Consumer Complaints Are a Chance to Shine or be in the Crosshairs

The new Acting Director of the Consumer Financial Protection Bureau is signaling what I’ve been going on about for years when it comes to debt relief companies. Regulators want everyone to just deal with the consumer complaint in a professional way. See my post How to Handle a Consumer Complaint Like a Pro And Come … Read more

NACSO Credit Repair Lawsuit Not a Fave of CFPB and FTC

The National Association of Credit Services Organizations (NACSO) that had previously sued the CFPB and FTC to force the TSR not to apply to credit repair groups, received a response from regulators. I’m not sure if I even need to waste keystrokes to write the CFPB and FTC disagree with NACSO. The latest response from … Read more

GreenPath Settlement Case Dismissed With Prejudice

As anticipated, the debt management nonprofit GreenPath has managed to terminate one of the recent lawsuits against it. This one was the case brought in Norton v. GreenPath where the claim was the debt management company was engaged in settling debt. You can read more about that case in the bottom half of this post. … Read more

CT Strikes Advocate Processing Services for Mortgage Modification

The State of Connecticut is notoriously tough on debt relief companies, This is not new. I’ve been warning companies about this for many years. The State has just announced a new action that can serve as a learning moment for others. Advocate Processing Services and Jonathan Michael Kelley have been issued this order. The order … Read more

GreenPath Suffers Setback in Recent Lawsuit That Applies to All Debt Management

The folks at Greenpath, the non-profit debt management company, were recently sued. I wrote about that here. Greenpath attempt to get one of the suits dismissed In the Pries-Daniels suit where it was alleged GreenPath was charging fees that did not comply with Georgia law, the Court denied the claim to dismiss the case. I’m … Read more

How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off

Here is a guide to help avoid being cheated or scammed by a business or company and check out or evaluate a company for free before you decide to pay them money for services. Since I am a consumer debt expert, this advice will center around that niche, but the core lessons apply to every … Read more

How to Handle a Consumer Complaint Like a Pro And Come Out Smelling Like a Rose

Over the years of writing about the debt relief space, I’ve grown exceedingly frustrated by companies that can’t seem to deal with consumer complaints or unhappy clients positively and constructively. They seem to relish shooting themselves in the foot, time and time again. A client complaint is a perfect opportunity to win over new clients … Read more

What I Learned From Selling Debt Relief Services. What I Got Wrong and Right On the Front Lines.

I had this idea for an article to look back to my early days in the debt relief world, back when I was running Myvesta, a non-profit credit counseling group, and show you examples of what I did wrong and learned from the experience. The irony is people don’t realize when I review a site … Read more

You Didn’t Need to be Psychic to See That Coming – DMB Financial

Not long ago I wrote about a debt relief company, DMB Financial that sued the Consumer Financial Protection Bureau (CFPB) in what looked like an effort to get out from under an investigation. See this post. Well, a few minutes ago, I was notified the CFPB went ahead and sued them. The CFPB said, “Today, … Read more

Connecticut Goes After Attorney for Debt Negotiation Services

It’s been a long time since I’ve seen Connecticut go after someone for debt adjusting or debt negotiation services. But it looks like they are back. The State alleges that Pedroso Legal Services LLC a/k/a ELAWNJ.COM accepted money from one Connecticut consumer for debt help. “7. Legal Services is a New Jersey limited liability company … Read more

Debt Management Plan Providers Need Budget Advice to Stay in Business

We are creeping up on nearly two decades of account fee restrictions for nonprofit debt management plan providers. The counseling groups fought hard and heavy in the early 2000s to limit the fees they could charge consumers for budget advice and debt management plans. For example, in 2003, the State of Maryland enacted The Debt … Read more

DMB Financial Sues CFPB to Stop Investigating Them

DMB Financial filed suit yesterday agains the Consumer Financial Protection Bureau (CFPB). DMB Financial says, “In 2016, the Commonwealth of Massachusetts initiated an investigation against DMB that was designed to seek retribution for DMB’s Chief Operating Officer exercising his right to appear in front of the State Legislature to oppose legislation the Commonwealth’s Attorney General … Read more

CFPB Sues Student Loan, Credit Repair, and Debt Settlement Company

Today, the Consumer Financial Protection Bureau (Bureau) filed a lawsuit against FDATR, Inc., and its owners, Dean Tucci and Kenneth Wayne Halverson. The Bureau alleges that FDATR, Tucci, and Halverson violated the Telemarketing Sales Rule (TSR) by engaging in deceptive and abusive telemarketing acts or practices and the Consumer Financial Protection Act of 2010 (CFPA) … Read more