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Business Models

Debt Relief Options for consumers – Is the delivery system broken?

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Most of the debt relief services industry works less than 30% of the time. It could use a tune up. Imagine if the car you are driving has a six cylinder engine, but four of them did not function. You would do something about it, right? Even if doing something meant replacing the car? Most would. Not the debt relief ... Read More »

    Debt Dispute: Phoenix Marketing Managers Claim to Offer Next Big Debt Relief Product – Debt Defense Services

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    A tipster (send in your tips here) forwarded me an email from a company called Phoenix Marketing Managers that claims to have a superior product for the debt relief industry and is seeking affiliates. Only one problem, it seems like it is way too expensive and will draw the attention of regulators with some of the unsupported claims made. From ... Read More »

      UK Debt Restructure Scam – Buy My Debt Limited and The Trusted Partnership, Closed by High Court

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      Don’t think that scams that prey upon people with debt problems is limited to just the United States. Just recently the High Court in London shuttered a fraudulent debt buyer operation. Readers familiar with some of the debt buyer claims will notice they sound suspiciously familiar to the debt buyer claims in the U.S. Buy My Debt Limited and The ... Read More »

        Give Your Company a Great Gift This Holiday Season: Review Your Contract

        Readers may forget that not only do I write about the debt relief industry, but I used to run a debt relief group at one time. I familiar with the tremendous issues that come with helping people deal with debt. Just yesterday I published this article and it was a great example of an issue that many debt relief companies ... Read More »

          Do Creditors Have The Right To Ignore A Power Of Attorney (POA)?

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          This guest post is from Michael Reilly from Emerge America. His post certainly does raise issues about the lack of uniformity of the Power of Attorney. I believe the answer to that question is no! Perhaps creditors should familiarize themselves with “THE UNIFORM POWER OF ATTORNEY ACT.” As many Debt Settlement Service Providers (DSSP’s) can attest, creditors seem to think ... Read More »

            Renaissance Debt Solutions Said to be Working With Credit Guard of America

            A tipster (send in your tips here) with incredible eagle eyes sent in an observation from a BBB report. It’s the first time I’ve seen such a comment on a BBB report but it support what we’ve been saying over the past couple of years. Remember when we talked about how debt relief companies would need to develop stronger ties ... Read More »

              Canadian Debt Settlement – Join the Next Big Wave of Residual Income

              Canadian Debt Settlement

              You can click on the image below to make it bigger. It was forwarded to me as an email that only contained the image. Anyone know who is behind this and what the sales pitch is? Read More »

                How Can Credit Counseling Miss the Boat on Offering Settlement When It’s Education

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                I’ve been perplexed for some time now why credit counseling isn’t getting into debt settlement. They spent a couple of years vilifying it to “protect consumers” but let’s be honest, that was really for their own competitive advantage and to protect marketshare. For nonprofit credit counselors, debt settlement as a solution is the holy grail and the third rail at ... Read More »

                  Atlas Consumer Cooperative and Fingo Group is a Big Mistake I Think? – Valerie

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                  “Dear Steve, I am in CC debt for $47,000.00 and signed up with Atlas/Fingo in April 2011. I was looking for a way to lessen my debt so i could have a chance of paying it off in a reasonable amount of time. I saw the question from Jenny regarding the Atlas/Fingo group and hope i didn’t make a big ... Read More »

                    Sales Representative Finds New Way to Poach Debt Settlement Clients

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                    New Era Debt Solutions sent me over a mailer that just made their blood boil. It seems some representative for some other debt relief solution had mailed one of their clients with a fantastic new offer. And by the way, if you get any bogus offers you want me to expose you can send them to tips@getoutofdebt.org. Matt Davis, from ... Read More »

                      Wells Fargo Bragging About Supporting Credit Counseling, But…

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                      A recent press release from Wells Fargo caught my eye. The title was “Wells Fargo Increases Commitment to Credit Counseling Nonprofits by 35% to $12.4 million in 2011” but upon closer inspection all Wells Fargo was really doing was increasing funding by 35% in 2011 for nonprofit housing counseling. The obvious question is if Wells Fargo really finds value in ... Read More »

                        Veritas Legal Plan Drafts Through Global Client Solutions and NoteWorld

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                        The following guest post was contributed by Sean Ryan Managing Partner- Veritas Assurance Group- sean@veritaslegalplan.com If you would like to contribute a guest post, click here. Veritas Legal Plan offers the only legal plan created exclusively for the debt settlement industry. The plan hires and pays 100% of attorney fees to defend creditor lawsuits! Now, Veritas Legal Plan is proud ... Read More »

                          Selling or Buying Credit Repair Services? Read This Before You’re Busted.

                          The latest unbelievable resurgence in the debt relief world is advanced fee credit repair. That ship sailed a decade ago, at least. Companies are telling marketers that they can sell credit repair services and basically “charge whatever” they want to. But there is this little thing called the Credit Repair Organizations Act (CROA) that prohibits the collection of any fee ... Read More »

                            US Credit Services Credit Repair Affiliate Program Pitched. What, No CROA?

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                            A tipster (send in your tips here) sent in an email they received that is pitching a magic money making opportunity to unsuspecting uninformed people as possible affiliates. The offer is to become a credit repair affiliate after loan modification or debt settlement is complete. My favorite line of the email has to be, “Remember, you can charge anything you ... Read More »

                              I’m Working at a Debt Relief Call Center in Florida and I Think It’s a Scam

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                              “Dear Steve, I am working at a call center in florida, just started the job, and I think its a scam. The company is only doing business in Canada under two companies, that we are told to say we are a separate entity from us. They used to be called Vortex before, and I have heard they change their name ... Read More »

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