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In The News

TFC Warns Customers About Darren Peck, Mark Serebrin & Philip Manger

TFC Warning

The Fulfillment Center appears to have an issue with some former marketing representatives who are opening a credit repair company. The infringing company is alleged to be called TFC West and soon to be changed to Safe Haven Credit. I’m curious if Philip Manger is the same Philip Manger that was mixed up in CCDN mess. Get Out of Debt ... Read More »

Lawsuit Loans Heating Up. Worth Watching.

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Last week I wrote about LawCash and Oasis Legal Finance being challenged in Colorado over their legal settlement funding approach. Yesterday the New York Times ran with a look at the legal settlement funding or lawsuit lending industry. It’s an interesting article worth reading. Ernesto Kho had pressing needs of his own. Medical bills had piled up after he was ... Read More »

Does the New Debt Settlement Industry Get It?

A tipster (send in your tips here) sent in a link to a recent article from CreditCards.com that was published on Fox Business, “Debt settlement industry in flux as new rules start.” In the article is a section attributed to Andrew Houser from Freedom Debt Relief. Cherry picking the good cases Housser from the settlement industry trade group says the ... Read More »

Former Capital One Insider Spills Beans About Debt Settlement and Capital One.

On January 7, 2010, FTC staff spoke by telephone with Michael Figliuolo, an individual who submitted a comment in response to the Notice of Proposed Rulemaking regarding the debt relief amendments to the Telemarketing Sales Rule. Mr. Figliuolo worked for several years in Capital One’s collections department. In 2001, he began working at Capital One as Group Manager for U.S. ... Read More »

Debt Relief Firm Grows Rapidly – Reliance Inc.

The Sun Sentinel out of Florida is reporting on the rapid grown of a debt relief company I have written about before, Reliance Inc. The article was sent to me by a tipster (send in your tips here) and it wasn’t till I went back and read my last post on Reliance Inc and read the comments that I then ... Read More »

CareOne Jumps on Bandwagon with Credit Counseling Request for FTC to Take Action Against Rogue Debt Settlement Companies

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A pretty smart move by CareOne. See press release below. Get Out of Debt Guy – Twitter, G+, Facebook CareOne Expands On Push to Close Debt Settlement Loopholes Columbia, Md. (December 16, 2010) – CareOne Services Inc. is adding its support to an effort launched December 15th by 11 nonprofit debt relief providers seeking more aggressive enforcement of the Federal ... Read More »

Debt Free League Launches FreeBankruptcyTest.com With Attack on Credit Counseling

FreeBankruptcyTest.com Site Page 1

Apparently the lads over at Debt Free League, who I’ve written about before, have launched a new website with a big press release. The site is FreeBankruptcyTest.com and claims “The company’s site, FreeBankrutcytest.com helps the public to freely compare debt relief choices, including bankruptcy, debt negotiation, debt consolidation, tax settlement, and student loan consolidation.” Just one problem, it does not ... Read More »

Morgan Drexen Loses Bronze Accreditation From DSCP

A tipster (send in your tips here) brought the following item to my attention from the Debt Settlement Consumer Protection site. Morgan Drexen’s Accreditations have been revoked When we originally reviewed Morgan Drexen on Debt Settlement Consumer Protection, we gave them a bronze accreditation (lowest DSCP accreditation). Because of public outcry we have removed any accreditation from Morgan Drexen. Their ... Read More »

Will the IAPDA Finally Let Me Review Their Training Materials?

I see the International Association of Professional Debt Arbitrators (IAPDA) has sent out the press release below applauding the new FTC telemarketing sales rules. The release reminded me that back in July, 2010 I had reviewed the IAPDA certification materials that had been given to me at that time by someone and I’d asked the IAPDA for updated materials to ... Read More »

FBL Associates Claims They Help Police Raid Debt Relief Office of Attorney Evan Kagan. Kagan Denies Allegation.

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This statement was just posted by a commenter who either has a contact inside FBL Associates or is with FBL Associates. I have reached out to FBL Associates and Evan Kagan for comment but have not heard back by the time this was posted. UPDATE: See rebuttal statement below from Evan Kagan Esq., saying it is untrue. UPADTE: See short ... Read More »

New Era Debt Solutions Tells TASC to Shove It After Attending Debt Settlement Conference

New Era Resignation Letter

New Era Debt Solutions has just notified TASC they have resigned from TASC, effective immediately, out of disgust of tactics. Click on image for larger view. It appears that whatever went on at the recent debt settlement leadership conference in Las Vegas stirred up enough of a bad taste in the mouth of New Era Debt Solutions that they have ... Read More »

Debt Settlement Companies Please Stop Announcing You Are Going to Comply With New Rules And Just Do It

Hamilton Debt Relief Cartoon

In what is becoming an irritating series of press releases from debt settlement companies comes yet another from Hamilton Debt Relief. The point debt settlement companies are missing is that it should not be news if you actually abide by the rules and laws of the land. That’s not the stuff you pay to announce in the press. Where you ... Read More »

Consumer Recovery Network Makes The Wall Street Journal Site

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Our friends over at the Consumer Recovery Network (CRN) made the Wall Street Journal site today in a good way. In an article titled Limiting Psychological Damage From Debt Collections a consumer talks about how working with CRN helped to easy their stress. Helped by the Consumer Recovery Network, which teaches people to self-manage the wrenching debt settlement process, Bonadio ... Read More »

Debtmerica Launches It’s New Performance 100 Program to Comply With FTC TSR. But…

Debtmerica Graphic

So this morning I open up the press release from Debtmerica and I was elated to see yet another debt settlement company come out and support the FTC TSR. But when I scrolled down to the bottom of the release, what do I see, but an embedded look at the top of their website with language that the FTC TSR ... Read More »

Doug Van Arsdale of Credit Solutions of America Loses Awesome Football Season Tickets to IRS

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Tipsters have been sending in information about a rumor that Credit Solutions of America CEO just had the IRS seize and sell Dallas Cowboy season tickets he was using to make a little dent in the $4.5 million owed by his other company, Lending.com, to the Internal Revenue Service. The Dallas Morning News is reporting the prime seating tickets sold ... Read More »

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