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Debt Settlement Related

Taxes On Debt Settlement

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Why must I pay Taxes on Debt Settlement? The concept, although quite simple, can actually be very confusing for consumers, especially because of false information offered by some debt relief sales people. The bottom line: Unless exempted by the insolvency rules or another exemption, you will owe taxes on debt that has been forgiven by a creditor. In this article ... Read More »

    Free Debt Relief Industry Regulation and Legislation Tracking

    Debt Management Laws

    I’m happy to announce today that both consumers and debt relief companies will now have FREE access to debt relief industry compliance, regulation, and legislation resources. This site module for the GetOutOfDebt.org site will give site visitors fee access to be better informed and educated about debt relief industry regulations. In this module you will find: Updates on current debt ... Read More »

      Debt Settlement Scams- 10 Stupid and Simple Ways to Get Burned

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      Over the past few years I have heard non-stop stories from consumers who were taken for costly rides by debt settlement scams. While it is true that there are a few good and well intentioned programs available that provide real debt solutions, my experience shows that a vast majority of these outfits are simply money grubbing nightmares for cash strapped ... Read More »

        Johnson Law Group and ESS Fall Out of Love

        Just today I was reporting about Enhanced Support Services (ESS) after they were hit with a $594,000 fine and refund in Colorado. At one point Johnson Law Group in Orlando was the creation of Tom Roland of ESS and other companies. But apparently the love affair is over between the two groups. An email sent to Johnson Law Group clients ... Read More »

          Legal Helpers Debt Resolution Mailer. Reader Reports Them to Bar.

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          A reader and tipster (send in your tips here) just sent in a mailer they received from Legal Helpers Debt Resolution and Macey, Aleman, Hyslip & Searns. The reader sent the mailer in through the tip line here and said: Here is a solicitation letter I received form Legal Helpers/Macey Aleman. I am a North Carolina resident. The required disclaimer ... Read More »

            Is Leading Debt Arbitrators in Canada a Poser?

            A loyal tipster (send in your tips here) sent in an email asking my why a Canadian debt settlement company that charges consumers a “Service Fee” of an amount equal to fifteen percent (15%) of the balance upon enrollment, is claiming that their client deposits are FDIC insurred. Excellent Question! What they say on their site is “Q: Who pays ... Read More »

              How to Settle American Express Credit Card Debt

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              If you’re facing a legitimate financial hardship and can’t make the minimum payments on your American Express credit card one potential solution is to negotiate a lump-sum settlement for less the balance owed. If you’re unfamiliar with debt settlement, you’re probably wondering how someone who can’t make their monthly payments would have the funds needed for a settlement at, say, ... Read More »

                Morgan Drexen Skewered by The Center for Public Integrity

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                Shirley Gao from The Center for Public Integrity just posted a look at the activities of Morgan Drexen in the case of retired schoolteacher Mary Linville from West Virginia. Linville had engaged Morgan Drexen to provide her with debt settlement services and wound up sued by one of her creditors. The West Virigina Attorney General later filed suit against Morgan ... Read More »

                  All Debt Relief – Reader Express Concern and Rightfully So

                  All Debt Relief

                  A reader contacted me to express concern about All Debt Relief. This company chargers fees on credit card in advance and even the settlement funds that will be paid down the road on a credit card and than enrolls that credit card. this may be the worst company ever. I reached out to the company through the email address provided, ... Read More »

                    I Am Considering a Debt Settlement Program But I’m Afraid of Getting Sued…What Should I Do?

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                    The following guest post was contributed by Veritas Legal Plan. If you would like to contribute a guest post, click here. If you are reading this article chances are you are considering enrolling or are currently enrolled in a debt relief program. Some of you will choose the nonprofit CCC/Debt Management Programs and those that are unable to afford the ... Read More »

                      Express Debt Settlement Big Changes. Lays Off Entire Site.

                      Express Debt Settlement

                      A tipster (send in your tips here) let me know there have been big changes at Express Debt Settlement. Among them, the layoff of their old website. The home page has now gone from this… to this… And it appears the entire site is now just that one page for visitors. I wonder if this now spells trouble for the ... Read More »

                        Canadians Warned About Vortex Debt Group – Again

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                        Well here it comes again, more warnings from Canada about Vortex Debt Group in Florida. CBC News out of Canada today is reporting: “I feel like a victim of a crime, like somebody’s just come into my house and stolen things from my house from me, because basically that’s what they’ve done,” said Adrienne Saunders, of London, Ont., who signed ... Read More »

                          How the Veritas Prepaid Legal Plan Can Protect You When You Are Sued in a Debt Settlement Program

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                          The following guest post was contributed by the folks at Veritas Legal Plan. If you would like to contribute a guest post, click here. The simple way to describe the Veritas Legal Plan is “Peace of Mind”. While that does not define us, it certainly drives us. No one wants a lawsuit but the reality is that consumers who default ... Read More »

                            NuHavens Refuses to Give Refund 80 Year Old for Debt Relief Services Never Delivered. Winds Up on TV,

                            NuHavens

                            A tipster (send in your tips here) sent in a link to a story by WTKR about a debt relief company called NuHavens who labels themselves as consumer advocates. It sure does not appear to be much advocacy going on here. According to WTKR, 80 year old Brigitte Musial paid NuHavens to negotiate her debt. Things did not work out ... Read More »

                              The Alleged LHDR Client Experience in Pictures

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                              After listening to and reading about countless stories from unhappy former clients of Legal Helpers Debt Resolution, reviewing their contract myself, and observing the process they put their clients through, I have formed a personal opinion about the business model of Legal Helpers Debt Resolution and in past articles I have not been shy about my complaints. Judging from the ... Read More »

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