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All About Consumer Recovery Network

Company Name

Consumer Recovery Network

Owners/Managers

Michael Bovee – CRN President

Physical Street Address

110 Main Suite A
Sandpoint, Idaho 83864

All About Consumer Recovery Network

Contact Information

800-939-8357
[email protected]

Website

consumerrecoverynetwork.com

Description of Services Provided

We provide detailed information to those struggling with debt. The comprehensive upfront debt and credit education is supplemented with ongoing information delivered throughout our subscribers experience, and further enhanced by the ability to work one on one with a professional debt and credit coach.

We provide training and support to the debt relief services industry. We are accessible to market participants who are committed to developing their brand and focused on the success of their clients through the delivery of comprehensive instruction on an as needed and ongoing basis.

Limited by the geographic location of our subscribers, we do provide some direct debt negotiation services to our active members.

What Makes Us Special

CRN is unique in the debt relief market place for many reasons. Here are some of the attributes that we believe place us in a special category:

Our education is designed to assist our members with making good debt relief decisions based on each members unique set of circumstances. Rather than “canned” and “one size fits all” solutions found throughout the market place for bankruptcy alternatives, our approach allows our members to be flexible and creative during their debt relief journey.

Through education and information we empower our members to be part of their own success. What this translates into is lower costs and more affordable solutions. When our members save money on professional fees they can better manage their cash flow and monthly budget; reduce the time it takes to get clear of problem debts; better manage and prepare for future credit goals; and in different instances achieve better and more meaningful results than can be achieved through third party intervention.

At the time of this writing CRN is the only company providing complete DIY debt settlement education with ongoing support combined with access to attorney directed full service negotiations and settlement where the fees are capped at 15% of savings and paid strictly on a contingency.

CRN provides a unique social network experience through its subscriber forum where our members can interact with and assist each other as they navigate their way through the debt relief process.

Our Philosophy in Assisting People

Do the right thing, at the right time, for the right reason, with the right people.

This is CRN’s basic philosophy and drives how we do business. It is reflected in how we provide honest, affordable, and effective tools to the public and the debt relief business community. This attitude is also reflected in the partners we have selected into our network of service providers.

Fee Schedule

At the time of this writing CRN charges:
$99.00 for the foundational education and first month membership.
Full Membership subscribers pay $50.00 per month thereafter.

CRN and its network partners charge fees for direct debt settlement services at the rate of 15% of the savings achieved on your behalf. These fees are not paid until the service is performed.

Other network partners provide direct services to CRN members for a fair rate and a discount where possible.

Client Satisfaction Policy

CRN basic education subscribers are guaranteed to receive value for the $99.00 enrollment costs or your money back. I would say no questions asked, but we will ask you to tell us where we fell short of your expectations so that we can improve ourselves for the benefit of all. You of course get the guarantee and a prompt return of your money whether you participate in the survey or not.

If you would like to be a featured debt relief company, just complete this form.

The information contained on this page was provided by the company itself as a way to introduce themselves to the public. It has not been independently verified.

Have you used this company and would love to share your opinion about them? Post your comment below.

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About Michael Bovee

Michael Bovee
  • Guest

    I think the key to focus on from the TSR commentary by the FTC is:
    “This limitation, however, should not be used to circumvent the rule by
    calling a service – in which the provider undertakes certain actions to
    provide assistance to the purchaser – a “product.” Nor can a provider
    evade the rule by including a “product,” such as educational material on
    how to manage debt, as part of the service it offers. The Commission
    further notes that deceptive or abusive practices in the telemarketing
    of products already are prohibited by the TSR and/or the FTC Act.
    Therefore, the Final Rule does not add the term “product” to the
    definition of “debt relief services.”

    CRN is providing a debt relief service; not a “product”.  We’ll see what the FTC’s opinion is when they come knocking. CONSUMERS- STAY AWAY FROM COMPANIES LIKE THIS THAT CHARGE ADVANCE FEES- whether they charge it for an “educational service” or otherwise.   In my mind, this is no different than the loopholers trying to use attorney models to charge advance fees.

    • http://GetOutOfDebt.org Steve Rhode

      I see this from maybe a different point of view. Sure, there were attempts to run around the TSR by some companies by selling iPads loaded with ebooks for $2000 or selling some other product or device to then offer their debt settlement service. But this approach by CRN appears to be unique in that their primary product is DIY education and people who purchase that $99 educational material are under no further obligation if they don’t want to continue.

