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Debt Relief Industry

Continued Downward Pressure In Debt Relief Demand

Mature woman confused

The latest round of statistics is out showing what consumers are doing when it comes to debt. On the surface it appears the amount of debt is going up and that’s good news for credit counselors and debt settlement companies. A closer inspection though continues the gloom forecast for such services. While consumer debt is up, revolving debt, the bread ... Read More »

Why Isn’t AmeriFree Licensed in Their Own State?

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A reader asked me why a debt relief company AmeriFree, located in Arizona, was not licensed as a debt management company according to the state AmeriFree is located in. My answer was, “don’t know” so I went to investigate. AmeriFree can be found at amerifree.com and their domain regisration says they are located at: AmeriFree Financial, Inc 1920 E Broadway ... Read More »

Debt Relief Salesperson Sentenced to Jail for Marketing Misrepresentations

mans hands behind bars in jail or prison

A Florida man was sentenced today to serve 12 months and one day in federal prison for defrauding thousands of homeowners in a $4 million nationwide home loan modification scheme. Special Inspector General for the Troubled Asset Relief Program (SIGTARP) Christy Romero, Acting Assistant Attorney General Mythili Raman of the Justice Department’s Criminal Division, and U.S. Attorney Carmen M. Ortiz ... Read More »

Fake Looking Official Mailer for Student Loan Assistance

Student Loan Services Pre-Qual

An amazing reader, Emily, sent in a new debt relief mailer through my I Buy Junk Mail program. As you can see from the outside the mailer does not identify the company and pretends to look like an official mailer. It comes from postal permit 1297 in Sacramento, California, which has been responsible for sending out other debt relief mailers. ... Read More »

Big Changes Afoot for CareOne

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Whispers online were telling me about big changes to CareOne coming. According to CareOne spokesperson Suzanne Coblentz, there are. “CareOne, a subsidiary of Ascend One, will continue to provide the same great service our customers have come to expect from CareOne. For the time being, the CareOne brand will continue to be in the market, but will not be making ... Read More »

Why Did First Stone Credit Counseling Pay Commissions?

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A reader wanted to know why the public returns for First Stone Credit Counseling listed commissions as an expense since nonprofit credit counselors are not allowed to pay commissions under 501(q). – Source A visit to their site at firststone.com found a curious title to their site. It seems their primary focus is not credit counseling in the title but ... Read More »

Who is Really Behind Resolution Law Group?

Mature woman confused

Calls are coming in from consumer advocates asking me who is really behind Resolution Law Group out of Connecticut. I’ve written about them before, here. The company was selling mass joinder mortgage cancellation services to consumers. It seems the Resolution Law Group is being less than transparent about who is really in control and inquiring minds want to know. If ... Read More »

Jacoby & Meyers Bankruptcy Goes Dark

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A tipster (send in your tips here) sent in a message about the Jacoby & Meyers Bankruptcy site had a strange message on it. For those that might not remember, Jacoby & Meyers Bankruptcy was created when Macey Bankruptcy Law merged with Jacoby & Meyers. As of right now the Jacoby & Meyers website is essentially gone. It does have ... Read More »

Credit Counseling Agencies Need Credit Counseling Help

stressed man

Richard Burnett of the Orlando Sentinel recently wrote an interesting piece about the realities of modern non-profit credit counseling and how they need help. With demand dropping, existing credit counseling agencies are scrambling to find new avenues of income. Credit counseling agencies are turning to trying to sell student loan assistance and one agency reports having a pilot program to ... Read More »

Edward Cherry Changes Name to Edward Gregory Steadman

oops

A tipster (send in your tips here) sent in a tip that Edward Cherry legally changed his name in 2013 from Edward Cherry to Edward Gregory Steadman. Apparently this happened when he applied for the name change in May of 2013 but it was not finalized until July 2013. Normally a name change would be a huge non-news event but ... Read More »

West Virginia Sues Legal Helpers Debt Resolution

law books

West Virginia Attorney General Patrick Morrisey announced today that his Office recently filed suit in Kanawha County Circuit Court seeking to prohibit Legal Helpers Debt Resolution LLC from doing any further business in the state. Talk about late to the party. In his complaint, Attorney General Morrisey alleges Legal Helpers Debt Resolution LLC, a Nevada company based in Chicago, violated ... Read More »

Consumer Relief Programs / Consumer Advocacy Assistance Nastygram

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The state of Connecticut has issued an order to make restitution and cease and desist order to California based Consumer Relief Programs / Consumer Advocacy Assistance programs. According to the State “the company is a California corporation with offices at 14252 Culver Drive, Suite 352, Irvine, California, and 24881 Alicia Parkway, Suite #E516, Laguna Hills, California. On or about October ... Read More »

Lloyd Ward Loses on Appeal. KS Judgment to be Enforced in TX.

begging

First a personal message to Lloyd Ward. Lloyd, I don’t stalk you, care about you, think about you, or follow you. The only reason I’m writing this story is because people keep sending stuff to me that relates to your past debt settlement activities. I don’t even publish all the stuff people send me. And we now resume our regular ... Read More »

Credit Answers Settles With Colorado

law books

With receipt of $225,000, the state has resolved a case in which 615 Coloradans were financially harmed by a Texas-based debt-settlement company that was operating illegally in Colorado. The Consumer Protection Section of the Attorney General’s Office has entered a stipulation and final agency order with the now defunct CreditAnswers and its Chief Executive Officer William Loughborough (D.O.B. 11/02/62). “When ... Read More »

2014 Projections Show a Bad Year for Debt Relief Companies

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TransUnion is out with data on 2014 delinquency projections. They are showing both flat delinquencies in mortgage and credit card areas. This is bad news for debt relief companies who are looking for increased demand of the services they offer. Not only is the projected trend to remain flat but at historically low levels. The national mortgage loan delinquency rate ... Read More »

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