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Debt Relief Industry

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

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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


      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: 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 »

                        Why Can Debt Aid Processing Say They Are an FTC Approved Company?

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                        A tipster (send in your tips here) sent in information on a company, Debt Aid Processing, they were surprised to see a debt settlement company claiming such a thing. “I didn’t know the FTC approved of any company let alone a debt settlement company. Do you know if the FTC has actually approved this company? If not, i find this ... Read More »

                          Innovative Wealth Builders Settles With Missouri Attorney General.

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                          Thanks to a tipster (send in your tips here) a company I’ve written about before, Innovative Wealth Builders, has been found in the news. According to the office of the Missouri Attorney General, Innovative Wealth Builders is willing to pay a $36,000 settlement to the State. Here is the official statement sent out by the AG: “Attorney General Chris Koster ... Read More »

                            Debt Relief Companies and Time-Barred Debt. New CFPB Rules.

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                            The Consumer Financial Protection Bureau has put out an examiners guide for debt collection agencies. Much of the information is of less interest to debt relief companies but one small section creates an important issue that debt relief companies should pay attention to. In the past we’ve written about the inclusion of time-barred debt in debt relief programs, including credit ... Read More »

                              An Examination of New CFPB Debt Collection Rules

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                              The Consumer Financial Protection Bureau (CFPB) has released new rules that will give it the authority to supervise the activities and actions of the nations largest debt collection agencies. While supervision does not extend to all debt collection groups, the lessons learned will. The CFPB stated that the purpose of this action and regulations of the debt collection industry was ... Read More »

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