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Debt Relief Industry

First for Me: Inmate Runs Debt Relief Company?

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As I do every day, I scan the news for new and interesting items that have something to do with the debt relief world. I must admit this little item is a first for me. Jeffrey W. Paul, who presently resides in a prison in Indiana, is appealing a recent verdict on another matter. In fact he is suing the ... Read More »

    Ut Oh, New Bankruptcy Estimates Out

    Fitch Ratings, the global rating agency that proves banks with prospective credit opinions, research and data, is expecting a further decline in personal bankruptcy filings for 2012. That news only spells a lessened demand for other debt relief services like credit counseling and debt settlement. If consumers are not seeking protection under bankruptcy, historically, demand for the other ancillary services ... Read More »

      A New Horizon Credit Counseling Services Pulls the Plug on Debt Management

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      A tipster (send in your tips here) just sent in this email purported to be from A New Horizon Credit Counseling Services announcing their withdrawal from providing debt management services. Read More »

        Debt Settlement Advice for Debt Settlement Companies and Consumers – Part 6 – How to Do Simultaneous Settlements

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        One of the reasons I have been writing these articles is to shed some light to the industry about settling debt simultaneously, its reliability, and its advantages for consumers. Our evaluation process at Debt Relief A La Carte is probably more broad than the typical debt settlement approach. So, to help debt relief companies identify simultaneous options and opportunities, this ... Read More »

          Greenpath Pays Credit Counselors More

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          A reader forwarded me a link to a site called Glassdoor where people can do salary searches for specific jobs by salary or opening. The results are kind of interesting. If you sought to be paid the most as a credit counselor, according to Glassdoor, the last place you want to work is Arizona Federal Credit Union. The highest paying ... Read More »

            Debt Settlement Myth #6: It’s Safe To Take 36-48 Months To Settle My Debts

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            This is the sixth in a series of posts discussing the most common myths about do-it-yourself debt settlement. Most traditional debt settlement firms are still quoting program durations of 36-48 months, sometimes longer, and clients are led to believe that it’s safe to take that long. By “safe,” I mean a low risk of lawsuit activity. After all, multiple lawsuits ... Read More »

              Golden Financial Services No More Credit Cards Site is an Embarrassment to the Debt Relief Industry

              About us | Credit Card Debt Relief at No More Credit Cards (20120718)

              I’ve previously written about the marketing efforts of Golden Financial Services but the press release sent out by them today is frankly, just flat out embarrassing. The press release is to promote a website “No More Credit Cards.” The release identifies Rachell Donovan as the contributing editor of the site and quotes he as saying “debt settlement or debt negotiation ... Read More »

                Miracle Debt Elimination Tool Revealed at Comic-Con

                Photo Credit: ElfDomx

                Marketers were besides themselves today at Comic-Con as a major new debt relief tool was revealed. “This will be big, I mean really big,” said one debt relief salesperson that was happy to speak on record but could not remember his last fake name he used. “Johnny, who am I this week?” “We are going to be selling this shit ... Read More »

                  A New Horizon, Credit Answers and Others Out of Colorado

                  A tipster (send in your tips here) just alerted me to the fact that the State of Colorado now lists the following debt relief organizations as cancelled or revoked effective July 1, 2012. A NEW HORIZON CREDIT COUNSELING SERVICES INC 2700 W CYPRESS CREEK RD STE 129 D FORT LAUDERDALE, FL 33309 Registered: 2008 CORNERSTONE CREDIT COUNSELORS INC DBA: DEBTSTOPPERS ... Read More »

                    Legel Helpers – Macey Bankruptcy Pulls the Plug and Merges With Jacoby & Meyers

                    According to information obtained, Macey bankruptcy has decided to merge with Jacoby & Meyers, L.L.C. The resulting national bankruptcy practice section of Jacoby & Meyers will be known as Jacoby & Meyers-Bankruptcy, L.L.P., and will have the combined resources of the two nationwide law firms. Jacoby & Meyers will now have more than 135 offices and be available to practice ... Read More »

                      Details in on Multi-Million Dollar Settlement by Legal Helpers Debt Resolution / Macey, Aleman, Hyslip & Searns

                      I’ve previously published information about the July 2, 2012 settlement reached between the State of Illinois and Legal Helpers Debt Resolution AKA Macey, Aleman, Hyslip & Searns. Here are the details of the filed settlement and I would be stunned to see how Legal Helpers Debt Resolution could call this a victory supporting their position as an attorney model debt ... Read More »

                        Loan Delinquencies Fall to Lowest Points Since Recession

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                        [repostus hash=de6e5ba8fdd15abeda0f71dabb0ec0a8 title=Loan%20Delinquencies%20Fall%20to%20Lowest%20Points%20Since%20Recession host=Credit.com short=1hcHw] Read More »

                          Debt Settlement Advice for Debt Settlement Companies and Consumers – Part 5 – Why Simultaneous

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                          Back when I was in collections, I recognized a major vulnerability to the consumer. When the consumer was represented by a debt settlement company and settling their debts one at a time, with each settlement that was made, their negotiation power was diminished. Back then, when I would negotiate with a debt settlement company, the first thing I would do ... Read More »

                            Consumer Revolving Debt Explodes in May. What Does That Mean?

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                            Latest figures out show that consumer revolving credit grew in May at an annual rate of 11.25 percent. That’s a huge jump. One we have not seen in a while. But what does it really mean? Consumer credit overall grew at a rate of 8 percent. It’s far too early to tell if this is an early sign of consumer ... Read More »

                              Why Does the Hess Kennedy Receiver, Daniel Stermer, Get Paid So Much Money?

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                              A reader asked the following question, “The receiver in the Hess Kennedy case paid their attorneys over $68,000 and paid himself over $38,000. How come Daniel Stermer is still earning $38k per month?” They provided a link to this file. I took a look at the file and here is a summary of what I did find. Inventory On August ... Read More »

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