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Why is TASC Saying Consumers Pay Really High Interest Rates in Credit Counseling?

A tipster (send in your tips here) just brought this video to my attention. It features Dave Leuthold the executive director of TASC, until recently. I’m not sure what happened over at TASC but it looks like they cleaned house. In fact as of today they are down to 58 members and I can’t find a mention of Leuthold there anymore.

The video makes the following puzzling statements:

  • Today a lot of people don’t qualify for bankruptcy. How is that true?
  • Leuthold agrees that people pay very high interest rates in a credit counseling program.
  • He says that consumers are first interviewed to make sure debt settlement is right for them. Funny, none of the TASC members I’ve shopped have done that.
  • At the time this was recorded most or nearly all consumers were paying upfront fees for their member debt settlement programs but yet Leuthold says member companies are doing what is best for consumers. Really?
  • He goes into the “tough” standards members must comply with. Then why do so many members not comply?
  • Leuthold says they are in favor of regulation, but at the state level.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.


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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.

10 Comments

  • Follow the trail. Century Negotiations -> Century Mitigations -> Legal Services Support Group -> LHDR. LSSG does the marketing for LHDR. Century Mitigations is a front for CNI/Leuthold to not be named directly.

  • An affiliate would typically result in sending business to LHDR. This would translate to Dave Leuthold supporting the LHDR advance fee model. I was under the impression he is on the board of directors with LHDR as a backend service provider. Just confused as to how he can claim to support DS regulations?

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