Latest Posts
Home > Debt Relief Industry (page 110)

Debt Relief Industry

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 [email protected], 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 [email protected] 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 Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? 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 »

                                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.