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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 »

        Is Your Lover an Oniomaniac and Likes to Perform Oniomania With You in Public?

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        I think most of us are aware of the normal sexual dysfunctions like Nymphomania, the “Sex Buddy” Syndrome, Persistent Sexual Arousal Syndrome and now we have condition that you need to watch out for, oniomania. By now I’ve got your attention but I’ll have to let you down easy, oniomania isn’t a sexual dysfunction, it’s a shopping dysfunction. Sometimes the ... Read More »

          Debt Collector That Called People Loser for Not Paying Their Debts Just Went Bankrupt

          I don’t think people who go bankrupt are losers or morally corrupt. Most people are just good people stuck in the middle of a really bad situation. But people do feel bad about the situation and often feel less than whole for having lived through the need to file bankruptcy. But I could not help chuckle at the irony here ... 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 »

                Illinois Attorney General Madigan Sues Company Making Debt Reduction Promises

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                Illinois Attorney General Lisa Madigan today filed a lawsuit targeting a telemarketing scam that promises to immediately reduce consumers’ credit card interest rates but ultimately fails to achieve any savings for consumers. “During these difficult economic times, consumers are understandably looking for ways to ease the burdens of rising debt,” Madigan said. “But I urge consumers to be wary when ... Read More »

                  85% of Debt Settlement Companies May Be Closing Soon and Taking Your Money With Them

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                  There is no doubt that the workshops and hearings by the Federal Trade Commission (FTC) are going to result in changes that will significantly impact the debt settlement industry. The FTC has been carefully looking into the industry and is disgusted with the actions of many companies. These would be the companies that charge large up-front fees to consumers, collect ... Read More »

                    The Second Attribute to Getting Out of Debt – Gratitude

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                    This is an excerpt from my ebook “The Path to Happiness and Wealth” that you can download for free here. The Second Attribute – Gratitude You know someone has achieved internal prosperity if they are grateful for the life they have. So, if someone else does something kind for you, be grateful. The only thing you are entitled to in ... Read More »

                      Key Steps to Get Out of Debt

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                      I’m working on a potential new application you can download, in my spare time, LOL. As part of that application I wanted to create a short list of what I felt the key actions or beliefs needed to break the bonds of debt and it got me thinking. Here is what I came up with. What do you think? Key ... Read More »

                        Why Won’t Credit Cards Settle With Me But Will Settle With a Debt Settlement Company?

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                        A questions I get asked from time-to-time is “Why won’t credit cards settle with me but will settle with a debt settlement company?” Good question. And while some settlement company may proclaim it is their contacts or wonderful talent, it is often just luck. I asked Michael Bovee of the Consumer Recovery Network to provide you with some insight into ... Read More »

                          Florida Attorney General Wants Debt Settlement Companies to Put Up Before You Pay Up

                          Florida Attorney General Bill McCollum today announced that he has co-sponsored a letter to the Federal Trade Commission (FTC), asking it to amend a federal rule that would require debt relief service companies to provide services before collecting any fees. The letter was also sponsored by the Attorneys General of Illinois, Maryland, and Washington. Debt relief is an umbrella term ... Read More »

                            40 States Band Together to Regulate Debt Settlement Companies

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                            The attorneys general of Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Iowa, Kansas, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Vermont, Washington, West Virginia and Wyoming have written to the Federal Trade ... Read More »

                              DebtZero Tells You How to Make Money in the Debt Settlement Business

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                              I stumbled across the DebtZero website this morning, quite by accident. But once I took a look around I had to share it with you. DebtZero appears to sell access to or a business opportunity to let people make money selling debt settlement services and brags about how much money can be made. Your income will be generated from enrollment ... Read More »

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