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California Sues Credit Repair Business for Operating Illegally

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California Attorney General Edmund G. Brown Jr. today sued Todd Swick and Michael Sardo, owners of Los Angeles based Executive Financial Credit Services, for ignoring “repeated warnings” to register with his office and post a $100,000 bond with the Secretary of State. “Swick and Sardo violated California law by refusing to register their credit repair business with the Attorney General’s ... Read More »

    New York Files Criminal Charges Against Debt Collectors

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    Attorney General Andrew M. Cuomo today announced the filing of criminal charges against 12 employees of several Buffalo-area debt collection companies for posing as law enforcement officials and threatening to have consumers thrown in jail unless they immediately paid off the debts that they supposedly owed. All of the individuals charged today worked for one or more of the debt ... Read More »

      New Regulations to Restrict Debt Settlement Forms Becomes Law, Now.

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      Last year Attorney General Blumenthal in Connecticut fought to get new laws in place to protect consumers from debt settlement and debt negotiators that charge consumers and up-front fee to settle debts. The law has the following provisions: Obtain a Connecticut debt negotiators license and file a surety bond Not refer to state licensing or bonding as an endorsement Disclose ... Read More »

        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 »

          None of that Sissy Stuff

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          This made me laugh. Enjoy. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Get Out of Debt Guy – Twitter, G+, Facebook Are you tired of those sissy ‘friendship’ poems that always sound good, but never actually come close to reality? Well, here is a series of promises that actually speak of True Friendship. You WON’T ... Read More »

            Moneyworks, Clear Financial Solutions and Priority Direct Marketing Sued by MN Attorney General

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            Minnesota Attorney General Lori Swanson today filed three lawsuits against separate companies that promised consumers they would lower the interest rates on their credit cards in exchange for payments of up to $1,995 but then failed to provide the promised services. Swanson warned the public to be on guard against fly-by-night companies seeking high payments from consumers in exchange for ... Read More »

              No Personal Bankruptcy in Ireland, Jail Instead, But That Might be Changing

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              A few years ago I spent a lot of time in Dublin, Ireland working to put together a way to help people with bad debts to overcome their financial problems that did not result in them going to jail for consumer debts. As hard as it is to believe, the consumer bankruptcy process in the Republic of Ireland was all ... Read More »

                NDEBT4LIFE

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                My daughter saw this interesting license plate and snapped a picture of it to share with you. Oh so true. “In Debt For Life” Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Get Out of Debt Guy – Twitter, G+, Facebook 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 »

                    I Financed a New Demo Motorcycle Yesterday Even Though I Went Bankrupt.

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                    Yesterday, Pam and I decided that we wanted to buy a new motorcycle that had been the 2008 dealer demo and only had a few hundred miles on it. We decided to buy a 2008 Honda Goldwing, a big touring bike but an awesome ride. We have some trips coming up that we are going to love riding it on. ... Read More »

                      2009 NFCC State of the Credit Counseling and Financial Education Sector Address

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                      Below you will find the presentation given by Susan Keating of NFCC regarding the state of credit counseling in the United States. I was pleasantly pleased to find the NFCC talking about possibly leaving the door open to pursue offering debt settlement in the future, efforts to regulate the debt settlement industry, and an admission that the Call to Action ... Read More »

                        Glenn Beck says Bankruptcy is Good! Rush Limbaugh Has Already Been Bankrupt Once.

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                        Call me what you want, but I’m not a big watcher of FOX News. Other extended members of my friends and family worship Fox News, Glenn Beck and Rush Limbaugh. They would be described as members of the moral majority, the Christian conservative branch of the family. But yesterday I was on my motorcycle, riding down the road and I ... Read More »

                          Bouncing a Check Can Put You Behind Bars For Years in Dubai

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                          A recent New York Times article on the perils faced by debtors in Dubai, United Arab Emirates. More needs to be written about the impossible situation in Dubai when it comes to resolving debts faced by even your average person. I certainly have answered my share of debtor questions from people worried about their Dubai debts. Even in a modern ... Read More »

                            Three Mortgage Brokers Arrested in Handcuffs from Mortgage Refinance Scam

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                            California Attorney General Edmund G. Brown Jr. today announced that agents from his office have arrested Michael McConville, and two of his associates for their roles in a “criminal conspiracy” to steal nearly $1 million from borrowers seeking to refinance their homes. McConville and his co-conspirators lured dozens of borrowers into refinancing home loans by falsely promising low interest rates ... Read More »

                              “Bank of America’s Message to Me Was Tough Shit!”

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                              Certainly an impassioned point of view from a very angry Bank of America customer that feels strongly that she is not going to pay Bank of America one more penny. Here are some videos that responded to the original video or content. As you can see she has a few fans. Although the message could have better embraced by people ... Read More »

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