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Morgan Drexen Throws Hail Mary, Sues Consumer Financial Protection Bureau

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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 »

    A Look at Sallie Mae and Other Student Loans Discharged in Bankruptcy in 2012

    Bankrupt

    This article is part of my ongoing look at the possibility of discharging student loans in bankruptcy. It is a followup to my article here where I looked at federal student loans that received a modification, settlement or elimination as part of a bankruptcy adversary proceeding filing in 2012. This time I’m taking a look just at the cases in ... Read More »

      Paul Gellenbeck and Fidelity Land Trust Facing Criminal Contempt

      Jail

      A tipster (send in your tips here) shared a court document with me showing the State of Florida being none to happy about the continued marketing efforts of Paul Gellenbeck and Fidelity Land Trust after a September 25, 2012 temporary injunction and asset freeze filed by the Office of the Attorney General in Florida. See this article. It appears just ... Read More »

        Work-At-Home Marketer Settles With FTC

        ftc

        Christopher Andrew Sterling, a work-at-home opportunity marketer, has been banned from selling work-at-home and business opportunities under a federal court settlement. The FTC sued Sterling in November 2012 as part of “Operation Lost Opportunity,” a federal-state crackdown on scams that falsely promised jobs and opportunities to “be your own boss” to people who are unemployed or underemployed. The agency charged ... Read More »

          USA Student Loans – Review. Are They a Scam?

          Audit Stamp Shows Financial Accounting Examination

          A reader asked me to take a look at USA Student Loans and review the site for the,. Here is my review. Company Name USA Student Loans Our Impression of What the Company Offers to Consumers The company appears to be offering the same solutions available to consumer for free from the Department of Education. The company appears to fall ... Read More »

            Canadians Targeted in Student Loan Assistance Scheme From U.S.

            inside

            The flurry of student loan assistance programs exploding is the latest debt relief pitch rolling out. I’ve covered these here, here, here, and here. An amazing reader sent in a new debt relief mailer through my I Buy Junk Mail program. The consumer lives in Canada but the mailer came from the same notorious postal permit 1297 in Sacramento, California. ... 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 »

                  Debt Reduction Defendants Banned From Telemarketing

                  banned2

                  Operators of Credit Card Interest Rate Reduction Scheme Barred from Telemarketing, Will Turn Over Funds Frozen by Court The Arizona-based defendants behind an alleged fraudulent credit card interest rate reduction scam will be permanently barred from the telemarketing business, and must turn over all of their remaining funds, in order to settle Federal Trade Commission charges. As part of the ... Read More »

                    Credit Counseling Services and the Bankruptcy Conundrum

                    SONY DSC

                    A press release out by Advantage Credit Counseling Service drew me to their site today. – Source. While there I came across a good example of the ethical conundrum facing nonprofit credit counselors today. Advance Credit Counseling Service is not alone in dealing with this problem. According to the Advantage Credit Counseling Service website they are a proud member of ... Read More »

                      Inexpensive Wines and Student Loans – Ask Steve – Episode 1

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                      This week on Ask Steve I answer reader and viewer questions on how to find an inexpensive wine and what to do about student loans if you are unemployed. In the first question my team and I tasted ten of the least expensive wines in an attempt to find some good deals for little money. Surprisingly, there were some quite ... Read More »

                        Federal Student Loans Discharged in Bankruptcy. A Look at the Surprising 2012 Data and Cases.

                        The actual granular data presents a surprising reality.

                        The more I research and study the reality of dealing with student loans through bankruptcy the more I am under the opinion the data does not support the assumptions many have that no good options are available in bankruptcy for student loans. In fact my research appears to show that even for government backed student loans there are some significant ... Read More »

                          Student Loan Alliance Teaches Credit Counselors What About Student Loans?

                          don't believe

                          Student Loan Alliance put out a press release earlier this week talking about the training they were giving credit counseling agencies in order to deal with student loan problems. Student Loan Alliance says the credit counseling agencies that participate in their approach and training are The participating organizations are: Consumer Credit Counseling Service of Greater Dallas, Consumer Credit Counseling Service ... Read More »

                            A+ Financial Center Scheme Settles With FTC

                            ftc

                            The Federal Trade Commission has settled with a set of defendants associated with the A+ Financial Center scheme. They were charged in last year’s joint law enforcement sweep against five companies that made millions of illegal pre-recorded robocalls claiming to be from “Rachel” and “Cardholder Services” and pitching credit card interest rate reduction services. In the five complaints announced in ... Read More »

                              Debt Defense America Brings Us More Debt Dispute Foolishness

                              wtf

                              Recently Michael Bovee and I collaborated on an article about the debt validation/debt dispute services being sold by Debt Defense Services. You can read that article, here. Right on the heels of that article I received a document from a tipster (send in your tips here) about a similar sounding company, Debt Defense America. It seems these debt dispute services ... Read More »

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