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Debt Relief Industry

Student Debt Relief – Review. Are They a Scam?

Audit Stamp Shows Financial Accounting Examination

Company Name Student Debt Relief Our Impression of What the Company Offers to Consumers Advance fee student loan assistance programs. Address 151 NE 5th Ave #401 Delray Beach, FL, 33483 Comes back as an apartment. – Source Additional Contact Information Phone (866) 921-8053 Web [email protected] Company Description “We offer individuals, seeking to consolidate or lower their monthly student loan ... Read More »

    U.S. Attorney Plans More Criminal Actions in Debt Relief Industry

    White Collar Criminal

    NY officials vow attack on predatory debt-fixing (via The Dispatch) Federal authorities announced a crackdown Tuesday on predatory businesses that cheat “desperate and vulnerable” people harmed by the 2008 financial crisis with phony promises to consolidate their debt. U.S. Attorney Preet Bharara told a news conference that charges were brought against the owner and… Read More »

      The CFPB Civil Action Against Mission Settlement, Levitis, Lupolover, and Others

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      The Consumer Financial Protection Bureau (CFPB) took action yesterday in a coordinated effort with the Manhattan U.S. Attorney and took both civil and criminal action against Mission Settlement Agency and others. Named in the civil complaint filed were Mission Settlement Agency, Mission Abstract, Michael Levitis, Law Office of Michael Levitis, Premier Consulting Group, and Law Office of Michael Lupolover. Information ... Read More »

        AFCC Takes Some Action and Suspends Mission Settlement Agency

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        Yesterday I wrote an article that was critical of the AFCC for their lack of action against Mission Settlement Agency and Rescue One. I have to give them a pat on the back for doing something this time. The AFCC has taken a little bit of action and suspended Mission Settlement Agency as a member. In my opinion they should ... Read More »

          How Debt Settlement Employees Can Avoid Long Jail Time

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          Yesterday a U.S. Attorney announced criminal charges against debt settlement company owners and employees for fraudulently selling debt relief services to consumers in financial trouble. The Indictment laid out a pattern of activity that many inside debt settlement companies will recognize, if they swivel their chair around. Sadly, what has been assumed to be the normal way to run a ... Read More »

            AFCC Current Member Criminally Charged in Debt Settlement Fraudulent Scheme

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            In what must certainly be a terrible embarrassment for the American Fair Credit Council, AFCC, one of their members was criminally indicted today by the Manhattan U.S. Attorney. According to documents released today, Mission Settlement Agency, Michael Levitis, and employees Denis Kurlyand, Boris Schulman, and Manuel Cruz have been criminally indicted for misrepresenting debt settlement to consumers and engaging in ... Read More »

              Banks Talk About Easing Lending – May, 2013

              Modern business concept

              The April 2013 Senior Loan Officer Opinion Survey on Bank Lending Practices is just out and here is banks had to say about consumer lending. “Responses from domestic banks indicated that they are somewhat more willing to make consumer installment loans now as opposed to three months ago. However, only a small net fraction of banks reported having eased standards ... Read More »

                Scott Law Group Updates Debt Industry Target List

                crime scene

                The Scott Law Group has been very active in going after debt relief companies. They have recently updated their debt settlement litigation page by adding some companies and removing others. Added: American Platinum Financial Services, Inc. Consumer Debt Law Firm, Inc. The Mortgage Law Group, LLP U.S. Debt Processing, Inc. Decca Consumer Law Group The current list of companies they ... Read More »

                  Debt Collection Companies Still Think Debt Settlement Offers Are Too Low


                  A tipster (send in your tips here) pointed out to me an article in insideARM today that talks about why about half of debt collection companies do not yet work with debt settlement companies. “The second most interesting data point to emerge was only one of the top six reasons for not working with debt settlement providers related to the ... Read More »

                    Jet Debt Settlement. Are You Kidding Me?

                    Cure the disease

                    A reader and tipster (send in your tips here) sent me a copy of an email they recently received from a company called Jet Debt Settlement. We’ve got some bad news for you. Your debt isn’t going away. In fact, as You read this, it’s getting worse. Fees and Penalties are adding up. The Good News Is – We’ll Settle ... Read More »

                      Reader Not Happy With CuraDebt Advertising


                      Update April 30, 2015 CuraDebt reported an error with this post. “The information in this post were from an affiliate, and have been solved. The company has been licensed as a telemarketer and holds a bond and foreign reg. in FL. If a client sees these posts they will think the information is still valid, and fortunately at this time ... Read More »

                        Consult America Decides Credit Card Modification is New Name for Debt Settlement

                        From now on these will be called horses.

                        Companies have been scrambling to get away from the term debt settlement in an effort to try and claim the services they offer are nothing like the bad debt settlement companies that charged huge advance fees. Consult America is one such company apparently. A tipster (send in your tips here) sent me a copies of an emails they received from ... Read More »

                          Debt Settlement in Canada Drying Up Quickly


                          I was talking with a high ranking source in Canada inside the debt relief industry. They mentioned the number of debt settlement ads on radio and television have disappeared. The days of heavy debt settlement marketing in Canada are gone. They also said their contacts at national creditors in Canada are reporting new debt settlement proposals have dropped by about ... Read More »

                            Canada’s Largest Province Working to Ban Advance Fee Debt Settlement


                            Hey Canada, better late than never, eh? Tracy MacCharles, the Minister of Consumer Services, stated today, “Ontario consumers need to have confidence that they’re getting what they pay for when purchasing debt settlement services. We’re going to introduce legislation that would protect some of our most vulnerable consumers from being taken advantage of, at a time when they need the ... Read More »

                              Dear Melissa. The Conflict Between Debt Relief Sales and Consumer Needs

                              The conversation brought up the fundamental flaw in the tug-of-war between the goals of the consumer and the goals of the debt relief company.

                              Last week a commenter who only would identify themselves as Melissa came into the site and said she worked for a debt relief company and made a number of statements about her role with what appears to be a debt settlement company. Some of those comments included: “I am proud of the work we are doing here but our company ... Read More »

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