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In The News

Credit Answers Still Pushing Debt Mediation Initiative. USOBA Kicks Them Out.

Credit Answers Mailer DMI

A tipster (send in your tips here) sent in the following mailer that went out recently to consumers. It is another version of the Credit Answers mailer I covered in Credit Answers Hides Behind DMI Mailer to Consumers. The mailer included a link that led to a web page that used the USOBA logo as you can see in the ... Read More »

    Why is TASC Saying Consumers Pay Really High Interest Rates in Credit Counseling?

    A tipster (send in your tips here) just brought this video to my attention. It features Dave Leuthold the executive director of TASC, until recently. I’m not sure what happened over at TASC but it looks like they cleaned house. In fact as of today they are down to 58 members and I can’t find a mention of Leuthold there ... Read More »

      Legal Services Speaks Out About Non-Profit Credit Counseling

      Ready to Collapse

      There has been a lot of attention focused on rogue debt settlement companies over the past year. And now that battle is mostly over with the introduction of the FTC telemarketing sales rules, as I have predicted, more attention will now turn towards non-profit debt relief services. The non-profit market will become polluted with companies that will attempt to evade ... Read More »

        Problems Just Keep Piling on for GHS Solutions CEO Anthony Shea

        You can never underestimate the skills of a tipster (send in your tips here). In this case, this morning arrives more bad news for Anthony Shea of GHS Solutions. GHS Solutions was in the news yesterday when I wrote about the court in Kentucky tossing out their arbitration agreement. Well it looks like January of 2011 just isn’t the month ... Read More »

          TFC Warns Customers About Darren Peck, Mark Serebrin & Philip Manger

          TFC Warning

          The Fulfillment Center appears to have an issue with some former marketing representatives who are opening a credit repair company. The infringing company is alleged to be called TFC West and soon to be changed to Safe Haven Credit. I’m curious if Philip Manger is the same Philip Manger that was mixed up in CCDN mess. Get Out of Debt ... Read More »

            Lawsuit Loans Heating Up. Worth Watching.

            Ready to Collapse

            Last week I wrote about LawCash and Oasis Legal Finance being challenged in Colorado over their legal settlement funding approach. Yesterday the New York Times ran with a look at the legal settlement funding or lawsuit lending industry. It’s an interesting article worth reading. Ernesto Kho had pressing needs of his own. Medical bills had piled up after he was ... Read More »

              Does the New Debt Settlement Industry Get It?

              A tipster (send in your tips here) sent in a link to a recent article from that was published on Fox Business, “Debt settlement industry in flux as new rules start.” In the article is a section attributed to Andrew Houser from Freedom Debt Relief. Cherry picking the good cases Housser from the settlement industry trade group says the ... Read More »

                Former Capital One Insider Spills Beans About Debt Settlement and Capital One.

                On January 7, 2010, FTC staff spoke by telephone with Michael Figliuolo, an individual who submitted a comment in response to the Notice of Proposed Rulemaking regarding the debt relief amendments to the Telemarketing Sales Rule. Mr. Figliuolo worked for several years in Capital One’s collections department. In 2001, he began working at Capital One as Group Manager for U.S. ... Read More »

                  Debt Relief Firm Grows Rapidly – Reliance Inc.

                  The Sun Sentinel out of Florida is reporting on the rapid grown of a debt relief company I have written about before, Reliance Inc. The article was sent to me by a tipster (send in your tips here) and it wasn’t till I went back and read my last post on Reliance Inc and read the comments that I then ... Read More »

                    CareOne Jumps on Bandwagon with Credit Counseling Request for FTC to Take Action Against Rogue Debt Settlement Companies

                    Ready to Collapse

                    A pretty smart move by CareOne. See press release below. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? CareOne Expands On Push to Close Debt Settlement Loopholes Columbia, Md. (December 16, 2010) – CareOne Services Inc. is adding its support to an effort launched December 15th by 11 nonprofit debt relief providers seeking more aggressive enforcement ... Read More »

                      Debt Free League Launches With Attack on Credit Counseling

             Site Page 1

                      Apparently the lads over at Debt Free League, who I’ve written about before, have launched a new website with a big press release. The site is and claims “The company’s site, helps the public to freely compare debt relief choices, including bankruptcy, debt negotiation, debt consolidation, tax settlement, and student loan consolidation.” Just one problem, it does not ... Read More »

                        Morgan Drexen Loses Bronze Accreditation From DSCP

                        A tipster (send in your tips here) brought the following item to my attention from the Debt Settlement Consumer Protection site. Morgan Drexen’s Accreditations have been revoked When we originally reviewed Morgan Drexen on Debt Settlement Consumer Protection, we gave them a bronze accreditation (lowest DSCP accreditation). Because of public outcry we have removed any accreditation from Morgan Drexen. Their ... Read More »

                          Will the IAPDA Finally Let Me Review Their Training Materials?

                          I see the International Association of Professional Debt Arbitrators (IAPDA) has sent out the press release below applauding the new FTC telemarketing sales rules. The release reminded me that back in July, 2010 I had reviewed the IAPDA certification materials that had been given to me at that time by someone and I’d asked the IAPDA for updated materials to ... Read More »

                            FBL Associates Claims They Help Police Raid Debt Relief Office of Attorney Evan Kagan. Kagan Denies Allegation.

                            Ready to Collapse

                            This statement was just posted by a commenter who either has a contact inside FBL Associates or is with FBL Associates. I have reached out to FBL Associates and Evan Kagan for comment but have not heard back by the time this was posted. UPDATE: See rebuttal statement below from Evan Kagan Esq., saying it is untrue. UPADTE: See short ... Read More »

                              New Era Debt Solutions Tells TASC to Shove It After Attending Debt Settlement Conference

                              New Era Resignation Letter

                              New Era Debt Solutions has just notified TASC they have resigned from TASC, effective immediately, out of disgust of tactics. Click on image for larger view. It appears that whatever went on at the recent debt settlement leadership conference in Las Vegas stirred up enough of a bad taste in the mouth of New Era Debt Solutions that they have ... Read More »

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