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Debt Relief Industry

Did You Know Debt Relief Recurring Revenue is Amazing?

scammer

Look at this recent ad run in Maryland. The people that ran this must certainly have no idea what they are looking at in the debt relief space. The bragging point is “No License” which would give people a wrong impression that there isn’t significant regulation involved in selling debt relief services. I wonder if prospective applicants get a copy ... Read More »

    I’d Like to Open a Credit Repair Business in California. What Should I Do? – Edward

    Dear Steve, I like to open my credit repair company in California and I can afford the down payment for the bound it is going to be $10,000 to $20,000 m I like to do this business because I know I can help a lot of people that need an honest solution to their problem, and not make them pay ... Read More »

      July, 2012 Debt Levels Ugly for Debt Relief Industry. Tea Leaves Telling Story.

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      The Board of Governors of the Federal Reserve System announced that in July, 2012 the amount of revolving consumer debt contracted by 6.75 percent. This marks another decline in the levels of consumer debt and less demand for debt relief services. Let’s not forget that as long as consumer debt drops, the level of debt person drops exponentially as the ... Read More »

        GetOutOfDebt.org Launches New Free Service for Debt Relief Industry

        Ready to Collapse

        Today we are pleased to announce a new free service for the debt relief industry. Debt relief related companies will now be able to submit their press releases directly to the site for inclusion to promote new products, services, or entities in the debt relief world. The publication of debt relief press releases is something we have done for quite ... Read More »

          What Planet is Debt Free Angels On? I’m Going With Uranus.

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          A reader sent in a tip about a claim made on the San Antonio, Texas Debt Free Angels website (debtfreeangels.com) regarding how their service helps protect a security clearance. I thought they certainly can’t be saying that. And there it is. Debt Free Angels is a debt relief company that has appeared in this site before. You can see past ... Read More »

            Ryan Sasson, Legal Helpers Debt Resolution and Others Sued by Employees New York Class Action Suit

            On September 11, 2012 a suit was filed in New York by employees against LHDR Help, Legal Helpers Debt Resolution, Macey Aleman Hyslip & Searns, Thomas Macey, Jeffrey Aleman, Jeffrey Hyslip, Jason Searns, Credit Advocates Law Firm, and Ryan Sasson. The suit was filed by Benjamin Xue, Esq. & Brian Shenker, Esq, 401 North Broadway, Suite 1009, New York, New ... Read More »

              Court Dismisses Lloyd Ward’s Suit Against GetOutOfDebt.org

              On October 7, 2011 Dallas debt settlement attorney Lloyd Ward sued my wife, myself, this site, and the company. You can read about the suit at Lloyd Ward and Lloyd Ward & Associates Sue GetOutOfDebt.org. Today the court dismissed the case. – Source Read More »

                Larry Diodato Screaming At Me Makes Me Want to Know More About August Belmont and Company

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                This story was written back in June, 2012 and we did not publish it at that time. But in light of the recent action by the Florida Attorney General against August Belmont & Company, Larry Diodato and others we are publishing it now since it is suddenly relevant in that it includes several of the entities named in the Attorney ... Read More »

                  The Future of Debt Relief Calls for Greater Transparency; Captain Debt America Answers the Call

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                  Most followers in Steve’s community are well aware that the debt settlement industry has taken its share of blows since the 2010 FTC Ruling. Unfortunately, many of the most ethical firms have born the brunt of that burden, putting increasing pressure on their finances. As competition continues to rise, legal models still claiming the attorney loophole, and state regulators remaining ... Read More »

                    Silverleaf Debt Solutions, Lloyd Ward and Others Sued by Ohio Bankruptcy Trustee

                    Lloyd Ward, Amanda Ward, Stephanie (Cherwin) Regner, Lloyd Regner at Turtle Creek Karaoke Lounge duing happier times. Now all are being sued in one or another debt relief lawsuits.

                    A bankruptcy trustee in Ohio has filed suit against the following parties: Lloyd Ward, Lloyd Ward & Associates, Lloyd Ward Group, Silverleaf Debt Solutions, fka Debt Relief RX USA, and Michael Miles. This complaint is interesting because it raises this point, “Defendants deceptively disparaged bankruptcy as a viable alternative for Debtors.” That’s the first time I can recall an attorney ... Read More »

                      Is Fast Track Debt Relief Thumbing It’s Nose at the FTC?

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                      A reader wanted to know about the representations made on the Fast Track Debt Relief website. Specifically they wanted to know if the claims made by Fast Track Debt Relief flew against the guidance given by the Federal Trade Commission when it came to making performance claims. And the reader does have a point. While Fast Track Debt Relief does ... Read More »

                        Morgan Drexen Claims Victory in Colorado Lawsuit Over Debt Management Services Act

                        A Colorado District Court has overwhelmingly ruled in favor of attorneys Drew Moore, Lawrence Williamson, Jr., and their legal support services provider, Morgan Drexen. A complaint was issued by the State of Colorado’s Attorney General’s office, arguing Morgan Drexen was subject to the state’s Uniform Debt-Management Services Act in its capacity as a legal support company. In each of the ... Read More »

                          Canadian Cambridge Life Solutions Draws More Unwanted Attention With Alleged Links to Past

                          Ready to Collapse

                          A reader sent in a tip about a recent article out in Canadian Business about the debt settlement efforts in Canada. Here are some excerpts: “The most visible of the new firms, Cambridge Life Solutions, launched a marketing campaign during the past year on radio, television and the Internet. It’s fronted by Ontario-born actor and pitchman Alan Thicke, star of ... Read More »

                            The Debt Answer and ABC Debt Relief Clients Facing an Uncertain Future

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                            A tipster (send in your tips here) sent in a copy of a recent court filing in Texas in the mosh pit of lawsuits between Lloyd Regner v. David Glenwinkel and Nisco Enterprises and Kevin Devoto v. Lloyd Regner, ABC Administrative Services, ABC Debt Relief, The Debt Answer, and Stephanie Cherwin. According to the court documents, Devoto, Regner’s former partner ... Read More »

                              FTC Slams Shut Operations of Debt Relief Marketers We’ve Written About

                              Today the Federal Trade Commission announced actions against a number of debt relief companies. Ironically, one was BlackRock Professional Corporation that I wrote about last week, here. Another was Jackson Hunter Morris & Knight, which we’ve written about here. Also named in the action are Nelson Gamble & Associates, which we’ve written about here. The FTC complaint and Temporary Restraining ... Read More »

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