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Debt Relief Industry

Hey USOBA, Accountability, Credibility, Transparency. LOL.

USOBA Credibility & Transparency

I will admit, this is a real pet peeve of mine these days but why would the trade association United States Organizations for Bankruptcy Alternatives (USOBA) not want to make their membership list public? I have sent several-many emails requesting a copy of their membership list. I’ve made the request several times directly to the executive director of USOBA, but ... Read More »

    USOBA, Inactive Corp, Integrity Debt Services Guarantees 55% Debt Reduction

    I’d like for you to watch the two videos and tell me what you think of the statements and promises made by Alan Palange of Integrity Debt Services. Unrealistic? [flashvideo file=/wp-content/uploads/ids1.flv /] [flashvideo file=/wp-content/uploads/ids2.flv /] What I find interesting is that Integrity Debt Services is really a fictitious name for Loan Assistance of America, LLC which is controlled by Ocean ... Read More »

      One Debt Settlement Contract That Includes – Phillips Financial, Expert Settlement Professional, NoteWorld, Global Logistics Enterprise, FBL Associates, Prepaid Legal and National Asset Exchange

      CallDevice

      Here is an excellent example of how confusing and convoluted the debt settlement industry has become. Phillips Financial is a debt settlement company that has people sign a contract for their services that includes services provided by seven different or interrelated companies. Imagine having to contract with seven different companies to get the services promised to you by just one ... Read More »

        Lawyer Based Debt Settlement Networks Should Prepare for Lawyers to Be Sanctioned or Disbarred

        Ready to Collapse

        The Chicago Tribune wrote today about a case I’ve talked about before, the State of West Virginia suit against Credit Card Defense Network (CCDN) and attorney Robert Lock. What makes this case so interesting is that State is going after the attorney due to the relationship the attorney had with marketing firms that attracted clients for the legal firm debt ... Read More »

          TASC & USOBA Here It Comes. You’ve Got Nobody But Yourselves to Blame.

          Ready to Collapse

          Lot’s of items are all coming to a head this week regarding the debt settlement industry. The debt settlement trade associations have been called, on short notice, to a hearing to be held by the U.S. Senate on April 22, 2010 where my bet is they will not be met with party favors and a cake. I bet the Senate ... Read More »

            Capital Protection Group Makes Crazy Settlement Promise

            I can not believe the following statement from the debt settlement company Capital Protection Group. While other debt settlement companies try to get 50% off your debt, if their lucky, the Capital Protection Group will have you pay back less than 10%. – Source In my opinion that is a totally unfounded claim and one that, if regulators saw it, ... Read More »

              Settlement Rating System of America (SRSOA). I’m Going With Laughable.

              In doing research for an article I’m working on and I kept getting emails from a debt settlement company sales person saying I needed to check them out with the Settlement Rating System of America web site. The sales guy kept saying “You will see we have a AAA rating.” So I went over to look at Settlement Rating System ... Read More »

                65 Percent of People That Enroll in Debt Settlement Programs Bail Before Creditors Contacted

                Ready to Collapse

                An interesting article out of illinois, Our Opinion: Put curbs on debt settlement companies, contains a very interesting quote from the Attorney General of Illinois, Lisa Madigan. “What we have learned is that 65 percent of people who initially enroll with debt settlement companies drop out before any communication (with creditors) has been made. Before any of their debt has ... Read More »

                  Hey Mr. Check in Detroit, Michigan, What the Hell?

                  I saw this advertisement for a company called Mr. Check. Mr. check has 20 years of credit consolidation service under its belt. We can help you clean your credit and bring your score up, as well as help you get the loans that you need. Mr. Check will stop those debt collectors from calling and harassing you and we will ... Read More »

                    Here’s How Debt Settlement Companies Plan to Get Around New Consumer Protection Rules – Go Offshore!

                    Debt Settlement Companies Move Offshore

                    Here is a recent debt settlement company trade association presentation from The Association of Settlement Companies (TASC) that appears to suggest to TASC members to consider circumventing new consumer protection rules to come from the FTC by avoiding traditional phone lines, moving operations offshore like gambling and payday operations, and selling discounted medical & health products with the debt settlement ... Read More »

                      Liberty Law Firm in California. Is It Brian Colombana, Esq. or American Financial Modifications?

                      I’m curious if anyone has used the loan modification services of a company that was called American Financial Modifications and they are now called Liberty Law. – Source Here is what I know so far. There are two sites for California companies that say they are Liberty Law Firm. See llfirm.net (source) and libertyfirm.org (source). The toll-free number for American ... Read More »

                        Debt-Agency.us, Debt-Experts.net and TheConsumerStandard.com Running ‘Deceptive’ Stimulus Debt Settlement Advertisements

                        The Consumer Standard Debt Settlement Advertisement

                        Yesterday I came across a link to http://theconsumerstandard.com/v1/debt.php which took me to the page below. What struck me about the advert was how it made it appear there was some new federal or state law that allowed people for a limited time to reduce their debt by 50%. The link at the bottom of the page “Reforms to Protect American ... Read More »

                          More Deceptive Debt Settlement Marketing – Destroy My Debt

                          Here is the ironic part, I wasn’t even going to look at this page that appeared in my RSS reader under “debt settlement marketing” but unfortunately, I did, and it pissed me off. Here is what I saw: What Are The 5 Advantages Of Using A Debt Settlement Company? Author : Larry Potter | on 11th Apr 2010 1. Reduce ... Read More »

                            US Debt Resolve Get More Bragging Rights With ISO 9001

                            Ready to Collapse

                            US Debt Resolve, the company I was bragging about last week for embracing my call for openness and transparency in the debt settlement industry. The just forwarded the following release to me so as a reward for publishing their customer data and stats I’m doing something I never do, publish forwarded press releases. US DEBT RESOLVE IMPROVES PERFORMANCE WITH ISO ... Read More »

                              CreditAnswers Bailout Television Ad – Misleading

                              Ready to Collapse

                              I just saw the Credit Answers television ad on television. The messages it contained struck me as bordering on deceptive and misleading. The impression an average viewer will get from this ad is that government bailout programs given them a right to settle their debt and that debt settlement will be less harmful than bankruptcy. Watch the ad below and ... Read More »

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