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Debt Relief Industry

Do Debt Relief Companies Face Liability When Buying Credit Bureau Leads?

Thanks to a reader a recent action by the Federal Trade Commission against Equifax bring up issues surrounding the purchase of leads or information from credit bureaus. In the complaint filed by the FTC, debt relief services are specifically addressed. In this case, Equifax Information Services LLC, has agreed to settle Federal Trade Commission charges that it improperly sold lists ... Read More »

Today’s Group of Debt Relief Companies Slapped by Connecticut

Readers of the site will know by now that the State of Connecticut does not take much guff from debt relief companies. Here is the latest round of debt relief companies named by the State for performing unwelcome services. The Mortgage Law Group, The Law Office of Macey Aleman & Searns, Attorney Process Solutions WHEREAS, on April 24, 2012, the ... Read More »

NFCC Celebrates Utter Stupidity and Puts Older Dementia Patient in Debt Management Plan

A press release out today by the National Foundation for Credit Counseling is downright ignorant, stupid, harmful and cruel. It’s hard to believe they feel this is something to be proud of. For the record, I’m not calling the consumer stupid. In this release the NFCC brags about Francine and Jim Bostick who at ages 57 and 68 had more ... Read More »

1st Choice Document Preparation LLC. Reader Wants to Know Who is Behind It.

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A reader and tipster (send in your tips here) sent in an inquiry about 1st Choice Document Preparation, LLC. They expressed a concern that the company was tied to others in the California loan modification marketplace so I wanted to take a look and see what I could find. It appears 1st Choice Document Preparation, LLC was registered in the ... Read More »

Did You Know Debt Relief Recurring Revenue is Amazing?

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Look at this recent ad run in Maryland. The people that ran this must certainly have no idea what they are looking at in the debt relief space. The bragging point is “No License” which would give people a wrong impression that there isn’t significant regulation involved in selling debt relief services. I wonder if prospective applicants get a copy ... Read More »

I’d Like to Open a Credit Repair Business in California. What Should I Do? – Edward

Dear Steve, I like to open my credit repair company in California and I can afford the down payment for the bound it is going to be $10,000 to $20,000 m I like to do this business because I know I can help a lot of people that need an honest solution to their problem, and not make them pay ... Read More »

July, 2012 Debt Levels Ugly for Debt Relief Industry. Tea Leaves Telling Story.

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The Board of Governors of the Federal Reserve System announced that in July, 2012 the amount of revolving consumer debt contracted by 6.75 percent. This marks another decline in the levels of consumer debt and less demand for debt relief services. Let’s not forget that as long as consumer debt drops, the level of debt person drops exponentially as the ... Read More »

GetOutOfDebt.org Launches New Free Service for Debt Relief Industry

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Today we are pleased to announce a new free service for the debt relief industry. Debt relief related companies will now be able to submit their press releases directly to the site for inclusion to promote new products, services, or entities in the debt relief world. The publication of debt relief press releases is something we have done for quite ... Read More »

What Planet is Debt Free Angels On? I’m Going With Uranus.

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A reader sent in a tip about a claim made on the San Antonio, Texas Debt Free Angels website (debtfreeangels.com) regarding how their service helps protect a security clearance. I thought they certainly can’t be saying that. And there it is. Debt Free Angels is a debt relief company that has appeared in this site before. You can see past ... Read More »

Ryan Sasson, Legal Helpers Debt Resolution and Others Sued by Employees New York Class Action Suit

On September 11, 2012 a suit was filed in New York by employees against LHDR Help, Legal Helpers Debt Resolution, Macey Aleman Hyslip & Searns, Thomas Macey, Jeffrey Aleman, Jeffrey Hyslip, Jason Searns, Credit Advocates Law Firm, and Ryan Sasson. The suit was filed by Benjamin Xue, Esq. & Brian Shenker, Esq, 401 North Broadway, Suite 1009, New York, New ... Read More »

Court Dismisses Lloyd Ward’s Suit Against GetOutOfDebt.org

On October 7, 2011 Dallas debt settlement attorney Lloyd Ward sued my wife, myself, this site, and the company. You can read about the suit at Lloyd Ward and Lloyd Ward & Associates Sue GetOutOfDebt.org. Today the court dismissed the case. – Source Get Out of Debt Guy – Twitter, G+, Facebook Read More »

Larry Diodato Screaming At Me Makes Me Want to Know More About August Belmont and Company

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This story was written back in June, 2012 and we did not publish it at that time. But in light of the recent action by the Florida Attorney General against August Belmont & Company, Larry Diodato and others we are publishing it now since it is suddenly relevant in that it includes several of the entities named in the Attorney ... Read More »

The Future of Debt Relief Calls for Greater Transparency; Captain Debt America Answers the Call

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Most followers in Steve‚Äôs community are well aware that the debt settlement industry has taken its share of blows since the 2010 FTC Ruling. Unfortunately, many of the most ethical firms have born the brunt of that burden, putting increasing pressure on their finances. As competition continues to rise, legal models still claiming the attorney loophole, and state regulators remaining ... Read More »

Silverleaf Debt Solutions, Lloyd Ward and Others Sued by Ohio Bankruptcy Trustee

Lloyd Ward, Amanda Ward, Stephanie (Cherwin) Regner, Lloyd Regner at Turtle Creek Karaoke Lounge duing happier times. Now all are being sued in one or another debt relief lawsuits.

A bankruptcy trustee in Ohio has filed suit against the following parties: Lloyd Ward, Lloyd Ward & Associates, Lloyd Ward Group, Silverleaf Debt Solutions, fka Debt Relief RX USA, and Michael Miles. This complaint is interesting because it raises this point, “Defendants deceptively disparaged bankruptcy as a viable alternative for Debtors.” That’s the first time I can recall an attorney ... Read More »

Is Fast Track Debt Relief Thumbing It’s Nose at the FTC?

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A reader wanted to know about the representations made on the Fast Track Debt Relief website. Specifically they wanted to know if the claims made by Fast Track Debt Relief flew against the guidance given by the Federal Trade Commission when it came to making performance claims. And the reader does have a point. While Fast Track Debt Relief does ... Read More »

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