Quick Answer: The FTC busted ITMedia Solutions LLC and affiliates for operating fake loan broker websites that collected sensitive financial data from millions of consumers since 2012, then sold the information to marketers instead of connecting people with actual lenders. The company will pay $1.5 million in penalties and face operational restrictions for deceiving consumers …
Quick Answer: Dave Ramsey’s companies face employee lawsuits alleging termination based on religious beliefs about employees’ private lives, including a 2020 case where an unwed pregnant employee was allegedly fired. The complaints raise questions about whether Ramsey Solutions applies fundamentalist Christian standards to employment decisions beyond workplace conduct.Recently it came to my attention that Dave …
Quick Answer: A former debt relief salesperson reveals how companies use personal loan mailers as bait to generate leads, then use commissioned salespeople to manipulate desperate consumers into purchasing debt settlement services instead. The anonymous whistleblower worked for a financial services company in 2018 that appeared legitimate but employed deceptive bait-and-switch tactics targeting vulnerable people …
Quick Answer: Nonprofit debt management plan providers face financial pressure because fee caps enacted in the early 2000s haven’t kept pace with inflation. Maryland’s 2003 law capping fees at $50 consultation and $8 per creditor monthly has lost 30% of its purchasing power by 2020.We are creeping up on nearly two decades of account fee …
Quick Answer: Morgan Drexen was not a legitimate debt settlement company and is no longer in business after regulators shut it down for illegal practices. West Virginia’s Supreme Court recently upheld rulings that the company misrepresented non-lawyer services as attorney-operated debt settlement programs.Morgan Drexen was a large settlement company that at one time was making …
Quick Answer: Provident Solutions’ debt relief contract may violate the Consumer Review Fairness Act by penalizing consumers $1,000 for complaints deemed “inaccurate or false” to regulators or media. The CRFA protects consumers’ ability to share honest opinions about business services in any forum.Yesterday I wrote a post about a Provident Solutions consumer contract for debt …
Quick Answer: Provident Solutions operates as a document preparation company charging initial and monthly fees for debt elimination services without providing direct legal representation. The California-based company uses generic legal documents created by law firms but clients should understand they’re paying for document preparation rather than actual legal counsel.A tipster (send in your tips here) …
Quick Answer: Google’s new AdSense policy restricting debt relief ads to non-profit credit counselors will likely backfire as settlement companies begin masquerading as non-profits through rental arrangements. The policy change won’t benefit legitimate credit counseling since many agencies already have behind-the-scenes relationships with for-profit debt relief companies due to reduced creditor funding.Recent news about Google …
Quick Answer: Titan Consulting Group appears to be an unregistered debt relief operation, as New York State records show no active company under this name at their listed Broadway address. The BBB lists a Delaware-incorporated version with mixed reviews suggesting consumers are pitched debt settlement services after being told they don’t qualify for advertised personal …
Quick Answer: CESI’s SaverLife program is legitimate and represents an innovative approach that combines debt management plans with mandatory savings building. The program addresses a traditional weakness in credit counseling by requiring clients to build actual savings accounts alongside debt reduction, though success depends on whether participants resist withdrawing their accumulated emergency funds — and …
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