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Debt Relief Industry

South African Debt Relief Industry Punches Creditors in Face

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Now here is something you’d never see in the United States or England, debt relief major players fighting back hard against the creditors trying to take control of how consumers are served and to fight collectively against creditor control over the process. Enjoy the statement on recent activity below. South African Debt Relief Industry Punches Creditors in Face – Click ... Read More »

    Cambridge Credit Counseling Talks About Fair Share Creditor Funding

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    Below you will find the latest release from Cambridge Credit Counseling regarding their transparency project. I personally do have to give them a huge hat tip for their unique willingness to post open and transparent information about the measurement of their services and client performance. You can see more about your their latest data release, here. While I have been ... Read More »

      Take Charge America to Get Their Non-Profit Tax Status Restored

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      Take Charge America, a non-profit credit counseling organization, has been in a battle with the IRS regarding the loss of their 501(c)3 tax status. The tax status for the organization has been retroactively returned to December 11, 2011 after a settlement was reached with the IRS. As part of the settlement Take Charge America agreed to give up their rights ... Read More »

        World Law Debt Assistance – Company and Site Review – Watch Out!

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        The following review was generated as the result of a request made by a tipster (send in your tips here) who wanted me to look at this allegedly new debt relief company. While the company says their corporate office is in Texas, a search of the Texas Secretary of State records could locate no company registered under the name of ... Read More »

          Debt Settlement Targets Ohio, Nearly Half Want to Skip Christmas, NY AG Sues Bank

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          Debt settlement companies lobbying Ohio for entry into the state Companies that charge up-front fees for working with consumers to settle tens of thousands of dollars in credit-card debt are pushing for a bill in the lame duck legislative session that would allow them to operate in Ohio. The “debt settlement” industry has been advocating for legislation in Ohio for ... Read More »

            Details on Minnesotta Action Against Legal Helpers and Others

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            Earlier I reported that Legal Helpers was uninvited from offering services in Minnesota. See this article. I now have more details on the matter. According to a document signed by Steven Carlson, Deputy Commissioner, Minnesota Department of Commerce, the state laid out the facts as they asserted them in a Cease and Desist order. Statement of Facts CDS Client Services, ... Read More »

              Minnesota Tells Legal Helpers and Friends to Get the F Out

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              The State of Minnesota has issued notice to Legal Helpers Debt Resolution and some affiliates that they are not welcome in the state and calls them a sham. “Minnesota consumers struggling with debt asked Legal Helpers for assistance, but instead they reported that they were scammed out of money they couldn’t afford to lose. These consumers were trying to pull ... Read More »

                Take Charge America in a Bad Spot With Good People

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                Last week I received the following tip regarding Take Charge America. “Once again Take Charge America lays off more employees. After filing suit against the IRS and having to lay off a large number of employees in March 2012. The CEO and COO resigned in October, and now with the CFO acting as CEO they have laid off more employees. ... Read More »

                  Credit Card Delinquency Rates Jump Up. Balances Rise Also.

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                  CHICAGO, IL–(Marketwire – November 19, 2012) – The national credit card delinquency rate (the ratio of borrowers 90 or more days past due) increased slightly to 0.75% in Q3 2012 from 0.71% in Q3 2011. This rate had been 0.63% in Q2 2012, a seasonal low. Average credit card debt per borrower also increased on a yearly basis by 4.91%, ... Read More »

                    UK Debt Settlement Company Loses License to Offer Debt Relief Help

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                    The Office of Fair Trading in the UK has eliminated a debt relief company license to offer debt help. The OFT has decided to revoke the credit licence of First Step Finance Limited (FSF), a large debt resolution company based in Stockport. The OFT has reached this decision because, among other matters, the company: was not sufficiently transparent when describing ... Read More »

                      US National Legal Solutions and Performance Debt Resolution Named by Connecticut

                      The Connecticut Department of Banking has issued an update on debt relief companies they have gone after. Frequent readers will recognize that Connecticut is very tough when it comes to companies operating without a debt relief license in the state. The most recent companies named are: US National Legal Solutions US National Legal Solutions a/k/a USNLS, Inc. 92 Corporate Park, ... Read More »

                        National Relief Hotline – Not What You Think

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                        Early this morning I was watching television when the same commercial for National Relief Hotline began running over and over. It caught my attention. It’s important for consumers who see the commercial for National Relief Hotline to understand what exactly it is. The commercial promotes the company can assist consumers who are dealing with: Foreclosure Denied Loan Modification Missed Mortgage ... Read More »

                          FTC Says Debt Relief Programs Still on the Radar to Target in 2013

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                          The Federal Trade Commission has just announced their accomplishments for 2012 and objectives moving forward into 2013. Along with a number of issues, like deceptive business opportunities, and identity theft, they have also renewed their focus on the debt relief industry. As part of their targeted sector statements they say, “Fraud operators have seized upon new schemes to take advantage ... Read More »

                            Chris Kohl at JP Morgan Chase Would Probably Love to Know if This is True

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                            Rumors are flying and now it’s time for you to share what you know on this. Two different very reliable sources have shared with me two similar stories that have piqued my interest. Apparently, a very large national debt settlement company has been pitching the idea of pairing up with some non-profit credit counselors to sell their debt management plans ... Read More »

                              Companies Need to Watch Out for the FTC on Deceptive Ads

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                              An article in Adweek talks about focus the Federal Trade Commission has had in going after advertisers for deceptive advertisers. It’s a good read for those that either engage in marketing or hire outside parties or lead vendors to represent their services. The big takeaway is that the FYC is not just concentrating on going after scammer, but also legitimate ... Read More »

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