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Debt Relief Industry

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

    Ready to Collapse

    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?

                    DDPChart

                    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 »

                        Tax Defense Network – ConsumerTaxReports.org Warning to Companies

                        ConsumerTaxReports.org/Tax Defense Network are one in the same company. Below you will find a background history on Tax Defense Network and how we at JG Tax Group have successfully stopped these two entities from what we believe to be libeling our company. Tax Defense Network has set up a website called www.consumertaxreports.org. This website claims to deliver “Real Reviews”, “Honest ... Read More »

                          The Clusterf**k Continues – Amended Complaint Filed in Kevin Devoto Suit Against Lloyd Regner and The Debt Answer

                          This just in. Sources tell me a copy of the amended complaint was just served against parties named. I originally covered the first version of this suit filed in my post Bear Hunt Excuse Used in Update to Most Bizarre Debt Industry Lawsuit. Let’s see what the latest version alleges. The entities named are Kevin Devoto and Nisco Enterprises v. ... Read More »

                            FTC Bans Christopher Mallet and Eric Synstad for Life From Debt Relief Business

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                            One Operator Allegedly Impersonated Federal Agencies; Settlements Ban Both from the Debt Relief Business The Federal Trade Commission halted two operations that deceived consumers who were looking for help dealing with their debts, including one firm that tricked people by impersonating federal government agencies. The two firms agreed to settlements with the FTC that ban them from the business of ... Read More »

                              Lloyd Ward Files Response in Texas Bar Disciplinary Action

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                              In May, Dallas debt settlement attorney Lloyd Eugene Ward was sued by the State Bar of Texas Commission for Lawyer Discipline. You can read that article here. Ward’s response to the suit is breathtaking, wait for it, wait for it…. it’s all untrue. The response was filed by Christopher Weil of Weil & Petrocchi in Dallas and reads, “Respondent denies ... Read More »

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