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Debt Relief Industry

Debt Settlement Company President Nailed by Falling Real Estate Values

Ready to Collapse

This is not something I would normally publish but BlockShopper.com did so I’m passing it along. Greg Pesetsky sold a four-bedroom, 2.5-bath home at 17952 S.W. 35th Court in Miramar to Deepa Abi and Abbi Karun for $385,000 on May 3. Pesetsky bought the property for $617,000 in Sept. 2005. The 3,811-square-foot house was built in 2000 in Miramar West. ... Read More »

    Debt Settlement Company Morgan Drexen Says “Debt Settlement is a Dirty Word”

    In a press release sent out by black eyed Morgan Drexen praising their services they say “Debt settlement is a dirty word…” Kind of an odd point to reinforce, but oh well. I also had to chuckle that the attorney they chose to poster child for loving the Morgan Drexen debt settlement back office service, they got his name wrong. ... Read More »

      The Easiest and Most Obvious Way to Fix the Debt Settlement Industry and Prevent Regulation

      Ready to Collapse

      With all the pushing and pulling from the debt settlement industry, TASC, and USOBA over their enthusiastic laments about the debt settlement industry does not need regulation or advance fee bans, one critical point is lost on all, this is an absolutely easy problem to fix. The Current Problem: Consumers languish for years in debt settlement programs while they attempt ... Read More »

        Consumer Credit Rights Campaign to Save Debt Settlement. It’s B.S.

        A new web site was registered on March 15, 2010 for the Consumer Credit Rights Campaign. The site purports to be a consumer fight to protect the debt settlement industry. Unfortunately the Consumer Credit Rights Campaign effort appears to be no more than some unknown debt settlement companies that are trying to spread more misinformation about coming consumer protections in ... Read More »

          Countrywide to Pay Big Fine to FTC for Overcharging Homeowners, Fees, and Screwing Borrowers in Bankruptcy

          Stop Countrywide Mortgage Abuse

          Photo Credit: April Zosia Two Countrywide mortgage servicing companies will pay $108 million to settle Federal Trade Commission charges that they collected excessive fees from cash-strapped borrowers who were struggling to keep their homes. The $108 million represents one of the largest judgments imposed in an FTC case, and the largest mortgage servicing case. It will be used to reimburse ... Read More »

            New Era Debt Solutions Steps Up to Truth and Transparency for Consumers

            Back in April I published an article A Call, Make That a Scream, for Transparency in the Debt Settlement Industry that asked debt settlement companies to disclose key metrics about their services so consumers could make informed decisions when deciding who to work with. U.S. Debt Resolve was the first company to step-up and immediately embrace openness and transparency. Now ... Read More »

              Debt Settlement Consumer Protection Act S.3264 Oh So Not Dead

              Ready to Collapse

              On the phone today and had some very enlightening conversations with inside sources on the Hill who must not have received the memo that S.3264 the Schumer-McCaskil Debt Settlement Protection Act is dead and forgotten, killed by TASC and USOBA lobbying. Members on the Hill are preparing to continue pushing S.3264 and are very confident it will get passed. We ... Read More »

                USOBA Suckers Republicans to Influence the Federal Trade Commission Against Debt Settlement Regulations

                FTC USOBA Cover Letter

                In a move that flies in the face of protecting consumers at large, the United State Organization of Bankruptcy Alternatives (USOBA) has enlisted the help of the following Republican Members of Congress to attempt to sway the Federal Trade Commission from issuing upcoming rules that will impact upfront fee debt settlement companies. The cover letter the Congressmen appears to clearly ... Read More »

                  Dave Burke and Real Talk Network Attempt to Bar Reporter With Restraining Order

                  Recently the ABC television station in Denver, the home of Dave Burke and the Real Talk Network, broadcast an investigative report into the operation of Burke and looked into claims that consumers were being ripped off and scammed. As a result of that work and the attempted interview by the investigative reporter, rather than talk to the press and address ... Read More »

                    Auto Loan Modifications From Auto Relief Group, Consumers Call Them a Scam

                    Here is a comercial from an entity that advertises themselves as the Auto Loan Reduction Center. The problem is, after searching, I can’t find any company really named the Auto Loan Reduction Center. – Source. And quite frankly, I’m not surprised. [flashvideo file=/wp-content/uploads/AutoLoanReductionCenter.flv /] Lately I’ve noticed more advertisements and mentions of auto loan modifications or truck loan modifications in ... Read More »

                      Freedom Debt Relief Makes Pitch in LA Times, We Are Not Scammers

                      Ready to Collapse

                      Freedom Debt Relief, a member of The Association of Debt Settlement Companies (TASC) contacted David Lazarus of the Los Angeles Times and tried to make the pitch they are whiter than white. Robert Linderman wants you to know he isn’t a scammer. Oh sure, he may be general counsel for Freedom Debt Relief, California’s largest debt-settlement company, and he may ... Read More »

                        Just In, Dave Burke and Real Talk Network Not Authorized to do Business in Colorado

                        Real Talk Network Colorado Corporate Status

                        I just received an email from the State of Colorado which pointed out to me that as of June 1, 2010 the corporate status of Dave Burke’s Real Talk Network has just been changed to noncompliant for failure to file an annual report. See below. Click image for larger view. Click image for larger view. Update: June 2, 2010 – ... Read More »

                          Breaking Down the Misleading and Deceptive Financial Sales Pitch From the Get Real With Dave Burke Radio Show

                          I admit, using the words misleading and deceptive is pretty strong language to use to describe a radio show. In this case it is the “Get Real With Dave” Dave Burke radio show. Burke has been on the air buying time for at least a couple of years. Until May, 2010 he was pitching his radio shows as “Real Talk ... Read More »

                            Get Real With Dave – Problematic Dave Burke Changes His Branding From Real Talk Network

                            Get Real With Dave

                            Insiders affiliated with the problematic Dave Burke operation, “Real Talk Network”, that has an F rating by the BBB (source) had warned me that Burke was attempting to change his branding to shed his troubled past with consumers. The BBB has also added to their warnings about Dave Burke Real Talk Network by now saying: Your BBB has notice a ... Read More »

                              Credit Relief Act. Are You Eligible? Appears Intended to Deceive Innocent Consumers.

                              Credit Relief Act Web Site

                              I discovered an advertisement for a site called Credit Relief Act (creditreliefact.com) that appears, in my opinion, designed to intentionally confuse and mislead consumers into thinking there is a government program to reduce debt. The advertisement I saw said: Obama Credit Bailout Plan See if You Qualify for the Obama Credit Reform Bailout Plan See Now. The site does mention ... Read More »

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