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Debt Relief Industry

Debt Relief Companies and Individuals – Banned

Shirtless young man outdoor doing silly face

The Federal Trade commission is reporting more actions against debt relief providers that allegedly misled consumers about their services. While this is about a debt settlement company, all consumers should walk away with the fact they have a responsibility to know who they are doing business with. Buying defective debt relief help is no more egregious than buying a defective ... Read More »

    It’s Over – Debt Relief Trial of Otto Berges and Consumer Protection Counsel

    closeup of a gavel on cash, from above

    In checking on recent updates, it appears the court case I reported on regarding Otto Berges, Consumer Protection Counsel, Berges Law Group, and Debt Be Gone; is over after a quick day or so trial. For those that want to read the backstory, click here. It looks like Berges and others named in the case by the consumer have lost ... Read More »

      More Twists and Turns in Morgan Drexen Case Now Involving Howard Law

      courthouse 2

      Last week the Consumer Financial Protection Bureau (CFPB) deposed Walter Ledda, the former man in charge of the debt settlement company Morgan Drexen. Ledda disclosed some information that made the ears of the perk up a bit and they filed a new court document. Rather than rehash the entire background of this multi-year court action between the CFPB and Morgan ... Read More »

        Working On a Story – Did the CFPB Call and Threaten Your Debt Relief Company?


        I’m working on a story about the CFPB calling debt relief companies and saying, “Hello this is ___ from the CFPB calling about an enforcement matter, please call me back immediately.” Companies that are calling back do not have an enforcement matter but are being pitched to register for the CFPB online portal. If your company has received such calls, ... Read More »

          Another Attorney Runs Into the Connecticut Department of Banking


          You’d think attorneys would avoid issues with the Connecticut Department of Banking, but you’d be wrong. Another attorney has received their unwanted attention for debt relief issues. “MATTERS ASSERTED 1. Pullin Law is a professional corporation organized under the laws of the State of New York with offices located at 7600 Jericho Turnpike, Suite 402, Woodbury, New York; 3075 Veterans ... Read More »

            Rescue One Financial Hit with Class Action Suit by Howard Law

            Hello I Am Suing You words on a name tag sticker informing that someone is bringing a lawsuit against you in a court of law

            While working on another article I came across the case below. I’ve written articles recently about debt relief companies and the exposure of Telephone Consumer Protection Act claims. Michael Perri v. Rescue 1 Financial “1. Defendant Rescue 1 Financial, LLC (“Defendant” or “Rescue 1”) is a national financial services company that focuses on consumer debt management such as: debt settlement, ... Read More »

              Is Howard Law a Victim in the Morgan Drexen Case?


              Rather than rehash the relationship between Howard Law and Morgan Drexen, click on the links to their names for the backstory. Recent court documents present an argument by Howard Law that the CFPB action and closure of Morgan Drexen should not involve them or their clients. “When the CFPB initiated the underlying action (the “Action”) against Morgan Drexen, Inc. (“Morgan ... Read More »

                Walter Ledda, Working as Temp in Poland, Caught By Surprise in Morgan Drexen Case

                The actual granular data presents a surprising reality.

                New public documents filed in the Morgan Drexen case paint a picture of Walter Ledda caught by surprise by the turn of events. These excerpts are from the documents shown with the source link. You can click on those documents to read the full original filing. In the first document, Ledda represents the recent CFPB action caught him by surprise. ... Read More »

                  World Law and Orion Processing – Raided – Frozen

                  afraid alone

                  Last week the CFPB raided Orion Processing’s headquarters after obtaining a search warrant. The CFPB filed a complaint last Monday, and obtained a Temporary Restraining Order (TRO) last Tuesday, which was under seal until late yesterday. With the TRO, the CFPB also obtained an asset freeze on all of the defendants’ assets. The defendants include Orion Processing, Derin Scott, David ... Read More »

                    Morgan Drexen Bankruptcy Update for August 25, 2015

                    Bankruptcy Road Sign

                    As part of the public record, the bankruptcy trustee in the Morgan Drexen bankruptcy has just posted a very interesting update. The document was filed on August 24, 2015 and here is what it says. The Trustee states the Morgan Drexen business has been wound up and 15,000 letters were sent to “Affected Customers” notifying them of the facts surrounding ... Read More »

                      No Big Changes Seen in Debt Relief Sales

                      Nr. 61

                      For debt relief companies who sell services to consumers with unsecured debt, new data out from TransUnion says demand for debt relief services should remain relatively flat. “The credit card delinquency rate (the ratio of borrowers 90 days or more delinquent on their general purpose credit cards) remained steady at 1.19% in Q2 2015. The delinquency rate was relatively unchanged ... Read More »

                        Recent Job Postings for Debt Relief Experience


                        Here are some current job posting in the debt settlement industry that I found. Student Zoom Debt Settlement Sales Representative Student Zoom, LLC – San Diego, CA $1,600 a month Hello, We’re looking for a highly motivated salesperson with experience selling Debt Settlement preferably through Freedom Debt Relief or DMB. Our ideal candidate is someone who enjoys helping others, is ... Read More »

                          Who is Prospectus Financial in Boca Raton, Florida?

                          Adult Ed - Questions

                          I received an email from a tipster (send in your tips here) about some company named Prospectus Financial in Boca Raton, Florida. I was unable to locate a website for the company but I did located job postings for Debt Resolution Specialists. – Source It is hard to interpret exactly what Prospectus Financial is offering but it sounds as if ... Read More »

                            Andris Pukke From Ameridebt Still Dealing With Courts

                            Andris Pukke

                            A tipster (send in your tips here) mentioned something about Andris Pukke still dealing with his criminal case filed by the United States in 2010. Pukke, as you may remember, was charged with crimes related to his debt relief activities and wound up eventually serving jail time. You can see the back history if you click this link. FYI, it ... Read More »

                              Howard Law Responds to CFPB Claims


                              Recently I wrote about filings by the Consumer Financial Protection Bureau (CFPB) in the Morgan Drexen case. The CFPB said, “Aside from going to great lengths to continue Morgan Drexen’s debt relief scheme and collect fees from Affected Consumers, the Attorneys engaged in numerous tactics designed to ensure consumers would—at a minimum—be confused about their rights, if not misinformed.” – ... Read More »

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