John Hagenstein, Marketing Director for Credit Collections Defense Network (CCDN) Goes Bust

“The CCDN or the Credit Collections Defense Network was formed to help anyone with financial difficulties and credit delinquencies. We offer a source of relief and peace of mind for people who have an unmanageable amount of unsecured debt and just need help. Our process is recommended for people who do not want to file bankruptcy or attempt a debt consolidation or debt reduction process, and just want to put an end to the abuse of the debt collection industry and the harassment that follows with their contacts.” John Hagenstein – Source

Well it appears that one of the posse of the ill fated Credit Collections Defense Network (CCDN), the marketing director, that was selling bankruptcy avoidance and magical debt reduction has filed bankruptcy himself on January 6, 2010 to protect himself from creditors.

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John Hagenstein, a key player in the CCDN scam that took thousands of dollars from people, is down for the count himself.

Siegfried John Hagenstein according to his own sworn bankruptcy filing owed Academy Collection Service, Bank of America, BMW Financial Services, Capital Management Services, Chase Bank, an ex-wife, Citibank, Citifinancial, FIA Card Services, a couple of law offices, the IRS, Mann Bracken, Pallisades Collection, MBNA, Portfolio Recovery Associates, and others.

Now I’m very sympathetic and understanding with debtors that need to seek the protection of bankruptcy, but there is a small place where I just find it lovingly ironic that the seller of dubious debt relief services that injured consumers is in collections and has gone bankrupt himself as a result of selling junk. So how effective were those alleged debt avoidance services now John?

Hagenstein not only could not wiggle out of his own debt collection activity that he sold to others as realistic, but he even was sued by US Bank, lost and got a judgment against him last month over what appears to be $420. This guy must be beyond broke now. Makes the BMW seem very unrealistic.

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He’s even giving up his house on the lake in Minnesota. This guy has hit bottom hard.

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