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Debt Relief Industry

Watch Out for New Company, Real Debt Solutions. Looks Like the Work of Serial Debt Relief Scammer Bob Lindsey.

A tipster (send in your tips here) sent me the following email. CCDN et. al. (Robert Lindsey, Philip Manger, Robert Lock, Tracy Webster, etc.) latest scams: At first I could not see any connection between the people he mentioned but they I found something that creates an odd coincidence. Bob Lindsey, a debt relief operator that was shut ... Read More »

    Johnson Law Group in Nevada Told Me They Closed Up Shop and Want to Transfer My Account to Johnson Law Group in Florida. – Lynn

    Ready to Collapse

    “Dear Steve, I first participated with JLG, in Nevada in Fevbruary 2010. I’ve made 4 monthly payments. I just recently received a letter(6/10) from JLG in NV stating that their professional corporation will no longer be providing services that were offered to me in the past in consumer debt relief and are transfering the handling of these matters to The ... Read More »

      Have You Seen the USOBA Code of Ethics? You Need To.

      I saw a press release sent out by Debt Shield, a Maryland based debt settlement company. In the press release they brag about just having achieved the “coveted TASC and USOBA accreditations.” What made me laugh at first was the quote “”Accreditation sets Debt Shield even further apart from our competition by highlighting what we have always known- that Debt ... Read More »

        Debt Settlement Company Emerge America Says Upfront Debt Settlement Fees Need to Go Away

        I’m always surprised how often people tell me or comment that debt settlement companies can’t survive without charging all their fees upfront. I say it can be done when consumers actually pay for performance, meaning, pay the debt settlement company when the debt is actually settled. Even the debt settlement trade associations say banning upfront fees is bad. But the ... Read More »

          Interview with Alex Viecco from New Era Debt Solutions on How a Performance Fee Model Can Work

          Here is an interview with Alex Viecco from New Era Debt Solutions that I recorded today. Alex talks about why the performance based debt settlement model works well for the long-term and a bunch of other issues that are brewing right now. The story about New Era that I mention can be found here. Alex talks about how and why ... Read More »

            Performance Fee Debt Settlement Company, New Era, Comes Out Shining in Test

            Ready to Collapse

            New Era Debt Solutions scored some MAJOR points with nationally syndicated columnist Terry Savage in an article published today. Terry says she put New Era, a debt settlement company that collects most fees when the debt actually settles, to the test. By strange coincidence that very same week, I received an e-mail from a man called Peter, who explained that ... Read More »

              NoteWorld, NoteWorld Servicing Center, Nationwide Support Services and Freedom Debt Center Slapped With Class Action Suit

              There was a very recent class action suit against NoteWorld, NoteWorld Servicing Center, Nationwide Support Services, and Freedom Debt Center. Both Nationwide Support Services and Freedom Debt Center are TASC members. – Source. Joanne Garneau, the CEO of Nationwide Support Services, serves on the Executive Board of TASC. – Source I would not be surprised to see more similar suits ... Read More »

                Northeast Settlement Group – Small But Transparent


                Recently I was contacted by Andy Faria of Northeast Settlement Group. He wanted to share with me the approach of his debt settlement company and their approach of basing their fees on the actual performance of his settling debts instead of collecting large fees up front. While his company is small he is able to provide help and assistance to ... Read More »

                  The Truth About TASC

                  The Truth About TASC

                  Now here is an interesting web site. Who knew TASC had made so many friends that someone even put this web site out there. Thanks for the anonymous tip from one of the site readers. You can visit the site here. Archive Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? I can always use your help. ... Read More »

                    California AB 350 Still Alive to Regulate Debt Management and Debt Settlement

                    Ready to Collapse

                    I was just checking on the status of California Assembly Bill 350 and found that it is still in process and was amended in the Senate on June 14, 2010. You will find the latest draft below. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? I can always use your help. If you have a tip ... Read More »

                      New Indiana Law Goes Into Effect July 1, 2010 and Impacts Debt Settlement

                      Ready to Collapse

                      It’s really not all that tough to comply but debt settlement and other credit repair and debt relief companies will need to register and obtain the bond before doing business in Indiana. Here is a link to the latest version of the law so helpfully provided by Pamela Fratini, Esq. in her letter to me. Below you will find the ... Read More »

                        Texas Attorney General Office Speaks Up to FTC to Please Ban Advance Fees

                        Ready to Collapse

                        In a recent article I covered how debt settlement trade associations had returned to the FTC to make their pitch that banning advance fees for debt settlement services was a rotten idea. You can read that article here. A couple of weeks after the trade associations had slogged up to the FTC offices, and after the consumer groups had made ... Read More »

                          Financial Hope for America Rumored to Change Name to US Financial Advisors to Get Away From Bad Press

                          Ready to Collapse

                          I previously wrote an article about Financial Hope for America. A tipster (send in your tips here) just told me they are going to be changing their name to US Financial Advisors because of the avalanche of bad press Financial Hope for America has received. You really should read my article on them. I’m told that US Financial Advisors will ... Read More »

                            Stimulus Act of 2009 – Site and What It is About.


                            I was recently asked if I knew anything about A quick look at the site tells me it’s a lead generating site. In fact it looks like the leads go to Leads360 describes themselves as: Leads360 is the largest and most successful sales lead management company with over 2,500 clients and more than five years of experience helping ... Read More »

                              Debtfree Lifestyle Today Sounds Like a Scam. I Called. Debt Settlement Lead Generator Gets Punked by Them as Well.

                              Apparently people are getting calls from a company calling itself Debtfree Lifestyle Today. Whoever is behind this has even hijacked the name and reputation of another site and is making allegedly illegal outbound calls promising debt relief. So I Called Them and What I Heard Was Shocking and Laughable. Listen. In researching this story I called the number listed for ... Read More »

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