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Debt Settlement Related

American Debt Control and Debt Relief USA Unfortunately Back in the News

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Interesting article worth reading out of Texas about debt settlement and the Debt Relief USA mess. People in desperate financial straits will sometimes go to desperate lengths to get out. And some companies use questionable practices to capitalize on their plights. The most recent example is an Addison-based company that promised to cut consumers’ credit card debt, but instead charged ... Read More »

    Debt Settlement Companies Watch Out. Debt Settlement Talks Getting Serious Now About Banning Up-Front Fees.

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    Missouri Attorney General Chris Koster will meet with both Secretary of the Treasury Tim Geithner and Attorney General Eric Holder in Washington, D.C. to discuss Missouri’s efforts to pursue businesses engaged in mortgage fraud. Geithner and Holder invited Koster and several other Attorneys General from around the nation to meet with them to discuss the problem and possible solutions. Also ... Read More »

      The Selling of Debt Settlement Services. It’s Easy to Sucker You In.

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      Did you know that for only $10,950 any person of unknown character and intent can launch a national advertising campaign and sell debt settlement services? On my last tour of the country I was laying half awake in bed and on came this commercial that certainly appeared as if it was a news broadcast or message from the government. It ... Read More »

        Debt Settlement Lies & Inside How Debt Settlement Services Are Sold

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        Recently I had the opportunity to meet Michael Bovee from Consumer Recovery Network and I asked him if he would be honest enough or brave enough to openly share some of the marketing secrets of debt settlement services today. Here is what he was willing to share and you will see it is a very frank and open description of ... Read More »

          Credit Solutions Debt Settlement Company Makes The News, Again

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          Credit Solutions is one of the largest debt settlement companies and has certainly managed to irritate the BBB, Attorney General’s in three states, is facing a class action suit, and that’s just to name a few of the actions against it. Get Out of Debt Guy – Twitter, G+, Facebook Read More »

            Debt Relief USA Sued for Millions by Texas AG

            Texas Attorney General Greg Abbott today took legal action to recover $4.6 million that a bankrupt “debt settlement” company wrongly withheld from its clients in Texas and other states. In June, Debt Relief USA Inc. of Addison filed for bankruptcy protection in the Northern District of Texas. As a result, more than 2,500 financially distressed customers did not receive the ... Read More »

              FTC Wants Your Feedback on New Regulations on Debt Settlement and Debt Relief Services

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              In an ongoing effort to better protect financially distressed consumers, the Federal Trade Commission is seeking public comment on proposed rules to combat deceptive and abusive telemarketing of debt relief services – services that purportedly can reduce consumers’ credit card and other unsecured debt. In the Noticed of Proposed Rulemaking (NPRM) announced today, the Commission proposes amendments to the Telemarketing ... Read More »

                Topaz Financial Services, Swiftrock Financial, & Mesa Rock Financial. Odd & Curious.

                Topaz Financial Services

                I’m not quite sure how this little article first began. What I can tell you is that it didn’t begin with me looking for any of these companies. But in my research I noticed something very odd, three debt settlement companies were advertising themselves as the “leader in debt resolution” but they were all using the same site layout and ... Read More »

                  The Dark Side of Debt Settlement – MSNBC

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                  I’m probably going to get a stern email from the folks at MSNBC saying that I shared too much of one of their stories with you. But the information is so important, you need to read it. I urge you to click through and read the rest of the story. The basic strategy these firms employ is to instruct consumers ... Read More »

                    Judgments Tossed Out Against Debtors in New York. Law Firms and Debt Collectors Sued.

                    New York Attorney General Andrew M. Cuomo today announced his office has sued 35 law firms and two debt collectors in New York State in order to throw out an estimated 100,000 default judgments improperly obtained against New York consumers. This is the latest action in Cuomo’s ongoing investigation into unlawful debt collection practices. According to the lawsuit filed yesterday ... Read More »

                      The Truth About Credit Counseling and Debt Settlement. Interviewed by Mary Hunt.

                      Today I appeared on the radio show of Mary Hunt and talked about the realities of modern credit counseling and debt settlement issues. You can listen online: If you can’t see the player above, click here. Get Out of Debt Guy – Twitter, G+, Facebook Read More »

                        Missouri Attorney General Testifies Before U.S. Senate About Debt Settlement and Mortgage Rescue Scams

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                        Attorney General Chris Koster will testify before the U.S. Senate Commerce Committee today on the increase in mortgage-rescue and debt-settlement fraud Missouri is experiencing during the downward economic times. I just watched the live feed of his testimony and hopefully his testimony will be made public. If you are running a debt settlement company in Missouri, it wasn’t pretty testimony. ... Read More »

                          California Debt Settlement Legislation AB350 Much Closer to Passing

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                          California is very close to passing new regulations regarding debt settlement services. Below you will find the meat of the regulations. You can read the latest version of AB350 Debt Management and Settlement act here. An interesting new twist in this regulation from California is the sentence “The provider’s total fees must be spread over at least half the length ... Read More »

                            Debt Settlement Attorney Lawyer Keith Nelms Loses Law License for Three Years

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                            Just yesterday I wrote about the recent troubles with Keith Anderson “Andy” Nelms, a lawyer in Alabama that is running a debt settlement company called Allegro Law that actually farms out cases to Americorp. I came across this little nugget that should make any lawyer engaged in debt settlement services, take notice. In a matter unrelated to the civil complaint, ... Read More »

                              Debt Settlement Attorney Keith Nelms with Allegro Law Gets Sued in Alabama

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                              Action by the Alabama Attorney General this week further highlights the tough stance that law enforcement is taking against debt settlement companies. In this case it is against a lawyer and his related professional companies. This suit might lead other debt settlement attorneys to exit the debt settlement business to prevent the loss of their professional license. The suits and ... Read More »

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