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Debt Relief Industry

Elimadebt Player Comes Back Around in FTC Settlement With First Universal Lending

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David Feingold, a lawyer out of Florida, who I first reported about in relation to Elimadebt, has surfaced again as part of a reported FTC $18.8 million settlement regarding his actions in the loan modification business. The Balm Beach Post is reporting that David J. Feingold, Sean Zauser, and David Zauser have agreed to pay back $18.8 million which will ... Read More »

Johnson Law Group Florida Gets Permission to Make Client Payments Under Supervision

The Florida Bar had recently gone after attorney Clint Johnson of the Johnson Law Group for irregularities in his law firm trust account. In fact Attorney Johnson had his law license suspended. You can catch up by reading this article. When I wrote that last article the court still had a freeze on all of Johnson’s trust accounts, including those ... Read More »

Global Client Solutions Named in Yet Another Case. This Time With Alliance8, Freedom Financial Management, Richard Lenard.

The cases keep on coming against Global Client Solutions. Here is one I just spotted that had been previously filed in state court but was just moved to federal court on May 6, 2011. Mary Lord v. Alliance 8, Freedom Financial Management, Global Client Solutions, Rocky Mountain Bank & Trust, and Richard Lenard. It appears the move was brought about ... Read More »

CCCS of Greater Atlanta Sues CreditAbility

CreditAbility

On May 25, 2011, Consumer Credit COunseling Service of Greater Atlanta filed suit against a debt relief company in Iowa named CreditAbility. It seems CCCS of Greater Atlanta, who goes by the name CredAbility took exception to the similarly named debt relief provider, CreditAbility. In July 2005 CCCS of Greater Atlanta filed a trademark application for the mark CredAbility. They ... Read More »

Fake Testimonials Nail Company. FTC Watching.

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And here is why debt relief websites should not use fake consumer testimonials. This just out today from the FTC. Get Out of Debt Guy – Twitter, G+, Facebook The Federal Trade Commission has charged Russell Dalbey, the CEO and founder of the company behind the “wealth-building” program “Winning in the Cash Flow Business,” with defrauding consumers, in some cases ... Read More »

Get Free PR and Free Targeted Marketing By Helping Others

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One issue I’ve always found ironic is that while some debt relief companies attack some of my debt industry articles the debt relief community at large does not help consumers through the GetOutOfDebt.org site. Critical, but not helpful, interesting. I’ve been curious why companies that purport to assist consumers in trouble are not offering advice, and assistance in the comments ... Read More »

Morgan Drexen Running TV Commercial for Debt Settlement Clients. Says It Is Exempt from FTC Rules.

So what is the truth about Mogan Drexen? On one hand they claim, as was stated in the recent West Virginia Attorney General suit about them to “merely provide paralegal services to lawyers engaged in debt settlement activities on behalf of clients.” Even their own website says: Morgan Drexen provides integrated legal software and paralegal services to attorneys across America. ... Read More »

Put a Fork in P & E Solutions, Vertexsoft Corporation, and Safe Trust Financial.

The bankruptcy trustee in the Chapter 11 bankruptcy cases involving Safe Trust Financial, P & E Solutions and Vertexsoft Corporation requested an emergency motion on May 19, 2011 to seize the companies and convert the bankruptcy filings to a terminal Chapter 7 case. Unfortunately this almost guarantees the clients of those debt relief companies, as creditors’, will receive little in ... Read More »

Century Negotiations, David Leuthold, Freedom Debt Relief, Fast Track Debt Relief and Debt Shield all Named in Class Action

On May 24, 2011 a State of Washington class action case was moved to federal court by Fast Track Debt Relief. The case, Rule v. Century Negotiations, David Leuthold, Freedom Debt Relief, Fast Track Debt Relief and Debt Shield was filed by Paul Lawrence of Pacifica Law Group in Seattle, Washington and Richard Epstein, Esq. of Greenspoon Marder. It looks ... Read More »

Debt Relief Compliance Tracking Software – First Look. Sweet!

USDR

I’m fortunate enough to have been selected as an alpha tester for the new debt relief software by USDR. Granted it’s early days on the rollout but I had to share with you what I’ve seen so far. There are still more modules to implement but the software makes it VERY easy for any debt relief company to track a ... Read More »

Company Claiming to Reduce Credit Card Interest Rates – Shuttered by FTC

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The FTC has settled two actions that charged marketers with deceptively claiming they could reduce consumers’ credit card interest rates. Both operations allegedly made deceptive telemarketing calls, called consumers on the Do Not Call Registry, and used illegal robocalls. The settlements will ban all of the defendants from selling debt relief services. Advanced Management Services The FTC charged that Advanced ... Read More »

Veritas Assurance Group Announces Full Legal Protection to All Consumers in Any Debt Settlement Program. No Need for an Attorney Debt Settlement Company Anymore.

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This is finally public and it might be a great asset to all performance based debt settlement companies that would like to provide legal protection to their clients. It’s a big advantage for consumers since they can now get access to legal protection while in a debt settlement plan without having to pay an attorney firm all those advanced fees ... Read More »

Loan Modification Lawyers Disbarred. Christian Lawyers of America, Anything But.

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A tipster (send in your tips here) sent in a notice about an even that happened earlier this year but the story struck me so much I wanted to share it with you anyway. It’s a good example of what happens to lawyers who lose control of their professional ethics and allow the sale to become more important than their ... Read More »

Credit Counseling Requests Way Down. Funding Cut.

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A couple of articles today painted an interesting picture of the challenges credit counselors are facing and the declining demand for their services. According to the National Foundation for Credit Counseling (NFCC), the number of consumers seeking help has dropped twenty percent from 2009 to 2010. This has NFCC scratching their head especially when the CARD Act required lenders to ... Read More »

Who is Florida Debt Resolve? Reader Wants to Know.

Today I received and email from a reader and tipster (send in your tips here) who wanted more information about Florida Debt Resolve. It seems the reader had noticed a press release sent out today by Florida Debt Resolve regarding their iPhone app. In an effort to serve their clients more effectively and efficiently, Florida Debt Resolve has launched a ... Read More »

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