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Debt Settlement Related

SwiftRock Financial Services and Clear Your Debt Slammed in Texas Article

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Out of Austin, Texas today comes the following warning to consumers. Two Austin debt-settlement firms have been sued by the Illinois attorney general, which alleges that they use deceptive marketing practices, charge excessive fees and do little to help consumers get out of their financial trouble. The Better Business Bureau of Central Texas has given Clear Your Debt and SwiftRock ... Read More »

    TASC, The Association of Settlement Companies, Say What?

    In a press release sent out today the Executive Director of TASC, The Association of Settlement Companies, is quoted as saying the following about attending an upcoming debt collections conference. “I’m looking forward to talking about how debt settlement continues to be a reliable option for consumers in debt as well as for creditors,” Leuthold said. “Having representatives from the ... Read More »

      Debt Settlement Company Says “If We Don’t Do Our Job We Shouldn’t Get Paid.”

      Wouldn’t it be great if all debt settlement companies could adopt the approach proclaimed by Julian Debt Resolution in a recent press release of theirs: A hallmark of their service is that, unlike most credit resolution companies, JDR takes no payment upfront for their debt settlement services. States Julian, “If we don’t do our job, we shouldn’t get paid. End ... Read More » WTF Dudes!

        What is it with debt settlement companies? They often say the dumbest things. This nugget comes from a press release by the and Michael Hart. This reason is offered up why debt settlement is such an attractive business opportunity. As of October 17,2005 all Americans seeking bankruptcy must complete a credit counseling program. The problem with this is that ... Read More »

          The Most Ridiculous Debt Settlement Quote of the Day.

          Oh I tried so hard to let this quote just drift past me, but I confess, I just can’t. In a press release sent out by The Association of Settlement Companies (TASC) today, (source) the executive director of TASC, Dave Leuthold, is quoted as saying: “Consumers wrestling with their ability to pay their credit card debt often can be best ... Read More »

            Debt Settlement Programs Fail to Reduce Debt in Most Cases, Negatively Affects Credit Ratings, and Leads to Increased Lawsuits and Collection Activities by Creditors

            In an announcement by the Attorney General of Alabama, Troy King, he disclosed the results of his investigation into debt settlement practices that resulted in the permanent shutdown of a large attorney run debt settlement company in Alabama but serviced by Tim McCallan’s company, Americorp in New York.. Some of the discoveries as part of his investigation found: It is ... Read More »

              Meritxell Negre Singing About Debt Settlement for Debt Free League


              Meritxell Negre, the Latin Queen of Soul and the new Peaches (albeit 6th Peaches) in Peaches and Herb is now singing about a debt settlement program that is named the “National Debt Relief Stimulus Plan.” That sure sounds like the name of a program designed to fool consumers into thinking there is some so or government sponsored debt elimination program. ... Read More »

                Debt Settlement Companies Targeting Facebook for Leads

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                The new Pay Per Close (not per lead) debt leads system by is quickly providing a return on investment for it’s current members. Debt settlement firms buy leads and marketing everyday in order to find debt saturated consumers in need of some debt relief. There is an element of risk associated with buying debt leads and marketing to generate ... Read More »

                  Clear Your Debt, Endebt Solutions, Debt Consultants of America, DebtOne Financial, American Debt Arbitration – Sued by Illinois

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                  Illinois Attorney General Lisa Madigan today filed four lawsuits against debt settlement companies, alleging that the defendants are engaging in deceptive marketing practices, charging excessive fees and doing little or nothing to improve consumers’ financial standing. Along with these suits, Madigan has proposed legislation that would crackdown on the industry’s abusive practices. “These companies are unfairly luring financially strapped consumers ... Read More »

                    “Traditional Debt Settlement Companies Are Working for the Creditors, Not the Consumer.”

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                    I recently wrote a review about a new company called Capital Protection Group. It occurred to me as I was working on it how times have changed in the last year. Debt settlement companies used to say “Credit counselors are working for the creditor, not the consumer.” Debt settlement companies seemed to want to position themselves as the champion of ... Read More »

                      Chris Kesterson, President of Debt Settlement Trade Association TASC Settles Charges by State

                      Chris Kesterson

                      The Association of Settlement Companies, a debt settlement trade association, proclaims to be the watchdog of the industry and to “promote good practice in the debt settlement industry.” But I’ve got to ask myself, if TASC is so focused on working on behalf of consumers then way did the TASC President, Chris Kesterson, (seen left) just settle legal issues with ... Read More »

                        Debt Settlement Trade Association USOBA Holds Conference at Resort

                        Is it just me or does it see a bit insulting that at a time when the debt settlement industry is under fire for profiteering and taking advantage of consumers that the United States Organizations for Bankruptcy Alternatives trade association is holding their upcoming summer 2010 conference at the Four Seasons Resort in Palm Beach, Florida. The ultimate in comfortable ... Read More »

                          Debt Settlement Legislation to Prohibit Up-Front or Monthly Fees and Cap Fees at 5%

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                          Illinois Attorney General Lisa Madigan is backing legislation to ban debt-settlement companies from charging upfront or monthly fees and that caps payments to firms promising to reduce credit card debt. The legislation would cap fees at 5 percent of the savings resulting from settling a debt, rather than a percentage of debt enrolled. It also would allow cancellation of a ... Read More »

                            What Do You Think of Solid Ground Financial? – Lorie

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                            “Dear Steve, I am self employed hairdresser and the economy has hurt my business so much we cannot contuine to make our monthly payments. Just today I signed papers to let solid ground financial settle my debt..I am scared, and wondering if we did the right thing…I don’t want to get sued, or have my creditors call our work. we ... Read More »

                              Debt Settlement Industry Invaded by the Mafia, Mob, and Organized Crime

                              I have been doing a number of reviews of companies in the debt settlement industry lately and one thing has become very clear, the industry seems to be rife with some really bad people. Now nobody wears a tag around their neck that says “I’m in the Mob” and there is no Mobbook to look at but what is very ... Read More »

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