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Debt Relief Industry

Conference Call By DSR Financial Proclaims Attorney Model Debt Settlement is Exempt

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This just in. Apparently there was a conference call that ended a few minutes ago by DSR Financial with Tami Brown as the speaker that was promoting how attorney model debt settlement services were exempt from the new Federal Trade Commission rules. Haven’t we already debunked that myth? A tipster (send in your tips here) sent in the following notes ... Read More »

Trying to Get Around Debt Settlement Rules By Calling Advanced Fee a Retainer. Not So Fast Bucko.

Retainer to Beat Advnace Fee

One of the rumors I’ve heard lately is from some debt settlement companies that claim they are going to get around the ban on advance fees, starting October 27, 2010, for debt settlement by calling the fee they will ask for, a retainer. The argument goes something like this. “But because I’m an affiliate of an attorney I can charge ... Read More »

Has New Horizons Debt Relief Closed? – Debbye

New Horizons Debt Relief

“Dear Steve, We ran up our credit cards about 3 years ago when my husband got laid off & had to take a job paying $10.00 an hour. One of our daughters has a life threatening illness & I couldn’t work outside the home full time. We contacted New Horizons Debt Relief out of Southern California & to settle with ... Read More »

It’s Official. You Can Say Anything You Want in a Press Release.

Innovative Wealth Builders

Innovative Wealth Builders, a company with a long record of leaving unhappy customers in its wake (here, here, and here) has just posted an article claiming they are “a watchdog for consumers.” What strikes me is that along with the many complaints this company has received is also this comment posted by someone that identified themselves as a former employee. ... Read More »

Northeast Settlement Group Places Client Service Agreements Online

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I have to tip my hat to Andy Faria of Northeast Settlement Group for placing his client agreements online for consumers to see before they enroll. I’ve always wondered why more companies don’t do that. My opinion is they should. Back in my old credit counseling days we placed all the agreements for services online for everyone, including regulators, to ... Read More »

Nationwide Debt Settlement Says Many Debt Settlement Companies Will Shutter

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From the Phoenix Business Journal. Many of the debt-relief companies that charge up-front fees to consumers likely will go out of business, said Sarah Leineke, co-owner of Phoenix-based Nationwide Debt Settlement. “All those bad guys are going down now,” she said. “A lot of these companies pay themselves first, so it will shut them down now. It’s not going to ... Read More »

Debt Settlement Company Says Refunds Should Be Made to Consumers

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Here is a press release that is going out. All I’ve got to say about it is Yippie Oak View for taking a stand that consumers deserve fair refunds. It is certainly a better approach that those companies that tell people “too bad, so sad” and then don’t give a refund even though they have not done much, if any, ... Read More »

Credit Solutions and Florida. Two Sides of The Same Story

Here is a great example of two sides of the same event. First from the Florida Attorney General, and then from Credit Solutions. Which side do you think was victorious? Get Out of Debt Guy – Twitter, G+, Facebook Florida Attorney General Press Release Attorney General Obtains Injunction Against Debt Settlement Company ~ Credit Solutions’ unfair fees prohibited by temporary ... Read More »

Credit Exchange Hit With $16.4 Million Judgment

Things are all of a sudden not looking so good for Debt Settlement marketers that were involved with the failed debt settlement, contract validation, and debt reduction services company known most commonly as Hess-Kennedy. On July 28, 2010 Steve Vanderhoof and the Credit Exchange were hit with a $16,388,820 judgment for their marketing and services they delivered to Laura Hess ... Read More »

USOBA Sends Out Message to Members. Beware of Loopholes.

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An amazing tipster (send in your tips here) just sent me an email that USOBA sent out this morning to members. I’ll let you be the judge but I think the email indicates USOBA has finally thrown in the towel on the Federal Trade Commission Telemarketing Sales Rules battle. If we can take the email at face value, it really ... Read More »

Debtmerica Launches It’s New Performance 100 Program to Comply With FTC TSR. But…

Debtmerica Graphic

So this morning I open up the press release from Debtmerica and I was elated to see yet another debt settlement company come out and support the FTC TSR. But when I scrolled down to the bottom of the release, what do I see, but an embedded look at the top of their website with language that the FTC TSR ... Read More »

CareOne Sends Notice to NFCC That They Should Comply With FTC Rules

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Here is a copy of the letter that CareOne sent to the National Foundation for Credit Counseling yesterday asking them to comply with the new FTC telemarketing sales rules. Apparently both ACCPros and AICCCA received the same letter. August 31, 2010 Susan C. Keating President and CEO National Foundation for Credit Counseling 801 Roeder Road, Suite 900 Silver Spring, MD ... Read More »

Will We Still Have a Job in Debt Settlement?

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“Dear Steve, I’m many of the employees that have recently found themselves wondering what is going to happened to my job at the end of September. I work for a company called [ ] and their back end is serviced by Legal Helpers Debt Resolution or Eclipse (Not sure what the relationship is there). Our boss recently told us that ... Read More »

Clean Credit Report Services Loses Big to FTC

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A credit repair operation has agreed to stop making false claims and stop charging up-front fees under a settlement with the Federal Trade Commission. The settlement is part of an ongoing crackdown on scams that target financially strapped consumers, in this case taking hundreds of dollars in fees to purportedly remove negative information from consumers’ credit reports even if the ... Read More »

Doug Van Arsdale of Credit Solutions of America Loses Awesome Football Season Tickets to IRS

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Tipsters have been sending in information about a rumor that Credit Solutions of America CEO just had the IRS seize and sell Dallas Cowboy season tickets he was using to make a little dent in the $4.5 million owed by his other company, Lending.com, to the Internal Revenue Service. The Dallas Morning News is reporting the prime seating tickets sold ... Read More »

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