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Debt Relief Industry

NoteWorld Loses BBB Accreditation Due to Relationship With Debt Settlement

Here is an interesting fact that just came up in another story I just published. Apparently NoteWorld Servicing Center had its BBB accreditation yanked for being affiliated with the debt settlement industry. The BBB states: Why Accreditation Revoked On April 29, 2010 this company’s accreditation in BBB was revoked by BBB’s Board of Directors due to engaging in activities reflecting ... Read More »

    Guardian Referral Network and J. Hass Group Slammed in Article

    Ready to Collapse

    Philadelphia Weekly reported that a Pennsylvania consumer had a negative experience with two debt relief companies, Guardian Referral Network and J. Hass Group. Using powers of persuasion, a solicitor from Guardian Referral Network, a company “dedicated to helping individuals and families rid their lives of burdensome debt,” convinced Yard, a North Philly resident, to sign over his debt to a ... Read More »

      CRL Makes an Excellent Case for a Debt Settlement Fee Ban. CNI Doesn’t.

      CNI

      A flurry of letters have been flying into the FTC to attempt to influence them to allow debt settlement companies to collected fees before debts are settled. Here are two of the most interesting exchanges. The first comes from Century Negotiations, Inc. It happens to be the company of the TASC Executive Director Dave Leuthold who is the CEO for ... Read More »

        Debt Settlement Company Bella Financial / Debt By Debt Settlement Services on the Dead Pile

        A tipster (send in your tips here) sent in a tip letting me know that debt settlement company Bella Financial appears to be out of business. Just one of many to come once the new FTC regulations are released. Bella Financial, D/B/A Debt By Debt Settlement Services, described themselves as “a leader in debt settlement for consumers” and I guess ... Read More »

          Debtmerica Relief Vietnamese Television Commercials

          Debtmerica Relief

          Now this is what I call really targeting a niche market for debt settlement services. What I found interesting is that while the marketing messages have been translated into the target language, the disclaimers and warnings have not for both the Hispanic and Vietnamese versions of their site. That would leave those target markets at a disadvantaged if the are ... Read More »

            Credit Counseling Capitalizes on Debt Settlement Mess With This Commercial

            Ready to Collapse

            A great video example of why the debt settlement industry implosion with upfront fees and trawler nets full of unhappy consumers plays right into the hands of credit counseling agencies. The commercial seems to use real examples of debt settlement horror stories to sell credit counseling services. I can always use your help. If you have a tip or information ... Read More »

              Debt Settlement and Debt Negotiation Services a Growing Problem in the Czech Republic

              Thanks to an awesome tipster (send in your tips here) we have the story below. Keep the tips coming. Czech Radio is reporting that debt settlement services in the Czech Republic have become a big enough problem that People in Need is speaking out against them to help protect consumers. When you listen to the report below by Czech Radio ... Read More »

                U.S. Debt Settlement US4.DE Stock Holders Should Be Inquisitive About This

                A debt settlement company located in the U.S. which is publicly traded on the Frankfurt, Germany stock exchange, U.S. Debt Settlement (US4.DE), and also a TASC member, issued a statement yesterday, below, regarding their company performance that will be read by investors. What I found odd was that in the outlook for the future it appears to not inform investors ... Read More »

                  Disbarred Kentucky Attorney Bruce Atherton Accused of Offering Illegal Debt Relief Services by Attorney General. He’s Already Headed to Jail.

                  Indiana went after attorney Bruce Atherton of Kentucky and issued the statement below. As I remember, Bruce Atherton was behind Bruce Atherton and Associates in Kentucky that sold attorney based debt settlement services. A tipster (send in your tips here) told me he was also the guy behind Debt Restructuring of America (source) and My Choice Debt Management. Indiana Attorney ... Read More »

                    So USOBA, Is The Premier Debt Solvers Site Deceptive?

                    Ready to Collapse

                    A tipster (send in your tips here) sent me in an example of a USOBA web site that uses a President Obama video on their site in an apparent attempt to bolster their message. My question is if the use of the video violates the new USOBA Zero Tolerance policy for deceptive marketing. According to the way I read their ... Read More »

                      You Can Be Instantly Sued When Your Debt Settlement Company Contacts the Debt Collector

                      Ready to Collapse

                      NCO Group, a huge debt collection company recently provided an opinion about debt settlement services. Of primary interest to me was the statement from NCO that they are under instructions from their creditor clients that when a consumer tells NCO they have signed-up with a debt settlement company that NCO should refer the consumer account to the legal department for ... Read More »

                        Consumers Union to FTC – No Fees Till Debt Fully Settled

                        Ready to Collapse

                        From the FTC comes a record of this discussion where Consumers Union makes the point that under the proposed FTC advanced fee ban debt settlement companies should not be allowed to collect any fee for settling the debt until the debt is fully settled. She does raise some excellent points. “On July 9, 2010, Gail Hillebrand, the Financial Services Campaign ... Read More »

                          Eagle One Debt Solutions – Reps Needed – Best Compensation for Closing Debt Settlement Leads

                          Eagle One Debt Solutions Help Wanted

                          A tipster (send in your tips here) sent in the following ad Eagle one Debt Solutions is running. Eagle One Debt Solutions claims they are a proud member of TASC, IAPDA, and Global Client Solutions. – Source What is interesting about the help wanted advertisement is you’ll notice it is not focused on providing best advice to consumers in trouble, ... Read More »

                            USOBA Says Don’t Cross This Line or We’ll Suspend You

                            USOBA Zero Tolerence Policy

                            The United States Organization for Bankruptcy Alternatives (USOBA) has just issued a press release about their new Zero Tolerance policy for members who engage in deceptive marketing. Yea, that would be the exact deceptive marketing I covered in Examples of Deceptive Official Marketing Sent Out By Debt Settlement Companies to Trick Consumers. Some are Members of TASC & USOBA. The ... Read More »

                              It’s What Morgan Drexen Doesn’t Say That’s Most Interesting

                              Debt settlement service provider/firm/whatever they are, Morgan Drexen issued the following press release in support of the FTC advance fee ban for debt settlement companies. Morgan Drexen Applauds the Regulatory Reform Bill The Financial Regulatory Reform Bill is Already Facing Criticism, Morgan Drexen President Steph Nagin Applauds the Reform Bill — This Will Help to Afford Consumers the Protection They ... Read More »

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