Latest Posts
Home > Debt Articles > Credit Counseling Industry (page 4)

Credit Counseling Industry

DebtWave Clients at Risk from CBDC Failure?

Ready to Collapse

Just yesterday a tipster (send in your tips here) sent a copy of an email that was allegedly sent out by the nonprofit credit counseling group CBDC in Florida, here. CBDC allegedly said the reason they could not immediately continue to service consumers was because of the suspension of the Florida attorney, Clint Johnson, that had been supervising the trust ... Read More »

    CBDC Rumored to Have Closed Doors Suddenly

    Ready to Collapse

    A tipster (send in your tips here) reports that effective yesterday, the nonprofit 501(c)3 credit counseling group closed their doors suddenly. According to the tipster (send in your tips here) a notice was sent out saying: I wanted you to hear this from me directly; I regret to inform you that CBDC will no longer be able to assist any ... Read More »

      National Foundation for Credit Counseling – History and Future

      Screen Shot 2011-07-31 at 11.27.30 AM

      National Foundation for Credit Counseling History The largest and oldest association of nonprofit credit counselors is an association that was originally founded as the National Foundation for Consumer Credit, and later changed their name to the National Foundation for Credit Counseling. Groups that exist as members under the National Foundation for Credit Counseling (NFCC) are knows as Consumer Credit Counseling ... Read More »

        Gerri Detweiler and I Talk About Mass Joinder Scams and Does Credit Counseling Work

        Here is the recent podcast I did with my friend and fellow debt expert Gerri Detweiler. Gerri Detweiler is a fantastic debt and credit expert who is not only an awesome person but provides exceptional advice for consumers. I’ve known Gerri since 1994 and am always really proud to work with her to help consumers. Please feel free to visit ... Read More »

          Fake Nonprofit Credit Counseling Agency Robocalls Lead to Financial Freedom and Southeast Trust

          A tipster (send in your tips here) recently sent in the following robocall they had received. Listen to Robocall The robocall led me to secret shop the “certified non-profit agency” that had already approved me. The recorded message instructs callers to dial 800-706-6208. As you will read in the transcript below, when I questioned the sales representative about their bad ... Read More »

            Nationwide Financial Center Charges Big Bucks to Enroll in DMP

            Nationwide1

            A reader contacted me with a question, here. She said that a company called Nationwide Financial Center sold her into a debt management program for which she first had to pay $1,295 before she could get in to the credit counseling program. She sent me the agreement she signed to put the $1,295 on her HSBC credit card so she ... Read More »

              More on Nonprofit Credit Counseling Group United Financial Systems

              Ready to Collapse

              A tipster (send in your tips here) sent me a link to a recent television report on the nonprofit group United Financial Systems I’ve written about previously . As of today United Financial Systems has 679 BBB complaints filed against it and has not responded to 351 of those. Sadly as I predicted in my story “United Financial Systems Looks ... Read More »

                The History of Getting Out of Debt This Week on the Get Out of Debt Guy Show

                In this show I talk with Dr. Louis Hyman, a consumer credit historian. We talk about the history of debt relief. He points out that the process of intervening in the debt of consumer began way back after World War I with the advent of new consumer debt opportunities. It does not matter if it was the refinancing of debt ... Read More »

                  Credit Counseling = Fishing

                  Fishy

                  I had to share this with you. I was on a site doing some research on another company but stumbled across this listing of someone that said they worked for a credit counseling company. Look at the graphic below and have a laugh at the industry they say it is part of. Read More »

                    Couple Gets Out of $88K in Debt in Three Years. Exception or Rule?

                    Ready to Collapse

                    CNN broadcast the story below on how one couple managed to dig themselves out of debt in about three years. It is a good news story for those people that can afford the minimum payment on their debt plus pile on extra funds. In this case the couple used a credit counseling service to help them achieve their goal by ... Read More »

                      DMP Payments Late Through Americorp from First Consumer Debt Consolidation/Hess Kennedy. Who’s Responsible?

                      Ready to Collapse

                      A tipster (send in your tips here) sent me the following statement and I’m posting it in hopes of hearing from others with information about the situation to see if anyone has any additional scoop on the situation. Tipster says: “Thank you for your site. I am a current debt management program of client of First Consumer Debt Consolidation/Hess Kennedy. ... Read More »

                        Debt Settlement Fee Ban, Credit Counseling Wounded, Caller Question – The Get Out of Debt Guy Show

                        Get Out Of Debt Guy Show Logo - Final 300x300

                        Today we’ll be also talking about the impact the new fee ban for debt settlement services is going to have. We’ll also talk about changes that are impacting credit counseling and why people need to address their problem debt now before the economy improves too much. All that and a caller question on today’s show. Listen to Debt Settlement Fee ... Read More »

                          Offshore Debt Settlement, Morgan Drexen, Badges, Elizabeth Warren, Bed Intruder, CROA, and More – Podcast

                          Here is this weeks podcast where Damon Day and I talk about a number of debt industry issues including: Debt settlement companies settling up offshore enterprises to sell services back to U.S. residents. The odd statements made in the recent Morgan Drexen press release. You can watch video from the release here. What is the Financial & International Independent News ... Read More »

                            Oregon Creates Web Page to Turn in Illegal Debt Settlement, Debt Management and Credit Repair Companies

                            Ready to Collapse

                            The State of Oregon now has a dedicated page on their site for consumers to report ads for debt relief companies. Apparently Oregon is also targeting debt relief companies that advertise on the web as well as television. radio and mail. The page says: HELP STOP ILLEGAL DEBT MANAGEMENT COMPANIES IN OREGON Have you heard or seen ads for companies ... Read More »

                              Consumer Credit Counseling Service of Greater Atlanta Gets $3.5 Million Grant

                              Ready to Collapse

                              Grant provides much-needed boost to homeowners in Atlanta, Miami/Fort Lauderdale, New York/Northern New Jersey, Los Angeles, Washington, D.C. and others in danger of foreclosure Consumer Credit Counseling Service (CCCS) of Greater Atlanta today announced that it has received a $3.5 million grant to support its national foreclosure prevention counseling efforts in several metropolitan areas. The much-needed boost will enable CCCS ... 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.