Latest Posts
Home > Debt Relief Industry (page 107)

Debt Relief Industry

USOBA Testifies in TX There Are “Bad Actor” Debt Settlement Companies That Need to Go Out of Business

The State of Texas recently held hearings on proposed debt settlement regulation. I wrote about them indirectly here. The hearing was hours and hours long but what you are about to hear are the last two people offering testimony. The first is Jeff Meek who previously wrote that USOBA members were told to not work work creditors to provide success ... Read More »

    Clearview Credit, Debt Settlement Company, Sued by Credit Union

    Ready to Collapse

    “The $625 million Clearview Federal Credit Union has filed a lawsuit against Clearview Credit, a Florida debt settlement company claiming misrepresentation to the cooperative’s members. Filed May 20, 2010, the federal trademark suit is seeking a cease and desist including stopping the distribution of materials with the Clearview Credit name. The CU first learned of the Tampa, Fla.-based company after ... Read More »

      Debt Settlement Company President Speaks Out in Favor of Regulation of the Debt Settlement Industry. Says Big Upfront Fees Must Go.

      I had a refreshing and frank conversation with U.S. Debt Resolve President Scott Johnson the other day. We talked about pending regulation of debt settlement companies, deceptive marketing, debt settlement companies which are not consumer focused and what the future looks like for the debt settlement industry. Scott talks openly about how regulation of the debt settlement industry is needed ... Read More »

        FBI Investigating Debt Settlement Companies

        FBI

        I’m trying to get more information about the FBI task force that is investigating aggressive debt settlement companies in California and Florida and I’ve requested an interview with the FBI on this issue. All I know for now is that the FBI does have active investigations of some debt settlement companies and is looking into the economic crimes of those ... Read More »

          Esteemed Lending Services. Nothing But a Well Documented Scam.

          Esteemed Lending Services

          The lending site below is a sham. It makes unsubstantiated false promises in an effort to convince you to cough up both personal information and money. Beware. The web site is actually the creation of the FTC. In an effort to help consumers spot scam and fraudulent upfront loan fee offers and bogus debt reduction presentations, the Federal Trade Commission ... Read More »

            Companies Making Calls Promising to Reduce Credit Card Interest Rates Get Ass Slapped By FTC

            I can’t tell you how many calls I get from autodialers promising to reduce the interest rates on my credit cards. I’m not alone in receiving these calls. My only regret is I’ve been unable to record the calls when they come in. Well the Federal Trade Commission has take action against companies that make these calls. At the request ... Read More »

              Morning After: Debt Settlement Industry Celebrating. “Game On”

              Debt Settlement Party Time

              It’s May 21, 2010 and in a move that only seems to amplify the arrogance of the party makers in the debt settlement industry, that appear to be no more than profiteers charging consumers tens of thousands of dollars for debt settlement service that are questionably effective and dubiously successful, it’s back to business as usual. Yesterday the United States ... Read More »

                National Debt Crisis Center (NDCC) Odd Commercial

                Ready to Collapse

                This commercial aired the other night from the National Debt Crisis Center (NDCC) for debt settlement services. Excuse the dog collar rattling in the audio. Apparently the commercial made my dog want to scratch himself. What struck me as odd about the commercial was that it seems to be intentionally clumsy as if it is footage from a news conference ... Read More »

                  If You Owe Chase Bank, Forget About Debt Settlement.

                  Ready to Collapse

                  In recent communications with Chase Bank they helped me to understand their policy when it comes to working with debt settlement companies, they won’t. Paul Hartwick, spokesperson for Chase told me, “Chase will not work with debt settlement companies. Customers who notify Chase that they are working with a debt settlement company will be advised of this policy and encouraged ... Read More »

                    Self-Directed Debt Settlement Software Cuts Fees Significantly to Settle Debts

                    Dave VanderVeer has developed a consumer self-directed debt settlement approach. I had the pleasure of discussing his approach and software with him. You can hear the full interview below. As Dave observed, consumers are getting bombarded by many debt settlement companies making false promises and charging high fees upfront for services they may never deliver. Using the SelfDirectedDebtSettlement.com approach the ... Read More »

                      How the Provident Law Group Loan Modification Program in California is Alleged to Try to Sidestep the Upfront Fee Ban

                      California has been tough on loan modification companies and in fact passed laws to prevent upfront fees. One of the companies that recently came under attack was a company I wrote about, Liberty Law Firm. After my piece KTLA did their own investigative report on Liberty. According to an confidential source, that contacted me at tips@getoutofdebt.org, the reporting lead to ... Read More »

                        Are Debt Settlement Companies Being Told to Run For Hills by TASC?

                        I previously wrote about how I thought debt settlement companies might make a move into selling vehicle service contracts as the next big income opportunity. I made the connection through a conference email that was sent out promoting the president of The Association of Settlement Companies (TASC), Robby Birnbaum, as a leader in both industries. Click here to read that ... Read More »

                          Debt Settlement Consumer Protection Act Labeled Anti-Consumer By TASC

                          Ready to Collapse

                          May 14, 2009 Here is an recent email that was sent to me at tips@getoutofdebt.org that is reported to be sent out by The Association of Settlement Companies to members to try to defeat the Debt Settlement Consumer Protection Act. Three things struck me. To label the bill as anti-consumer is not helpful. There appears to be no consideration of ... Read More »

                            Texas Testimony, National Trends in Regulation of Debt Settlement

                            Texas Flag

                            Yesterday there was a hearing in Texas regarding upcoming debt settlement regulation. Below you will find the testimony regarding the Uniform Debt Management Services Act that was given. I was told the committee had no patience for USOBA and John Ansbach, who was not even on the witness list. He attempted to make comments in the public forum time allotted ... Read More »

                              A Couple of Editorial Images on Debt Settlement Today

                              Will Settle Debt For Food

                              The Future of Debt Settlement? Debt Settlement on May 14, 2010 Read More »

                                Get My FREE Get Out of Debt Guy Newsletter

                                It is the smart thing to do.

                                I promise to keep your email safe and secure.

                                Close

                                I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

                                You can unsubscribe at any time with just one click.

                                After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


                                • It will keep you posted on the latest scams.
                                • You will be alerted to the latest articles.
                                • You will wind up smarter than everyone else dealing with debt.