Posts about debt settlement, covering how it works, its impact on credit, potential risks, and alternatives to help you make informed financial decisions.
Attorney General Andrew M. Cuomo today announced a new development in his nationwide investigation into the debt settlement industry, filing suit against two debt settlement companies for fraudulent business practices and false advertising. Cuomo filed suit against CSA-Credit Solutions of America, Inc. (“CSA”), based in Richardson, Texas, which is one of the largest debt settlement …
The Consumer Credit and Protection Act was recently introduced in the House of Representatives to specifically address issues in some industries, including debt settlement. As boring as it sounds, I was actually reading the testimony of the expert witnesses at the recent committee meeting on the bill and found the segment below to be of …
Attorney General Lisa Madigan and Acting Secretary of the Illinois Department of Financial and Professional Regulation (IDFPR) Michael T. McRaith warned consumers facing significant credit card debt about the risks of debt settlement offers as she announced two lawsuits filed against debt settlement firms. Attorney General Madigan s lawsuits allege that these companies engage in …
Able Debt Settlement, Inc., of Irving, Texas, was stopped from doing any business in West Virginia by the Circuit Court of Kanawha County as of May 14, 2009. Attorney General Darrell McGraw sued Able Debt Settlement last month, seeking injunctive relief and restitution for consumers who paid for debt settlement services they never received. Able, …
Debt settlement companies in the United States had better brace for some interesting times, and not good times for them. The Attorney General of New York recently issued subpoenas to fourteen debt settlement companies, not in an interest to learn more about them, but to give him the evidence he need to close down the …
Subpoenas Fourteen Debt Settlement Companies and One Law Firm in Connection with Probe Debt Settlement Companies Often Charge Huge Fees for Misleading Plans, Suggest Selling Blood Plasma to Raise Funds, and Leave Consumers in Worse Financial Shape NEW YORK, NY (May 7, 2009) – Attorney General Andrew M. Cuomo today announced a nationwide investigation into …
Press release just out from New Era Debt Solutions. A whole lot of commonsense and truth in this release. Good job guys. Get Out of Debt Guy – Twitter, G+, Facebook CONSUMER DEBT OPTIONS THREATENED “Consumers are the losers with a debt settlement industry in crisis.” People today are facing more immediate financial pressure than …
The following is a guest post. The opinions expressed are those of the author, not necessarily mine. Get Out of Debt Guy – Twitter, G+, Facebook The following guest post is by Cole Collins. Cole is a professional in the field of bankruptcy and debt settlement. He was born on june 13th 1979 in Chicago. …
Update August 28, 2019 I received the following statement to add from Davis Frank of DebtRx. He wanted people to understand this post was not about the current company DebtRx He said, “This complaint is Not against DebtRx. It is against a different, unrelated, company which added the word USA to their name.” DebtRx and …
The debt settlement industry is exploding. Some say that many of these new companies are being run by failed mortgage brokers that want to get into the business. I don’t know about that but certainly there is a wave of opportunism evidenced by the exploding debt settlement industry. The sad thing about this is that …