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Debt Relief Industry

Credit Counseling Capitalizes on Debt Settlement Mess With This Commercial

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A great video example of why the debt settlement industry implosion with upfront fees and trawler nets full of unhappy consumers plays right into the hands of credit counseling agencies. The commercial seems to use real examples of debt settlement horror stories to sell credit counseling services. Get Out of Debt Guy – Twitter, G+, Facebook I can always use ... Read More »

Debt Settlement and Debt Negotiation Services a Growing Problem in the Czech Republic

Thanks to an awesome tipster (send in your tips here) we have the story below. Keep the tips coming. Czech Radio is reporting that debt settlement services in the Czech Republic have become a big enough problem that People in Need is speaking out against them to help protect consumers. When you listen to the report below by Czech Radio ... Read More »

U.S. Debt Settlement US4.DE Stock Holders Should Be Inquisitive About This

A debt settlement company located in the U.S. which is publicly traded on the Frankfurt, Germany stock exchange, U.S. Debt Settlement (US4.DE), and also a TASC member, issued a statement yesterday, below, regarding their company performance that will be read by investors. What I found odd was that in the outlook for the future it appears to not inform investors ... Read More »

Disbarred Kentucky Attorney Bruce Atherton Accused of Offering Illegal Debt Relief Services by Attorney General. He’s Already Headed to Jail.

Indiana went after attorney Bruce Atherton of Kentucky and issued the statement below. As I remember, Bruce Atherton was behind Bruce Atherton and Associates in Kentucky that sold attorney based debt settlement services. A tipster (send in your tips here) told me he was also the guy behind Debt Restructuring of America (source) and My Choice Debt Management. Indiana Attorney ... Read More »

So USOBA, Is The Premier Debt Solvers Site Deceptive?

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A tipster (send in your tips here) sent me in an example of a USOBA web site that uses a President Obama video on their site in an apparent attempt to bolster their message. My question is if the use of the video violates the new USOBA Zero Tolerance policy for deceptive marketing. According to the way I read their ... Read More »

You Can Be Instantly Sued When Your Debt Settlement Company Contacts the Debt Collector

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NCO Group, a huge debt collection company recently provided an opinion about debt settlement services. Of primary interest to me was the statement from NCO that they are under instructions from their creditor clients that when a consumer tells NCO they have signed-up with a debt settlement company that NCO should refer the consumer account to the legal department for ... Read More »

Consumers Union to FTC – No Fees Till Debt Fully Settled

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From the FTC comes a record of this discussion where Consumers Union makes the point that under the proposed FTC advanced fee ban debt settlement companies should not be allowed to collect any fee for settling the debt until the debt is fully settled. She does raise some excellent points. “On July 9, 2010, Gail Hillebrand, the Financial Services Campaign ... Read More »

Eagle One Debt Solutions – Reps Needed – Best Compensation for Closing Debt Settlement Leads

Eagle One Debt Solutions Help Wanted

A tipster (send in your tips here) sent in the following ad Eagle one Debt Solutions is running. Eagle One Debt Solutions claims they are a proud member of TASC, IAPDA, and Global Client Solutions. – Source What is interesting about the help wanted advertisement is you’ll notice it is not focused on providing best advice to consumers in trouble, ... Read More »

USOBA Says Don’t Cross This Line or We’ll Suspend You

USOBA Zero Tolerence Policy

The United States Organization for Bankruptcy Alternatives (USOBA) has just issued a press release about their new Zero Tolerance policy for members who engage in deceptive marketing. Yea, that would be the exact deceptive marketing I covered in Examples of Deceptive Official Marketing Sent Out By Debt Settlement Companies to Trick Consumers. Some are Members of TASC & USOBA. The ... Read More »

It’s What Morgan Drexen Doesn’t Say That’s Most Interesting

Debt settlement service provider/firm/whatever they are, Morgan Drexen issued the following press release in support of the FTC advance fee ban for debt settlement companies. Morgan Drexen Applauds the Regulatory Reform Bill The Financial Regulatory Reform Bill is Already Facing Criticism, Morgan Drexen President Steph Nagin Applauds the Reform Bill — This Will Help to Afford Consumers the Protection They ... Read More »

Debt Settlement Does Not Need to Be Closed Down. It Needs to Be Cleaned Up. – Podcast

Dinosaur

I had a very interesting conversation with a debt settlement insider that mentioned how many debt settlement companies he talks to that hate me for what I write. Yea, I’m not losing sleep over that. I made the following podcast of this article so you could enjoy it with background music. Debt Settlement Does Not Need to Be Closed Down. ... Read More »

Abusive Debt Collector Accused of Bankruptcy Fraud : When The Collector Becomes the Collected

Over the years Jack H. Boyajian, a seasoned debt collector, has faced accusations from authorities across the U.S. for “illegal methods to squeeze debtors”. This year a new accusation arose against Boyajian after he filed for bankruptcy in August of 2009, that he has defrauded creditors by concealing assets from the court. The Federal Government says he owes around $670,000 ... Read More »

Morgan Drexen Debt Settlement Company Uses BP Oil Spill to Sell and Promote Their Services

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What do you think, is this video from Morgan Drexen and attorney Stephen Nagin capitalizing on the personal and economic disaster of the BP oil spill to try to sell attorney based debt settlement services? Comment. Discuss. Get Out of Debt Guy – Twitter, G+, Facebook I can always use your help. If you have a tip or information you ... Read More »

Auto Loan Modification Companies The Next Target to Become a Freaking Mess for Consumers

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Previously I wrote about the automobile loan modification group, Auto Relief Group. I had said: Lately I’ve noticed more advertisements and mentions of auto loan modifications or truck loan modifications in what appears to be an effort into charging consumers for a service to help them lower their car payments and avoid repossession. Unilateral loan adjustments or reductions are tough, ... Read More »

Debt Settlement More Popular Since Obama Passed The Credit Card Act or How to Make Stuff Up to Sell Debt Settlement

How It Works

Here is a video of a guy that is selling debt settlement services that includes ESP software. [flashvideo file=/wp-content/uploads/DebtCollectorAffiliates.flv /] His initial assertion is that debt settlement is a new solution that has emerged in the last year and a half. The video is a classic example of what consumers are being told about why they should buy in to ... Read More »

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