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Debt Relief Industry

FuckYourBills.com – Author = Satan. I’m Not Kidding.

Information Agent CA

I flat out love my readers. They send me the most amazing tips. Today a tipster (send in your tips here) reported in about an advertisement they saw. F..K Your Bills More bills & debt than you can pay? “F..k your bills” No need to pay. www.screwyourbills.com/prelaunch/svideo/ So of course I had to go check that out. ScrewYourBills.com is owned ... Read More »

I Love the Debt Relief Industry But Why It’s Hard to Say Good Things

Debt Block

It’s time I address a repeating criticism of this site. The claim is frequently made that somehow I am against the debt relief industry or I target it for bad publicity. The reality is nothing could be further from the truth than those statements or beliefs. “But Steve, all you say are bad things.” Well that’s not quite true. I’m ... Read More »

Cambridge Credit Counseling Releases Latest Performance Report

Loss of Income

Cambridge credit counseling has release it’s latest performance report showing the effectiveness of their program. This group was the very first credit counseling organization to actually release information that described the effectiveness of the credit counseling solution in order for consumer to make a good informed decision before joining. Cambridge believes that the unfiltered reporting of performance and satisfaction data ... Read More »

Tax Defense Network Former VP – Mugshot

Dwayne Harmon

A tipster (send in your tips here) is checking in today with an update regarding the Tax Defense Network that I previously wrote about in Tax Defense Network and Interesting Past Worth Knowing. According to news reports, Dwayne Harmon, 42, former Vice President of Marketing for Jacksonville-based Tax Defense Network, was charged with four felonies: organized fraud of $50,000 or ... Read More »

CCCS Now Offered by IAPDA as an Additional Certification

A tipster (send in your tips here) told me that the International Association of Professional Debt Arbitrators is now offering a competency certification called the Certified Credit Counseling Specialist (CCCS). This new training module is available to current members for no additional cost. We have also evolved by offering a complete debt relief education to our members and a second ... Read More »

Does Credit Counseling Have a Fiduciary Duty to Mention Ethical Debt Settlement to Consumers?

Fiduciary

Yesterday a commenter on my article Dear Credit Counselors, You Are Your Own Worst Enemy made a very interesting comment that raises a number of questions. The comments had been flowing between what appeared to be people from credit counseling and debt settlement when the issue was raised that credit counseling groups should have a fiduciary duty to the people ... Read More »

American Consumer Credit Counseling Makes Some Interesting Marketing Claims

Consumer Credit Counseling and Debt Consolidation Services from American Consumer Credit Counseling (20110627)

A reader and tipster (send in your tips here) sent in some concern about the American Consumer Credit Counseling website that they wanted us to see. In light of the Federal Trade Commission Telemarketing Sales Rules that prohibit a number of misleading advertising practices, it is surprising that American Consumer Credit Counseling is making the following statements on their landing ... Read More »

Morgan Drexen Virginia Lawsuit Update

Recently I covered a lawsuit filed against Morgan Drexen in Virginia, Morgan Drexen Sued in Virginia. Called Parasitic. Allegedly Violated Credit Counseling Act., Sykes v. Morgan Drexen 2:11-cv-00024-JPJ -PMS. Morgan Drexen had responded and said the case should be tossed out. But in the response by the Plaintiff’s attorney I spotted an interesting development way back in the pages of ... Read More »

EFA Processing, New Leaf Debt, Neil Ruther and Consumer Law Associates Sued in Kansas

Thanks to great readers and tipster (send in your tips here)s I just found out about Hays v. Consumer Law Associates, Neil Ruther, New Leaf Debt and EFA Processing. The suit goes after the defendants for violations of the Kansas Credit Services Organization Act, Kansas Consumer Protection Act, and conspiracy. The suit alleges the following facts. On September 23, 2009, ... Read More »

BBB Concerned Over Questionable Morgan Drexen Television Commercial

Back in May I wrote about a Morgan Drexen television commercial that caught my eye. See Morgan Drexen Running TV Commercial for Debt Settlement Clients. Says It Is Exempt from FTC Rules. Well a tipster (send in your tips here) just brought to my attention that the BBB evidently took exception to the same or a similar commercial. The BBB ... Read More »

Lloyd Ward, Lloyd Ward & Associates, Debt RX USA, and Silverleaf Debt Solutions Hit With Employee Suit

justball-144x125

On June 13, 2011 Sabrina Bermudez filed suit against Lloyd Ward, Lloyd Ward & Associates, Debt RX USA, and Silverleaf Debt Solutions. The class action suit alleges the defendants did not pay proper wages for time worked. The suit alleges the following facts. Defendants specialize in selling and/or providing a variety of debt solution products and services, including debt settlement ... Read More »

Global Client Solutions, Clear Your Debt, Orion Processing, Derin Scott, Shannon Scott and Pradeep Nair Hit With Lawsuit

On June 17, 2011 the following case was filed, Jalenna Bowie v. Clear Your Debt, Global Client Solutions, Orion Processing, Derin Scott, Shannon Scott, and Pradeep Nair. The case goes after the debt relief providers for violating the Credit Repair Organizations Act, violations of the Ohio debt adjusting statutes, violation of the Ohio Consumer Sales Practices Act, violation of the ... Read More »

AICCCA Credit Counseling Conference to be Held at the Four Seasons Hotel

justball-144x125

The Association of Independent Consumer Credit Counseling Agencies (AICCCA) has their annual conference coming up in Washington, DC if anyone wants to attend. It’s July 20-22 at the flippin’ Four Seasons Hotel in D.C. Seriously, charitable dollars are being spent to hold a non-profit meeting at the luxury Four Seasons Hotel? And on top of just the public relations nightmare ... Read More »

Debt Relief industry Trends, June, 2011 – Credit Counseling, Debt Settlement, Bankruptcy

Credit Counseling June 2011

In what has turned into a regular report from this site, here is the next installment in my forecast for the debt relief industry. The extension of consumer credit remains weak. Delinquencies and defaults are dropping and sometimes, as Discover announced recently, to historic lows. Credit Counseling Demand Sources inside credit counseling are reporting continued declines in new debt management ... Read More »

Consumers Demonstrate Less Need for Debt Relief Services

justball-144x125

TransUnion just release new data which shows their Credit Risk Index (CRI) continues to decline. The CRI is a forecast tool that shows the likely chances of a consumer not being able to repay their debt. For the first quarter of 2011, the CRI came in at 123.56 – approximately 5 percent lower than the index high of 129.67 (Q4 ... Read More »

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