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Door Slams Hard on Morgan Drexen Debt Settlement Company

By on June 22, 2015

Surely a bunch of people at Morgan Drexen are blaming the U.S. Government and Consumer Financial Protection Bureau (CFPB) today for the utter demise of Walter Ledda’s creation, Morgan Drexen, on Friday.

An insider told me over the weekend, “Just letting you know the court ordered Morgan Drexen’s trustee to seize operations immediately. Morgan Drexen was shut down today at noon and every employee was asked to leave immediately and escorted out.”

But if there ever was a good example of a slow moving train wreck, I think the demise of Morgan Drexen might just qualify. You see the troubles faced by Morgan Drexen have been going on for literally years. Want to read the soap opera, grab a coffee and click here.

But out of humor and patience, it seems the court did not find it remotely possible to take over Morgan Drexen and run it to an orderly shutdown. Court documents say Morgan Drexen was up to no good and need to be terminated post haste.

In a move that impacts good employees with unemployment and trusting consumers who hoped to get debt relief assistance, the actions of Morgan Drexen have led to a lot of people being harmed in one way or another.

The words and finding of the court capture the frustration, alleged facts, and hopelessness of allowing Morgan Drexen to live even for another 90 days.

About 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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