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Debt Settlement Related

Double Standard For Debt Settlement. Not So Sleazy Now, Ask Hilary Clinton, John Glenn and the FEC.

Debt Settlement Companies?

Originally published December 11, 2009 Consumer debt is a world of double standards. On one hand you have advocates screaming about the evils of debt settlements or that groups that charge people for professional help to do debt settlements are ripping off consumers because settling debts is something that anyone can do. Don’t get me wrong, I’m not a huge ... Read More »

MD – The Gift That Keeps on Giving

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If you thought having VD was bad news, try having a bit of Morgan Drexen (MD). It seems all those who touched Morgan Drexen just keep on losing. The clients were unhappy, the government was unhappy, the CFPB is unhappy, Former CEO Walter Ledda has got to be unhappy, and now the current attorneys managing the remaining clients have had ... Read More »

Do Regulators Treat Debt Relief Companies Unfairly?

Stone Balance

I was just sitting down with a friend in the debt relief industry who leans a lot further right than I do as a liberal lefty. I always enjoy the alternative point of view conversations on topics and that person does always make me smile because of the diverse points of view we often have on the same debt relief ... Read More »

Morgan Drexen Problems Not Over Even In Their Own Bankruptcy

Morgan Drexen Integrated Systems (20120116)

The national debt settlement company Morgan Drexen, whose successors are embroiled in their own legal troubles, seem to be facing more upcoming issues from their own bankruptcy filing. On April 30, 2015 Morgan Drexen filed for bankruptcy protection. The filing was converted to a Chapter 11 reorganization and then back to a Chapter 7 liquidation. The Bankruptcy Trustee appears to ... Read More »

Aissac Aiono and Seila Law Deny CFPB Claim They Should Be Held Responsible

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In the ongoing saga that is the Morgan Drexen mess, a new attorney was recently dragged into the quagmire. Aissac Aiono, operating as Seila Law was alleged to have taken over debt settlement clients and efforts for the chain that began with Morgan Drexen, passed through Howard Law, and now is purported to have landed on Seila Law. You can ... Read More »

CFPB Wins Final Judgment Against Morgan Drexen for Illegal Debt-Relief Scheme

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At the request of the Consumer Financial Protection Bureau, a federal district court entered a final judgment this week against debt relief company Morgan Drexen, Inc., resolving a lawsuit filed by the CFPB in August 2013. The Bureau’s lawsuit against Morgan Drexen alleged that the company charged illegal upfront fees and deceived consumers. The court found that the company violated ... Read More »

I’m Now Thinking Debt Settlement Attorney Aissac Aiono Must be Either a Liar or an Idiot

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Frankly I’m just ashamed and disgusted by revelations in recent court documents filed by the Consumer Financial Protection Bureau (CFPB) in the case against Morgan Drexen which then sucked in attorneys continuing the illegal advance fee debt settlement enterprise. One of those participants actually threatened to sue me when I first wrote about the activity. See this article. More on ... Read More »

Kerthump is the Sound the Morgan Drexen Judgment Made

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Yesterday the court issued a final judgment against the once soaring and now defunct debt settlement company Morgan Drexen. I’ll let the court order do the talking. “IT IS ORDERED: 1. Restitution: Judgment for equitable monetary relief is entered in favor of the CFPB and against Morgan Drexen in the amount of $132,882,488 as restitution for the unlawful up-front fees ... Read More »

Seila Law – Williamson & Howard – Debt Settlement Strangers?

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The court battles drag on in the ex-Morgan Drexen case that subsequently involved successor law firms and attorneys. Specifically, Vincent Howard, Howard Law, Lawrence Williamson, Williamson & Howard, and the Williamson Law Firm are still battling the Consumer Financial Protection Bureau (CFPB). The CFPB thinks these people should be held in contempt and pay monetary sanctions for some ongoing issues. ... Read More »

CFPB Discloses Why People Complain About Debt Settlement and Credit Repair

CFPB Consumer Complaints

The CFPB took a look at complaints it has received and shared why most consumers seem to complain about debt settlement and credit repair services. The Consumer Financial Protection Bureau said: “Excessive fees for debt settlement and credit repair services: Of all complaints marked as other financial service, 60 percent of them were about problems consumers had when dealing with ... Read More »

Horrible Debt Relief Marketing Letter Spoofs IRS

Deceptive Debt Relief Letter

A very kind reader sent in this letter to me. In my opinion it has to be one of the most deceptive looking debt relief marketing mailers I’ve seen in a while. The letter does not come from the Internal Revenue Service or the Department of the Treasury. It is a lead generation letter that is designed to get consumers ... Read More »

Former Morgan Drexen Exec & Owner Shares Lessons Learned

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I owe a tremendous debt of gratitude to Rita Augusta, a former owner and executive with Morgan Drexen, the debt settlement company who went on to be shutdown by the Consumer Financial Protection Bureau. Rita not only was brave enough to share the valuable advice below about lessons learned for consumers, but she also assisted the CFPB in their case. ... Read More »

Newly Blended Trade Association Moves Forward in Debt Relief Industry

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It’s always nice to see groups in the debt relief industry come together for the greater good. Effective in the early hours of 2016, two trade groups, mostly representing credit counseling organizations, decided to merge to become something bigger and better. The Association of Credit Counseling Professionals, Inc., known as ACCPros, and the Financial Counseling Association of America, formerly the ... Read More »

“Looks Like Fraud?” – Texas Assistance Group

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A reader sent in a mailer they had received from Texas Assistance Group and said, “Looks like fraud?” I don’t know if it exactly looks like fraud, because in my opinion it looks more like bullshit. Here are some red flags for me. But each person should feel free to do their own examination and reach their own conclusion. The ... Read More »

Aissac Aiono Opens New Law Office – Seila Law

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Aissac Aiono, who was previously associated with the Williamson Law Firm that was allegedly providing services or support for Morgan Drexen and/or Howard Law, has opened a new law office in Kansas City, Missouri. In this solo practice Mr. Aiono says he is providing assistance with personal injury, medical malpractice, consumer debt defense, child custory, bankruptcy, criminal defense, and DUI ... Read More »

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