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“Debt Adjustment” – Meanest Racket Out

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“Debt Adjustment” – Meanest Racket Out by Murray Bloom “Get out of debt.” “Restore your credit without a loan.” “We can help you even if you’ve been turned down by everyone else. ” In the past two years these and similar slogans have lured thousands of desperate Americans and Canadians into one of the meanest schemes ever devised. Cleverly disguised ... Read More »

I Just Invested in 34 Debt Consolidation Loans. Do You Know Anybody That Needs One?

Lending Club June 2010

I’ve talked a lot about LendingClub.com and I just logged on this month and helped to fund 34 new loan requests. As of right now, 61.45% of all loan requests are for debt consolidation loans and LendingClub.com has issues $138 Million in loans. It is the one resource I know where you can get below market rates for unsecured debt ... Read More »

Bogus ‘Obama Mom’ Grants Lure Students

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by Sharona Coutts ProPublica, July 23, 10:34 a.m. July 26: This story has been corrected. Listen to Marketplace’s version of this story. After being laid off from her job as a high school teacher in Dayton, Ohio, Nicole Massey decided to go back to college. For months, she scoured the Web for ways to fund her tuition, while supporting her ... Read More »

“Consumers Assume the Commercial They Are Calling Into is Your Company”

Just when you thought marketing debt relief services could not be more misleading, I read the press release of Spotlight Media and went to the site they mentioned, TVLoanModificationLeads.com. – Source The press release brags about selling debt settlement, auto loan modification, and mortgage modification leads. But what caught my eye was the release says “If you are a reputable ... Read More »

The Debt Collection Industry From The Eyes of Former Debt Collectors

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CNNMoney.com released a fascinating showcase of the life behind closed doors of debt collectors. They took ten different collectors ranging in 2 – 20 years of service in the field of debt collecting and asked their insight and thoughts on the debt collection industry and process of today. The interviews were very nicely balanced between collectors that either enjoyed their ... Read More »

What the Dodd-Frank Act: What It Means for Credit and Housing Counseling Agencies and Other Debt Relief Service Providers

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The following article was put out by the Venable law firm and is republished with permission of Jeff Tenenbaum, a rock star in debt relief compliance issues. Get Out of Debt Guy – Twitter, G+, Facebook President Obama ushered in a new era of regulation over credit counseling, housing counseling, and other debt relief services that will have a broad ... 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 »

Consumer Credit Counseling Service Disturbed With GHS Solutions Marketing of Debt Settlement

From the news story: Jennifer Wallis works at Consumer Credit Counseling Service of Central Oklahoma, and she’s always on the lookout for consumer scams. “That’s the problem I have, is tricking people into a program that’s going to damage their credit,” Wallis said. That’s exactly what Jennifer said a letter her client received is trying to do. It claims that ... Read More »

Roni Deutch Tax Centers Now Selling Debt Settlement Services

According to a recent statement from the Roni Deutch Tax Center, one of the Franchise Times top fastest growing franchise companies, they are now into selling debt settlement services. The press release says: In addition to their exceptional tax preparation services, Roni Deutch Tax Center locations have attracted entrepreneurs because they boast a number of additional year-round services including debt ... Read More »

Debt Settlement and Loan Modification Mailers and Then Halo Mac and American Debt Relief

Thanks to a tipster (send in your tips here) I wanted to show you some examples of debt settlement mailers that in my opinion appear designed to confuse of make recipients believe they come from some official or government resource. These mailers came from Budget Mailing Services at budgetmailingservices.com. – Source I’ll post examples of the mailers they have available, ... Read More »

Websites Get FTC Warning on Marketing Free Credit Reports

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FTC Warns Websites That Offer ‘Free’ Credit Reports: Disclose Federally Mandated Free Reports or Face Prosecution The Federal Trade Commission is warning 18 Internet websites offering free credit reports that they must clearly disclose that a free report is available under federal law. The FTC’s recently amended Free Credit Reports Rule, which took effect April 2, 2010, requires certain disclosures ... Read More »

Finally, More Action Against Timeshare Resale Companies That Screw Desperate Consumers

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Attorney General Bill McCollum today announced that his office has filed lawsuits against three Florida companies, alleging the companies and their owners used deceptive and unfair practices that enticed consumers to spend hundreds of dollars to advertise their timeshares for resale with the companies. All three lawsuits are seeking restitution for affected consumers as well as court orders prohibiting the ... Read More »

A Good Credit Score Can Save Me How Much Money? – Infographic

A Good Credit Score [Infographic]

Often times when dealing with a financial problem it is not possible to keep your credit score in top notch condition. But after the crisis passes, striving for a good credit score is a good thing to do, even if you don’t plan to go deep in debt ever again. Here is a great infographic that explains why. Especially nice ... Read More »

The Debt Settlement Attorney Model Podcast

This week the podcast with Damon Day focused primarily on the attorney model in debt settlement and the problems associated with that. Here are some of the articles that relate to issues we talked about in the podcast. The Critical Flaw in The Attorney Model for Debt Settlement Mosler Law Firm and SFC State Capital Financial Kicked Out of Vermont ... Read More »

FTC Catches Bad Press For Doing Job Over Nestlé Milk

The Christian Science Monitor posted an article, “Does the FTC really protect consumers?” straight from Mises Economics Blog. The article claimed that the FTC was putting protecting consumers from fraud on the back burner and appeared to be more concerned with “expanding the federal government’s monopoly over food-and-drug-related speech”. This bold statement was made over Nestlé’s own Boost brand of ... Read More »

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