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Debt Relief Industry

Nationally Sanctioned Debt Reduction Initiative Mailer – Beware

Mailer

An amazing reader sent in a new debt relief mailer through my I Buy Junk Mail program. These debt reductions mailer are infuriating to me. I mean let’s at least try to tell people the information in a way that can make some sort of logical sense. And it would be nice to see mailers that were open about being ... Read More »

    Certified Debt Reduction Notice – Utter BS

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    So this Certified Reduction Notice arrived in the mailbox of one of my amazing readers. I have no clue what make this notice “certified.” Certifiable is more like it. The sales letter, that’s what it is, arrived in a plain envelope with little identifying information The letter inside doesn’t even say who the company is behind this. The claims made ... Read More »

      Connecticut One Strike Ruling for Consumer Law Group – Barred

      monster under bed

      The Connecticut Department of Banking has released information on a recent action they took against Consumer Law Group. It’s mostly the same stuff Connecticut goes after but in this case the State took a new action they might use more often; they barred the company from the state. The State said: “WHEREAS, Consumer Law Group, through its execution of this ... Read More »

        Debt Relief Scammer Denny Lake Folds to the FTC

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        The following legal action by a debt relief industry entity, should serve as a good example of the tie that binds both affiliates and marketers and the company who is providing the service. Denny Lake, the final individual defendant in a mortgage modification scam aimed at financially strapped homeowners, will be banned from selling debt relief and mortgage-related products and ... Read More »

          Community Debt Relief Mailer Gets Them in Trouble

          Debt Relif Offer

          An amazing reader faxed in a new debt relief mailer through my I Buy Junk Mail program. Thank you so much K for sending in this mailer from Community Debt Relief in Grand Rapids, Michigan. What struck me immediately is the BBB logo at the top of the letter. It looks like I’m not the only one who spotted that ... Read More »

            Consumer Credit Card Debt Not the Biggest Problem in 2015

            Inside view of an antique combination lock of bank Mandiri in Jakarta, Indonesia

            This morning, New York Fed President William Dudley spoke to the press about the growing resilience of the U.S. household sector. His speech was followed by a briefing by New York Fed economists on developments in household borrowing. Their presentation included a detailed decomposition on mortgage borrowing and payment trends, and some new research on how borrowing has evolved differently ... Read More »

              Debt Relief Scammer Headed to Jail After Pleading Guilty

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

              An Orange County, California, man pleaded guilty today for his role in operating fraudulent debt relief firms 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, 30, pleaded guilty to one count of an indictment alleging conspiracy to commit mail fraud and ... Read More »

                ClearPoint Credit Counseling: The Latest TCPA Victim

                Cure the disease

                Update According to Thomas Nitzsche with ClearPoint, the case below has been dismissed. In what is becoming a series of Telephone Consumer Protection Act (TCPA) cases against debt relief companies, ClearPoint Credit Counseling has become the latest target. On December 23, 2015, ClearPoint was sued in a class action case in California. The Plaintiff claimed ClearPoint secretly recorded conversations, placed ... Read More »

                  Former Morgan Drexen Exec & Owner Shares Lessons Learned

                  future

                  I owe a tremendous debt of gratitude to Rita Augusta, a former owner and executive with Morgan Drexen, the debt settlement company who went on to be shutdown by the Consumer Financial Protection Bureau. Rita not only was brave enough to share the valuable advice below about lessons learned for consumers, but she also assisted the CFPB in their case. ... Read More »

                    National Foundation for Credit Counseling®, American Library Association Join Forces to Better Serve Military and their Families

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                    Members of the U.S. armed forces, Coast Guard, veterans, and their families face financial challenges often not adequately addressed by resources designed for the general public. Two leading nonprofit organizations are now working together to deliver financial education solutions to members of the military and their families in libraries across the country. The National Foundation for Credit Counseling® (NFCC®) and ... Read More »

                      What I Learned From Selling Debt Relief Services. What I Got Wrong and Right On the Front Lines.

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                      (Originally published October 11, 2010) I had this idea for an article to look back to my early days in the debt relief world, back when I was running Myvesta, a non-profit credit counseling group, and show you examples of what I did wrong and learned from the experience. The irony is people don’t realize when I review a site ... Read More »

                        Jeffrey Aleman of Legal Helpers Does a Good Thing in Wisconsin

                        Legal Helpers Debt Resolution | (877) 596-6865 (20111202)

                        Attorneys who were involved in the debt settlement firm Legal Helpers Debt Resolution eventually faced all sorts of legal issues, lawsuits, and the loss of their law license. Now I don’t know if there was any bigger strategic plan for doing what I’m about to tell you but for once, an attorney in this mess looks like they stepped up ... Read More »

                          Student Loan Consolidation & Payment Reduction Program Mailer

                          student loan mailer

                          An amazing reader sent in a new debt relief mailer through my I Buy Junk Mail program. As you will see below, the reader received a mailer that I think could confuse some people. The mailer talks about a Student Loan Consolidation & Payment Reduction Program that they are eligible to use. I did enjoy the call to action that ... Read More »

                            Reader Sends in 321Loans Mailer From MarkSYS Which Raises Questions

                            321Loans Mailer Front

                            An amazing reader sent in a new debt relief mailer through my I Buy Junk Mail program. Recently I wrote about a company named 321Loans. A different reader had sent in a contract for me to review. If you read my article, here, you will see there were some questions raised that the company has not responded to. One of ... Read More »

                              It Never Ends. Another Debt Settlement Mailer or Something Like That.

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                              An amazing reader sent in a new debt relief mailer through my I Buy Junk Mail program. There is nothing super new in this mailer except I see the marketers are offering even more fantastic debt reduction claims of 70% settlements. Of course the problem with this, in this mailer, is there is no indication of who sent the mailer ... Read More »

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