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Debt Settlement Related

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 »

Question for You About a Sex Offender and Debt Settlement Company

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I just got a credible tip about a convicted sex offender that is in upper management of a debt settlement company. My question to you is, is it news I should report if I can confirm it, which I can. Or should I disregard it. I’ve never faced this situation before. The person was convicted of: 800.04 Lewdly Fondle Or ... Read More »

CONSUMER ALERT – Do Not Enroll in Any Debt Settlement Program Before October 27, 2010 That Charges a Fee Before Debt is Settled

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The new Federal Trade Commission rules have now been released that will regulate how fees can be charged in debt settlement programs. Any consumer that is thinking of enrolling in any debt settlement program before the new rules take effect on October 27, 2010 needs to be aware, after that date a debt settlement company can not charge you a ... Read More »

How Do You Value Your Quality of Life? Debt Solutions to Fix The Future

Photo Credit: Cayusa

Debt doesn’t just affect the people actually in debt, it often affects the ones around them, near and dear to them. I know this from first hand experience as someone who has loved and lived with someone so deep in debt they could not see a way out. Not only is the emotional toll hard on the debtor but also ... Read More »

Det Ettlement – Taking the B.S. Out of Debt Settlement (Funny Video)

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Here is a video that Amanda Miller from the site put together for her first video assignment. She wanted to share what debt settlement sales people should tell you in a funny and honest way. Let us know what you think of the video in the comments below and if we should do more. Comment, comment, comment below, please. Get ... Read More »

FreeDebtSettlementAdvice.com Appears to Misinform Consumers to Sell Debt Settlement Services

FreeDebtSettlementAdvice.com today distributed a press release title “Why Bankruptcy Should Always Be The Last Option For Debt Relief” that appears, in my opinion, to sell consumers into debt settlement services through blatant misinformation. Disgusting. Obviously from the title the intent of the release is to try to encourage people away from bankruptcy. But here is what the release says: Bankruptcy ... Read More »

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