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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 Need More Help? Get Out of Debt Guy – Twitter, ... 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 »

        Allegro Law Debt Management Clients. Important Information to Get Better Service.

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        I’m reposting information that I had posted as a comment on the article about the Allegro Law debt settlement mess. I wanted to make sure that people who were Allegro Law debt management clients saw this important information. Attention All Allegro Debt Management Clients I have made special arrangements for you with Cambridge Credit Counseling to transfer your accounts to ... 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 »

            NY AG Goes After a Group of Buffalo Debt Collectors For Using Verbal Abuse and Sexual Harassment to Collect

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            Attorney General Andrew M. Cuomo today announced that his office has filed a lawsuit seeking to shut down a Buffalo-based debt collection operation consisting of 13 debt collection companies run by Buffalo residents Omar Smith, Narvell Benning and Keith Marshall (collectively, the “Benning-Smith Group”). Today’s announcement is the latest action in Attorney General Cuomo’s ongoing investigation of unlawful debt collection ... Read More »

              Missouri Attorney General Goes After Portfolio Recovery Associates and Professional Debt Management

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              Attorney General Chris Koster today filed suit against two debt collection companies that are operating scams to collect debts from citizens who do not owe the money. Koster filed law suits in St. Louis against Portfolio Recovery Associates, a public company based in Virginia, and Professional Debt Management located in Kansas City. Koster said Portfolio buys old and bankruptcy-discharged debt, ... Read More »

                New UK Debt Relief Trickery Now Labeled a Scam

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                Basil and Amanda Rankie in the UK took matters into their own hands when it came to dealing with MBNA, Capital One, HSBC, and other credit card debts. Using contract law in the UK they were able to get the court to nullify their credit agreements and wipe off their debt. This isn’t a new trick. There has been a ... Read More »

                  I Just Invested in 33 Loans to Help People to Get Out of Debt

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                  Lately I’ve been very impressed with LendingClub.com and the peer-to-peer model that they have developed to let individual investors participate in some small way in making loans to other people that need to borrow money. The LendingClub business model allows both borrowers and lenders to skip the banks completely and lend to each other. From the advertising revenue from this ... Read More »

                    My Credit Score is Dropping. Is Yours?

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                    I am pissed off. I carefully monitor my credit report and credit score. In fact I just refreshed my consolidated credit report again today and guess what, my score from all three credit bureaus has dropped. But the spread among all three is now 17 points different rather than the 19 points that it was. Credit scores are not designed ... Read More »

                      Where Has Credit Counseling Been on Pushing Ahead Alternative Dispute Resolution From BAPCPA 2005?

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                      Every had one of those times when something pops into your head and makes you say to yourself, “Why?” Recently I had an opportunity to look at a copy of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. I know, I know, not the kind of light reading you normally pick up. I was looking up something else ... Read More »

                        Do I Meet the Four Traits of a Top Financial Blogger?

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                        Earlier today a Twitter message passed by me with an interesting link to an article in the Globe and Mail about an article, ‘Four Traits of a Top Financial Blog‘. The article got me thinking about the subject so I thought I’d take a moment to revel myself to you. The Four Questions to Ask to Find a Good Personal ... Read More »

                          Peoples First Financial and FHA All Day in the News Again.

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                          Several loan modification companies made an appearance in a recent Atlanta Journal Constitution article, ‘Companies Promise Foreclosure Help, Don’t Deliver‘ about the dangers of loan modification or foreclosure rescue companies. Companies are facing both civil and criminal charges in different states for their actions which are generally considered to rip-off consumers by promising services these companies either can’t or don’t ... Read More »

                            The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey.

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                            I’m finally sitting back at my desk, at home, after my week long tour of the Northeast U.S., talking to people about the economy, money, credit, and debt. My travels took me from NC through VA, WV, PA, NY, VT, NH, MA, CT, MD. I traveled through some of the hardest hit counties in the Mid-Atlantic from these difficult economic ... Read More »

                              Photos From the Road. NY – Canada – NY.

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                              Still on my debt tour and wanted to share some views from the road today. Curious, certainly this isn’t an organized tour with people that share impaired vision from cloudy lenses inside their eyes. Is it? Niagara Falls, NY. A couple of real posers. Actually posing for pictures taken by their friends. Not the kind of thing you routinely see. ... Read More »

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