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Tag Archives: credit answers

Credit Answers Settles With Colorado

law books

With receipt of $225,000, the state has resolved a case in which 615 Coloradans were financially harmed by a Texas-based debt-settlement company that was operating illegally in Colorado. The Consumer Protection Section of the Attorney General’s Office has entered a stipulation and final agency order with the now defunct CreditAnswers and its Chief Executive Officer William Loughborough (D.O.B. 11/02/62). “When ... Read More »

American Debt Mediators Scares Woman

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“Dear Steve, She has been scammed, and it is affecting her health. I sometimes wish I hadn’t said anything to her. Please advise me how to help her. I have worked in small claims court and have a feel for the process. But I told her this was a scam and now she is scared to death. I need to ... Read More »

American Debt Mediators Debt Relief Offer, Reviewed

ADM

A reader sent in a copy of a mailer they got from American Debt Mediators. They said ADM is allegedly charging the first three months in fees. If true it looks like American Debt Mediators is using an attempted catalog by mail loophole to avoid the Telemarketing Sales Rules. The letter appears to be an offer for debt settlement services ... Read More »

Indiana Going After or Looking at a Number of Debt Relief Companies

According to the Office of the Attorney General of Indiana, they are going after a number of debt relief companies and have filed recent suits. The Attorney General’s Office filed lawsuits against: Consumer Credit Group of Florida and Proactive Planning Solutions of Arizona for violating Indiana’s Do Not Call Law and Auto-Dialer Act known as the robo-call law. Both companies ... Read More »

CreditArbitrators and CreditAnswers Targeted by New Mexico for Alleged Illegal Activities

Credit Answers and Credit Arbitrators have been on the radar here on the site for a long time. First it was with commercials they were running and later it was with an approach they were taking by mailing a catalog of services in what appeared to be an attempt to circumvent the Federal Trade Commission Telemarketing Sales Rules (TSR) designed ... Read More »

Colorado Cancels or Revokes Debt Settlement and Credit Counseling Company Licenses

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The State of Colorado has apparently revoked or canceled the licenses of Vortex Debt Group, Square One Debt Settlement, New Life Debt Relief, Nationwide Support Services, CSA, Credit Solutions of America, and Credit Answers. The following credit counseling group license was canceled through withdrawl, National Foundation for Debt Management. [Update: For clarification, please be advised that NFDM voluntarily surrendered its ... Read More »

I Went with Credit Answers and Now Owe More Than My Original Debt With Chase. – John

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“Dear Steve, Hello Steve, I hope you can help me with current situation. - Had $15K debt on Chase card after the divorce. And with income cut in half, I was having difficulty making payments. But I am still paying for two other credit cards ($7,500) - Sought help with Credit Answers in 2009, hoping they could negotiate with Chase ... Read More »

Morgan Drexen Running TV Commercial for Debt Settlement Clients. Says It Is Exempt from FTC Rules.

So what is the truth about Mogan Drexen? On one hand they claim, as was stated in the recent West Virginia Attorney General suit about them to “merely provide paralegal services to lawyers engaged in debt settlement activities on behalf of clients.” Even their own website says: Morgan Drexen provides integrated legal software and paralegal services to attorneys across America. ... Read More »

How Reputable is DMI of Plano, TX? – Teresa

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“Dear Damon, I have a lot of credit card debt and I am getting overwhelmed over it I am confused as to what debt settlememt company I can trust How reputable is DMI of Plano TX Teresa” Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, ... Read More »

Tipster Wants to Know, are Credit Arbitrators and Credit Answers the Same Outfit?

Credit Arbitrators Building

A tipster (send in your tips here) want to know if Credit Arbitrators was the same company as Credit Answers. I took a look at the two websites and discovered they have the same picture of the same office building they work in. I’ll let you comment and judge. Click image for a larger view. Certainly an interesting coincidence. And ... Read More »

Credit Answers Loopholing TSR With the Catalog Approach?

Credit Answers Approach

Recently I published a couple of articles on the Debt Mediation Initiative approach used by Credit Answers. See this article, and this one. What I had neglected to publish previously was something a great tipster (send in your tips here) had sent in showing how Credit Answers was continuing to collect monthly fees for services from month one after the ... Read More »

Credit Answers Still Pushing Debt Mediation Initiative. USOBA Kicks Them Out.

Credit Answers Mailer DMI

A tipster (send in your tips here) sent in the following mailer that went out recently to consumers. It is another version of the Credit Answers mailer I covered in Credit Answers Hides Behind DMI Mailer to Consumers. The mailer included a link that led to a web page that used the USOBA logo as you can see in the ... Read More »

Credit Answers Hides Behind DMI Mailer to Consumers

DMI-Front

Thanks to a great tipster (send in your tips here) I received a mailer that was sent to consumers. The envelope looks official and comes from: DMI 6200 Tennyson Parkway Suite 200 Plano, TX 75024 The letter inside is the first mention of Credit Answers in the small print on the bottom. It is also the first place we learn ... Read More »

National Debt Relief Initiative – Marketing Fakery. Shame on You Credit Answers.

NDRI-Front

I see consumers are still asking me about mailers they are getting that look like official government documents and have a return address of: National Debt Relief Initiative PO Box 96503 #10680 Washington, DC 20090-6503. As you can see by the image below, the self sealing mailer certainly appears to be an official mailing by glancing at it. Putting “This ... Read More »

CreditAnswers Government Bailout – Debt Relief Television Commercial

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Commercial Name: CreditAnswers Government Bailout Record Date: 11-08-2010 Network/Channel: Retro TV Description: 1-800-572-1308. This appears to be the exact same commercial which I reviewed in April, 2010, here. Here is what I previously said about this commercial. “Do you know if you qualify for the credit card bailout program?” “If your credit card debt is out of control there is ... Read More »

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