An amazing reader, Carol, sent in a new debt relief mailer through my I Buy Junk Mail program. What caught my eye at first was how the company sending out this mailer from Postal Permit 1297 is not identified on the envelope or the mailer. This clearly appears to be a lead generation mailer by some totally unknown company. Any ... Read More »
An amazing reader sent in a new debt relief mailer through my I Buy Junk Mail program. The offer sent out by a company identified as Life Financial planning, 575 Menlo Drive #1, Rocklin, California 95765 seems to be misleading on so many levels. I would urge anyone who receives a similar offer to conduct their own due diligence. While ... Read More »
The Federal Trade Commission recently filed a sealed complaint against Regency Financial Services, Ivan Levy; AKA Fidelity Holdings, Levy Fidelity Holdings, Ivan Levy Regency Holdings, BJI Enterprises. The FTC alleges the following in the complaint: “Since at least 2009, Regency, acting primarily through co-defendant Ivan Levy, has perpetrated a vehicle loan assistance relief services scam. Regency preys on consumers who ... Read More »
For debt relief companies who have been suffering from a lack of consumer demand, there is news out today that indicates demand might be increasing in the near-term. TransUnion says “total outstanding credit card balances increased 5% on a yearly basis. The increase indicates record growth, the highest yearly growth observed since 2008.” If this trend continues then in a ... Read More »
WASHINGTON, DC – Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP); Benjamin B. Wagner, United States Attorney for the Eastern District of California; and Kamala D. Harris, Attorney General for the State of California today announced that Ray Jan Kornfeld, 59, of Las Vegas, Nev., was sentenced on February 19, 2015, to five years in federal ... Read More »
The State of Connecticut Department of Banking has just announced a new enforcement action against The Purewal Law Group, Legal Network of America, and Settlement Corporation of America. According to the information provided, the parties named “shall immediately cease and desist from engaging or offering to engage in debt negotiation in Connecticut without a license, in violation of Section 36a-671(b) ... Read More »
On February 18, 2015 the Federal Trade Commission filed suit against PSC Administrative, Coastal Acquisitions, Infinity Client Solutions, Infinity Collect, Jared Irby, and Richard Hughes for violations of the Telemarketing Sales Rule. The FTC alleges the Defendants solicited consumers with debt relief services, who owed payday loans. “Defendants have induced consumers to enroll in their program by claiming that they ... Read More »
A reader send in some documents they said I would be interested in seeing. It relates to the 2013 Consumer Financial Protection Bureau (CFPB) lawsuit against Morgan Drexen that is still ongoing. My first thought was a disbelief this case was not further ahead. Then I read the document publicly filed in the case by the former Morgan Drexen co-founder, ... Read More »
Being in debt causes us to become paralyzed with uncertainty and that leads to inaction. I want to talk about why if you wait too long to take actin it can be a very expensive mistake. And while I did previously write Get Out of Debt Fast, But Don’t Run, you should not just stand still as well. When people ... Read More »
A friend sent in this announcement from the Department of Justice. Wow! A grand jury in Santa Ana, California, indicted three individuals for allegedly operating 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 announced. Jeremy Nelson, 29, Elias Ponce, ... Read More »
According to a HuffPo article, it seems our friends in Canada are beginning to worry a bit more about their personal debt levels. Data by Google shows the search term Pay Off Debt has been trending for Canadian searchers. From the looks of the chart though it is an on again, off again interest for Canadians who have hit a ... Read More »
A reader sent me a story about a Ft. Lauderdale debt relief company, Financial Help Services. It appears the Bobby Blackmon company has run into what is either an issue of not paying creditors for his Debt Management Plan clients or a serious case of poorly explained client expectations with creditors. In a bizarre move, Blackmon spoke to WSVN television ... Read More »
Legitimate Debt relief services are often boiled down to 3 categories, which include nonprofit credit counseling agencies, debt negotiators, and bankruptcy attorneys. I want to focus on the role of today’s credit counselors, and how they can fill a larger pair of shoes this year and beyond, with a keen focus on student debt. Student loan debt has rightly been ... Read More »
An amazing reader, Shawn, sent in a new debt relief mailer through my I Buy Junk Mail program. He received a mailer from Crestmont Funding for a debt consolidation loan. Shawn wanted to point out the BBB logo was prominently displayed. According to the BBB and the State of North Dakota, the company address is 3949 Highway 8 STE 109, ... Read More »
For some time now there has been an open action by the Illinois Attorney Registion and Disciplinary Commissions against Macey and Aleman of Legal Helpers Debt Resolution. Well the final report is out and it surprised me. Well, I wasn’t shocked that Macey and Aleman were recommended for a two year suspension as lawyers. But I was surprised how much ... Read More »
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