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Debt Settlement Related

Keith Nelms, Owner of Allegro Law Debt Settlement Fame, Goes Bankrupt With $28 in His Pocket

nelmshome

I just took a look at the bankruptcy filing for Keith Nelms, the attorney owner of the Debt Settlement company, Allegro Law. Some of the creditors he listed in his filing included: Jennifer Nelms, Calude Nelms, Jr., State of Alabama Consumer Affairs Division, Internal Revenue Service, Alabama Department of Revenue, some student loans, Chase Bank, Household Finance, and the approximately ... Read More »

    Credit Card Defense Network CCDN Sued as a Debt Settlement Company by West Virginia

    The AG’s office in West Virginia just forwarded me a copy of their suit against Robert Lock and Phillip Manger of the ill fated Credit Card Defense Network. CCDN has been in a heap of trouble for some time now. Robert Lock, an attorney, was all over the net in the past few year bragging about how his techniques and ... Read More »

      Debt Settlement USA Sued by Bankruptcy Trustee for a Lot of Money

      Here is an interesting legal case that was filed on March 26,2010 against Debt Settlement USA. Former Debt Settlement USA clients, the Leber’s went bankrupt. The Chapter 7 trustee took a look at their situation and sued Debt Settlement USA claiming that Debt Settlement USA breached its contractual obligations to the Lebers’ and failed to provide the promised result. Among ... Read More »

        Dumbest Press Release of the Day – Federal Consumer Relief / Federal Debt Relief

        There is no way I’d do business with the Federal Consumer Relief / Federal Debt Relief company. After reading their latest press release I think they are illiterate. Carefully read the press release they sent out, below, and let me know what you think. Valuable Process to Reduce Debts Debt Settlement Company is a con and has no meaning of ... Read More »

          US Debt Resolve, First Debt Settlement Company in America to Embrace Openness and Transparency for Consumers

          US Debt Resolve Open and Transparent Home Page

          Effective April 7, 2010 US Debt Resolve, under the leadership of Scott Johnson, became the first debt settlement company in America to answer my challenge for openness and honesty in the debt settlement industry from my article “A Call, Make That a Scream, for Transparency in the Debt Settlement Industry.” I’ve had conversations with some other debt settlement companies as ... Read More »

            Federal Trade Commission Releases “Settling Your Debts” Publication

            Ready to Collapse

            The Federal Trade Commission today release a new publication to help consumers that might be considering debt settlement as a way to deal with their debt. Settling Your Credit Card Debts Settling Your Credit Card Debts If you’ve maxed out your credit cards and you’re getting deeper and deeper in debt, chances are you’re feeling overwhelmed. How are you ever ... Read More »

              AARP Gets Tough With Debt Settlement Companies

              Ready to Collapse

              Burdened with debt, millions of consumers contact debt settlement agencies in search of help – only to find out that what looked like the light at the end of the tunnel turned into a nightmare because of huge fees and deceptive business practices. As bills keep piling on the kitchen tables of a growing number of Americans, lack of regulation ... Read More »

                Why Do TASC Member Debt Settlement Companies Appear to Fail Their Own TASC Audit?

                I don’t know how in the world I landed on this press release from The Association of Settlement Companies (TASC, but I did and I wasn’t looking for it. The press release contained a very interesting statement. – Source The audit process is investigating and confirming member compliance with organization bylaws which dictate business practices and ethics standards. In addition ... Read More »

                  Beware of Debt Settlement Scams Says CBS News

                  Ready to Collapse

                  A report on the CBS “Early Show” had some very strong warning about debt settlement companies. Minnesota Attorney General Lisa Madigan said, “You would be more likely to settle your debt by buying a lottery ticket than by signing up with a debt settlement company.” You can watch the report from CBS below. Read More »

                    Debt-Settlement Fraud Rising with Lack of Regulation Says Washington Post

                    Ready to Collapse

                    Baltimore resident Gloria Snowden thought she had found a way out from under her $10,000 credit card bill when she signed up with a company that promised to negotiate with creditors to settle the debt for less than she owed. It was 2003 and the nascent debt-settlement industry was just taking off. Traditional credit counseling and consolidation organizations devise payment ... Read More »

                      Regulation of Debt Settlement Companies Looming

                      Ready to Collapse

                      This is a guest post by Kenneth Long, President of Fiscal Progress. If you would like to submit a guest post for publication, just send me an email to [email protected] Steve On September 25, 2008 the Federal Trade Commission (FTC) held a public workshop to explore the for-profit debt settlement industry. Panelists representing debt settlement companies, consumer advocates, regulators and ... Read More »

                        Former Bank VP of Recovery Operations Says TASC and Most Debt Settlement Companies, Suck!

                        Ready to Collapse

                        Dear Steve, My name is Jeff Meek and until Aug 2009 I was Vice President of Recovery Operations for WaMu Card Services. During my almost five year tenure at the bank I had the opportunity to review the Debt Settlement industry through the critical eyes of an issuer. When we began looking at Debt Settlement as a option for our ... Read More »

                          Freedom Debt Relief Bragging About Being in Forbes. Not So Fast Fellas. Back the Bus Up.

                          I am constantly accused of targeting this company or that company but in truth I’m so busy writing about the next thing to cross in front of me I don’t have time to have anyone on the radar. I say that because I find myself writing something that involves a company I’ve written about before, Freedom Debt Relief, a debt ... Read More »

                            Rules for Debt Settlement Companies Would Help Protect Consumers

                            Ready to Collapse

                            An editorial out of Michigan does a good job of summing up the grassroots feelings of educated consumer activists regarding needed debt settlement regulations. Here is the editorial: Pay off your debts for just pennies on the dollar! One phone call can save you from years of financial misery! Sales pitches like these might sound like they’re coming from a ... Read More »

                              Attorney General Warns Consumers About Credit Repair and Debt Settlement Scams

                              Ready to Collapse

                              Florida Attorney General Bill McCollum issued a consumer advisory warning Floridians about scams related to credit and debt issues. Companies offering credit repair solutions or debt settlement were among the top concerns reported to the Attorney General’s Office last year. The Attorney General noted that, given the current economic climate, disreputable companies will likely continue to prey on consumer’s credit ... Read More »

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