Latest Posts
Home > Debt Articles > Debt Settlement Related (page 14)

Debt Settlement Related

What to Do When Your Debt Settlement Company Goes Out of Business

NSCC13

With regulation of the debt settlement industry around the corner and the debt settlement groups saying that when debt settlement companies are prevented from collecting fees before providing service that 85% of them will go out of business, it’s time we talked about what to do when your debt settlement company fails. The vast majority of debt settlement companies that ... Read More »

    Damon & Steve Talk About Debt Settlement Bullshit – Get Out of Debt Podcast

    Ready to Collapse

    Here is the latest Get Out of Debt show podcast. Today Damon Day and I got together and picked a topic in the debt relief world and discussed it at length to give you insight into the inside information on this topic. We hope to do this on a regular basis to share with you what we know to help ... Read More »

      Why Most Debt Settlement Sales People Are The Worst to Ask for Financial Advice

      Ready to Collapse

      My friend Damon Day did a wonderful video looking at debt settlement recruiting and the skills debt settlement companies target when hiring new representatives. If you get a moment, you can read Damon’s post that accompanies his video here. You can watch Damon’s video below. Read More »

        My Crazy Bipolar Husband Beat Me Up and Left Me With a Broken Leg. – Cathey

        Ready to Collapse

        “Dear Steve, My crazy bipolar husband beat me up and left me with a broken leg and 78,000.00 in unsecured debt. I make 70,000.00 a year and am able to make my mortgage payment (I have 30,000.00 in equity) and student loan. However, with his loss of income, I can no longer make the 3,000.00 a month credit card payments. ... 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 »

            The Cost of Settling Debt – Action News Detroit

            Ready to Collapse

            Here is a news report about the tax consequences of debt settlement. I’m afraid to say the report really glosses over the tax implications of settling debt and makes it seem as if everyone with forgiven debt will pay taxes but that’s not true. It’s more complicated than that. They key point to watch for is if the forgiven debt ... Read More »

              If You Owe Chase Bank, Forget About Debt Settlement.

              Ready to Collapse

              In recent communications with Chase Bank they helped me to understand their policy when it comes to working with debt settlement companies, they won’t. Paul Hartwick, spokesperson for Chase told me, “Chase will not work with debt settlement companies. Customers who notify Chase that they are working with a debt settlement company will be advised of this policy and encouraged ... Read More »

                My Debt Settlement Company Went Out of Business

                Ready to Collapse

                New regulatory action by the Federal Trade Commission and the Debt Settlement Consumer Protection Act will probably put a vast majority of debt settlement companies out of business. My bet is that those companies that close doors will soon file bankruptcy to terminate any claims a past client might have for refunds. Hopefully many of those companies were using the ... Read More »

                  Allegro Law and Keith Anderson Nelms Bankruptcy Hearing April, 2010

                  Thanks to Kenneth for pointing out this audio to me. You can now listen to the bankruptcy trustee hearing at which Keith Nelms appeared in April, 2010 to discuss his bankruptcy filing. Listen to Keith Nelms Bankruptcy Hearing Read More »

                    Why I Love Debt Settlement and Why Debt Settlement Isn’t Going Away

                    Debt Settlement Dog

                    Based on some of the things I’ve written about debt settlement some people may think I actually hate debt settlement. In fact nothing could be further from the truth so I wanted to talk about it. With all that has gone on in debt settlement with the investigations, FTC telephone sales rules, Senate hearings on debt settlement, the Debt Settlement ... Read More »

                      AARP Urges Illinois Governor to Sign the Debt Settlement Consumer Protection Act

                      Ready to Collapse

                      HB 4781 Would Give Consumers the Strongest Protections in the Nation against Fraudulent Debt Settlement Agencies SPRINGFIELD, Ill., May 7 /PRNewswire-USNewswire/ — Burdened with piling debt in a down economy, thousands of Illinois consumers contact debt settlement agencies in search of help – only to find huge fees, deceptive business practices, and often times no solutions to their problems. But ... Read More »

                        Illinois Senate & House Pass Aggressive Debt Settlement Consumer Protection Legislation With Strong Bipartisan Support

                        Ready to Collapse

                        Illinois Attorney General Lisa Madigan today applauded the General Assembly for passing the Debt Settlement Consumer Protection Act, HB4781, which has now passed both houses. This legislation is crafted to prohibit debt settlement firms from engaging in unfair and abusive practices aimed at bilking financially strapped consumers. The Senate today passed the bill with a vote of 56-1 after the ... Read More »

                          I-Team Investigation: Debt Settlement – Lifesaver or Scam?

                          Ready to Collapse

                          Here is a television story on debt settlement that aired recently. If you look carefully you’ll notice some of the groups I’ve written about before are included in it. Steve Read More »

                            Another Swift Kick to The Debt Settlement Industry

                            Ready to Collapse

                            On top of a miserable performance at the Senate hearings on debt settlement and the rolling out of the new Debt Settlement Consumer Protection Act, the Better Business Bureau has issued a strong warning to consumers to avoid debt settlement services. Read More »

                              If You Signed Up With a Debt Settlement Company Since in 2008, 2009, or 2010. Bad News.

                              Ready to Collapse

                              Damon Day had an excellent observation on his site in a post he wrote after the Senate Hearings yesterday on debt settlement. His concern is for people who have enrolled in a debt settlement program in the last couple of years. Since the debt settlement companies typically take their fees during the first couple of years the consumer is enrolled ... 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.