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Vanguard Consumer Solutions New Effort by Jeffrey Hyslip & Macey

Travelers Reflection

A tipster (send in your tips here) let me know about a website for Vanguard Consumer Solutions called FDCPA Help at fdcpahelp.com (ownership hidden). For those not familiar with Hyslip he was part of the Legal Helpers Debt Resolution debt settlement company that was the focus of a number of complaints. Apparently Hyslip is now trying to help consumers beat ... Read More »

    Western Sky Financial Pulls up Stakes

    Western Sky Financial Heads Into Sunset.

    You know those pesky Western Sky Financial payday loan commercials that have infected our televisions? They will soon be a thing of the past apparently. Western Sky Financial had been making payday loans all over the United States and charging problematic interest rates. The company felt they were exempt from state laws because they are owned and operated by the ... Read More »

      What to Wear and Say at Your Bankruptcy Hearing

      You don't need to dress like a fashion model but nobody is going to kick you out if you do.

      Actually, when it comes to what to wear, just don’t dress for a cookout. But as far as what to expect at your bankruptcy hearing, this article by Cathy Moran is great advice. Going to court for your first meeting of creditors? What are they going to ask me?, you wonder. My bankruptcy clients imagine a quiz on the contents ... Read More »

        More Florida Land Trusts Busted: Cambridge Land Trust and Hartford Land Trust

        wtf

        Thanks to a great reader, word out of Florida is more land trust schemers have been the unfortunate focus of law enforcement. The interesting part is how they all tie together. “The Florida attorney general’s office shut down two more South Florida land trusts Monday, continuing a yearlong pursuit to stop multiple intertwined firms from selling a complex foreclosure rescue ... Read More »

          Massachusetts One Step Closer to Regulating Debt Settlement

          law books

          Collections & Credit Risk is reporting the State of Massachusetts is a step closer to regulate for-profit debt settlement companies operating in the state. Debt settlement companies would have to disclose their fees and create a budget analysis before enrolling consumers. “The longer Massachusetts waits, choosing not to oversee this industry, the more consumers will be taken advantage of by ... Read More »

            Alleged Student Loan Assistance Employee Warns Consumers

            404 error

            Both the National Consumer Law Center and this site have provided warnings to consumers over student loan assistance programs that can do more potential harm than good. But an insider with a student loan assistance company and now tipster (send in your tips here) sent in the following warning for readers. “I’m not using my real name for employment reasons. ... Read More »

              Details on CFPB Lawsuit Against Morgan Drexen

              Screen Shot 2013-08-21 at 1.02.28 PM

              Yesterday I mentioned the Consumer Financial Protection Bureau filed suit against Morgan Drexen. As I mentioned, I said I would take more time today and wander through the complaint filed and share more about the allegations. If there was no doubt in the mind of any debt relief industry executive if the CFPB was set to regulate the industry, the ... Read More »

                Saving Easy Money As a College Student

                cheap

                Heading off to college for the first time or just another semester is a prime time to either unload your wallet or engage in some deep debt acquisition. But before you just spend, spend, spend there are some really simple and easy money saving tips that case ease the pain up to 35%. It can take you a few minutes ... Read More »

                  Morgan Drexen Sued by CFPB. Take That!

                  cfpb

                  Recently the debt settlement company Morgan Drexen sued the Consumer Financial Protection Bureau, CFPB, hoping they would be declared unconstitutional and disbanded. For more, see this and this. Today the CFPB turned around and unloaded their long-term investigation into Morgan Drexen and filed suit against them. I’ll review the entire lawsuit tomorrow but for now, here is what the CFPB ... Read More »

                    Student Loan Debt Robs Many of Retirement

                    Screen Shot 2013-08-20 at 4.20.56 PM

                    A new report out by the public policy organization Demos, confirms what I’ve feared for too long. Student loan debt robs people of retirement wealth. The growing burden of student loan debt and the limited options to manage that debt are leading to more and more people becoming so caught up in financial slavery that their very ability to properly ... Read More »

                      Thom Fox Interviews Steve About Debt Relief Options

                      a manatee

                      Thom Fox co-hosts a radio show “The Engine” and spent some time talking to me recently about the debt relief world today and what good options are available for consumers. It was a great interview since Thom knows the credit counseling world like a Boss! He used to work for Cambridge Credit Counseling but has moved out on his own ... Read More »

                        People Still Falling for Land Trust Mortgage Rescue Scam

                        oops

                        The one thing you have to admit about a scam is once it works and extracts money from consumers, it’s got some legs and has morphed and continued on longer than I expected it to. As part of the continued slow descent into the black pit of “Why?” more information is coming out about how unhappy people are with the ... Read More »

                          Consumer Advocacy Assistance Mortgage Modification Mailer – Watch Out

                          Screen Shot 2013-08-16 at 12.16.31 PM

                          A group, Consumer Advocacy Assistance, who reports to being located in Laguna Hills, California sent a mortgage modification mailer to a consumer in New Jersey. The mailer appears to be an official mailer from the Loss Mitigation Administrative Office. Frankly it looks like the standard B.S. mortgage modification mailer many have received. An amazing reader Hanna sent in a new ... Read More »

                            Disappointing Debt Relief Mailer Leads to Debt Defense Services

                            debt_settlement_scam_envelope

                            A new debt relief mailer, which you will see below, poses as an official document but in fact leads to a potential sale for Debt Defense Services according to the tipster (send in your tips here). What do you think, is the mailer deceptive or perfectly fine from your point of view? Add your comment below. An amazing reader CLK ... Read More »

                              FTC Gets Ass Kicked on Appeal and Wins at Same Time

                              mistakes

                              Back in 2012 the FTC lost a case it had brought against Corey Butcher, Brent Butcher, and Financial Freedom of America, Financial Freedom Processing. The case was one where the FTC said the performance statements made by the debt settlement companies were not accurate and could mislead consumers. In what seemed like a ruling from an alternate universe, the judge ... Read More »

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