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Debt Settlement Related

Big Cheer for New Era Debt Solutions

I just discovered that New Era Debt Solutions has just updated their site with a new truth and transparency page. – Source I’m very impressed they have created a page to make it very clear for consumers and site visitors about their performance statistics and most importantly they have placed their client agreement online so everyone can read it. This ... Read More »

    Cambridge Credit Counseling Puts Out New Video on Debt Settlement Rules

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    Starting October 27, 2010 the Federal Trade Commission’s Telemarketing Sales Rule will prohibit for-profit debt settlement companies from charging fees to consumers until the company has preformed an actual service. The Telemarketing Sales Rule applies to debt settlement companies that solicit consumers by phone, and to settlement agencies that receive calls in response to ads. Consumers should be aware that ... Read More »

      “We Quit” in Debt Settlement and Making Your Finances More Friendly – The Get Out of Debt Guy Show

      Revelations in debt settlement tops today’s show. Alex Viecco from New Era Debt Solutions openly talks about his disgust with the current state of debt settlement and why his company boldly and publicly resigned in disgust from The Association of Settlement Companies (TASC). In this show Alex is followed by some exceptional good financial advice and insight on a consumer ... Read More »

        Superior Debt Relief Services Offers Some Strong Words Against Attorney Debt Settlement Model

        Superior Debt Relief Services has an article on their site, here, that speaks directly against those pursuing an attorney front debt settlement business model. Their words are probably strong than mine have been at times so I’ll let the following excerpts and warnings from their site speak for themselves. Enter- a ‘wolf in sheep’s clothing’ – the attorney-based debt settlement ... Read More »

          ABC 7 Runs Story on Big Crackdown on Debt Relief Companies

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          WXYZ just ran a story warning warning consumers to beware of debt settlement companies that charge fees. It was yet another public notification that things in the debt settlement world when it comes to fees are going to change on October 27, 2010. The more that message can get out there, the better. As more of this media coverage continues ... Read More »

            Debt Settlement Fee Ban, Credit Counseling Wounded, Caller Question – The Get Out of Debt Guy Show

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            Today we’ll be also talking about the impact the new fee ban for debt settlement services is going to have. We’ll also talk about changes that are impacting credit counseling and why people need to address their problem debt now before the economy improves too much. All that and a caller question on today’s show. Listen to Debt Settlement Fee ... Read More »

              Sorting Out Debt-Relief Promises

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              The Wall Street Journal just published a new article that talks about the debt relief world. Here is an excerpt and a link to the full article. The regulations, which extend the TSR rules to cover calls consumers make to firms in response to debt-relief ads, also will ban companies from misrepresenting what they can do. The most significant change ... Read More »

                Credit Card Debt Settlement Act of 2010 Makes It Easier to Eliminate Debt

                Credit Card Debt Settlement Act of 2010

                For those of us in the know about the debt relief world and industry you will have already recognized that the title to this article is pure fiction. But that doesn’t stop others from basically making stuff up to confuse consumers. According to the recent press release sent out by a website, “Thanks to new debt settlement and relief laws ... Read More »

                  My Son is in Prison and Interested in the Debt Settlement Commercials He Sees. – Carolina

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                  “Dear Steve, My son has a credit card balance of $17,000. He is in prison and we have been paying $300/month on his card. He has asked us to stop paying, and to find some other way to reduce the balance. He has seen commercials on TV of companies that do that. Should we just default on the balance? Should ... Read More »

                    Offshore Debt Settlement, Morgan Drexen, Badges, Elizabeth Warren, Bed Intruder, CROA, and More – Podcast

                    Here is this weeks podcast where Damon Day and I talk about a number of debt industry issues including: Debt settlement companies settling up offshore enterprises to sell services back to U.S. residents. The odd statements made in the recent Morgan Drexen press release. You can watch video from the release here. What is the Financial & International Independent News ... Read More »

                      The Debt Settlement Good Faith Estimate Guide for the Confused Consumer

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                      As of September 27, 2010, debt settlement and debt relief companies are going to have to provide data to consumers when enrolling new clients or when promoting results. These facts are are part of the “Good Faith Estimate” and will help consumers to select the company they wish to work with. The Federal Trade Commission says that they have determined ... Read More »

                        Nevaeh Solutions Didn’t Deliver Debt Settlement Service

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                        From WSOC TV in North Carolina. A man said he was a victim of a company that claimed it could help him settle about $15,000 of old debts. The man, who didn’t want to be identified, said he paid Nevaeh Solutions $400, most of which was upfront, after its owner said he could erase 32 old debts. The man said ... Read More »

                          Money America Radio Show With Steve Rhode, August 5, 2010

                          Yesterday I appeared as a guest on the Money America radio show that is heard in Massachusetts. Here is the broadcast and as you will hear it focused on recent changes in the rules from the Federal Trade Commission regarding debt settlement. You can listen to the show below. Money America Radio Show With Steve Rhode, August 5, 2010 Get ... Read More »

                            eBay Debt Settlement and Credit Repair for Less Than $1

                            eBay Debt Settlement

                            Does anyone believe this advertising copy or the fact you can get rid of 80% of your debt and have it removed from your credit report for $1? Ah but wait, the $0.99 item actually costs $4,000. A classic need for regulation. Click Image for Larger View. — Only pay 20% of your charge-off and collection accounts. We will go ... Read More »

                              Debt Settlement President Says My Debt Settlement Refund Process is Like Dropping a Nuclear Bomb

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                              Not that long ago I wrote an article about how to get a refund from a debt settlement program. I’ve already heard back from some readers that have used the process effectively but I wanted to ask a debt settlement company leader I know if he thought the process would be effective for consumers. I love this quote from his ... Read More »

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