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Debt Relief Industry

New Gov’t Regulations Create Debt Relief For Americans Says Consumer Debt Counselor Group

New York Chronicle

Click on image for larger view An anonymous tipster (send in your tips here) sent me an email with information on an advertisement that appears to be from a newspaper and about a “New US Government regulations allow Americans to qualify for substantial sums of money.” – Source I’m going to have to chalk this up to yet another deceptive ... Read More »

    National Debt Settlement Bureau Rips Off TASC Web Site. Now That’s Funny!

    Thanks to a tipster (send in your tips here) (Rachel) I just learned about the National Debt Settlement Bureau (ndsb.org). Apparently Nima Momayez is the president of the National Debt Settlement Bureau. – Source NDSB describes themselves as “NDSB is a consumer-protection association specifically committed to promoting fair and ethical business practices by debt settlement companies.” – Source But here ... Read More »

      Bogus Department of Consumer Debt Mailer Really Clear Debt Solution and Legal Helpers Debt Resolution

      Department of Consumer Debt Cover

      The BBB recently released a copy of a couple of official looking debt settlement mailers labeled the U.S. Debt Reduction Initiative that appears to come from a government agency, Department of Consumer Debt. It’s all a lie. Click on image for larger view Click on image for larger view Click on image for larger view So in order to get ... Read More »

        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 »

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