Latest Posts
Home > Author Archives: Steve Rhode (page 52)

Author Archives: Steve Rhode

FTC Versus NCO Debt Collector. FTC Wins $3.2 Million Penalty.

punched-in-face different

The world’s largest debt collection operation, Expert Global Solutions and its subsidiaries, has agreed to stop harassing consumers with allegedly illegal debt collection calls and to pay a $3.2 million civil penalty – the largest ever obtained by the Federal Trade Commission against a third-party debt collector. In its complaint, [which you can read here] the FTC charged that the ... Read More »

    Debt Defense Services is Back and Making Some Disturbing Claims

    caution

    Recently a debt relief insider and tipster (send in your tips here) sent me documents that were being circulated by Debt Defense Services. I’ve written about them before, see this. This time they are trying to recruit people by telling them how debt settlement companies switch to selling their debt relief services once they hear about what they have to ... Read More »

      Brite Solutions Financial Services Says What About the FTC?

      Big Scam Dog

      A reader and tipster (send in your tips here) in the debt relief industry forwarded me an email they recently received from Brite Solutions Financial Solutions that makes the dumbest claim, unless you want the FTC and CFPB breathing down your neck. The email to signup new Brite Solutions affiliates says: “Higher Commissions : FTC Compliant : Easy Sale Performance ... Read More »

        Another Example of Student Loans Discharged in Bankruptcy

        bankruptcy-1

        I’ve been writing more about bankruptcy cases that have resulted in student loan discharges, see here. And in doing some more research I came across another case from 2012. In the Northern District of Georgia a consumer was able to get the following loans discharged: Oakland Community College – $754.80 Texas Guarantee Student Loan – $48,135 U.S. Department of Education ... Read More »

          Florida Man Discharges Federal Student Loans in Bankruptcy

          thumb up

          Attorney Marilyn Hochman recently scored a victory in discharging federal student loans in a bankruptcy case. The consumer was able to discharge $8,223.49 in federal student loans without opposition by the Department of Education. Foster, the consumer, was unemployed and had previously filed for Social Security disability but was denied due to “not enough information.” Marilyn Hochman filed an adversary ... Read More »

            FTC Proposes New Rules to Protect Consumers From Being Scammed

            ftc

            The Federal Trade Commission is proposing new rules to help protect consumers and is opening a public comment period in which anyone can offer feedback and the ability to comment on the proposed rules. The proposed changes in the Telemarketing Sales Rule, or TSR as many call it, is partially created because of some recent scams that have involved how ... Read More »

              Debt Settlement Company Sends Mailer Warning Consumers of Scheme

              Screen Shot 2013-07-06 at 1.43.07 PM

              As if the 2013 version if the debt relief industry was not weird enough at times, this completely unexpected mailer was sent in and was allegedly sent by one debt settlement company who has appeared on the site to use this site as a weapon to prevent customers from leaving them and going elsewhere. I don’t want to name the ... Read More »

                InCharge Getting Busy and Chasing Educators

                INCHARGE DEBT SOLUTIONS LOGO

                InCharge® Debt Solutions (“InCharge”), a nonprofit credit counseling agency, announced today that its Teach Money program reached the milestone of being completed by more than 1,000 future educators in Central Florida. The program is funded by Chase [Chasing, get it?] and is designed to address one of the fundamental steps outlined by the Consumer Financial Protection Bureau (CFPB) in its ... Read More »

                  Big Case Proving Ability to Discharge Student Loans in Bankruptcy

                  College Tuition Expenses

                  Times are changing when it comes to being able to discharge student loans in bankruptcy. And while the road has been paved by a few who have been successful, one 2013 case decided by the U.S. Appeals Court in the Ninth Circuit seems like it gives hope to those who want to discharge their student loans through bankruptcy. The Ninth ... Read More »

                    US Debt Relief Center Mailer Seems Over the Line

                    Screen Shot 2013-07-06 at 12.18.27 PM

                    I thought the day of the fake looking official mailer from Washington, DC were over. I was wrong. An entity called US Debt Relief Center is sending out mailers offering debt settlement services. An amazing reader sent in a new debt relief mailer through my I Buy Junk Mail program. Front This mailer and several others I’ve posted recently are ... Read More »

                      World Law Debt, Meet Oregon

                      Panic attack

                      World Law Debt might want to read the tea leaves facing them from recent actions by North Carolina and now Oregon. Read past article on World Law Debt On July 1, 2013 the Oregon Department of Justice and Department of Consumer and Business Services sued Swift Rock Financial, Wold Law Debt, World law Direct, World Law Group, World law Plan, ... Read More »

                        A Look at American Credit Shield and What They Are Offering

                        past due

                        A debt relief industry insider and tipster (send in your tips here) forwarded me a copy of an agreement they received from a consumer from a new company called American Credit Shield. The tipster (send in your tips here) said the consumer was being charged a fee of several thousand dollars to participate, a monthly fee and another fee that ... Read More »

                          August 2, 2013 is the Day for the New Debt Relief Industry

                          news-hot

                          I wrote extensively about the new coverage by the Consumer Financial Protection Bureau of rules that regulate the debt relief industry. See Here It Comes. CFPB Supervision of Debt Relief Industry and Credit Counseling. The new rules were published in the Federal Register on July 3, 2013 and will go into force on August 2, 2013. – Source I can ... Read More »

                            New Bank Guidance Can Be a Debt Collection Game Changer

                            The Office of the Comptroller of Currency has issued guidance to banks it supervises that will be used to supervise the bad debt and debt collection practices of banks. The new guidance is not a rule yet but it is the OCC document on what is “best practices.” The focus of the rule is bad debt that is sold and ... Read More »

                              Here It Comes. CFPB Supervision of Debt Relief Industry and Credit Counseling.

                              Screen Shot 2013-07-02 at 5.18.20 PM

                              The CFPB has released their final rule covering nonbank providers and the rule appears to sweep up all of the debt relief world. The rule will become effective 30 days after publication in the Federal Register. It is my understanding this will be published on July 3, 2013. The CFPB rule making document makes it clear companies who believe they ... Read More »

                                Get My FREE Get Out of Debt Guy Newsletter

                                It is the smart thing to do.

                                I promise to keep your email safe and secure.

                                Close

                                I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

                                You can unsubscribe at any time with just one click.

                                After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


                                • It will keep you posted on the latest scams.
                                • You will be alerted to the latest articles.
                                • You will wind up smarter than everyone else dealing with debt.