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Debt Relief Industry

Legal Helpers Debt Resolution Sues Global Client Solutions. Bloom Off That Rose.

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On April 23, 2012 Legal Helpers Debt Resolution filed suit against Global Client Solutions and CDS Client Services. in Illinois. It’s just so amazing how far the once loving relationship between Legal Helpers and Global Client Solutions has changed. At one point people were concerned Global Client Solutions may have been bending over backwards to assist Legal Helpers Debt Resolution ... Read More »

Office of Fair Trading in UK Issues New Rules for Debt Relief Providers

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The Office of Fair Trading (OFT) in the UK has recently issued new rules that govern the delivery of debt relief assistance in the UK. Under these new rules a number of items are considered to be unfair or improper business practices. The OFT stated: Businesses specialising in ‘lead generation’ use various marketing methods to generate leads, particularly online via ... Read More »

Current List of Debt Settlement Companies Licensed in Maryland

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According to the Maryland Division of Financial Regulation, the following companies are the only ones licensed to offer debt settlement services in Maryland under the new debt settlement law. This list is effective April 19, 2012. Freedom Debt Relief 1875 S. Grant Street, Suite 450 San Mateo, CA 94402-2676 CareOne Services, Inc. 8993 Stanford Boulevard Columbia, Maryland 21045 Debt Relief ... Read More »

Nationwide Asset Services in Bankruptcy to Sell Client Accounts

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A tipster (send in your tips here) sent me the following message: NAS has recently declared bankruptcy and has been ordered to sell their accounts. They don’t tell their customers, but any that are not sold by the deadline will be s.o.l. They tried to sell them to their other company, FCS, but are not able to. I deciphered that ... Read More »

FTC Goes After Another Alleged Collection Enterprise That Threatened Consumers and Offered Debt Reduction Services

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The Federal Trade Commission recently filed suit against Pro Credit Group, Brett Fisher, Sanders Legal Group, Sanders Law, Andre Sanders, My Success Track, Consumer Credit Group, Dale Robinson, William Balsamo and First Financial Asset Services. According to the FTC court documents, the defendants operated a common enterprise while engaging in deceptive acts and practices. They used an interrelated network of ... Read More »

Bankruptcy Court Not In Love With Attorney Loophole Debt Settlement. It’s a Duck.

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A recent memorandum opinion from Kansas in the United States Bankruptcy Court against Persels and Associates and attorney Stan Goodwin didn’t probably wind up how Persels would have wanted it to. The summary of the opinion is intriguing and clear. The United States Chief Bankruptcy Judge, Robert Nugent, says: If it walks like a duck and swims like a duck ... Read More »

Amazing How Hypocritical You Are Steve Rhode

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Someone just posted the following comment, on a post about Lloyd Ward, which actually creates a perfect segue for me to finally write an article I’ve had percolating for some time. While some of the claims made by the commenter are skewed, it is true that back in the early 2000s the non-profit group that I ran did charge some ... Read More »

Scott Law Group Debt Settlement Litigation List Contains Some New Companies

The Scott Law Group in Washington State has been VERY active in going after debt settlement companies that allegedly injure consumers. It appears some new companies have been added to their list of current litigation, The new companies include FBL Associates, Lifeguard Financial, Please Reduce My Debt, and Think Outside the Box Solutions. – Source Here is the current list ... Read More »

Connecticut Forces Global Client Solutions to Make Sure Debt Settlement Companies Are Really Licensed

Global Client Solutions, one of the major escrow companies that handles funds for debt settlement clients, was charged with being an unlicensed money transmitter by the state of Connecticut and then entered into a consent order to resolve the issue. According to the records, on November 30, 2011 Global Client Solutions received a cease and desist letter from the state ... Read More »

Oh Dear – Debt Help and Answers Site Needs Help

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Someone asked me to look at debthelpandanswers.com, and so I did. Clearly what we have here is a small player who is trying to attract potential customers. The site appears to be for a Marcella Hill. My clients are everyday American’s who are facing financial crisis due to the current economy and personal hardships. My clients are served by me, ... Read More »

Consumer Credit Default Rates Drop in March 2012

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Data through March 2012, released today by S&P Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults showed that, with the exception of bank card, all loan types saw a decrease in default rates for the third consecutive month. In addition, the four that did decrease posted their lowest rates ... Read More »

Bogus National Debt Relief Hardship Program Mailer Still Being Sent

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First off I would like to applaud the debt relief company that sent me in this mailer. Good debt relief companies that care about consumers and who want to play a role is stamping out bogus advertising that hurt the entire industry, can play a role by forwarding material to me at [email protected] I’ve covered bogus mailers on The National ... Read More »

Pro Debt Solutions Creates Consumer Advantage Loan to Lend Money to Debtors First and Then Settle Their Debt

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A reader posted a comment about a company called Pro Debt Solutions in California. While this initially sounded like the same debt restructuring B.S. we’ve heard about and covered before, this might actually be a different approach. The reader said: The company I used in place of the settlement company is called Pro Debt Solutions.This company negotiates settlements with the ... Read More »

The Resolution Law Group Sued Over Claims in Mailer by First Mariner Bank

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It looks like another company marketing services against lenders has run into trouble as a result of their mailers. It’s somewhat similar to the claims made against another company, NHT Law Group. You can read that story here. It looks like mortgage lenders are going after these mass joinder like mailers more often. In the complaint filed against The Resolution ... Read More »

CFPB Sends Clear Message You Will Be Held Responsible for Your Affiliates and Lead Sources

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You absolutely can’t overlook the April 13th announcement from the Consumer Financial Protection Bureau about the liability that extends to any debt relief company by the actions of service providers. The CFPB will hold all appropriate companies accountable when legal violations occur with service providers you contract with. “Consumers are at a real disadvantage because they do not get to ... Read More »

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