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CFPB Says if Morgan Drexen Owes You Money You Are Potentially SOL

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The Consumer Financial Protection Bureau has finally taken down the old Morgan Drexen website and put up a message of their own. See MorganDrexen.com for the latest version of the CFPB informational message. But yesterday on the CFPB website they put up advice and information for consumers who were harmed in the Morgan Drexen / Walter Ledda debacle. The most ... Read More »

    Foreclosure Rescue Scam Wins Woman Nearly 4 Years in Jail

    Dead man walking - Sad prisoner with handcuffs in prison with orange clothes

    Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), and Benjamin B. Wagner, United States Attorney for the Eastern District of California, today announced that Tamara Tikal, 45, of Rio Vista, California, was sentenced on July 16, 2015, by United States District Judge Troy L. Nunley to three years and nine months in federal prison for her ... Read More »

      Debt Relief Companies Urged to Shut Down Autodialers

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      Last week the Federal Communications Commission rolled out new rules that will significantly impact any debt relief companies with an autodialer. The penalties are significant if you get caught violating these rules. I would expect to see new lawsuits against debt relief companies for violating the Telephone Consumer Protection Act (TCPA). Collections & Credit Risk did a great job covering ... Read More »

        Debt Relief Advocates Sued in Ohio Over Claiming Debt Owed, But Not

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        I was alerted to a lawsuit that was filed yesterday against Debt Relief Advocates, out of Plano, Texas. The suit claims the consumer was approached with an offer to settle their debt and wants to turn this action into a class action lawsuit against Debt Relief Advocates. But what makes this suit interesting and newsworthy is the allegation made by ... Read More »

          CFLA Agent Apparently Goes Rogue

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          It appears an agent of Certified Forensic Loan Auditors went rogue and tied the name of the company to some unfortunate activity. According to the State of Connecticut, a James Graham, CFLA Agent, was selling debt relief services in the State and managed to run into trouble with the Department of Banking. The State of Connecticut says, “WHEREAS, James D. ... Read More »

            Home Tech Group Gets Unwanted Attention in CT & WA

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            The State of Connecticut Department of Banking just published information on Home Tech Group, LLC out of South Dakota, Arizona, and California and they claim the company was operating in Commecticut without a license. MATTERS ASSERTED 1. At all times relevant hereto, Respondent was a South Dakota limited liability company with offices at 3213 W. Main Street #239, Rapid City, ... Read More »

              New Crestmont Funding Credit Counseling Debt Consolidation Mailer Reviewed

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              An amazing reader Shawn sent in another new debt relief mailer through my I Buy Junk Mail program. Shaw sent in another mailer received from Crestmont Funding. This one is different than the one I reviewed in this article. That other article has more information on Crestmont Funding than this one does. The new debt consolidation loan mailer is signed ... Read More »

                Serial Debt Relief Scammers Back at it Again in Florida

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                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 »

                  CFPB Targets Student Loan Assistance Advertising

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                  Yesterday the Consumer Financial Protection Bureau (CFPB) sent letters to search engines and asked them to beware of those companies offering up student loan assistance advertising. The letter said: “I am writing to alert Google that student debt relief scammers may be targeting student loan borrowers through the company’s search products. There are over 40 million Americans who collectively owe ... 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 »

                      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 »

                        Deceptive Mailer Spoofs Department of Treasury for Debt Relief

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                        An amazing reader sent in a new debt relief mailer through my I Buy Junk Mail program. This one is rather alarming. I doubt the average person would see through what I think is a smoke screen to understand what just landed in their mailbox. From outside appearances the letter looks like some sort of legal documentation, maybe governmental with ... Read More »

                          OMG, Morgan Drexen Loses Yet Again

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                          Poor Morgan Drexen has been getting the shit kicked out of them lately. Just today another blow was delivered by the Colorado Supreme Court who found their attorney model flavor of debt settlement did not give them a free pass to avoid the advance fee laws under an attorney exemption. “The supreme court holds that the trial court erred by ... Read More »

                            Flush – Meracord / NoteWorld

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                            A fantastic reader / tipster (send in your tips here) sent me the following press release. Anyone know what Linda Remsberg is doing now? I looked at noteworld.com and that redirects to Evergreen Note Servicing (notecollection.com) (which appears to actually be Evergreen Escrow, Inc.)and Meracord.com goes to a non-existent site. Interestingly, Evergreen Note Servicing sounds a hell of a lot ... Read More »

                              Smart Money Management New Name for Merged Companies

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                              The Blade is reporting two Ohio based debt relief companies have merged. “Toledo-based Comexx Smart Money and Sylvania-based Debt Tech Financial Solutions are now one company that will be called Smart Money Management LLC. The new company has 12 employees. “Today, Smart Money Management is better able to address an individual or family’s total financial disposition as the addition of ... Read More »

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