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Serial Debt Relief Scammers Back at it Again in Florida

oops

The Federal Trade Commission (FTC) has had to invest loads of money again to police the debt relief industry to go after more false promises and schemes to sell people worthless services. Every time something like this happens and the debt relief industry doesn’t police itself, it only hurts all the good companies out there who want to play by ... Read More »

    Worthless Illegal Robocalls Pitching Credit Card Interest Rate Reductions – STOPPED

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    Another Action Targeting Robocalls from “Card Member Services” At the request of the Federal Trade Commission and the Florida Attorney General, a federal district court has temporarily halted an Orlando-based operation that has been bombarding consumers since 2011 with massive robocall campaigns designed to trick them into paying up-front for worthless credit card interest rate reduction programs.  The court order ... Read More »

      Here is Exactly Why People Who File Bankruptcy Are Smart

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      I seem to spend a lot of time educating people that most everything they know about bankruptcy is just plain wrong. In fact a friend of mine just told me they were going to file bankruptcy and my answer was, “congratulations.” You see, even studies by the Federal Reserve Bank of New York have come to the same conclusion I ... Read More »

        Can Search Engines Stop Student Loan Scammers?

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        If you’ve checked your spam folder recently, you know that offers of student loan debt relief have exploded right along with the student loan debt problem. You probably know it’s a bad idea to answer spam in a quest to lower your loan payments, but you might be more inclined to answer an advertisement you see on a major search ... Read More »

          Why We Need to Stop Sneering at Millennials

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          I’m the perfect age (um, let’s just say in my 50s) and profession (CPA and credit counselor) to insult Millennials. They’re idealistic. They don’t work hard. They need constant care and feeding to do their jobs. On and on. Except I don’t believe any of that. While my parents were the Greatest Generation, I believe my children will eclipse them. ... Read More »

            Kesher Law Group is Offered Up by Reader

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            In response to a previous article about the demise of Morgan Drexen a reader said I should take a look at Kesher Law Group. Kesher Law Group According to the State of California, Kesher Law Group, P.C. was formed on April 3, 2015 and is located at 675 Anton Boulevard, 2nd Floor, Costa Mesa, CA 92626 and the agent is ... Read More »

              Door Slams Hard on Morgan Drexen Debt Settlement Company

              M.D. Anderson's Houston Main Building is imploded Sunday, Jan. 8, 2012, in Houston. Opened in 1952 the 20-story building was the regional headquarters for Prudential Insurance Company. Prudential sold the building in 1975. ( Nick de la Torre / Houston Chronicle )

              Surely a bunch of people at Morgan Drexen are blaming the U.S. Government and Consumer Financial Protection Bureau (CFPB) today for the utter demise of Walter Ledda’s creation, Morgan Drexen, on Friday. An insider told me over the weekend, “Just letting you know the court ordered Morgan Drexen’s trustee to seize operations immediately. Morgan Drexen was shut down today at ... Read More »

                Oh China, You So Funny. This is Going to Hurt.

                1280px-Chinesische-mauer

                According to Shanghai Daily, consumer debt is rolling out to middle and low-income earners in China and in my opinion this will just leave innocent people slaughtered by easy credit. Imagine living in a country where easy credit has never been available and then having your first taste of it. It will be like doing meth for the first time ... Read More »

                  UK Kicks U.S. Ass When it Comes to Debt Relief Options

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                  Not all that long ago I actually moved to the UK to study the benefits of debt relief options there. There are familiar U.S. based creditors in the UK but they handle debt relief entirely differently. While the U.S. struggled with disreputable debt settlement providers, the UK required debt relief providers to actually hold a debt relief license and be ... Read More »

                    Kickstarter Project Creator Nailed for Fraud

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                    In its first case involving crowdfunding, the Federal Trade Commission has taken legal action against the deceptive tactics of a project creator who raised money from consumers to produce a board game through a Kickstarter campaign, but instead used most of the funds on himself. The defendant has agreed to a settlement that prohibits him from deceptive representations related to ... Read More »

                      Debt Relief Owners and Salespeople Headed to Jail for Fraud

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                      On June 9, 2015, a federal jury convicted three California residents who worked at a Rancho Cucamonga, Calif., business that offered bogus loan modification programs to thousands of financially distressed homeowners who lost more than $7 million when they paid for services, including loan modifications, that were never provided. The three Southland, Calif., residents were associated with a telemarketing operation ... Read More »

                        How to Ditch Your Corinthian College Student Loan Debt

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                        Yesterday, the U.S. Department of Education announced new steps to protect students from abusive for-profit colleges, as well as a new debt relief process for students at Corinthian Colleges – which operated schools under the names Everest, Heald, and Wyotech. Information for borrowers is available at the Federal Student Aid (FSA) website, at our new toll-free number for Corinthian students ... Read More »

                          Retention Law Center Runs Into Issues

                          Bitch Slap

                          The Connecticut Department of Banking has just published a consent order with Michael Mazal, Esq and Retention Law Center. The consent order says, “Mazal is an individual, who at all time relevant hereto, was the sole-proprietor of Retention Law Center, a purported California company, with an office at 16808 Armstrong Avenue, Suite 180, Irvine, California.” It additionally says Retention Law ... Read More »

                            Why Your Student Loan Debt Might be Bogus and Uncollectable

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                            Over the past decade we’ve seen a number of scandals floating around debt ownership and robosigning. That’s the process where creditors swear they are the real owners of a particular debt but can’t actually produce the proof when pushed to. And sense most consumers fold up into a ball and mostly never fight back when they are sued over old ... Read More »

                              Two Debt Settlement Individuals Plead Guilty to Conspiring to Defraud Consumers through Fraudulent Debt Relief Services Firms

                              mans hands behind bars in jail or prison

                              Two individuals pleaded guilty today for their roles at fraudulent debt relief services companies that offered to settle credit card debts but instead took victims’ payments as undisclosed up-front fees, the Justice Department and U.S. Postal Inspection Service (USPIS) announced. Athena Maldonado, 30, and Christopher Harati, 31, both of Orange County, California, pleaded guilty to a one-count information alleging conspiracy ... Read More »

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