      As a second part of the service, again as I see it and correct me if I’m wrong, it appears they offer a hands-on solution to assist their members with the settlement of their debt for no advanced fee and only 15% of savings.

      There is no requirement for anyone to use the hands-on part of the service.

      In my travels through the industry, this primary DIY educational approach is unique, well maybe besides zipdebt.com, but the issue here might be that they are extremely different and that’s creating some consternation.

      But feel free to continue questioning. It’s a great discussion to have.

    • http://www.consumerrecoverynetwork.com/ Michael

      Hi Guest,

      CRN is very different than the “loopholers” that you refer to. Our methods for helping consumers are different from the rest of the industry all together. Including those companies who remain and offer full service debt settlement while still charging the high fees known to be a detriment to the already struggling consumer. High fees charged up front through perceived loop holes, or charged after the fact are THE problem.

      My first response to Jim above contains more detail to the following point:

      CRN offers a product. It is not new, or a new concept. We have been doing this since 2006 – all while most of the industry ran rough shod over those they sold hope to. The historical effectiveness and success of this product is clearly laid out above.

      As I have stated, I am very familiar with the amendments to the TSR. I participated in the 2 year rule making process. My written and oral comments as a panelist are cited over 30 times in the final 229 page rule.

      CRN is not offering an affordable and effective product for consumers to avoid high professional fees just so we can later provide a full service. To say otherwise would be absurd when compared to our pricing, messaging and known efficacy.

      I have provided the CRN educational materials to a host of federal and state regulators, and consumer groups over the years. I have never been informed of anything objectionable.

      I am happy to have these discussions. But, those encouraging consumers to run away from legitimate, fair, affordable and proven effective tools (and services when requested or needed), and instead run into the waiting arms of companies charging 30 to 40% of savings, is harmful.

      I, nor anyone else, can gauge the frame of reference of those commenting anonymously about the CRN model outlined in the article above. Some of the comments read by consumers may come off as authoritative, but certainly are not. Statements like “We’ll see what the FTC’s opinion is when they come knocking” are hyperbolic.

      Our business model is no secret. It never has been. I have built considerable awareness of what we do and how we do it for many years.

      The comments I am responding to in this thread relate to the TSR. The passage of which was critical to debt settlement companies and had wide ranging impacts. At this time, the debt relief industry as a whole, is at another critical moment. The CFPB will soon publish a proposed definition for “larger participants” found in the non bank sector. Myself, and many others involved in debt relief, have met with the CFPB. It is widely anticipated that this definition will bring debt settlement service providers, escrow service providers, nonprofit credit counseling agencies, and others involved in debt relief, within CFPB purview and subject to registration and enforcement.

      There have been changes in the debt relief space. CRN has, and continues to play by the rules. More changes are coming. CRN will adjust when and as needed in order to continue to help consumers.

  • Restorm123

    guys you will never win this battle … this site promotes certain companies and it is a great backdoor marketing tool.  Certain people can use “loopholes” and it is okay and others are a scam.  Upfront fees are bad and yet some made their entire living off it. Etc etc the debt relief world where there were vultures all over is done so it is not that big a topic anymore.  This is clearly shown by the trend of stories on the site and it trying to transition to main stream rather than bashing the debt settlement world.   The best thing about the whole site is a company that is supported on the site is advertising an APR of 6.78% then an add that states returns of  9.6% that is interesting math. Just like you want to have the ability to say what you want this site can do what it wants to do. But this is a marketing tool just see it for what it is. 

    • http://www.consumerrecoverynetwork.com/ Michael

      Hi Restroom,

      I am compelled to post a reply to your comment as the theme of this page seems to be challenges directed at CRN and its business model and your comments could be read to infer more of the same.

      I contribute to this site in the form of comment replies, mostly in response to consumers asking for help and feedback. I am a member of the forum as well. I do not respond to market. I do contribute articles. The one above I submitted to raise awareness of some of the beneficial enhancements CRN made recently. It was submitted in the same way that is available to every company on this site to use. It is the “Debt Relief Company of the Day” feature.

      CRN does not use loopholes. If we did it would not be okay. Those participating on this thread and referring to loopholes and CRN in the same breath may not understand what and why they are using the term – in as much as they are convinced they are right in doing so.

      I believe the debt settlement industry is cleaning up just as you do. It has a ways to go still. The bottom line is that many people do need effective and fairly priced tools and assistance to deal with debt problems. CRN provides that.

    • http://GetOutOfDebt.org Steve Rhode

      Just a quick reply to some assumptions.

      1. There have been less stories about bad practices because the number of consumer submitted questions about such issues dropped dramatically following the TSR implementation.

