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Credit Counseling Industry

AmeriFree Says I Got It All Wrong

happy woman in wheelchair outdoors beach showing victory sign

In a recent article “Why Isn’t AmeriFree Licensed in Their Own State?” a reader asked why AmeriFree did not appear to be registered to offer debt relief services in Arizona. As I said in the article, I had previously reached out to AmeriFree for a statement or response and heard nothing. Well today I have. A John Corey said, “AmeriFree ... Read More »

Why Did First Stone Credit Counseling Pay Commissions?

family portrait

A reader wanted to know why the public returns for First Stone Credit Counseling listed commissions as an expense since nonprofit credit counselors are not allowed to pay commissions under 501(q). – Source A visit to their site at firststone.com found a curious title to their site. It seems their primary focus is not credit counseling in the title but ... Read More »

Credit Counseling Agencies Need Credit Counseling Help

stressed man

Richard Burnett of the Orlando Sentinel recently wrote an interesting piece about the realities of modern non-profit credit counseling and how they need help. With demand dropping, existing credit counseling agencies are scrambling to find new avenues of income. Credit counseling agencies are turning to trying to sell student loan assistance and one agency reports having a pilot program to ... Read More »

Advantage Credit Counseling Service Makes Perplexing Statement

puzzled looking little boy looking to the left

Advantage Credit Counseling Service has a “white paper” out that purports to reveal what a certified credit counseling agency can do for you. Credit counselors have good programs that are best suited to people who are behind on their bills but can afford at least the regular monthly payment plus continue to save both for retirement and emergencies. What struck ... Read More »

FTC Nails American Mortgage Consulting Group and The Debt School

Bitch Slap

The defendants in two separate alleged scams have settled charges with the Federal Trade Commission and will be banned from providing mortgage- and debt-relief services. The cases are part of the FTC’s continuing crackdown on scams targeting consumers in financial distress, including debt relief and credit repair scams, and mortgage relief scams. American Mortgage Consulting Group; Home Guardian Management Solutions: ... Read More »

CRL Report Results in Silence From the Debt Relief Industry

Lowering Coffin

The other day I published the debt settlement recommendation report from The Center for Responsible Lending (CRL), click here. As vocal as critics have been in attacking this site and myself for being outspoken about consumer unfriendly debt relief practices I felt certain people would have comments to offer about the CRL recommendations. But silence, except for one commenter. Some ... Read More »

Credit Counseling Services and the Bankruptcy Conundrum

SONY DSC

A press release out by Advantage Credit Counseling Service drew me to their site today. – Source. While there I came across a good example of the ethical conundrum facing nonprofit credit counselors today. Advance Credit Counseling Service is not alone in dealing with this problem. According to the Advantage Credit Counseling Service website they are a proud member of ... Read More »

Student Loan Alliance Teaches Credit Counselors What About Student Loans?

don't believe

Student Loan Alliance put out a press release earlier this week talking about the training they were giving credit counseling agencies in order to deal with student loan problems. Student Loan Alliance says the credit counseling agencies that participate in their approach and training are The participating organizations are: Consumer Credit Counseling Service of Greater Dallas, Consumer Credit Counseling Service ... Read More »

Debt Consolidation USA Says Avoid Credit Counseling

bad decisions

A nonsensical press release just out by Debt Consolidation USA warning consumers about credit counseling seems odd to say the least. Let’s go with the assumption the reason for this release was just to try and score some SEO points or something like that. The release refers to an article on their website titled “Reasons to Avoid Credit Counseling.” – ... Read More »

Sanctuary Belize, Andris Pukke, Todd Cook, Peter Baker & Ameridebt

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Please see updates on July 15, 2013 and July 23, 2013 to this article at bottom. Recently tips and information has been trickling in regarding an old debt relief industry name I had not heard for awhile, Andris Pukke. Pukke was nailed by the FTC for his operation of Ameridebt and even did some jail time for it. You can ... Read More »

The Role Credit Counseling Plays in Debt Relief

Decision time

The following is a guest post. And while I personally might not agree with some of the points of view, I think it is important for people to hear from different sides. Given what I think is going to be an exploding retirement crisis I am now more convinced that for those near or over 50 with little to no ... Read More »

Nonprofit Mpowered Appears to Mislead Consumers

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A Facebook friend brought Mpowered to my attention and asked me about them. Mpowered was formerly Community Credit Counseling Services and is located in Colorado. The person wanted to know what I thought of their program. Since I have no personal knowledge about the solutions they offer I had to go to their website and rely on what they have ... Read More »

NFCC Press Release Seems to Misrepresent Truth About Credit Counseling. But Why?

questions

The National Foundation for Credit Counseling sent out a press release today claiming their survey uncovered public misconceptions about credit counseling agencies. The press release listed five areas the NFCC felt consumers struggled with in knowing the truth about credit counseling. But some of the points the NFCC felt they needed to clarify appear to actually misrepresent the truth to ... Read More »

Consumer Credit Counseling Pros and Cons. My Ultimate Guide to Understanding How Credit Counseling Really Works.

hiding

Consumer credit counseling is one of the options people turn to when dealing with debt issues so let’s take an honest look at the pros and cons of the program and what it has to offer. Consumer credit counseling in one form or another has been around as debt proraters, debt lumpers, or debt consolidators since the late 1930s. But ... Read More »

The Hidden Real Cost of Credit Counseling and Debt Settlement

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With a more uncertain future for those headed towards retirement it makes logical sense that we need to make preparing for our own retirement a priority in our lives. All indications are there will be less financial help available for us when we do eventually retire and that will most likely be later than most expect. So considering the importance ... Read More »

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