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Debt Relief Industry

CareOne for California SB 708 Debt Settlement Services Act With Modifications

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I was communicating with Mike Croxson, president of CareOne, who shared his written testimony with me regarding his view of the new proposed California SB 708 Debt Settlement Services Act. His testimony stated the fee level set by SB 708 as a 15% of savings success fee was too low; consumers that contact CareOne broke down as 48% candidates for ... Read More »

Debt Settlement Business Consultant Willing to Help Debt Settlement Companies for Free

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Scott Johnson, a guy that has a great analytical mind when it comes to running a debt settlement company, has agreed to field questions and provide free advice for debt settlement companies that are looking for tips and ideas on running a debt settlement company. This is a great opportunity to ask a professional in the trenches for advice on ... Read More »

Looking Forward and Planning How to Run a Successful Debt Relief Company

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The following guest post was contributed by Scott Johnson. Scott Johnson, CEO of US Debt Resolve & USDRINC. Scott has testified at both the state and federal level, participating as a panelist for the FTC debt settlement workshop in 2008 and TSR 2009. If you would like to contribute a guest post, click here. 2012 & The 5 Year Business ... Read More »

Consolidated Litigation Support Group, Just Another Player in the Mass Joinder Mess

A tipster (send in your tips here) sent me in the documents they received after contacting a sales representative from a mailer they received. For those not familiar with Consolidated Litigation Support Group, they appeared to surface after attorney Phillip Kramer did not renew his agreement with Mass Litigation Alliance. As of March 31, 2011, contracts between Mass Litigation Alliance ... Read More »

NFCC and CCCS Should be Open and Transparent When It Comes to Performance

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For far too long credit counseling groups have remained silent about how their service actually performs. Many routinely direct consumers to nonprofit credit counselors but how effective are they? The actual performance numbers have always been a closely guarded secret. That secret has been held, not out of modesty, but out of fear that when it was reveled, fans and ... Read More »

Center for Responsible Lending Says 15% Success Fee for Debt Settlement Should Be the Norm

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The Center for Responsible Lending submitted testimony last month to the Uniform Law Commission asking them to reconsider 30% success fee caps for debt settlement services under the soon to be modified Uniform Debt Management Services Act (UDMSA) Currently the fee allowed to be charged is 30% of the amount saved by the consumer, between the original enrolled balance and ... Read More »

Latest Search Data Still Shows Falling Demand for Debt Relief Services

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A look at updated search trend data still is showing an across the board decrease in consumer generated searches for debt relief services. This post will show both historical and twelve months charts. Debt Settlement Credit Counseling Debt Consolidation Unfortunately the consumer demand for debt relief services, as gauged by proactive consumer searching continues to reflect a continued downward trend. ... Read More »

Reader Wants to Know Why Christian Credit Counseling Center is Pushing Chase Bank Call to Action Program

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A tipster (send in your tips here) sent in a comment that caught my attention: I found this interesting. it strikes a nerve to me as a bit abusive of CTA programs. Check out this company’s facebook blog. They actually solicit Chase account holders with the Call to Action carrot before even knowing who they are or if they qualify. ... Read More »

Lawyer Accuses Legal Helpers Debt Resolution of Fee Splitting with Non-Attorneys and Committing Fraud

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For some reason I am suddenly getting flooded with information regarding Legal Helpers Debt Resolution. Here is what just arrived. A tipster (send in your tips here) forwarded me a copy of a recent filing by Geraci Law in Chicago, Illinois that has filed a grievance with the office of lawyer regulation in Wisconsin. The grievance is against William K. ... Read More »

“Gullible Americans” Targeted by Canadian Call Center for Debt Settlement Services

Not too long ago I wrote about two companies, EMA Nationwide and New Life Financial Solutions. It appeared that the call center for these companies was actually located in Montreal, Canada. New Life Solutions was recruiting new sales representatives to sell consumers a service that would charge them thousands of dollars to evaluate their financial situation and then refer them ... Read More »

Vortex Debt Group Gets Consent Judgment From Missouri And Told to Stay Out of the State

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This was just released by the State of Missouri and sent to me by a tipster (send in your tips here). Jefferson City, Mo. – Attorney General Chris Koster announced today that the Florida-based debt settlement firm Vortex Debt Group, Inc., will refund fees paid by Missouri consumers and cease operating in Missouri. The Attorney General’s Office alleged Vortex Debt ... Read More »

Legal Helpers Debt Resolution Contract Review. Is This Really The Best Deal Possible?

A tipster (send in your tips here) sent in a copy of what appears to be an agreement between a consumer and Legal Helpers Debt Resolutions Services. – Source What follows are just my observations of some of the pages of this agreement. You may view the entire agreement here. Click on image for larger view. The budget looks especially ... Read More »

Tim McCallan’s Intermark Communications Slammed by FTC

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In my previous article Tim McCallan And His Nine Lives in the Debt Relief World I covered the role of Tim McCallan in Intermark Communications, which later changed their name to IMM Interactive, but still located at 135 Crossways Park Drive, Woodbury, New York 11797. The FTC took aim at a different product, other than debt relief but it moved ... Read More »

FTC Goes After Credit Repair and Debt Relief Provider and Files Civil Contempt Charges

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The Federal Trade Commission has filed contempt charges against a promoter of credit repair and debt relief services and three of his companies, alleging that they continued their deceptive marketing practices in violation of a federal court order. The FTC charged that the defendants tried to take advantage of financially strapped consumers by falsely telling them that almost anyone can ... Read More »

TASC Back At It Again. Fighting Back Against Delaware HB 72 With Fiction.

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A tipster (send in your tips here) forwarded me a copy of the April 6, 2011 correspondence by The Association of Settlement Companies (TASC) on the proposed amendment of the Delaware code relating to debt management services. The Delaware Debt Management Services Act (source) was modeled after the uniform act developed by the National Council of Commissioners on Uniform Laws ... Read More »

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