Latest Posts
Home > Debt Relief Industry (page 108)

Debt Relief Industry

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 »

            Debt Settlement Employee Blows the Whistle, Confesses

            confess

            What I am about to publish makes it sound like ALL debt settlement companies might operate like this. In my reporting and investigations I have found that to not be true. It’s only MOST of them that appear to operate like this. There are still some good guys around that do care. I’d love to tell you this information provides ... Read More »

              Senator Rockefeller Warns Attorneys’ General About Debt Settlement Industry in Email

              Here is a copy of an email that was sent to Attorney’s General to support continued efforts to rein in debt settlement. Dear Mr. Attorney General: As Chairman of the United States Senate Committee that oversees consumer protection, I have been very concerned by the growth of consumer financial scams during the recent economic downturn. I am writing to share ... Read More »

                CareOne’s Mike Croxson Speaks Out About Debt Settlement Legislation

                Today I was able to speak with Mike Croxson from CareOne about their performance fee based debt settlement services. We chatted about what life would be like in the debt settlement world with fee caps, what fee he could operate under, how the front-end debt settlement model is a dinosaur, the issues with credit counselors getting a pass on the ... Read More »

                  Expert Settlement Professional (ESP) Debt Settlement Product from P&E Solutions, Appears There is a Big Problem

                  Here is a tip that I received about ESP debt settlement software. The tip was sent to me at tips@getoutofdebt.org. If you have a industry tip, send it in. I just wanted to give you a nugget of insight on the ESP product. You are definitely on to something. This group is swaying companies right and left to join in ... Read More »

                    Debt Settlement Attorney Model Looks Dead

                    Ready to Collapse

                    May 12, 2009 It appears that the latest version of the Debt Settlement Consumer Protection Act kills the attorney model people are running to adopt in order to avoid the regulation. While the new bill increases the performance fee earned after a successful settlement to 10% it define a debt settlement service as: “(i) offering to provide advice or service, ... Read More »

                      Debt Settlement Consumer Protection Act Attached as Amendment. Fee Increased. Attorney Model Killed.

                      Ready to Collapse

                      The Debt Settlement Consumer Protection Act has been attached as an amendment for vote with the Restoring American Financial Stability Act of 2010. It is S.AMDT.3960 and based on support of the Restoring American Financial Stability Act of 2010 the amendment will probably be approved. Text of amendment with change to settlement fee being 10% instead of 5% and what ... Read More »

                        North Dakota Now Working on Debt Settlement Regulation

                        North Dakota

                        It is reported “the state banking commissioner and the consumer protection division in the attorney general’s office are proposing the law, which would require the companies to register with the state. It also would cap the amount a consumer would have to pay up front to $100 and limit a company’s charges to 15 percent of the savings gained by ... Read More »

                          Listen to USOBA Debt Settlement Company Lie to Sell Services

                          Right now debt settlement companies are claiming they are being unfairly targeted by regulators, the Senate Hearings on Debt Settlement, and the Debt Settlement Consumer Protection Act. A reader sent me a mailer he just received from a debt settlement company that is part of the United States Organization of Bankruptcy Alternatives (USOBA), the trade association that testified at the ... Read More »

                            Kentucky Signs Into Law New Tough Debt Adjusting Law That Regulates Debt Settlement Companies and Others

                            Kentucky Debt Adjusting Fees

                            I’ll admit I’m a bit late with this news but on April 13, 2010 Kentucky signed into law a new tough set of rules that regulate credit counseling, debt settlement and foreclosure assistance. FRANKFORT, Ky. — Gov. Steve Beshear was joined today by Kentucky Attorney General Jack Conway as he signed into law HB 166, a consumer protection bill that ... Read More »

                              Ethical Debt Settlement Firm Speaks Out About the Debt Settlement Consumer Protection Act

                              Ready to Collapse

                              Here is a statement from a debt settlement company in response to the proposed Debt Settlement Consumer Protection Act. It is interesting to see a debt settlement company that is in favor of measures that might still close a majority of other debt settlement companies. What do you think? Agree? Disagree? Post your comments and feedback below. Here is his ... 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.