Latest Posts
Home > Debt Relief Industry (page 24)

Debt Relief Industry

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


    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

      Screen Shot 2012-11-15 at 1.00.09 PM

      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


        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

          Screen Shot 2012-11-14 at 3.07.33 PM

          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 »

            Consumer Credit Counseling Settles Debt on 50% of its Clients – 1968

            Screen Shot 2012-11-14 at 1.52.41 PM

            As a student of debt history I’m probably one of those odd geeks that spends time reading outdated and arcane material about consumer debt and debt relief activities. Recently I sat down and read a 1968 document put out by the NFCC. Today they are called the National Foundation for Credit Counseling but back then they were the National Foundation ... Read More »

              Jeffrey Hyslip from LHDR Starts New Debt Relief Company – Lifetime Debt Solutions

              Screen Shot 2012-11-14 at 11.19.54 AM

              A tipster (send in your tips here) notified me about a new website, Lifetime Debt Solutions. This debt relief company appears to be the newest incarnation of Jeffrey Hyslip, Esq. of Legal Helpers Debt Resolution fame. Like Legal Helpers Debt Resolution, Lifetime Debt Solutions is located in Chicago, and just down the street on S. Wacker Drive. The company, Lifetime ... Read More »

                Is the BBB Logo on the Debt Savers Website Misleading?

                Screen Shot 2012-11-13 at 1.53.20 PM

                A tipster (send in your tips here) asked me to look at a website for a debt relief website called Debt Savers. Their concern was the use of the BBB logo as a badge of trust by this company. And they are correct, the Debt Savers website at or does display the BBB Accredited Member logo on the ... Read More »

                  Debt Remedy Solutions Closes and Tells Clients to Do It Yourself


                  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

                    Screen Shot 2012-11-08 at 5.25.12 PM

                    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.

                        Screen Shot 2012-11-07 at 1.56.13 PM

                        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 or from 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

                            Screen Shot 2012-11-06 at 3.39.09 PM

                            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


                              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 »

                                Get My FREE Get Out of Debt Guy Newsletter

                                I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.You can unsubscribe at any time with just one click.After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

                                I promise to keep your email safe and secure.