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Debt Relief Industry

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

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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 ( 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 »

            Non-Profit Debt Settlement – Financial Hope for America. Who Are They Really?

            Financial Hope for America Site

            Last night I saw an ad for a non-profit group promoting debt settlement. It was a company I had not heard of before called Financial Hope for America. It piqued my interest to see a non-profit group wandering so boldly into the debt settlement arena, especially when the domain name I saw advertised was Rather than just give you ... Read More »

              What Debt Settlement Trade Associations Have in Common With the Payday Loan Industry – Denial.

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              I was reading an article on the payday lending efforts to stop legislation that would regulate their industry and I thought the comments made about the payday lobbying efforts had a direct correlation that what has been happening in the debt settlement world, especially with the belief that regulation is dead since the Debt Settlement Consumer Protection Act was not ... Read More »

                Text of HR 5387 Version of Debt Settlement Consumer Protection Act of 2010

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                Here is the text of HR 5387 that was proposed in the House of Representatives. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? HR 5387 IH 111th CONGRESS 2d Session H. R. 5387 To amend the Consumer Credit Protection Act to provide for regulation of debt settlement services, and for other purposes. IN THE HOUSE OF ... Read More »

                  It’s Confirmed. FBI Looking Into Debt Settlement Companies

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                  I just got off the phone with Special Agent Dupre from the FBI who confirmed that as part of their economic crimes push the FBI is looking for cases involving consumers that have been defrauded by debt settlement companies and other economic crimes. Special Agent Dupre told me they are looking for “violations that rise to the level of opening ... Read More »

                    Oregon Creates Web Page to Turn in Illegal Debt Settlement, Debt Management and Credit Repair Companies

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                    The State of Oregon now has a dedicated page on their site for consumers to report ads for debt relief companies. Apparently Oregon is also targeting debt relief companies that advertise on the web as well as television. radio and mail. The page says: HELP STOP ILLEGAL DEBT MANAGEMENT COMPANIES IN OREGON Have you heard or seen ads for companies ... Read More »

                      HR 5387 Introduced to Regulate Debt Settlement Services

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                      I don’t have the text of the bill yet but HR 5387 was referred to the House Committee on Financial Services on May 25, 2010. The bill amends the Consumer Credit Protection Act to provide for regulation of debt settlement services. The sponsor of the bill is Rep. Luis Guiterrez, IV of IL and cosponsors are Rep. Keith Ellison of ... Read More »

                        Balboa Law Group, MBM Group, Loan Modification Group Appear to be Taking Money But Not Delivering Loan Modifications

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                        It sure seems like Orange County in California is a hub in loan modification scams. Here are some excerpt from a story “Home loan modifiers scam families out of $3,000 each” that is worth reading. When the economy and real estate market went south, many families went to home loan modification companies to save their homes. But, more than a ... Read More »

                          Debt Settlement USA Nailed on MSNBC With Debt Settlement Victim

                          Debt Settlement USA was nailed today on MSNBC as an alleged scam. Three years ago, Kopycinski was told by several advisers that he should file for bankruptcy. His finances were a wreck. He held $35,000 in credit card debt and was on the hook for a car loan that he’d co-signed for a family member. On his salary as Catholic ... Read More »

                            NFCC Scores Amazing PR Coup. Jean Chatzky Joins Board

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                            Jean Chatzky has a huge voice in the media world as a respected adviser for consumer finance issues. Seeing how she was just named to the board of the National Foundation for Credit Counseling I bet it only amplifies the press voice that non-profit credit counseling will be the solution of choice. Oh yes, and then there is the appointment ... Read More »

                              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 »

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