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Debt Relief Industry

Debt Relief Firms and Owners Settle Big With FTC Over Performance Issues and Forensic Audits

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The operators of an allegedly deceptive mortgage modification business will pay more than $750,000 in ill-gotten gains to settle Federal Trade Commission charges. The settlements also permanently ban the 11 defendants from selling any mortgage assistance relief products. The FTC’s case against the four operators of the Debt Advocacy Center and another group of seven defendants that allegedly provided “forensic ... Read More »

    CT Updates Their List of Debt Relief Companies in the Crosshairs

    The Connecticut Department of Banking has just updated they page with new recently actions against debt relief companies. This crop includes United Processing Center, 1st American Debt Solutions, Legal Settlement Solutions, and The Consumer Law Group. United Processing Center WHEREAS, on April 27, 2012, the Notice was sent by certified mail, return receipt requested, to United Processing’s agent (Certified Mail ... Read More »

      Tim Gibbons & National Employee Benefits Group – Again

      A tipster (send in your tips here) has just sent me an interesting document on a company, National Employee Benefits Group. I wrote about National Employee Benefits Group and it’s managers and/or owners before in Debt Relief Companies of Tim Gibbons and Jennifer Yoffe Not What They Seem. In the comments to that article, Tim Gibbons went ballistic and claimed ... Read More »

        Debt Settlement Advice for Debt Settlement Companies and Consumers – Part 2 – Debt Settlement Fees

        settlement fee chart

        Part 2. Debt Settlement Fees Unlike most industries, the fees charged in the debt settlement industry, have a direct effect on the services they’re selling. I’m sure you have heard the old adage, “you pay for what you get”. Personally, I’m a firm believer in that philosophy. I’m more of quality of over quantity guy, myself. However, it is the ... Read More »

          Illinois Class Action Filed Against Freedom Debt Relief, Freedom Financial Network, Debtmerica, Global Client Solutions and Others

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          A May, 2012 class action lawsuit filed by Theresa Driscoll and others has just been moved to Federal court. The case was filed against Freedom Debt Relief, Freedom Financial Network, Debtmerica, Global Client Solutions, Andrew Houser, and Bradford Stroh. The case claims the Defendants violated the Illinois Debt Settlement Consumer Protection Act {“IDSCPA”) and Illinois Consumer Fraud and Deceptive Business ... Read More »

            Crown Financial Ministries – Is This Really What Jesus Would Do?

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            It’s probably been a decade since I went back and took a look at the site for Crown Financial Ministries. Frankly I was shocked about what I saw just now. It’s clear Crown Financial Ministries has moved a long way away from the foundation laid by Larry Burkett (Christian Financial Concepts) and Howard Dayton (Crown Ministries). In the interest of ... Read More »

              Are Primerica Representatives Really Ready to Properly Sell Debt Management or Debt Settlement?

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              With the recent announcement that Primerica representatives are going to start promoting debt relief services it’s just got to open a whole new can of “what not to do” and pour it on consumers. Primercia representatives that sell investment and insurance have to take a whole series of exams to become licensed to sell those products. But what they don’t ... Read More »

                Debt Point International Makes Inconsistent Debt Relief Claims in U.S. and Canada

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                A tipster (send in your tips here) pointed out the website of Debt Point International and asked me to look at the claims they were making. Their site is for both U.S. residents and Canadians but the debt relief claims are dissimilar. It is a bit perplexing and it seems the claims being made to Canadians are things the Federal ... Read More »

                  You’re Getting Poorer. Why Debt is the Least of Your Concerns.

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                  New government data out from the Federal Reserve in their triannual survey of American families paints a bleak and dark picture of the state of finances of all of us. It’s no wonder why people are looking for less debt help these days. It seems they are financially down and out like they haven’t been in a couple of decades. ... Read More »

                    Primerica to Sell Debt Settlement for Freedom Financial Network. This is Going to Get Messy.

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                    Well it’s official. Primerica representatives are going to start promoting debt settlement for Freedom Financial network. The first public information on this was sent in by a reader. The Facebook announcement says: Imagine how it would feel to not worry about debt. Primerica is pleased to make Freedom Financial Network available to help you determine your best debt relief option ... Read More »

                      Debt Settlement Advice for Debt Settlement Companies and Consumers – Part 1 – On Time with Payments

                      Ready to Collapse

                      This is part 1 of a 7 part series covering debt settlement advice for both the debt settlement industry and consumers. Throughout this series, we will be taking an in depth view into the various aspects of debt settlement, their best practices, and their effects on consumers. Our first topic is about… Part 1. Enrolling into a Debt Settlement Program ... Read More »

                        If U.S. Court Bankruptcy Video Can Say Debt Settlement Is an Option, Why Can’t Credit Counseling?

                        US Court Bankruptcy Video

                        I was watching a video put out by the Federal Judiciary on the U.S. Courts site and was surprised when I saw they U.S. Courts listing debt settlement as an alternative to bankruptcy. The list also includes credit counseling, working with creditors (reduction in payments), and selling assets or debt consolidation loans to satisfy debts. What struck me is that ... Read More »

                          New Government Figures Show Unsecured Debt Dropping

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                          The latest Federal Reserve statistics are out for April, 2012 which show consumer credit increased at an annual rate of 3 percent in April. Revolving credit decreased at an annual rate of 4-3/4 percent, while nonrevolving credit increased at an annual rate of 7 percent. This is not good news for debt relief providers that typically only address unsecured debt ... Read More »

                            Everest Debt Solutions, FDN Solutions, and Tim Daniels Settle With FTC

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                            I’ve got to admit when I read the news of Everest Debt Solutions settling with the FTC over false and deceptive advertising claims I did say out loud, “I Told You So!” You see back in September of 2009 I answered a reader question “What Do You Think of Everest Debt Solutions? – Margo” and expressed my concerns over their ... Read More »

                              Scott Law Group Updates Debt Settlement Companies They’ve Filed Against

                              The Scott Law Group is very active in suing debt settlement companies in the State of Washington. Their litigation page now lists 59 debt settlement companies or related entities in active litigation. – Source They have recently added the following companies to their active litigation page. Debt Pay Gateway, Inc. Debt Pay, Inc. Fidelity Debt Solutions, LLC Global Debt Management, ... Read More »

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