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In The News

Debt Collection Companies Still Think Debt Settlement Offers Are Too Low

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A tipster (send in your tips here) pointed out to me an article in insideARM today that talks about why about half of debt collection companies do not yet work with debt settlement companies. “The second most interesting data point to emerge was only one of the top six reasons for not working with debt settlement providers related to the ... Read More »

SaveMore.com Sucks. Doug Van Arsdale of Credit Solutions Fame Back in the News.

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An tip just came in from a reader. Seems Doug Van Arsdale the CEO of Lending.com and CEO of Credit Solutions of America is back in the news. The allegation is that Van Arsdale is the indirect owner of SaveMore.com, a Grouponesque spinoff that sells discounts and coupons, is not delivering coupons to consumers more funds to merchants. A visit ... Read More »

Lawyer Loophole for Debt Settlement Criticized in Minnesotta

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A very interesting article in the Star Tribune was brought to my attention by a reader. It calls for a closure of the debt settlement loophole in Minnesota that allows attorneys to collect advanced fees. Kara McGuire wrote, “In Minnesota, laws are on the books that forbid charging steep upfront fees for promising to negotiate a deal with creditors to ... Read More »

Christopher Boulahanis and Capital Debt Relief Meet Georgia

Christopher Boulahanis, who has been in the news after the collapse of his nonprofit credit counseling group United Financial Systems, appears to have made more news this year with his Capital Debt Relief company being cited by Georgia. While this action took place in February, 2011, the BBB just published this report recently according to a reader. Here is the ... Read More »

Consumer Mediation Services Opens to Help Scammed Consumers

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A new type of company has just opened to help consumers that may have been scammed by a debt relief company, and is looking for money back, but getting nowhere. We all know how frustrating that is. If you are the consumer and you didn’t get the services that were sold to you, the matter could be put to rest ... Read More »

Debt Settlement Lead Vendor Murders Partner Over Money

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A tipster (send in your tips here) sent this in to me in disgust over the usual DUI, DWI, mugshots I post from time to time. They were getting bored with seeing the petty stuff so they wanted to bring the case of two debt settlement lead vendors from 800 Exchange, where one killed the other. Edward Shin, CEO, or ... Read More »

Mass Joinder Raids and a Review of the Lawsuits Against Lawyers and Marketers

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Yesterday a number of law enforcement officials raided offices of lawyers and marketing participants who have been involved in mass joinder efforts. Consumers were sold access to lawsuits with a number of claims against their lenders and were told they could get their homes free and clear, cash back, stop foreclosure, etc. These efforts were pushed by marketers that took ... Read More »

Leading Debt Arbitrators Pissed Off At Canadian Credit Counseling Society

Leading Debt Arbitrators Not BBB Accrediated

A tipster (send in your tips here) just alerted me that a company I had recently written about in Is Leading Debt Arbitrators in Canada a Poser? is apparently taking a run at another of their critics, the Credit Counseling Society at nomoredebts.org. And while they took an ill fated swipe at the Credit Counseling Society they have only harmed ... Read More »

Bankruptcy 2010 Annual Report Out. Chapter 7 Still Mac Daddy.

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The United States Courts just released the complete bankruptcy survey for 2010 bankruptcies. It shows that the majority of bankruptcy filings are for Chapter 7. Here is what the 2010 results show. I’ve highlighted the parts that stood out to me. Summary of Findings During calendar year 2010, more than 1.5 million bankruptcy petitions were filed by individuals with predominantly ... Read More »

Morgan Drexen Skewered by The Center for Public Integrity

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Shirley Gao from The Center for Public Integrity just posted a look at the activities of Morgan Drexen in the case of retired schoolteacher Mary Linville from West Virginia. Linville had engaged Morgan Drexen to provide her with debt settlement services and wound up sued by one of her creditors. The West Virigina Attorney General later filed suit against Morgan ... Read More »

Practical Debt Relief Mentioned in Confusing Press Release

A reader and tipster (send in your tips here) sent me the link to a rather confusing press release about Practical Debt Relief. The release, which looks like it was put out by their SEO vendor, makes it appear Practical Debt Relief is a lead generator rather than a debt relief provider. Furthermore, eBrandz’ services gave a massive fillip to ... Read More »

BBB Concerned Over Questionable Morgan Drexen Television Commercial

Back in May I wrote about a Morgan Drexen television commercial that caught my eye. See Morgan Drexen Running TV Commercial for Debt Settlement Clients. Says It Is Exempt from FTC Rules. Well a tipster (send in your tips here) just brought to my attention that the BBB evidently took exception to the same or a similar commercial. The BBB ... Read More »

Who is Florida Debt Resolve? Reader Wants to Know.

Today I received and email from a reader and tipster (send in your tips here) who wanted more information about Florida Debt Resolve. It seems the reader had noticed a press release sent out today by Florida Debt Resolve regarding their iPhone app. In an effort to serve their clients more effectively and efficiently, Florida Debt Resolve has launched a ... Read More »

Florida Bar Issues Warning to Lawyers Getting into Mortgage Modification With Non-Lawyers

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A recent article by the Florida Bar seems to also be relevant to those attorneys that are selling mass joinder litigation to go after banks that issued mortgages. The mass joinder sales reps frequently say it is a solution to help avoid foreclosure. Here is an excerpt of what the Florida Bar has said: The Florida Bar’s Ethics Hotline has ... Read More »

Former TASC Executive Director Says Legal Helpers Debt Resolution is Awesome and Will Stay the Course

Despite the growing number of lawsuits against Legal Helpers Debt Resolution they stand by their services. In a press release sent out recently they appear to believe the wave of recent lawsuits naming then is an unfair witch hunt, is political and profit-driven and damn the suits, it’s business as usual. “We are a law firm, the first truly national ... Read More »

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