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Credit Counseling Industry

FTC Nails American Mortgage Consulting Group and The Debt School

Bitch Slap

The defendants in two separate alleged scams have settled charges with the Federal Trade Commission and will be banned from providing mortgage- and debt-relief services. The cases are part of the FTC’s continuing crackdown on scams targeting consumers in financial distress, including debt relief and credit repair scams, and mortgage relief scams. American Mortgage Consulting Group; Home Guardian Management Solutions: ... Read More »

    CRL Report Results in Silence From the Debt Relief Industry

    Lowering Coffin

    The other day I published the debt settlement recommendation report from The Center for Responsible Lending (CRL), click here. As vocal as critics have been in attacking this site and myself for being outspoken about consumer unfriendly debt relief practices I felt certain people would have comments to offer about the CRL recommendations. But silence, except for one commenter. Some ... Read More »

      Credit Counseling Services and the Bankruptcy Conundrum

      SONY DSC

      A press release out by Advantage Credit Counseling Service drew me to their site today. – Source. While there I came across a good example of the ethical conundrum facing nonprofit credit counselors today. Advance Credit Counseling Service is not alone in dealing with this problem. According to the Advantage Credit Counseling Service website they are a proud member of ... Read More »

        Student Loan Alliance Teaches Credit Counselors What About Student Loans?

        don't believe

        Student Loan Alliance put out a press release earlier this week talking about the training they were giving credit counseling agencies in order to deal with student loan problems. Student Loan Alliance says the credit counseling agencies that participate in their approach and training are The participating organizations are: Consumer Credit Counseling Service of Greater Dallas, Consumer Credit Counseling Service ... Read More »

          Debt Consolidation USA Says Avoid Credit Counseling

          bad decisions

          A nonsensical press release just out by Debt Consolidation USA warning consumers about credit counseling seems odd to say the least. Let’s go with the assumption the reason for this release was just to try and score some SEO points or something like that. The release refers to an article on their website titled “Reasons to Avoid Credit Counseling.” – ... Read More »

            Sanctuary Belize, Andris Pukke, Todd Cook, Peter Baker & Ameridebt

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            Please see updates on July 15, 2013 and July 23, 2013 to this article at bottom. Recently tips and information has been trickling in regarding an old debt relief industry name I had not heard for awhile, Andris Pukke. Pukke was nailed by the FTC for his operation of Ameridebt and even did some jail time for it. You can ... Read More »

              The Role Credit Counseling Plays in Debt Relief

              Decision time

              The following is a guest post. And while I personally might not agree with some of the points of view, I think it is important for people to hear from different sides. Given what I think is going to be an exploding retirement crisis I am now more convinced that for those near or over 50 with little to no ... Read More »

                Nonprofit Mpowered Appears to Mislead Consumers

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                A Facebook friend brought Mpowered to my attention and asked me about them. Mpowered was formerly Community Credit Counseling Services and is located in Colorado. The person wanted to know what I thought of their program. Since I have no personal knowledge about the solutions they offer I had to go to their website and rely on what they have ... Read More »

                  NFCC Press Release Seems to Misrepresent Truth About Credit Counseling. But Why?

                  questions

                  The National Foundation for Credit Counseling sent out a press release today claiming their survey uncovered public misconceptions about credit counseling agencies. The press release listed five areas the NFCC felt consumers struggled with in knowing the truth about credit counseling. But some of the points the NFCC felt they needed to clarify appear to actually misrepresent the truth to ... Read More »

                    Consumer Credit Counseling Pros and Cons. My Ultimate Guide to Understanding How Credit Counseling Really Works.

                    hiding

                    Consumer credit counseling is one of the options people turn to when dealing with debt issues so let’s take an honest look at the pros and cons of the program and what it has to offer. Consumer credit counseling in one form or another has been around as debt proraters, debt lumpers, or debt consolidators since the late 1930s. But ... Read More »

                      The Hidden Real Cost of Credit Counseling and Debt Settlement

                      process

                      With a more uncertain future for those headed towards retirement it makes logical sense that we need to make preparing for our own retirement a priority in our lives. All indications are there will be less financial help available for us when we do eventually retire and that will most likely be later than most expect. So considering the importance ... Read More »

                        Personal Finance Author Gail Vaz-Oxlade Turns Away From Credit Counseling

                        change your mind

                        In a slowly building concern over personal finance advice, Gail Vaz-Oxlade, author of Money Rules, Debt Free Forever, It’s Your Money, and more personal finance books, is quoted as reversing her position about credit counseling in Canada. Gail Vaz-Oxlade, author and host of Til Debt Do Us Part and Princess, used to recommend credit counseling services to consumers in financial ... Read More »

                          Military Debt Management Agency MDMA Hits Military and Consumers for Student Loan Help

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                          A tipster (send in your tips here) sent me a fee schedule from the non-profit credit counseling group Military Debt Management Agency (MDMA) in Florida. The reader was concerned that this non-profit 501(c)3 IRS approved charity that is supposed to be helping military members and general consumers was taking advantage of those with federal government student loan debt, by charging ... Read More »

                            InCharge Debt Solutions Gives Employees Access to Your Personal Information at Home

                            INCHARGE DEBT SOLUTIONS WORK-FROM-HOME

                            InCharge Debt Solutions, and Orlando based non-profit credit counseling agency, just put out a press release that brags about how their telecommuting program benefits the environment. It even included a neat little infographic which you can see below. “Improving our employees’ quality of life and job satisfaction were enough for me,” said Ms. Money from InCharge. “Reaping the additional benefits ... Read More »

                              FTC Closes Down Credit Counseling Company We’ve Written About.

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                              The Federal Trade Commission has been kicking debt relief butt recently. They’ve been closing down bogus outfits almost faster than I can write updates about them. The latest is a company a reader and tipster (send in your tips here) alerted me about. I then made a secret shopper call you can listen to. See Fake Nonprofit Credit Counseling Agency ... Read More »

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