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Debt Settlement Related

Morgan Drexen and Some of the Consumer Complaints Against Them

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Under a Freedom of Information request a document was obtained which contains a number of complaints filed by consumers against Morgan Drexen, the Nevada and California based debt settlement enterprise. Morgan Drexen appears to be coming under an increasing level of scrutiny and has been the subject of a number of consumer complaints and lawsuits for services. – Source Of ... Read More »

    Montana Couple Files Class Action Lawsuit Against Debt Settlement Company Morgan Drexen

    A Montana company has filed a class action lawsuit against the debt settlement company Morgan Drexen. Morgan Drexen is accused of violating racketeering laws and the Credit Repair Organizations Act. A newspaper article said: Morgan Drexen has “actively conspired’’ to avoid laws that apply to debt settlement companies and has “engaged in the unauthorized practice of law,’’ the complaint said. ... Read More »

      First American Debt Solutions Apparently Lying to Debtors to Scare Them

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      Bankruptcy attorney Dan Nunley in Oklahoma gets the credit for breaking this story. “It seems that a debt settlement company by the name of First American Debt Solutions (FADS) of Deerfield Beach, Florida, is mailing solicitation letters to Chapter 13 bankruptcy debtors across the USA. In the letter, FADS blatantly lies to the debtors by telling them that their Chapter ... Read More »

        Debt Settlement America, TASC, and Chris Kesterson, What’s That All About?

        Thanks to one of this sites readers who sent me a tip to [email protected] I was told about a festive holiday press release from Debt Settlement America that was sent out. December 24, 2009 – Debt Settlement America (DSA) has offered a special gift to three families this holiday season by allowing them temporary deferments. A deferment means that the ... Read More »

          MN Attorney General “Debt Settlement Companies Really Put People Into a Financial Death Spiral”

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          I spotted an article “New Law Tightens Rules for Debt Firms” in which the Minnesota Attorney General, Lori Swanson, does not mince words about the problems she see with debt settlement companies. You can read the full article here. Consumers need to go into these transactions “with their eyes wide open,” said Elwood. Once they sign with a debt-settlement company, ... Read More »

            Debt Settlement USA Review. Not Pretty.

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            My friend Damon Day recently did a contract review for a client of his who was tangled up with the debt settlement company, Debt Settlement USA. Damon’s review didn’t pull any punches and I thought his catch of the discrepancy in the fees charged and the time to complete the program was brilliant. When I use a real calculator and ... Read More »

              Double Standard For Debt Settlement. Not So Sleazy Now, Ask Hilary Clinton, John Glenn and the FEC.

              Debt Settlement Companies?

              Consumer debt is a world of double standards. On one hand you have advocates screaming about the evils of debt settlements or that groups that charge people for professional help to do debt settlements are ripping off consumers because settling debts is something that anyone can do. Don’t get me wrong, I’m not a huge fan of debt settlement plans ... Read More »

                Debt Settlement Companies Draw Wrong Conclusion About Recent FICO Score Facts

                FICO

                In a press release by Morgan Drexen (Morgan Drexen Warns Consumers: If You Choose Bankruptcy You Could Face a Devastating 240 Point Decline in Your FICO Score) the debt settlement company draws the conclusion and states “Perhaps the difference between debt settlement and bankruptcy, when it comes to FICO scoring, is simply this: through debt settlement, the consumer is making ... Read More »

                  Big News in the Debt Settlement World. Vermont Kicks Debt Settlement USA and Financial Freedom of America Ass.

                  In a move that could be a very interesting trend setter, the state of Vermont has forced two debt settlement companies to refund all fees paid by state residents. While Vermont is a small state and not a whole lot of residents worked with these two companies, it is an interesting approach by a state to protect its citizens from ... Read More »

                    Leadango, Selling Debt Settlement and Loan Modification Leads

                    leadango debt settlement leads

                    I saw the press release below and thought it was yet another wonderful example of the “selling” of debt settlement and loan modification services to consumers. Leadango Logo Debt Settlement TV Leads, Debt TV Leads English and Spanish. www.Leadango.com 1-888-957-9990 Debt TV Leads. Our Debt Settlement TV commercials are producing thousands of inbound calls every day. Leadango is #1 in ... Read More »

                      Morgan Drexen Almost Hits the Target With Debt Settlement Petition

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                      Most of the news coming from the debt settlement industry these days is either about how the sky will fall if the new Federal Trade Commission guidance goes into place to control the debt settlement industry, or how it is needed. Well here is an interesting press release just out from the folks at the debt settlement company Morgan Drexen. ... Read More »

                        Maine AG Queues Up and Sues Credit Solutions of America.

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                        Attorney General Janet Mills announced today that she has filed suit against Credit Solutions of America, Inc. (CSA) and its president, Douglas Van Arsdale, for unfair and deceptive practices in the marketing and provision of debt settlement services to hundreds of Maine consumers. This lawsuit follows an investigation conducted by staff in the Attorney General’s Office and at the Bureau ... Read More »

                          Love Irony? You’ll Love This. Debt Settlement Industry Upset About Greed and Quality of…Itself.

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                          A press release from Live Transfers USA really caught my eye, especially since they were bitching about the very same debt settlement infomercial I mentioned to you many months ago in “The Selling of Debt Settlement Services. It’s Easy to Sucker You In.” The release also complained that some in the debt settlement industry were unlawful, unscrupulous, unethical and not ... Read More »

                            Debt Settlements May Be Voided And the Money Due Anyway

                            A recent posting, “An IRS 1099-C Form Does Not Mean Debt is Discharged” caught my eye. It highlights a great potential risk for people that use debt settlement to eliminate their debt. The surprise is that while they think the debt settlement process has discharged their debt, it absolutely might not. A third circuit bankruptcy case recently decided that Form ... Read More »

                              Now You Know the Debt Settlement Industry is in Trouble When Alaska Cracks Down

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                              Alaska, otherwise known as the last of the rough and tumble frontiers in America, is often the last bastion of lawlessness. Have you watched the Alaska State Trooper television show? A story by KYUU in Alaska made me chuckle. Apparently Alaska is outraged by the actions of debt settlement companies that are charging up-front fees. Alaska’s attorney general has joined ... Read More »

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