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Debt Relief Industry

GetDebtAid.com Student Loan Reduction Program – Review. Are They a Scam?

Audit Stamp Shows Financial Accounting Examination

Company Name GetDebtAid.com Our Impression of What the Company Offers to Consumers I spotted an advertisement for student.getdebtaid.com. The advertisement took me to a site that appears to be nothing but a lead generation site. The claim is that people may qualify for student loan debt relief but no programs are actually expiring. In my opinion the advertisement is misleading. ... Read More »

    Student Loan Consolidation Assistance Slippery Slope of Compliance

    Screen Shot 2013-03-04 at 3.30.07 PM

    Recently the site has received a number of great comments about if student loan consolidation assistance services should be regulated or are already regulated under state laws.You can read all the article on this topic, here. When talking about compliance issues for student loan assistance programs the argument seems to come down to one of two statements. We Are Not ... Read More »

      Connecticut Spanks New Crop of Debt Relief Companies

      Black Leather Flogging Whip and money on white background. Not i

      The latest data is out from the Connecticut Department of Banking identifying the debt relief companies they’ve taken some action with since January 1, 2013. As I’ve said time and time again, you don’t mess with Connecticut unless you are licensed as a debt relief provider and comply with the laws of the state. They don’t take kindly to debt ... Read More »

        Student Loan Assistance Companies Need a Good Debt Relief Lawyer

        White Collar Criminal

        The more I talk to regulators around the country the more I’m hearing that student loan assistance companies that charge advance fees are operating illegally in a number of states. The issue is a bit murky at the moment but the argument is student loan assistance companies are charging advance fees and charging a fee for a service to assist ... Read More »

          National Debt Relief Needs a Time-Out for Bad Behavior

          oops

          A tipster (send in your tips here) sent in a question that made me want to investigate further. The reader said: “I read your recent article on National Debt Relief (same ownership as Eagle One). They are notorious for allegedly setting up fake ratings sites to make consumers believe they are a top rated debt relief company. This erodes consumer ... Read More »

            Nation Wide Consumer Debt Relief – Review. Are They a Scam?

            Audit Stamp Shows Financial Accounting Examination

            Company Name Nation Wide Consumer Debt Relief Our Impression of What the Company Offers to Consumers My initial reaction is their claim to be able to improve your credit score for an advance fee seems to run into trouble with the Fair Credit Organizations Act. For a company that’s been around since 2006, they don’t appear to have spent any ... Read More »

              My College Loan Support / Default Student Loan Specialists – Review. Are They a Scam?

              Audit Stamp Shows Financial Accounting Examination

              Company Name My College Loan Support Default Student Loan Specialists Our Impression of What the Company Offers to Consumers Student loan consolidation services. However, the company can’t be verified, the management is a mystery, the local appears to not be a real address and the domain ownership is hidden. The company also did not send the client agreement for review ... Read More »

                Student Loan Repair Center – Review. Are They a Scam?

                Audit Stamp Shows Financial Accounting Examination

                Company Name Student Loan Repair Center Our Impression of What the Company Offers to Consumers Promises to lower student loan payments or get student loans forgiven. Makes big claims on home page of results but does not give any support if those are typical results. Address Not available on contact us page. Only available in privacy policy. www.loanrepaircenter.com 1424 Hammocks ... Read More »

                  Student Loan Managers – Review. Are They a Scam?

                  Audit Stamp Shows Financial Accounting Examination

                  Company Name Student Loan Managers Our Impression of What the Company Offers to Consumers The company appears to offer services for federal student loans only to consolidate and/or reduce monthly payments or discharge student loans. Yet these services are available for free directly through the Department of Education to consumers but the company is not transparent about that fact. Depending ... Read More »

                    How to Run a Clean Student Loan Assistance Program

                    thumb up

                    Since I started writing about student loan rescue or assistance programs that look like they take unfair advantage of consumers I’ve heard from some that would like to know what a “legitimate” student loan assistance program actually would look like. You can see the current list of articles on this subject of student loan assistance or rescue issues, here. My ... Read More »

                      I’m Skeptical About Selling Tax Resolution for Tax Defense Network. – Sean

                      hiding

                      “Dear Steve, Hello I read this post after some research I had done on the tax industry. I interviewed for this job (source) and they said i would sell for the biggest and best tax relief company in the country and make more money on commission than I do at my current job making over six figures in commission. I ... Read More »

                        National Debt Relief and American Debt Enders Consumer Rating Not True

                        oops

                        On February 14, 2013 TopConsumerReviews.com put out a press release stating National Debt Relief and American Debt Enders made the list of companies selected for the TopConsumer Reviews.com website in the debt relief category. – Source Their press release uses the image showing the two companies received the top place and a five star rating. There’s only one problem, according ... Read More »

                          Federal Student Aid Relief Website Generates Legitimate Concerns

                          Audit Stamp Shows Financial Accounting Examination

                          A reader wanted to know more about a company called Federal Student Aid Relief that operates a website (FederalStudentAidRelief.com) with a picture of a capitol building on the site. The reader claims they did a bit of secret shopping as well and said, “When I called them I got a guy with a heavy New York accent who definitely implied ... Read More »

                            Mack Financial Solutions / MFS – Site Review

                            Audit Stamp Shows Financial Accounting Examination

                            A reader contacted me and said: “Do you have any knowledge of Mack Financial Solutions in Las Vegas, NV. About 5 years ago I was referred to them from a fellow real estate investor because this company says they can help build business credit. They are still in business today. I have a very deep financial background in banking, lending ... Read More »

                              creditDMS / Credit DMS – Site Review

                              Audit Stamp Shows Financial Accounting Examination

                              Nichole wanted to know, “What do you know about CreditDMS?” I had not heard of them before so I went and took a look. The results of my review are below. Company Name creditDMS, Credit DMS Address Texas-Corproate 421 HWY, 120 West, Suite #4 Pottsboro, TX 75076 – Source California – Administration 14661 Myford Rd. Suite 200 Tustin, CA 92780-7205 ... Read More »

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