster of Failure
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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.

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