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Debt-Settlement Fraud Rising with Lack of Regulation Says Washington Post

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Baltimore resident Gloria Snowden thought she had found a way out from under her $10,000 credit card bill when she signed up with a company that promised to negotiate with creditors to settle the debt for less than she owed. It was 2003 and the nascent debt-settlement industry was just taking off. Traditional credit counseling and consolidation organizations devise payment ... Read More »

Crazy James the Debt Buster Hunting for Scumbags

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More debt videos from people that should never have published them. [flashvideo file=/wp-content/uploads/crazyjames.flv /] This video scared me at first. Boo! But you’ve got to watch the whole thing it’s way too funny. Bonus Odd Movie Prevent yourself from spending. Tape your credit card to the bottom of the toilet with “Mexican solder.” Odd. Very odd. Get Out of Debt ... Read More »

Up-Front Fee Debt Negotiation Program, Credit First Financial Solutions – BANNED BY FTC

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The telemarketing business will be permanently off limits to a deceptive pitchman whom the Federal Trade Commission sued last year for allegedly tricking consumers into paying hundreds of dollars for a credit card that could only be used to buy merchandise from his companies’ Web sites. Under a settlement order with the FTC, pitchman James Nicholson and a group of ... Read More »

DebtGoal is Way Too Expensive to Justify. Walk on By.

How DebtGoal Works

A press release about this company DebtGoal crossed my desk today. DebtGoal is actually GoalSpring Financial, Inc. Anyway here is the press release about this service that I think is way too expensive. “SAN FRANCISCO, March 25 /PRNewswire/ — DebtGoal (www.debtgoal.com), the leader in online do-it-yourself debt management, today announced the appointment of two personal finance experts to the company’s ... Read More »

Ten Debt Relief Videos That Should Have Never Been Made Public

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Here are ten videos that were put online in hopes of promoting or selling some sort of debt relief services. These people should have thought twice before they put these up. Get Out of Debt Guy – Twitter, G+, Facebook The Debt Terrorist MLM Debt Settlement and Credit Restoration Disturbing eBay Auction to Start Your Own Credit Repair Business How ... Read More »

Prince of Darkness Charged in Real Estate Scam

the Dark Prince

Photo: Annia316 A Nepalese con-man known as “the Dark Prince” managed to fraudulently obtain ownership of some luxury condos in San Francisco and then took out $2.2 million in an equity loan against the properties. Besides “the Dark Prince” Kaushal Niroula, 29, a former tennis instructor Winston Lum, was arrested along with Jay Shah and Melvin Emerich. Niroula and four ... Read More »

Debt Settlement Company Robo Calls BBB Office

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You know this happens all the time. An automatic dialer from a debt settlement company calls an Attorney General office by mistake. In this case the call went to a BBB office in Texas where it was recorded. Okay, before you get your britches in a bunch I know the BBB has no regulatory authority but they are the wrong ... Read More »

Owe the State of Iowa? Your Debt May Increase by 25%

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The State of Iowa is looking for a way to balance their budget by collecting on hundreds of millions of dollars owed to the state for unpaid taxes, court charges, and anything else they can think of. The legislation says that when a debt becomes 120 days delinquent it will be sent to an outside collection agency that can add ... Read More »

Gateway Bank Select Rewards Visa Platinum Mailer Review

Gateway Bank Select Rewards Visa Platinum Card Mailer

This credit offer review is about the Gateway Bank Select Rewards Visa Platinum Card offer. As credit card mailers go this one is fairly stark. I’m not even sure why the card offer is from Gateway Bank since the fine print says the credit card is issued by Elan Financial Services as the creditor. That’s very misleading. But even Gateway ... Read More »

ASB Capital Group and Allen Brodetsky Stand Up and Address a Readers Concerns

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I received the following email from Brad who wanted to share his story with you about his experience with ASB Capital Group in Tarzana, California. If you have a tip you’d like to share, email it to [email protected] In researching the company briefly online I found the following video which includes Allen Brodetsky in it. ASB Capital Group gives an ... Read More »

Regulation of Debt Settlement Companies Looming

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This is a guest post by Kenneth Long, President of Fiscal Progress. If you would like to submit a guest post for publication, just send me an email to [email protected] Steve On September 25, 2008 the Federal Trade Commission (FTC) held a public workshop to explore the for-profit debt settlement industry. Panelists representing debt settlement companies, consumer advocates, regulators and ... Read More »

Foreclosure Scam Ringleader Faces 49 Years Behind Bars

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The ringleader in a Carlsbad, California-based scam that tricked mostly Spanish-speaking homeowners into paying for a bogus service to stave off foreclosure was convicted of 160 felony counts by a San Diego jury Tuesday, according to the district attorney’s office. William Hutchings, 62, of San Diego faces 49 years in prison on the convictions that included conspiracy, grand theft, rent ... Read More »

Colorado Attorney General Reaches Settlement With Identity Theft Scammer

Colorado Attorney General John Suthers announced today that attorneys from the office’s Consumer Protection Section have reached a settlement with Donald Sterling Whitlock (DOB: 5/6/1970) that secured full restitution for the victims of his elaborate identity theft and commercial-lending scheme. The State had originally also charged his wife Erin Whitlock in the scam but she was dropped from the suit. ... Read More »

Loan Modification Company Operating Out of Mailbox at UPS Store is a Scam

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Federal prosecutors have indicted two San Diego men featured in an ABC News investigation for their role in allegedly defrauding desperate homeowners trying to modify their mortgages. Investigation uncovers businesses posing as something they’re not. Glenn Rosofsky and Michael Trap, who ran a business called Nations Housing Modification Center, are charged with duping homeowners who were falling behind on their ... Read More »

Is the Living Free and Clear Program Offered by TJ Marrs and Asset Solutions a Scam?

Living Free and Clear Sales Price

Recently someone came to the site and posted a comment (see comment from Dee) that lead me to the video to the right and that took me to the Living Free and Clear program by TJ Marrs (Theron-Jay Marrs). At first glance I saw what I thought were many of the same pitches I saw from Dave Burke and The ... Read More »

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