      I’ve also had an open request for debt relief companies to submit good news stories.

      2. Any debt relief company has the same opportunity to be a featured company as CRN was. They just elected to fill out the form. Please see Get Your Debt Relief Company Featured for Free on the GetOutOfDebt.org Site. If you run a debt relief company and would like to be featured, please feel free to submit your information as well.

      3. I believe the ads you are referring to are the ones for LendingClub.com. The ads are correct. Unsecured loans are available for as little as 6.78% and the average investor return is said to be 9.6%. As an investor my return is actually 9.3%. I recently covered my experience as an investor, here.

      Investor return would be based on the type of loans they elected to invest in, which might be higher interest rate loans. LendingClub.com is very open about their statistics and you can view all loan and investor measurements here. Both LendingClub.com and Prosper.com are a good resource for unsecured debt consolidation loans. LendingClub reports 67.38% of their loans are used for debt consolidation.

      4. I’m not clear what companies you are referring to when you say “this site promotes certain companies.” Do you have a specific example so I can better understand what you mean? If your are referring to CRN, that is not a fair statement. CRN has contributed guest posts to the site but every company has that same opportunity. Michael has commented on many posts, but again that opportunity is open to all, and I’ve already covered how every company is eligible to be featured.

      Steve

  • dannymoore12345

    Do you act as a Debt Settlement company or as a Debt Management company?  I would imagine to charge those fees before a settlement you would need to be licensed as a debt management company?  But 15% of savings sounds like a Debt settlement company.  I am confused.

    So if I have $10,000 in debt, and say 3 year program, you are going to charge me $1800 in $50 monthly fees or 18%?  Then 15% of savings which very well can be 9% …. so 27%.  Wait forgot about the $100, so 28%? 

    I was in the debt industry, but not anymore so looking at it from both a consumer and an ex-industry participant.  We like you charged up front fees, but maxed out at 15%.  What am I missing?

    • http://www.consumerrecoverynetwork.com/ Michael

      Hi Danny,

      CRN is first and foremost an education provider. Settlement services have
      been available secondary to that.

      I cannot remember the last 10k file we accepted.

      CRN has, up until last week, given a full credit of education program costs as
      a full offest to any later earned contingent fees, were they to occur. Members
      would pay an education program minimum or the maximum of 15% of savings after accounts are settled and funded.

      Some of these attributes to our program are now changed.

      CRN is not nonprofit. We do embody a consumer-centric one in actions, but not
      tax designation.

  • Jimlasarski1991

    sounds to me like one of those sham company’s the FTC is warning about … I would stick with a company that offers only to charge you as you settle your debt. 

    • http://northeast-properties.com Andy Faria

      Jim, CRN is not a sham company… not even close. CRN charges a small fee for their course, and the course is well worth it. The course promotes, encourages and empowers the consumer to settle their debt on their own through extensive coaching… and in doing so, the consumer avoids additional settlement fees to a 3rd party altogether.

      They also offer to step in and assist their clients with settlements when the need arises. They do this using a performance based fee structure. From what I understand their fee for this is 15% of the savings. I can’t say for sure but I doubt that you will find a single provider in the country that can beat that price.

      • Asdf jkl;

        ANY ADVANCED FEE (even a small, small amount) for debt relief services (as defined in the TSR) is ILLEGAL.  CRN’s program may absolutely be the best thing since sliced bread, but, if they charge ANY ADVANCED FEES, then IT IS ILLEGAL.

        WHY is it so hard for people to understand this very simple fact!

        To any consumers looking for debt relief services:  If the company from whom you are seeking help (whether it’s DIY or full service) asks for even a single penny in advance fees, then RUN AWAY.  This is an ILLEGAL practice.  Anyone who argues otherwise is intellectually (and morally) bankrupt.

      • Charles

        So if we apply this “logic” to, say, Dave Ramsay, then clearly he should be shut down tomorrow by the FTC, right? After all, he charges “up front” for his training course on DIY debt relief! Shocking! :-)

      • http://www.consumerrecoverynetwork.com/ Michael

        Hi Asdf jkl,

        I am very familiar with the amended TSR’s you speak to so  vociferously. I participated in the FTC rule making process through comments and as an invited panelist.

        CRN offers an educational product. We always have. We do so in full observance. CRN has provided a direct debt settlement service charging only after results are delivered and at the most affordable fee available. We always have. In full observance.

        We feel the program is the best available, though I am not sure if we would hold up to sliced bread.

