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Debt Relief Industry

Revolving Debt Falls Again in July. Increasing Obligations a Major Concern.

Non-Revolving Consumer Debt 199-2011

The latest Federal Reserve report out shows revolving credit card debt fell for the second straight month. In July, 2012 the amount of revolving debt consumers carry declined by 6.8 percent or about $5 billion. Of course the concern in the debt relief industry is that declining unsecured consumer debt means the likelihood of a slower demand for debt relief ... Read More »

AFCC Just as Peeved About Uninformed DOJ Position on Debt Settlement

On August 16th I wrote about a Department of Justice blog post about debt settlement that was, let’s politically say, perplexing. Ah what the hell, it was just plain old fucked up. The Department of Justice made some very uninformed statements about debt settlement, like “Fraudulent debt relief companies will often make claims of being able to negotiate a one-time ... Read More »

Lloyd Ward Accused of of Gross Legal Malpractice by The Debt Answer and ABC Debt Relief: Update to Most Bizarre Debt Relief Suit of the Year

Not that long ago I published a story about the most bizarre debt relief lawsuit of the year where Lloyd Regner and The Debt Answer, among others, were suing his ex-partner Kevin Devoto and Dallas attorney Lloyd Ward. A tipster (send in your tips here) sent in a copy of a newly filed amended complaint in the matter. Much of ... Read More »

World Law Debt Allegedly Sends Mailer That Leads to This Horrible Sales Call and Apple Law Group. Listen.

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A reader received the following mailer and was concerned about the promises made. You know, at some point, after years of covering these things it feels like it will never end. It’s just one deceptive and misleading mailer sent after another. I begrudgingly picked up the phone and called the number on the “Resolution Pending” mailer and it was answered ... Read More »

Reader Sends in Deceptive Debt Relief Official Looking Mailer That Leads to World Law Group

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Apparently the use of deceptive marketing mailers is still ongoing. A reader just sent in a copy of a mailer they received recently that appears to be an official government looking document promising some sort of official government debt relief. The reader also said, the mailer does not identify the company. Notice it has a government seal in the upper ... Read More »

Not Passing Out Credit Like Water Holds Back Economic Recovery

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A new report out today from the Federal Reserve Bank of San Francisco makes a conclusion is apparently obvious to those of familiar with how the consumer debt relief world works, without a flood of available credit, consumers are not going to drive the economy forward. “A key ingredient of an economic recovery is a pickup in household spending supported ... Read More »

Debt Relief Job Board for Credit Counseling, Debt Settlement and Bankruptcy Positions

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Are you in the debt relief industry and interested in a new or better job? Over here at GetOutOfDebt.org we not only write about the debt relief industry, and sure sometimes we are critical about it, but there are a lot of good people in the industry that are looking for a new or higher paying jobs and searching for ... Read More »

State Law Group Appears in the Connecticut Time Out Corner

New update from Connecticut today on another debt relief company. State Law Group is a purported California professional law corporation with offices, at various times, at 1740 E. Garry Avenue, Suite 221, Santa Ana, California; 4533 MacArthur Boulevard, Suite 1000, Newport Beach, California; 4533 MacArthur Boulevard, Suite 537, Newport Beach, California; and 1720 E. Garry Avenue, Suite 111, Santa Ana, ... Read More »

Persels & Associates Appears to Discover Millions of Dollars. CareOne Facing Bankruptcy?

Back in September, 2011 a class action lawsuit in Florida resulted in a very disappointing settlement for consumers. Basically consumers received no compensation and lost their rights, (here). People complained about the proposed and final settlement but to no avail. In the Florida case Neil Ruther from Persels & Associates said they could not fund a big settlement. “In order ... Read More »

Department of Justice Makes Very Strange Claims About Debt Settlement & Credit Counseling

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A reader brought to my attention today a post by the Department of Justice about debt relief. While I think the intention was to help protect consumers from debt relief scams, in this case they missed the mark entirely. The beginning of their blog post is reasonable and factual when they say, “These companies generally offer to settle a consumer’s ... Read More »

America Financial Law Group and The Law Offices of Andrea Loveless Get CT Slap.

The tough regulators in Connecticut just announced an action against America Financial Law Group and The Law Offices of Andrea Loveless. According to the action made public today, the following facts are asserted by the state. 1. Respondent is a purported California limited liability partnership with an office at 1 Spectrum Pointe, Suite 300, Lake Forest, California. 2. On or ... Read More »

Alleged Former Employee Speaks Out About Rescue One Financial Loan Offers

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A reader sent me a letter. Yes, one of those things that is printed on paper. In this letter the reader says they worked for Rescue One Financial and wanted to share information. The allegations made by the reader are disturbing. And if true, in my opinion, would paint a picture of premeditated deception on part of the debt relief ... Read More »

CT Fidelity Debt Solutions Ass Kicking for June, 2012

Man oh man. If you are a debt relief provider, Connecticut is not one state you want to play around with. Each month we get a new crop of debt relief companies that have run afoul of state regulations. Here is the graduating class for June 2012. Fortunately for debt relief providers there is only one new name to add ... Read More »

Credit Card Data Out. Good News, Bad News for Debt Relief Providers

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TransUnion has release the latest credit card data which has both longer term good news and short term bad news for the debt relief industry. Let’s get the bad news out of the way, credit card delinquencies are down. That should quiet demand for debt relief services for at least the next year. The national credit card delinquency rate (the ... Read More »

Lloyd Ward Sued for Malpractice. It Just Keeps Getting Worse and Worse for the Guy.

Texas debt settlement attorney Lloyd Ward seems to take blow after blow after blow. I’m not even sure how many active lawsuits he’s involved with at the moment. He’s got at least two class action suits open, a suit filed against him by the State Bar of Texas, his suit against the BBB, a judgment or two against him, some ... Read More »

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