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Debt Settlement Related

eBay Debt Settlement and Credit Repair for Less Than $1

eBay Debt Settlement

Does anyone believe this advertising copy or the fact you can get rid of 80% of your debt and have it removed from your credit report for $1? Ah but wait, the $0.99 item actually costs $4,000. A classic need for regulation. Click Image for Larger View. — Only pay 20% of your charge-off and collection accounts. We will go ... Read More »

    Debt Settlement President Says My Debt Settlement Refund Process is Like Dropping a Nuclear Bomb

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    Not that long ago I wrote an article about how to get a refund from a debt settlement program. I’ve already heard back from some readers that have used the process effectively but I wanted to ask a debt settlement company leader I know if he thought the process would be effective for consumers. I love this quote from his ... Read More »

      Question for You About a Sex Offender and Debt Settlement Company

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      I just got a credible tip about a convicted sex offender that is in upper management of a debt settlement company. My question to you is, is it news I should report if I can confirm it, which I can. Or should I disregard it. I’ve never faced this situation before. The person was convicted of: 800.04 Lewdly Fondle Or ... Read More »

        CONSUMER ALERT – Do Not Enroll in Any Debt Settlement Program Before October 27, 2010 That Charges a Fee Before Debt is Settled

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        The new Federal Trade Commission rules have now been released that will regulate how fees can be charged in debt settlement programs. Any consumer that is thinking of enrolling in any debt settlement program before the new rules take effect on October 27, 2010 needs to be aware, after that date a debt settlement company can not charge you a ... Read More »

          How Do You Value Your Quality of Life? Debt Solutions to Fix The Future

          Photo Credit: Cayusa

          Debt doesn’t just affect the people actually in debt, it often affects the ones around them, near and dear to them. I know this from first hand experience as someone who has loved and lived with someone so deep in debt they could not see a way out. Not only is the emotional toll hard on the debtor but also ... Read More »

            Det Ettlement – Taking the B.S. Out of Debt Settlement (Funny Video)

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            Here is a video that Amanda Miller from the site put together for her first video assignment. She wanted to share what debt settlement sales people should tell you in a funny and honest way. Let us know what you think of the video in the comments below and if we should do more. Comment, comment, comment below, please. Get ... Read More »

              FreeDebtSettlementAdvice.com Appears to Misinform Consumers to Sell Debt Settlement Services

              FreeDebtSettlementAdvice.com today distributed a press release title “Why Bankruptcy Should Always Be The Last Option For Debt Relief” that appears, in my opinion, to sell consumers into debt settlement services through blatant misinformation. Disgusting. Obviously from the title the intent of the release is to try to encourage people away from bankruptcy. But here is what the release says: Bankruptcy ... Read More »

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

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                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

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                  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

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                    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. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Read More »

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

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                      “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

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                        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

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                          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.

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                            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

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                              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 »

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