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Debt Relief Industry

Debt Remedy Solutions Closes and Tells Clients to Do It Yourself

debtremedy

A tipster (send in your tips here) wrote and said Debt Remedy Solutions just closed up shop and is now advising clients to deal with their creditors directly. The reader said that this advice was given to clients when they call the toll-free number at 866-597-0730. And sure enough, that’s what the message says. Listen to Debt Remedy Message The ... Read More »

    Mike Wayman and Don Brokaw Sued over Mortgage Scam Operation

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    The Lawyers’ Committee for Civil Rights Under Law (Lawyers’ Committee) has filed a lawsuit in Riverside County, California against a network of for-profit loan modification companies on behalf of 16 homeowners from California and five other states. The suit alleges that defendants defrauded vulnerable homeowners out of tens of thousands of dollars by falsely promising to obtain—for substantial upfront and ... Read More »

      UK Debt Relief Companies Criticized for Advance Fees

      Research launched today by Lloyds Banking Group and the Money Advice Trust has raised several concerns over the practice of struggling households being charged fees for debt management plans. The research, conducted by the Centre for Research in Social Policy at Loughborough University, suggests that debt management plans set up by fee-charging companies were more likely to fail as arrangements ... Read More »

        Bankruptcy Filings Down in 2012. Continued Bad News for Debt Relief Industry.

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        The latest statistics out from the United States Courts show that bankruptcy filings are dropping. That’s good news for consumers and bad news for companies that sell debt relief services. According to filing data, the number of non-business bankruptcy filings for the same year-on-year period ending September 30 has significantly dropped. Chapter 7 bankruptcy filling dropped from 1,036,950 to 874,337. ... Read More »

          Morgan Drexen Threatens This Site to Remove Links

          Ready to Collapse

          I can only assume that Jennifer Hamlin from Morgan Drexen did not intend to threaten this news site, but that’s exactly what happened with this email we just received. “Please remove any and all links to morgandrexen.com or www.morgandrexen.com from www.getoutofdebt.org and any other websites you are in control of that link to our website. The following URL is containing ... Read More »

            Have a Laptop and Fax Machine? You Can be a Professional Debt Counselor

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            This advertisement for a debt counselor caught my eye. “DEBT COUNSELORS needed in the field of Debt Management. This is an excellent opportunity for: Insurance Agents, Accountants, Retired Military or anyone with a Sales background. You must have a Laptop and a Fax machine. We help our clients Lower their Monthly Payment, Lower their Interest Rate * Have only One ... Read More »

              Nova Scotia, Canada Cracks Down on Debt Settlement Companies

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              Nova Scotia, Canada has recently introduced new legislation to help protect consumers from debt relief companies and rogue debt collection companies. The Debt Collection and Management Reform (2012) Act will target debt relief companies that make disturbing marketing practices and unachieved promises. It will also target debt relief companies that charge advance fee or up-front fees for debt help. “The ... Read More »

                When It Comes to Connecticut Why Are Debt Relief Companies So Stupid?

                It seems like every few weeks I’m covering administrative actions against debt relief companies in Connecticut. I’m sure the State is as sick and tired of issuing these fines and penalties as I am of covering them. Yet companies seem to insist in selling services in Connecticut without the proper licensing. Here is the latest round of debt relief companies ... Read More »

                  Nigerian Christian Web Network for Debt Settlement – Insane

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                  A tipster (send in your tips here) forwarded me a link for a debt relief company called Christian Web network located in Nigeria. The advertisement was a request for debt settlement companies to engage with them in hopes of creating a “lucrative” business relationship. – Source If this is being directed towards debt settlement companies or consumers in either the ... Read More »

                    Dano’s Debtbusters – Site Review

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                    Company Name Dano’s Debtbusters Address 411 Cahaba River Est. Drive Birmingham, AL 35244 This address is also used by Indian Springs Lumber Company. – Source Additional Contact Information Phone: 865-922-0659 Fax: 865-622-6493 Email: [email protected] Web: www.ddbllc.com Company Description “We want to work with people who realize that they cannot expect to be blessed financially when they do not follow God’s ... Read More »

                      Debt Settlement Employee Wants to Know Why a Company is a Scam

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                      A tipster, Rick, (send in your tips here) sent in the following comment: “Please look into this company headquartered in Illinois. I work at a settlement company and we have major headaches due to this company setting up long term payment plans then when it is paid in full they never pay the creditor! This has happened several times. So ... Read More »

                        Credit Counselor Teaches People How to Beat Chase Bank Out of Interest

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                        I’m a bit stunned that Accelerated Debt Management put how to beat Chase Bank out of the interest they charge, but oh well. But then again, maybe they don’t get any fairshare from Chase Bank so they don’t give a shit or feel they have to suck up to Chase as most credit counselors do. And they apparently hate debt ... Read More »

                          South African’s in Debt Counselling Can Lower Credit Insurance Rates

                          Deborah Solomon of The Debt Counselling Industry

                          The Debt Counselling Industry in South Africa has announced a new insurance product to assist consumers struggling with financial troubles. In South Africa, when consumers are working with a registered debt counsellor who can put together a court approved and mandated repayment plan, up till now there has been little relief from the exorbitant fees paid to creditors when they ... Read More »

                            Washington Class Action Suit Refocused on Lloyd Ward and Meracord

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                            Back in July a class action lawsuit was filed against Meracord (formerly NoteWorld) and Lloyd Ward, the Dallas debt settlement attorney who has sued my wife and I. The first compliant filed was a bit meandering and did not focus that much on the activities of Ward and his debt settlement companies. It appears the filing attorneys and firms have ... Read More »

                              FinancialHope Counseling and Education the New Version of Consumer Credit Counseling Service of Northeastern Indiana

                              A newspaper report out of Ft. Wayne, Indiana says that Consumer Credit Counseling Service of Northeastern Indiana is attempting the old rebrand move. I guess the Consumer Credit Counseling Service name doesn’t have the same positive benefit it once did. – Source I’m not sure if this agency is new at the rebranding effort or just behind in the branding ... Read More »

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