Debt Relief Industry In The News

Global Client Solutions to be Called to Testify Before the Senate Commerce Committee

In what could be a first step towards a mortal wound for Global Client Solutions and similar companies like NoteWorld, Senator McCaskill has said that Global Client Solutions will be called to testify before a Senate Committee.

This is especially telling since Global Client Solutions, through its partner, Rocky Mountain Bank, has been advised to know their debt settlement customers and know who they are helping to take money from consumers. Read Rocky Mountain Bank & Trust / Global Client Solutions – FDIC SHOCKER!.

Both Global Client Solutions and NoteWorld have been named in class action lawsuits by consumers who feel the two debt settlement escrow companies have facilitated in the harm cased to them by the debt settlement companies.

If Global Client Solutions and NoteWorld are not going to be highly selective about the debt settlement companies they work with then these two companies could soon find themselves under greater scrutiny by Congressional investigators and more.

Under the new Telemarketing Sales Rules put forth by the FTC, the escrow companies also need to exercise great care it appears since:

It’s illegal to provide “substantial assistance” to another company providing debt relief services if you know they’re violating the Rule or if you remain deliberately ignorant of their actions.

If you work with debt relief companies, review their policies, procedures and operations to make sure they’re complying with the Rule. Willful ignorance isn’t a defense. – Source

More to come on this.


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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