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Tag Archives: AFCC

CRL Report Results in Silence From the Debt Relief Industry

Lowering Coffin

The other day I published the debt settlement recommendation report from The Center for Responsible Lending (CRL), click here. As vocal as critics have been in attacking this site and myself for being outspoken about consumer unfriendly debt relief practices I felt certain people would have comments to offer about the CRL recommendations. But silence, except for one commenter. Some ... Read More »

CRL Comes Out With Debt Settlement Warning. Is it Fair?

Big Scam Dog

The Center for Responsible Lending just released a paper on debt settlement. Take a look at the information they published and add your comment below if you think their research is on the mark or way off base. It appears CRL relied upon data published by the American Fair Credit Council in making their determinations on effectiveness. CRL even thanks ... Read More »

Reader Want to Know if Performance Settlement Recruitment / Sales Claims are True

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A reader and tipster (send in your tips here) in the debt settlement industry sent us an email they recently received from Performance Settlement, an AFCC member. The email made some recruiting performance claims that should be a snap for Performance Settlement to respond to and verify. This issue isn’t so much a consumer issue foremost but an issue to ... Read More »

AFCC Takes Some Action and Suspends Mission Settlement Agency

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Yesterday I wrote an article that was critical of the AFCC for their lack of action against Mission Settlement Agency and Rescue One. I have to give them a pat on the back for doing something this time. The AFCC has taken a little bit of action and suspended Mission Settlement Agency as a member. In my opinion they should ... Read More »

AFCC Current Member Criminally Charged in Debt Settlement Fraudulent Scheme

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In what must certainly be a terrible embarrassment for the American Fair Credit Council, AFCC, one of their members was criminally indicted today by the Manhattan U.S. Attorney. According to documents released today, Mission Settlement Agency, Michael Levitis, and employees Denis Kurlyand, Boris Schulman, and Manuel Cruz have been criminally indicted for misrepresenting debt settlement to consumers and engaging in ... Read More »

AFCC Releases Report Praising Debt Settlement But There Are Big Holes

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The American Fair credit Council (AFCC) recently released a couple of documents they hoped would persuade people about the value of debt settlement. I was asked to review the findings in the documents and offer my opinion. The first presentation is one that was supposedly given to the Federal Trade Commission and Consumer Financial Protection Bureau, at least judging from ... Read More »

Debt Settlement Targets Ohio, Nearly Half Want to Skip Christmas, NY AG Sues Bank

news1

Debt settlement companies lobbying Ohio for entry into the state Companies that charge up-front fees for working with consumers to settle tens of thousands of dollars in credit-card debt are pushing for a bill in the lame duck legislative session that would allow them to operate in Ohio. The “debt settlement” industry has been advocating for legislation in Ohio for ... Read More »

Rescue One Financial Still Sending Disturbing Mailer

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Previously an alleged former employee of Rescue One Financial spoke out about a marketing practice that concerned them. See Alleged Former Employee Speaks Out About Rescue One Financial Loan Offers I expressed concern to both Freedom Debt Relief, who was getting referrals from this, and Rescue One Financial about the marketing mailer and specifically asked both for evidence Rescue One ... Read More »

AFCC Just as Peeved About Uninformed DOJ Position on Debt Settlement

On August 16th I wrote about a Department of Justice blog post about debt settlement that was, let’s politically say, perplexing. Ah what the hell, it was just plain old fucked up. The Department of Justice made some very uninformed statements about debt settlement, like “Fraudulent debt relief companies will often make claims of being able to negotiate a one-time ... Read More »

Alleged Former Employee Speaks Out About Rescue One Financial Loan Offers

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A reader sent me a letter. Yes, one of those things that is printed on paper. In this letter the reader says they worked for Rescue One Financial and wanted to share information. The allegations made by the reader are disturbing. And if true, in my opinion, would paint a picture of premeditated deception on part of the debt relief ... Read More »

AFCC Member 1st Financial Center Allegedly Sends Out Deceptive Advertisement. Consumer Calls AFCC Mailer Misleading.

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A reader just sent me a tip about a mailer they just received. The reader said, “Just wanted to forward you the attached mailing I received from American Fair Credit Council that I found to be appallingly misleading.” The message really caught my eye. For those of us familiar with the American Fair Credit Counsel (AFCC) we recognize it as ... Read More »

Is DebtConsolidation.com Smoking Dope?

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A company called DebtConsolidation.com just put out a press release making some rather odd statements. They claim they are “a leading information and referral source for debt management and credit counseling” but seem to be instead providing misinformation instead. The reader who sent this to me was most upset by the statement they make, “”There is no signup fee for ... Read More »

American Fair Credit Council Given a Chance as Consumer Advocates – FAIL

This is the story I wasn’t going to write. It’s been mulling about in my head for a few days but now it just has me irritated. A little history first. Back in May, TASC, The Association of Settlement Companies, announced they were changing their name and organization to the American Fair Credit Council (AFCC). Part of this effort was ... Read More »

AFCC -35, TASC – 41. Lost in Translation? Bermuda Triangle of Debt?

A reader sent in an interesting question. They wanted to know why if TASC (The Association of Settlement Companies) changed their name to AFCC (American Fair Credit Council) then why did TASC report having 41 members and AFCC only reports 35. – Source Good question. What’s interesting about the AFCC membership list is that it is broken into accredited members ... Read More »

The Wild Ride in Debt Relief – Andrew Housser

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The following guest post was contributed by Andrew Houser. Andrew Housser is co-founder and co-CEO of Freedom Financial Network, LLC, the parent of Freedom Debt Relief, which has settled over $1 billion in debt for its customers in the past 8 years. He sits on the executive board of the American Fair Credit Council (formerly TASC), a position he has ... Read More »

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