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Debt Settlement Related

Debt Settlement Providers Pocketed Money, Got Prison

mans hands behind bars in jail or prison

Houstonian Nathaniel Chilo, aka Nathaniel O’Neil, 23, now convicted in two separate debt relief scams, has been sentenced to prison again, United States Attorney Kenneth Magidson announced today. Chilo entered a plea of guilty to wire fraud in relation to this case Thursday, Dec. 13, 2012. Today, U.S. District Judge Lee H. Rosenthal, who accepted the guilty plea, handed Chilo ... Read More »

    How Creditors Rate at Helping Consumers Settle Debt


    Michael Bovee, over on his Debt Relief and Credit Guides site has published a very good guide for people about how the major creditors are at providing settlements for problem debt. It’s a really good list and it ranks Chase, Bank of America, Wells Fargo, Discover Card, Citibank, Capital One, and American Express. For example, Bovee revels the best creditor ... Read More »

      Why Most Debt Settlement Companies and Credit Counselors are Bad Medicine

      the truth smaller

      A couple of years ago I wrote an article asking, pleading really, for any debt settlement company (DSC) to explain to me how they could ever possibly “do whatever is in the best interests of the consumer” when they are unable to give any legal advice in what are inherently legal matters. For example, as a matter of law they ... Read More »

        Lloyd Ward Loses Law License in Litigation. Only for Two Months.

        Screen Shot 2013-07-31 at 2.01.46 PM

        Writing anything about Lloyd Ward is a touchy subject. On one hand he was a prominent debt settlement attorney and on the other hand he sued my wife and I. In my personal situation the case was dismissed. In all, I really don’t hold a grudge or even “hate” the guy. As far as I’m concerned he’s just relevant news ... Read More »

          Alleged World Law Debt Marketing Insider Leaks Warning to Consumers

          Modern business concept

          The following post was written and contributed by someone familiar with the operation you will read about below. It is third-party supplied content. At the bottom of the story is a section with the results of the facts I was able to independently check. By Anonymous On May 23, 2013 first reported a story titled “World Law Debt, Global ... Read More »

            Morgan Drexen Throws Hail Mary, Sues Consumer Financial Protection Bureau

            Screen Shot 2013-07-23 at 10.42.39 AM

            Morgan Drexen, the debt settlement back office provider, has sued the Consumer Financial Protection Bureau in an effort to hopefully get the CFPB to get out of their business. The company is being represented by Venable, LLP and Randall Miller. In truth the suit is brought by Kimberly A. Pisinski and Morgan Drexen. The suit says Pisinski is an individual ... Read More »

              World Law Debt Still Hustling for Affiliates While Battling States and Complaints

              Certain death

              A debt industry insider and awesome tipster (send in your tips here) expressed some concern about continued affiliate recruiting emails from World Law Debt who claim to be “leaders in the debt solutions industry.” – Source World Law Debt is facing serious legal actions in Oregon, Illinois, and North Carolina. In Oregon alone they are facing $10 million in damages ... Read More »

                US Legal Service Group Sends Consumer Script – DOH!

                head hanging

                A consumer who was investigating the debt relief services offered by US Legal Services Group received a surprise in their contract package sent to them to sign and enroll. Oops, it included the field agent sales script as well. It appears from the documents turned over to me, the consumer was being sold an advance fee debt settlement program by ... Read More »

                  World Law Debt, Meet Oregon

                  Panic attack

                  World Law Debt might want to read the tea leaves facing them from recent actions by North Carolina and now Oregon. Read past article on World Law Debt On July 1, 2013 the Oregon Department of Justice and Department of Consumer and Business Services sued Swift Rock Financial, Wold Law Debt, World law Direct, World Law Group, World law Plan, ... Read More »

                    A Look at American Credit Shield and What They Are Offering

                    past due

                    A debt relief industry insider and tipster (send in your tips here) forwarded me a copy of an agreement they received from a consumer from a new company called American Credit Shield. The tipster (send in your tips here) said the consumer was being charged a fee of several thousand dollars to participate, a monthly fee and another fee that ... Read More »

                      Fresh Start Legal Advocates. Who Are They? And Then It Gets Weird.

                      Screen Shot 2013-06-21 at 10.24.20 AM

                      An interaction yesterday with a Kevin Jackson from Thomassen Law Group (if that is even a real entity) sparked my interest in Fresh Start Legal Advocates. Kevin referred to the party identified on the post card sent to consumers as “Fresh Start” and appears to indicate they are an affiliate or lead generator for Thomassen Law Group (I’m still unable ... Read More »

                        CFPB Suit Against Debt Relief Company Should Make Industry Very Afraid

                        Boom goes the dynamite.

                        Yesterday the Consumer Financial Protection Bureau filed suit against American Debt Settlement Solutions, Inc. and Michael DiPanni. If you are in the debt relief industry you need to become painfully familiar with this suit because it will make you soil your pants. For the first time the CFPB has laid out its hand on what they feel is an abusive ... Read More »

                          World Law Debt, Global Client Solutions and Others Sued in NC. TRO.

                          Screen Shot 2013-05-23 at 3.41.13 PM

                          Yesterday the State of North Carolina and the North Carolina State Bar filed suit against Swift Rock Financial, World Law Debt, World Law Group, Orion Processing, World Law Processing, Derin Scott, and Global Client Solutions. This suit is different than many others I’ve seen in that it is a joint effort by both the State Bar and the Attorney General. ... Read More »

                            FTC Catches Bogus Tech Support Scam and Then Finds a Debt Relief Company


                            The Federal Trade Commission announced a settlement over a bogus tech support service and accidentally found a debt relief company that was violating the Telemarketing Sales Rules in the process. Mikael Marczak, doing business as Virtual PC Solutions, and Sanjay Agarwalla were among the subjects of a series of six complaints filed by the FTC last September as part of ... Read More »

                              How Debt Settlement Employees Can Avoid Long Jail Time

                              Screen Shot 2013-05-08 at 12.08.58 PM

                              Yesterday a U.S. Attorney announced criminal charges against debt settlement company owners and employees for fraudulently selling debt relief services to consumers in financial trouble. The Indictment laid out a pattern of activity that many inside debt settlement companies will recognize, if they swivel their chair around. Sadly, what has been assumed to be the normal way to run a ... Read More »

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