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Debt Relief Industry

Leading Debt Arbitrators Pissed Off At Canadian Credit Counseling Society

Leading Debt Arbitrators Not BBB Accrediated

A tipster (send in your tips here) just alerted me that a company I had recently written about in Is Leading Debt Arbitrators in Canada a Poser? is apparently taking a run at another of their critics, the Credit Counseling Society at nomoredebts.org. And while they took an ill fated swipe at the Credit Counseling Society they have only harmed ... Read More »

Johnson Law Group and ESS Fall Out of Love

Just today I was reporting about Enhanced Support Services (ESS) after they were hit with a $594,000 fine and refund in Colorado. At one point Johnson Law Group in Orlando was the creation of Tom Roland of ESS and other companies. But apparently the love affair is over between the two groups. An email sent to Johnson Law Group clients ... Read More »

Tom Roland and Enhanced Servicing Solutions Slamed With Half Million Dollar Civil Fine.

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Colorado Attorney General John Suthers announced yesterday that his office has obtained a $590,000 judgment against Orlando, Fla.-based Enhanced Servicing Solutions after the company engaged in unregistered debt management services for Colorado consumers. The judgment, which comprises $504,000 in civil fines and $90,000 in consumer restitution, followed a June complaint against the company and its president, Thomas Roland. The judgment ... Read More »

Legal Helpers Debt Resolution Mailer. Reader Reports Them to Bar.

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A reader and tipster (send in your tips here) just sent in a mailer they received from Legal Helpers Debt Resolution and Macey, Aleman, Hyslip & Searns. The reader sent the mailer in through the tip line here and said: Here is a solicitation letter I received form Legal Helpers/Macey Aleman. I am a North Carolina resident. The required disclaimer ... Read More »

Global Client Solutions Alleged to Enter Credit Counseling Arena

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For a number of months now I’ve heard that Global Client Solutions has wanted to get into the credit counseling and debt management arena. To date I’ve not published anything about this but I just received a very interesting letter that appears to confirm that and also allege that Global Client Solutions is/was considering kickbacks on monthly fees. This correspondence ... Read More »

Consumers Doing Much Better Paying On Time. 17 Year Low.

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New data out from TransUnion shows that consumers are doing a great job of bringing their finances back into good shape. For the sixth consecutive quarter, the credit card delinquency rate has dropped. The number of consumers that were 90 days or more delinquent has now dropped to a 17 year low and credit card debt per borrower is hovering ... Read More »

Consumers Avoiding Debt Reports NY Fed

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A report out from the New York Federal Reserve shows that the amount of consumer debt has dropped since June 2010. As of June 30, 2011, total consumer indebtedness was $11.4 trillion, a reduction of $1.08 trillion (8.6%) from its peak level at the close of 2008Q3. Consumers’ non-real estate indebtedness now stands at $2.28 trillion, 9.5% below its 2008Q4 ... Read More »

Credit Card Delinquencies at Pre-2006 Low Levels

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Experian is reporting that credit card accounts that are 60 days past due has reached levels not seen since before the recession. Nationally, since 2007, 20 percent fewer credit card payments are 60 days late, but 25 percent more consumers are paying their mortgage 60 days late. The cities that showed the most improvements to bankcard payments include Cleveland, Ohio; ... Read More »

Consumer Confidence Reaches 30 Year Low

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So here is a summary, consumer confidence/sentiment has plummeted and is the toilet at a 30 year low. According to survey data released by Thomson Reuters and the University of Michigan, the mood of the nation’s consumers in August was abysmal, raising concerns about any prospect of an economic turnaround. “Never before in the history of the surveys have so ... Read More »

Bankruptcies Down. Pipeline Cleaning Out.

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It looks like the predictions of decreasing demand for debt relief services is coming true in all sectors now. As I’ve been saying, without consumers cleaning out their debt through some means and creditors not extending credit in buckets like they were before, demand for debt relief services will be down. This is the latest from the American Bankruptcy Institute. ... Read More »

Bankruptcy 2010 Annual Report Out. Chapter 7 Still Mac Daddy.

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The United States Courts just released the complete bankruptcy survey for 2010 bankruptcies. It shows that the majority of bankruptcy filings are for Chapter 7. Here is what the 2010 results show. I’ve highlighted the parts that stood out to me. Summary of Findings During calendar year 2010, more than 1.5 million bankruptcy petitions were filed by individuals with predominantly ... Read More »

Debt Alternative Center and Legal Debt Pros Both Proud About Debt Restructuring

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A debt relief industry insider asked me to take a look at the Debt Alternative Center website. They expressed some deep concerns that they were promoting the debt restructuring product and FDCPA Protection products. They also asked me to look at the Legal Debt Pros site as well. I’ve said it before, debt restructuring is going to turn out to ... Read More »

Reader Looking for Debt Settlement Business Consultant

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I got this email and thought I’d pass it along in case anyone has a suggestion. “Steve – do you know of a debt settlement consultant out there to help me do a business plan for a new debt settlement marketing company with a performance based attorney model. I need to find someone to help me answer all my questions ... Read More »

US Credit Services Credit Repair Affiliate Program Pitched. What, No CROA?

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A tipster (send in your tips here) sent in an email they received that is pitching a magic money making opportunity to unsuspecting uninformed people as possible affiliates. The offer is to become a credit repair affiliate after loan modification or debt settlement is complete. My favorite line of the email has to be, “Remember, you can charge anything you ... Read More »

I’m Working at a Debt Relief Call Center in Florida and I Think It’s a Scam

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“Dear Steve, I am working at a call center in florida, just started the job, and I think its a scam. The company is only doing business in Canada under two companies, that we are told to say we are a separate entity from us. They used to be called Vortex before, and I have heard they change their name ... Read More »

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