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Tag Archives: Attorney Model

FTC Speaks Out a Bit More on Attorney Model Debt Settlement

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In an article that appeared this morning on CNN, Evan Zullow from the FTC is quoted as saying: Evan Zullow, an attorney in the FTC’s division of financial practices, said he’s aware that companies are looking for loopholes. The FTC, he said, is closely monitoring the industry to make “sure that what they’re doing actually meets the exception.” Simply hiring ... Read More »

Green Attorney is Looking for Debt Relief Business Advice. – L

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“Dear Steve, I’m a newly admitted “green state” attorney and have been doing loan modifications and settlements for over a year now for clients who come to me based on referrals. I absolutely love your site and have been going through all of the material related to the debt settlement industry and the new regulations for weeks now. I have ... 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 »

New Mailer Promoting Attorney Model Debt Settlement for FTC TSR

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Thanks to a tipster (send in your tips here), here is the latest email that is being sent around promoting an attorney model to deal with the FTC TSR rules. It is not clear from the mailer if this is simply an advertisement to help debt settlement companies comply with the new rules or providing a solution they think will ... Read More »

A COMPLIANT DEBT SETTLEMENT MODEL THAT CAN KEEP YOU IN BUSINESS

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I was not going to publish this email but now that I’ve received it from four different people I’m going to post a redacted version of it. This must have been sent to a large audience since so many are sending it to me. More attorney model silliness — FTC Final Rule. A COMPLIANT DEBT SETTLEMENT MODEL THAT CAN KEEP ... Read More »

Mike Croxson from CareOne and I Talk About The New FTC Rules, Attorney Model Debt Settlement and the Lack of Clarity in Credit Counseling

Mike Croxson, the president of CareOne, a provider of debt settlement and debt management plans, and I chat about current events in the debt relief world. Some of the issues Mike and I talk about: Where are the loopholes from the Federal Trade Commission telemarketing sales rules. What is the endgame to chasing loopholes. The access to attorneys for debt ... Read More »

Debt Settlement Frederick Law Group, Attorney Disbarred, Jailed, and Now Broke

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Former Maryland attorney Richard Brennan, doing business as the Frederick Law Group and The Law Office of Richard A Brennan, has just been hit with a $2.7 million dollar judgment in an attempt to collect money due clients of his debt settlement law firm. Brennan has been disbarred, jailed and is now without a job, all as a result of ... Read More »

Norton & Associates, New Debt Settlement Law Firm, Pitched as a Legal Alternative to the Advance Fee Ban

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An interesting email went out yesterday introducing yet another entrant into the arena, a law firm, to sell debt relief services for/with. The subject line of the email read “A Legal Alternative to the Advance Fee Ban.” When I inquired with the law firm representative for clarification and additional information for this story I was advised to “cease and desist” ... Read More »

Mailer From Lender Results in Referral to Debt Settlement Company Legal Helpers Debt Resolution

Thanks to an awesome tip, I received a mailer that is being sent out. This one was received by a Pennsylvania resident. The mailer was sent out using a West Palm Beach, Florida mailing permit but it appears to come from a company called NFM, Inc. NFM was identified as NFM Lending. Apparently their name used to be National Fidelity ... Read More »

ABC Debt Relief, The Debt Answer, Lloyd Ward & Associates, and Lloyd Regner Sued By Employees

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A recent legal case has brought some very interesting information to light from inside a debt settlement company and the alleged attorney debt settlement firm. On July 8, 2010, employee, Chris Onorato, filed a lawsuit against ABC Debt Relief, The Debt Answer, Lloyd Ward, PC. Lloyd Ward & Associates, and Lloyd Regner (3:10-cv-0132). The allegations made are: Plaintiff is employed ... Read More »

Listen to the Lies This Marketing Company Tells Consumers to Sell Attorney Based Debt Settlement Services

I’ve previously written about the attorney model debt settlement firm approach that some debt settlement companies are rushing towards in an effort to circumvent any fee ban that may be put in place. The logic is that attorneys are exempt from most laws so if an attorney is doing debt settlement then it must be okay to do. The reality ... Read More »

Court Finds Four Problems With Attorney Model Debt Settlement Firm Allegro Law

Keith “Andy” Nelms was a lawyer, before he was disbarred, that ran a debt settlement company that outsourced much of it’s debt settlement back office work to a non-attorney company, Americorp, which I’ve written about before. I’ll paste the entire court memorandum here and put my comments in [ ]. MEMORANDUM DECISION WILLIAM R. SAWYER, Bankruptcy Judge These related cases ... Read More »

The Debt Settlement Attorney Model Podcast

This week the podcast with Damon Day focused primarily on the attorney model in debt settlement and the problems associated with that. Here are some of the articles that relate to issues we talked about in the podcast. The Critical Flaw in The Attorney Model for Debt Settlement Mosler Law Firm and SFC State Capital Financial Kicked Out of Vermont ... Read More »

Mossler Law Firm and SFC State Capital Financial Kicked Out of Vermont for Debt Settlement Services

The release below from the Vermont Attorney General seems to support the points I raised in my recent article, The Critical Flaw in The Attorney Model for Debt Settlement. One of the debt settlement entities below that got the attention of the State of Vermont was a law firm. So much for attorneys getting to disregard the law. The Mossler ... Read More »

The Critical Flaw in The Attorney Model for Debt Settlement

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It seems in the face of proposed regulation over the debt settlement industry many debt settlement companies are running for the hills and trying to convert their business into one of the many attorney models out there in order to continue their advance fee approach. The companies who are running for the attorney model cover seem to feel it will ... Read More »

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