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Debt Settlement Related

Express Debt Settlement Takes 17K and Refuses Refund? WTH

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My friend Damon Day published an article today about a consumer that contacted him for help in securing a refund for debt relief services. The story goes that Dinah spoke to a sales rep who identified himself as being part of Freedom Debt Relief but then signed Dinah into a program with Express Debt Settlement. Dinah then paid $17,000 in ... Read More »

    Should You Settle Your Debt Using an Unknown Online Form You Pay to Download?

    Debt Settlement Agreement

    A friend and reader of this site sent me in a link for debt settlement agreements which consumers can purchase online. Out of curiosity I asked some friends in the debt settlement world what they though of a consumer just launching into settling their own debt using such forms and they offered some good advice and probably not what you ... Read More »

      BBB Warns Consumers About Nelson Gamble & Associates

      A warning out of Oklahoma by the Better Business Bureau, Operations Director, Jim David, warns consumers about a debt settlement company, Nelson Gamble & Associates. NTV is warning consumers about Nelson Gamble & Associates: A company called Nelson Gamble & Associates located in Irvine, CA has an “F” rating with the BBB. It advertises debt settlement services with no up-front ... Read More »

        Why is Everest Debt Solutions Claiming to be a BBB Member on Their Site and in Ads?

        Everest Debt Solutions

        I was on Google and doing a search for something that involved the word debt in it and I saw the advertisement below. Now Everest Debt Solutions and I go way back. You can see my past articles on Everest Debt Solutions, here. In On October 9, 2009 I published an article that spoke about their use of the unauthorized ... Read More »

          Big Cheer for New Era Debt Solutions

          I just discovered that New Era Debt Solutions has just updated their site with a new truth and transparency page. – Source I’m very impressed they have created a page to make it very clear for consumers and site visitors about their performance statistics and most importantly they have placed their client agreement online so everyone can read it. This ... Read More »

            Cambridge Credit Counseling Puts Out New Video on Debt Settlement Rules

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            Starting October 27, 2010 the Federal Trade Commission’s Telemarketing Sales Rule will prohibit for-profit debt settlement companies from charging fees to consumers until the company has preformed an actual service. The Telemarketing Sales Rule applies to debt settlement companies that solicit consumers by phone, and to settlement agencies that receive calls in response to ads. Consumers should be aware that ... Read More »

              “We Quit” in Debt Settlement and Making Your Finances More Friendly – The Get Out of Debt Guy Show

              Revelations in debt settlement tops today’s show. Alex Viecco from New Era Debt Solutions openly talks about his disgust with the current state of debt settlement and why his company boldly and publicly resigned in disgust from The Association of Settlement Companies (TASC). In this show Alex is followed by some exceptional good financial advice and insight on a consumer ... Read More »

                Superior Debt Relief Services Offers Some Strong Words Against Attorney Debt Settlement Model

                Superior Debt Relief Services has an article on their site, here, that speaks directly against those pursuing an attorney front debt settlement business model. Their words are probably strong than mine have been at times so I’ll let the following excerpts and warnings from their site speak for themselves. Enter- a ‘wolf in sheep’s clothing’ – the attorney-based debt settlement ... Read More »

                  ABC 7 Runs Story on Big Crackdown on Debt Relief Companies

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                  WXYZ just ran a story warning warning consumers to beware of debt settlement companies that charge fees. It was yet another public notification that things in the debt settlement world when it comes to fees are going to change on October 27, 2010. The more that message can get out there, the better. As more of this media coverage continues ... 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 »

                      Sorting Out Debt-Relief Promises

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                      The Wall Street Journal just published a new article that talks about the debt relief world. Here is an excerpt and a link to the full article. The regulations, which extend the TSR rules to cover calls consumers make to firms in response to debt-relief ads, also will ban companies from misrepresenting what they can do. The most significant change ... Read More »

                        Credit Card Debt Settlement Act of 2010 Makes It Easier to Eliminate Debt

                        Credit Card Debt Settlement Act of 2010

                        For those of us in the know about the debt relief world and industry you will have already recognized that the title to this article is pure fiction. But that doesn’t stop others from basically making stuff up to confuse consumers. According to the recent press release sent out by a website, “Thanks to new debt settlement and relief laws ... Read More »

                          My Son is in Prison and Interested in the Debt Settlement Commercials He Sees. – Carolina

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                          “Dear Steve, My son has a credit card balance of $17,000. He is in prison and we have been paying $300/month on his card. He has asked us to stop paying, and to find some other way to reduce the balance. He has seen commercials on TV of companies that do that. Should we just default on the balance? Should ... 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 »

                              The Debt Settlement Good Faith Estimate Guide for the Confused Consumer

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                              As of September 27, 2010, debt settlement and debt relief companies are going to have to provide data to consumers when enrolling new clients or when promoting results. These facts are are part of the “Good Faith Estimate” and will help consumers to select the company they wish to work with. The Federal Trade Commission says that they have determined ... Read More »

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