Easy Money and Bad Credit Loan Brokers Nailed by FTC

A lead generation company that collected sensitive information from millions of consumers under the guise of connecting them with lenders will pay $1.5 million in civil penalties and face restrictions on their operations as a result of a Federal Trade Commission lawsuit. The FTC’s complaint alleges that since at least 2012, ITMedia Solutions LLC, a … Read more

Has the Consumer Debt Relief Initiative Hijacked the AFCC

Question: Dear Steve, The recent announcement by the AFCC regarding third-party ancillary products has caused a huge divide within the AFCC, with most believing the AFCC has been hijacked and moving over to CDRI (Consumer Debt Relief Initiative). It seems the good old boys are trying to gobble up market share by either putting the … Read more

Is Dave Ramsey and Ramsey Solutions a Sinner or a Saint?

Recently it came to my attention that Dave Ramsey, Ramsey Solutions, and The Lampo Group have been the subject of employee lawsuits in the last year. For an employer of the size of the Ramsey enterprises, I suppose that is not a rarity. But what has struck me is the issue of the companies and … Read more

I Was a Bait and Switch Debt Relief Sales Person

For years now I’ve written about debt relief companies that have used the personal loan mailers as a way to make the phone ring and then sell them some sort of debt settlement, debt relief, or modification service. Commissioned or otherwise incentivized salespeople get those leads and then attempt to close the sale or manipulate … Read more

Lexington Law and CreditRepair.com Get Exposed

Back in 2019, the Consumer Financial Protection Bureau (CFPB) filed suit against PGX Holdings, Progrexion Marketing, Progrexion Teleservices, eFolks, CreditRepair.com, Lexington Law, and John Heath. I’ve kept an eye on the case against the credit repair operations but much of it has occurred behind closed doors under sealed documents. But we now have a public … Read more

Update on Case Against Premier Student Loan Center

It appears the case against Consumer Advocacy Center and Premier Student Loan Center is still under management by the Court Appointed Receiver. What follows is the Receiver’s update for activities between May 1, 2021 to October 31, 2021. Premier Student Loan Center Case Summary I. RECEIVERSHIP ACTIVITIES During this period, the Receiver and his team … Read more

Debt Relief Agencies Face New Safeguard Rules by FTC

The Federal Trade Commission announced a newly updated rule that strengthens the data security safeguards that financial institutions must put in place to protect their customers’ financial information. In recent years, widespread data breaches and cyberattacks have resulted in significant harm to consumers, including monetary loss, identity theft, and other forms of financial distress. The … Read more

FTC Gives Companies Terse Warning About Fake Customer Reviews

The Federal Trade Commission is blanketing industry with a clear message that, if they use endorsements to deceive consumers, the FTC will be ready to hold them responsible with every tool at its disposal. “Receipt of the notice puts your company on notice that engaging in conduct described therein could subject the company to civil … Read more

Can There Ever Be Any Winners in These Debt Relief Lawsuits?

I’ve seen a lot of unfortunate situations in the debt relief space. I’ve written about many, but the problem between the Plaintiffs and Defendants and the mutual attorneys in one particular situation seems to be spiraling to a new level I’ve not seen before. No End in Sight Not long ago I wrote Student Loan … Read more

FTC Charges Two Florida-based Companies with Helping Student Debt Relief Scammers

Two Florida companies and their CEO will be permanently barred from offering payment-processing services to settle Federal Trade Commission allegations that they aided a criminal student debt relief scam that bilked $62 million from thousands of students and their families. According to the FTC’s complaint, Moneta Management, LLC, Moneta Management, Inc., and their CEO Michael … Read more

I Kind of Feel Bad for Julie Queler and Her Student Loan Assistance Business Mess

Let me start by saying my impression and opinion of the Julie Queler mess is based on public records. These are court documents and ultimately the case will have to play out in court. According to a July 7, 2021 court filing, Julie Queler, a Defendant in a suit with GM Law Firm, National Legal … Read more

California on Verge of Passing Debt Settlement Law That Protects Consumers

California is getting ready to pass AB-1405 titled “Fair Debt Settlement Practices Act.” Ironically, a number of settlement companies are located in California, Irvine in particular. Unless something magical happens the bill will pass. As it stands today, the bill has some serious consequences for settlement companies. This can be of no surprise to an … Read more