        I understand the very simple fact you are trying to make, but I am not sure you do. I certainly don’t think consumers do.

        CRN offers an educational product. An extremely effective one. We have offered a direct service – equally effective.

        I encourage consumers to research and become fully informed about all of their options and to speak with multiple service providers. If you would like, subscribe as a CRN member and review the education. You will learn more about your debt options and what path to choose than virtually any where else you could go. You will know more about debt settlement and the process from start to finish than most of the people selling debt settlement services.

        If you don’t find value, get a refund. That simple. No risk, you will learn a ton, and be better prepared to face your financial challenges moving forward.

        CRN does not operate an illegal practice.

        As far as intellectually and morally bankrupt – please read my above reply to Jim. CRN operates one way, while most of the industry operates a different way. I feel the high fees charged to struggling consumers, all the while knowing the fees (upfront or later on), impede a persons ability to be successful, to be problematic intellectually, and a touch morally.

        Please further consider that settlement companies impede your communicating directly with your creditors where, in some instances, creditors offer you balance reduction figures better than can be achieved by a service provider.

        Additionally, consider that some banks wont work with settlement companies directly, but they work with their card members. Settlement companies wait for that account to charge off before attempting settlement and generally wont tell you that the opportunity to settle existed prior to charge off. The result to the consumer when this occurs is that the settlement may be higher when placed with an assignee, purchaser or attorney (higher costs), and often you could have avoided an R-9.

      • http://northeast-properties.com Andy Faria

        Let’s see what is actually defined in the TSR….

        here’s the link:
        http://www.ftc.gov/os/2010/07/R411001finalrule.pdf

        3. Coverage of ProductsSome commenters recommended that the Commission add the term “products” to the term “debt relief services” to ensure that providers cannot evade the Rule by selling books, CDs, or othertangible materials promising debt relief, or by including such products as part of the service. Another commenter disagreed, stating that products should be excluded from the definition. Thiscommenter noted that a consumer who purchases a product (e.g., a book) intended to help relieve debt is himself responsible for taking the steps stated therein; in contrast, an individual who purchases a service is paying the seller to provide that service.

        The Commission declines to modify the Rule to include products in the definition of debt relief services. The Rule is targeted at practices that take place in the provision of services, and the record does not indicate that deceptive or abusive practices in the sale of products, such as books or other goods containing information or advice, are common. This limitation, however, should not be used to circumvent the rule by calling a service – in which the provider undertakes certain actions to provide assistance to the purchaser – a “product.” Nor can a provider evade the rule by including a “product,” such as educational material on how to manage debt, as part of the service it offers. The Commission further notes that deceptive or abusive practices in the telemarketing of products already are prohibited by the TSR and/or the FTC Act. Therefore, the Final Rule does not add the term “product” to the definition of “debt relief services.” pg 36-37

        As I read it, the only question that remains is, “is CRN using their educational product to circumvent the rule by calling a service a product?” …. I don’t believe so. CRN is an education-first company. They provide a solid educational product at a reasonable price. Yes, if down the road a consumer finds that they need assistance with one of their debts, they will assist with that, and charge a TSR compliant fee.  

        This is not the same as a provider enrolling a consumer’s entire debt load, and then sending them a “required” book and charging them $5k for it. That is what the TSR aims to protect consumers from, not an educational product like this. . 

        MY NOTE TO CONSUMERS: I don’t make penny one by promoting CRN and I have absolutely nothing to gain by standing up for their product. I simply believe in it and that’s that. In a landscape of predators and loop-holers CRN stands out from the pack. I would send my 80 yr old grandmother to them with complete confidence that she would be treated with the respect she deserves.

      • http://GetOutOfDebt.org Steve Rhode

        I’d like to explore your point a bit more. Where does it say in the TSR that an fee for an educational DIY product is a violation. It would be helpful if you could direct me to the specific section so we can be on the same page to discuss this.

        The TSR does say “It’s illegal to charge upfront fees. You can’t collect any fees from a customer before you have settled or otherwise resolved the consumer’s debts.” But that does not seem to apply to a DIY educational product or coaching.

        If you’d like, we can use this description of the TSR as a reference.

        According to the full rule:

        “The Commission declines to modify the Rule to include products in the definition of debt relief services. The Rule is targeted at practices that take place in the provision of services, and the record does not indicate that deceptive or abusive practices in the sale of products, such as books or other goods containing information or advice, are common.

