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Credit Counseling Industry

2009 NFCC State of the Credit Counseling and Financial Education Sector Address

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Below you will find the presentation given by Susan Keating of NFCC regarding the state of credit counseling in the United States. I was pleasantly pleased to find the NFCC talking about possibly leaving the door open to pursue offering debt settlement in the future, efforts to regulate the debt settlement industry, and an admission that the Call to Action ... Read More »

    Allegro Law Debt Management Clients. Important Information to Get Better Service.

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    I’m reposting information that I had posted as a comment on the article about the Allegro Law debt settlement mess. I wanted to make sure that people who were Allegro Law debt management clients saw this important information. Attention All Allegro Debt Management Clients I have made special arrangements for you with Cambridge Credit Counseling to transfer your accounts to ... Read More »

      Where Has Credit Counseling Been on Pushing Ahead Alternative Dispute Resolution From BAPCPA 2005?

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      Every had one of those times when something pops into your head and makes you say to yourself, “Why?” Recently I had an opportunity to look at a copy of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. I know, I know, not the kind of light reading you normally pick up. I was looking up something else ... Read More »

        Credit Repair and Credit Counseling Firms Banned From New Jersey

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        A Final Consent Judgment has been entered against the defendants sued by the Office of the Attorney General in New Jersey and its Division of Consumer Affairs for allegedly offering credit repair and credit counseling services that consumers paid for but did not receive. Defendants United Credit Adjusters, Bankruptcy Masters Corp., United Counseling Association, Inc., and Credit Bureau Controls Corp. ... Read More »

          The Truth About Credit Counseling and Debt Settlement. Interviewed by Mary Hunt.

          Today I appeared on the radio show of Mary Hunt and talked about the realities of modern credit counseling and debt settlement issues. You can listen online: If you can’t see the player above, click here. Get Out of Debt Guy – Twitter, G+, Facebook Read More »

            Credit Counseling, Credit Repair, Debt Settlement and Other Scams Are Target of FTC Sweep

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            The Federal Trade Commission recently annound operation Short Change, an effort to help curb abuses of consumers by groups claiming to offer help. Here is a summary of the companies targeted under Operation Short Change. California Mezey & Associates, Inc., Campos Chartered Law Firm, The Consumer Protection Law Center dba Consumer Law Center, LLC Desist and Refrain Order issued for ... Read More »

              Call to Action Debt Management Plans Rolling Out Slowly. May Benefit Consumers Looking to Repay.

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              For years I have been emphatic that in a credit counseling or debt management repayment plan, it isn’t the interest rate reduction alone that is important, people need to get their monthly payments reduced. That’s more important. New “Call to Action” debt management plans (DMPs) offer low or no interest rates to people who can qualify. In addition, the plans ... Read More »

                Michigan Credit Adjustors, in Trouble and on Fire! – Vicki

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                I wasn’t really sure what to do with this question or statement that came in so I thought I’d just publish it and hope that others can add something to it regarding their experience with Michigan Debt Adjustors, positive, neutral, or negative. The reason I’m doing this is that there is just little to nothing written or on the web ... Read More »

                  West Virginia Attorney General Sues Non-Profit Credit Counseling for Really Being All About Profit

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                  Attorney General McGraw Sues James R. Armstrong, Jr. and His Web of Florida Shell Companies Over Fraudulent Credit Counseling Scheme Attorney General Darrell McGraw filed a suit today alleging that James R. Armstrong, Jr. of Coral Springs, Florida, masterminded a web of for-profit companies to enrich himself under the guise of providing debt management services with Family Credit Counseling Corporation, ... Read More »

                    Attorney Loses Law License Because of Debts. Forced Into CCCS by Court. Plan Fails Miserably.

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                    An attorney in Texas has lost his law license over unpaid debts and student loans. Pretty scary but totally unnecessary and avoidable. When attorney Frank P. Santulli III first ran into financial troubles in 2001, the Texas Board of Law Examiners ordered Santulli to enter into a debt management plan with Consumer Credit Counseling Service. But in May of 2002 ... Read More »

                      Most Debt Advice Suggested is Snake Oil or the Wrong Solution For People In Trouble. Here’s Why.

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                      I’ve been following the conversations on Twitter (@GetOutOfDebtGuy) and watching what others are saying about debt management, credit counseling, debt settlement and bankruptcy and it really has me worried and concerned. I’m a guy that lived through financial problems myself and went bankrupt in 1990. I then went on to found and run a non-profit credit counseling company, Debt Counselors ... Read More »

                        A Secret You Are Not Supposed to Know – Citibank CCCS Credit Counseling Terms

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                        I’ve written a lot about the misperception that people have that going into a CCCS or credit counseling program involves some sort of negotiation with your creditors. It doesn’t. You will notice that none of the credit counseling groups say that they are there to defend you and put you first. This is because no matter what they say, as ... Read More »

                          Quickies – CCCS Consumer Review, Autos, Cards, Balances, and Debt

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                          When I need a break from answering questions I often take a look for some odd or interesting search terms that people used to find me. Below are some of the latest I saw today that I wanted to provide quick answers to. Steve Search Terms CCCS consumer review – CCCS stands for Consumer Credit Counseling Service but it has ... Read More »

                            Are CCCS and Credit Counselors Salivating From Government Push to Help Save Homes With Housing Counseling?

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                            Don’t be confused, housing counseling by credit counselors is a profitable business. And now that the government has laid out a new, aggressive plan, to help people to avoid foreclosure, credit counseling groups must be celebrating with a big party. Housing counseling is a revenue source for credit counseling offices and with the sudden availability of help and resources for ... Read More »

                              Why is Consumer Credit Counseling Service (CCCS) Spending $18,785 a Day on Online Ads?

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                              I was looking through the visitor logs on the site tonight and saw a link from a site called Keyword Spy. I followed the link back and discovered that the site is pretty cool for checking out what sites are spending on online ads. A link of a link of a link on the site took me to this page ... Read More »

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