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Debt Relief Industry

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…

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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 »

Florida Attorney Thomas Dvorak Suspended for Mortgage Modification Complaints

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Thomas W. Dvorak, 633 S. Andrews Ave., Suite 402, Fort Lauderdale, suspended for one year, effective 30 days from a June 24 court order. (Admitted to practice: 2002) Dvorak will also pay restitution of more than $127,500 to clients. Dvorak was the subject of more than 45 Bar complaints — most having to do with mortgage loan modifications. After being ... Read More »

USOBA Members Dropping Like Flies

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I’d love to write more about this subject if Jenna Keehnen, the executive director of USOBA would ever return emails. Can you tell I’m a bit frustrated. In fact, let me rant for a moment. You want to know what the hardest part about writing stories on debt relief companies is, it is getting them to responsed to questions or ... Read More »

Bella Financial to Mountain View Financial Group. What is Going On?

Previously I reported that Bella Financial, that had been providing debt settlement services as Debt By Debt Settlement Services, had gone bankrupt and closed down. There is more to the story coming to light. The other day a commenter posted this on the site about Bella Financial: I am very embarrassed and angry at my situation. I am hoping that ... Read More »

Debt Settlement Company Says “Enough is Enough” and Works Hard to Comply With FTC.

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With permission I am posting the following from an email I received from a debt settlement company I have written about on this site. The company in question does not want to be identified but they have allowed me to share their “turning point” moment that made them realize that FTC TSR compliance is the best way to go. They ... Read More »

Loeb & Loeb Law Firm Issues Guidance to Debt Settlement Companies Looking at FTC Loopholes

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Since the Federal Trade Commission telemarketing sales rules (“TSR”) were released I’ve written about a number of claims and assertions debt settlement companies have made to continue business as usual. We’ve heard all sorts of strategies that companies claim are legal, loopholes or not covered by new regulations going into effect on September 27, 2010. The law firm of Loeb ... Read More »

Debt Settlement Marketers Still Selling Debt Leads

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Interesting little email from a tipster (send in your tips here). It comes from a debt settlement lead seller. Apparently this lead seller is not too worried about complying with the new FTC telemarketing sales rules and making sure their customers are compliant. They say, “Through a number of conversations I’ve had with both debt companies and attorneys, it looks ... Read More »

John Ansbach Leaving USOBA Says Tipster

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A tipster (send in your tips here) just sent this in. “Jon Ansbach is leaving USOBA to be general counsel/lobbyist for MADD (Mothers Against Drunk Driving).” I reached out to USOBA for a confirmation but at the time of this publication I had not heard back from them. Get Out of Debt Guy – Twitter, G+, Facebook I can always ... Read More »

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