        This limitation, however, should not be used to circumvent the rule by calling a service – in which the provider undertakes certain actions to provide assistance to the purchaser – a “product.” Nor can a provider evade the rule by including a “product,” such as educational material on how to manage debt, as part of the service it offers. The Commission further notes that deceptive or abusive practices in the telemarketing of products already are prohibited by the TSR and/or the FTC Act. Therefore, the Final Rule does not add the term “product” to the definition of “debt relief services.” – Source

      • Derek

        So the FTC allows “small” upfront fees now?  Sounds like one of those “Loop-hole” company’s … chance they will be shut down in the middle of your program.  RUN!

      • http://www.consumerrecoverynetwork.com/ Michael

        Hi Derek,

        CRN does not charge upfront fees for a direct service.
        CRN does not operate with any loophole or other strategy to circumvent rules. To the contrary, we have been providing our members a direct debt settlement service free of any fee in observance of many different rules that exist while other companies have ignored and continue to ignore those same rules.

        I am a frequent contributor to this site. I am glad one of my articles is getting some comment participation. Please search for my other many articles on this site and add comments where you can.

    • http://www.consumerrecoverynetwork.com/ Michael

      Hi Jim,

      CRN is the furthest thing from a sham company. We have a great reputation; An A rating with the BBB; the respect of people who care about consumer issues; many happy customers; and a business model for helping debt stressed consumers unlike any other in the industry.

      Your comment appears to be something of a drive by post made with little grasp of how companies in the debt settlement industry operate. Regardless of your frame of reference, I do want to thank you for opportunity to draw some clear distinctions about CRN. What follows is as much to respond to your poor assumption as it is to benefit future readers of this web page.

      CRN has offered consumer education and direct debt settlement services since 2006. Our education, and ongoing support that accompanies it, is designed to allow our customers to settle debts on their own so we don’t have to charge for doing it. Our members are quite successful. From 2006 through 2009 more than half of the accounts were settled by members themselves. For 2010 through 2011 about 74% of settlements were done by our members. I point this out to show that what we do works the way we intended and is not some new concept launched to charge fees in advance of performing a direct service.

      Some accounts are tougher for individuals to settle, so we jump in. Also, early on we found that some people just cannot or will not take advantage of all the information and support we provide and would prefer a professional handle the negotiations. No matter the reason, we have been available to our members to provide full service work. Our fee for that work has always been performance based and set at 15% of savings. It’s the lowest fee in the industry then and now. We often were paid those 15% of savings fees over time on a payment arrangement with our members that only commenced after the accounts settled are paid off. Our customer comes first, next the creditor, we bat third. Also, CRN has provided our direct debt settlement services to our members, who are residents in what now stands at the majority of states, for FREE. No 15% of savings. Instead, we calculate the fee and suggest our member donate it to low income legal aid offices or to local food banks in the form of non perishable food items.

      Does any of this sound like the actions of a sham company?

      To the contrary, CRN is the “anti-sham” of the debt settlement industry.

      I submitted the above article as a method of spreading the word about recent model enhancements CRN has made. We have dramatically reduced the
      upfront education and initial enrollment costs for our members. We have built a
      network of fair and affordable service providers that complement the philosophy
      and mission of CRN. We have launched a new delivery system for our methods when assisting consumers. We now offer our systems and training to other companies as well.

      Settlement companies charged abusive advance fees.
      Regardless of changes to laws, many continue to charge fees in advance of completed services through perceived loopholes, often involving attorneys. CRN put together a model to counteract the damage being done to consumers by those who continue to circumvent rules enacted to curb abuse.

      The vast majority of companies offering to settle debts for debt burdened consumers today are charging 15 to 20% of the balances enrolled in the program, or charging 30 to 40% of the savings they obtain. High fees mean programs take longer; which leads to more risks; and less success. High
      fees for services that can be performed on ones own, while obtaining equal or
      better results, are the problem in the industry. It’s a problem for consumers
      whether fees are charged up front, or after settlement is achieved.

      CRN offers our members the information and tools they need to settle debts. We offer an education product. It is 6 years time tested and proven. CRN now offers consumers the details they need to fully understand and implement a settlement plan for $99.00 with an unconditional guarantee; provide unlimited supplemental information and support that enhances success rates; while offering access to full service at half or less the cost of the industry norm.

      Anyone interested in learning more can reach us through our website: http://www.consumerrecoverynetwork.com

  • Guest

    how is this not advance fees?

    • Michael

      Hi Guest,

      Are you referring to “advance fees” as relates to the amended Telemarketing Sales Rules that went into effect in 2010?

      Also, are you asking from a consumers perspective, or from an industry participant perspective?

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