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Debt Relief Industry

Former TASC Executive Director Says Legal Helpers Debt Resolution is Awesome and Will Stay the Course

Despite the growing number of lawsuits against Legal Helpers Debt Resolution they stand by their services. In a press release sent out recently they appear to believe the wave of recent lawsuits naming then is an unfair witch hunt, is political and profit-driven and damn the suits, it’s business as usual. “We are a law firm, the first truly national ... Read More »

Loan Litigation Mass Joinder Program Sales Scripts Revealed

Mass Joinder income Potential

A tipster (send in your tips here) sent me the live answer and answering machine sales scripts that were suggested for people to use when selling mortgage modification, loan litigation, mass joinder products to consumers. – Source Below you will find some of the scripts that were recommended to be used to sell consumers on mass joinder cases. Some of ... Read More »

U.S. Debt Settlement Morphing Into Financial Wellness Company

Debt Away

U.S. Debt Settlement has issued the following statement for investors. I had to chuckle when they say the are “transitioning into becoming a financial wellness company.” So does that mean they were not one before and instead caused financial illness? As I mentioned recently in “Debt Settlement Companies Poised to Eat Credit Counseling for Lunch. What a Difference a Day ... Read More »

Debt Relief Legislative Update – April 13,2010

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This legislative update comes courtesy of the National Policy Group. Be sure to visit their site for more information. California SB 708 Debt Settlement Consumer Protection Act HEARING SCHEDULED FOR APRIL 27, 2011 April 12, 2011: From Committee with author’s amendments. Read second time and amended. Re-referred to Committee on Banking & Financial Institutions Colorado HB 1206 UDMSA Amendments April ... Read More »

Elizabeth Warren Says CFPB to Spend Half of Budget on Enforcement

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This past Monday I had the pleasure of catching up with my old friend Elizabeth Warren. She was the keynote speaker at the National Association of Attorneys General meeting in Charlotte, NC. Professor Warren made it very clear that the Consumer Financial Protection Bureau (CFPB) will focus on compliance, supervision and enforcement of financial products. This includes all areas of ... Read More »

Maryland Attorney General Says Attorney Model Debt Settlement Has Not Risen to His Level

Doug Gansler, the Attorney General of Maryland told me in this recent interview I recorded at the National Attorneys General meeting in Charlotte, North Carolina that the FTC TSR had a positive impact in cleaning out the bad actors in the debt relief world and leaving the legitimate companies intact. Interestingly he said that attorney model debt settlement companies had ... Read More »

Attorney General of Colorado Tells Me There are Several Active Investigations Into Attorney Model Debt Settlement Companies

At the recent National Association of Attorneys General meeting in Charlotte I had an opportunity to talk to Attorney General John Suthers. General Suthers says attorneys should not hide behind attorney fronts and they are proceeding against attorneys since they are effectively debt relief operations. Attorney General John Suthers Interview Subscribe to Debt Interviews You can subscribe to my series ... Read More »

Humpy Wheeler and I Talk About How NASCAR Got Slammed in these Economic Tough Times

Humpy Wheeler was at the NASCAR Hall of Fame for a reception for the recent National Association of Attorneys General meeting in Charlotte, North Carolina. Mr. Wheeler has played a large role in the growth of NASCAR as the past owner of the Lowe’s Motor Speedway near Charlotte, NC. You can learn more about Humpy Wheeler here. Recently, in an ... Read More »

My Interview With Attorney General Roy Cooper from North Carolina on Attorney Model Debt Settlement

At the recent National Association of Attorneys General meeting I caught up with Attorney General Roy Cooper from North Carolina. We talk about debt relief services and the attorney model of debt settlement services. General Cooper talks about how the money paid in advance for debt relief services hurts both the consumer and the creditor. He talks about how working ... Read More »

I Interview Robert Stephan Former Attorney General of Kansas

At the recent National Association of Attorneys General meeting I had the pleasure of interviewing former Kansas Attorney General Robert Stephan who served between 1979 to 1995. We talk about how financial issues from the 1980s and today are very much the same. We talk about the problems he faced while the chief cop in Kansas. Our discussion of payday ... Read More »

Debt Settlement Companies Poised to Eat Credit Counseling for Lunch. What a Difference a Day Makes.

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It’s funny how a little thing like the FTC telemarketing sale rules can lead to change and eventually revitalize an industry. Last year I wrote and talked about how the debt settlement industry needed to expand their horizons with a combined debt management plan (DMP) and settlement approach. They could focus on settling some debts quickly, earning revenue, while parking ... Read More »

Credit Alliance Group and Credit Alliance Services Alleged to Have Not Helped Credit Rating. Hit With Class Action.

CAG Suit 1

A tipster (send in your tips here) pointed out a recent suit to me in North Carolina, Deborah Sumlin v. Credit Alliance Group and Credit Alliance Services Incorporated. The plaintiff alleges that Credit Alliance Group and Credit Alliance Services, out of Texas, were hired to provide assistance in improving, repairing or correcting credit records, credit histories and credit ratings. It ... Read More »

Lead Generation Websites Closed Following OFT Investigation in the UK

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The Office of Fair Trading in the UK, the near equivalent of the FTC here in the U.S. just announced a crackdown on financial services lead generation sites. In the UK, websites that generate leads must be licensed under the Consumer Credit Act. The sites closed by the government were: www.loansfordisabledpeople.co.uk www.samedayloansforpeopleonbenefits.co.uk www.militaryloans.org.uk www.cashloansforpeopleonbenefits.org.uk www.urgentloansbadcredit.co.uk www.cashtoday.me.uk www.cashpayday.me.uk www.debitcardinstantloans.co.uk www.cashloansunsecured.co.uk www.loansforpeoplewithbadcredit.me.uk ... Read More »

How Settlement Companies Can Maximize Income and Have Happier Clients by Teaching People How to Settle Their Own Debts

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Charles J. Phelan has been helping consumers become debt-free without bankruptcy since 1997. A former senior executive with one of the nation’s largest debt settlement firms, he is the author of the Debt Settlement Success Seminar™, an 8-hour audio-CD course that teaches consumers how to choose between debt program options based on their financial situation. The course focuses on comprehensive ... Read More »

Century Mitigations Announces Debt Settlement Getting Into Credit Counseling

Century Mitigations

This is the second time today I’ve seen the message that debt settlement companies are embracing credit counseling and going to start offering that service. The first mention was about a presentation by The Association of Settlement Companies (TASC) regarding training that was going to be offered to its members. State and Federal Compliance: How to Market and Sell Safely ... Read More »

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