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Debt Relief Industry

“Debt Adjustment” – Meanest Racket Out

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“Debt Adjustment” – Meanest Racket Out by Murray Bloom “Get out of debt.” “Restore your credit without a loan.” “We can help you even if you’ve been turned down by everyone else. ” In the past two years these and similar slogans have lured thousands of desperate Americans and Canadians into one of the meanest schemes ever devised. Cleverly disguised ... Read More »

    Vice President Biden’s Comments and Pictures From the FTC Debt Relief TSR Press Conference July 29, 2010

    Below you will be able to hear my recording of Vice President Biden’s comments during the announcement of the new Federal Trade Commission Telemarketing Sales Rules that cover debt relief services. You can hear all of the photographers in the background, including me, and the audio in the room wasn’t all that loud so you will hear a lot of ... Read More »

      Debt Relief Services & the Telemarketing Sales Rules Announced July 29, 2010

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      Here is a guide on the Debt Relief Services & the Telemarketing Sales Rules to go into effect October 27, 2010. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Many Americans struggle to pay their credit card bills. Some turn to businesses offering “debt relief services” – for-profit companies that say they can renegotiate what consumers ... Read More »

        Interview with Allison Brown of the FTC on the New Debt Settlement Telemarketing Sales Rules

        After the press conference at the White House with Vice President Biden and FTC Chairman Jon Leibowitz I had a moment to catch up with Allison Brown of the FTC to talk for a minute about the impact of the new telemarketing sales rules and how it would impact companies. Allison told me also that the new telemarketing sales rules ... Read More »

          White House Press Conference July 29, 2010 – FTC Debt Relief TSR Announcement


          This is the post to follow for all the news related to the press conference this afternoon at the White House regarding the announcement of the new telemarketing sales rules that cover debt settlement and debt relief providers. I’ll update this post with information as I can. The plan is after the press conference with VP Biden and the FTC ... Read More »

            I’ll Be At the White House Press Briefing for the New FTC TSR Debt Relief Rules on July 29, 2010

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            Watch this site for updates on the TSR press conference at the White House. I have my press pass so I’ll be going to the press conference and plan to post updates on the site as quickly as I can. For those that want real time updates I’d suggest you follow me on Twitter at @GetOutOfDebtGuy so you get it ... Read More »

              Debt Settlement and Debt Relief Telemarketing Sales Rules to be Announced July 29, 2010

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              FTC Chairman to Announce a New Debt Relief Rule to Protect Financially Distressed Consumers at Middle Class Task Force Event WASHINGTON – Tomorrow, Thursday, July 29th, at 1:30 PM ET, Federal Trade Commission Chairman Jon Leibowitz will announce a new rule to protect consumers of debt relief services at a Middle Class Task Force event at the White House. Following ... Read More »

                “Consumers Assume the Commercial They Are Calling Into is Your Company”

                Just when you thought marketing debt relief services could not be more misleading, I read the press release of Spotlight Media and went to the site they mentioned, – Source The press release brags about selling debt settlement, auto loan modification, and mortgage modification leads. But what caught my eye was the release says “If you are a reputable ... Read More »

                  A Bunch of Mortgage Relief and Loan Modification Companies Banned by FTC

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                  Eight marketers are banned from selling mortgage modification or foreclosure relief services under settlements with the Federal Trade Commission. The FTC alleged that the marketers charged homeowners up-front fees and falsely claimed they could get their mortgage loans modified or prevent foreclosure on their homes. The settlements in three separate actions are part of the FTC’s ongoing efforts against scams ... Read More »

                    What the Dodd-Frank Act: What It Means for Credit and Housing Counseling Agencies and Other Debt Relief Service Providers

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                    The following article was put out by the Venable law firm and is republished with permission of Jeff Tenenbaum, a rock star in debt relief compliance issues. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? President Obama ushered in a new era of regulation over credit counseling, housing counseling, and other debt relief services that will ... Read More »

                      Consumer Credit Counseling Service Disturbed With GHS Solutions Marketing of Debt Settlement

                      From the news story: Jennifer Wallis works at Consumer Credit Counseling Service of Central Oklahoma, and she’s always on the lookout for consumer scams. “That’s the problem I have, is tricking people into a program that’s going to damage their credit,” Wallis said. That’s exactly what Jennifer said a letter her client received is trying to do. It claims that ... Read More »

                        Roni Deutch Tax Centers Now Selling Debt Settlement Services

                        According to a recent statement from the Roni Deutch Tax Center, one of the Franchise Times top fastest growing franchise companies, they are now into selling debt settlement services. The press release says: In addition to their exceptional tax preparation services, Roni Deutch Tax Center locations have attracted entrepreneurs because they boast a number of additional year-round services including debt ... Read More »

                          Upfront Fee Credit Repair Companies Sued by MA AG

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                          BOSTON – Attorney General Martha Coakley’s Office has filed a lawsuit against two individuals who charged illegal upfront fees and allegedly made false promises to fix Massachusetts consumers’ credit reports through their credit repair businesses. The individuals operate under the business names of Credit Score Rebuilders and Integrity Credit Restoration. The lawsuit, filed last week against Reilly Silvia of West ... Read More »

                            Debt Settlement and Loan Modification Mailers and Then Halo Mac and American Debt Relief

                            Thanks to a tipster (send in your tips here) I wanted to show you some examples of debt settlement mailers that in my opinion appear designed to confuse of make recipients believe they come from some official or government resource. These mailers came from Budget Mailing Services at – Source I’ll post examples of the mailers they have available, ... Read More »

                              Credit Solutions of America Leader & Owner, Matt Reivitt, Dies 11 Days After VT Names Him in Lawsuit

                              In a stroke of absolutely rotten fate in a two week period, Matt Reivitt was personally named in a press release sent out by the Vermont Attorney General about debt settlement service violations, and then died. I struggled with how to report this bit of news I learned the other day. Part of the story I know is not confirmed ... Read More »

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