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Debt Relief Industry

Summary of 2011 Consumer Complaints and Scam Reports

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The GetOutOfDebt.org site hosts the Debt Relief Consumer Complaint Scam Database where consumers can file reports against companies they feel took advantage of them. In 2011 there were 189 consumer complaints filed. Here is a breakdown on those reports. Complaints by Consumers Were received from: Alaska: 4 Alabama: 2 Arizona: 3 California: 25 Colorado: 2 Connecticut: 1 Florida: 10 Georgia: ... Read More »

    Nationwide Asset Services – Let’s Play “Do They Comply”

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    For those professional readers of the site in the debt relief industry, “Do They Comply” is an old game we’ve played in the past. In this case a debt relief reader wanted me to post information about Nationwide Asset Services to get feedback and opinions from others if this debt relief company was playing by the rules. I was directed ... Read More »

      Debt Dispute: Phoenix Marketing Managers Claim to Offer Next Big Debt Relief Product – Debt Defense Services

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      A tipster (send in your tips here) forwarded me an email from a company called Phoenix Marketing Managers that claims to have a superior product for the debt relief industry and is seeking affiliates. Only one problem, it seems like it is way too expensive and will draw the attention of regulators with some of the unsupported claims made. From ... Read More »

        True ownership of CESI. – Thomas

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        I am a bankruptcy attorney who frequently has clients who have been paying credit counseling companies obscene amounts without receiving any relief. Further, it seems these companies pick-and-choose the creditors to which they will remit payment. What, if any, financial affiliations do these companies have with the creditors? For example, does CESI have a financial incentive to pay one creditor ... Read More »

          USOBA Curtails Most Operations

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          The announcement below was issued by USOBA this morning. It marks a change in the landscape of debt settlement company tree representation. While the United States Organization of Bankruptcy Alternatives will still exist, it will be in a much smaller form than at its peak. I am writing to let you know that USOBA’s role in the industry will be ... Read More »

            Consumers on the Brink of Loading Up on Credit. Good News for Debt Relief Companies.

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            Granted, it might just a bit too early to say with some super confidence but it appears that consumers may be through shedding outstanding consumer debt. For debt relief companies looking for a bit of good news and potential growth in the next 12-24 months, we’ll need to watch this trend carefully. For debt relief services this is the first ... Read More »

              How to Reach People for Free That Need Debt Help and Advice

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              I’ve just recently added a new section to the site that is comprised of consumer questions that are looking for answers and help. Maybe they will be interested in working with you once they see how smart and helpful you can be. If you are a debt relief company this is a perfect opportunity for you to comment on the ... Read More »

                All About McCarthy Law, PLC

                Phoenix Debt Settlement Attorney Arizona | Debt Settlement Phoenix | AZ Credit Card Lawyer | Consumer Debt Negotiation AZ (20120109)

                Company Name McCarthy Law, PLC Owners/Managers Kevin Fallon McCarthy, Esq. Physical Street Address 5450 East High Street, Suite 300 Phoenix, AZ 85054 Contact Information Office (602) 456-8900; Info@mccarthylawyer.com Additional Addresses: 8880 Rio San Diego, Suite 800 San Diego, CA 92108 Office: (619) 478-6200 1600 Rosecrans Avenue Building 7 4th Floor (Suite 36) Manhattan Beach, CA, 90266 Office: (310) 564.0999 10100 ... Read More »

                  Prestige Financial Solutions and Amy Thompson Sued by Colorado Attorney General

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                  In what may simply be an ironic twist, Eric Thompson of Orion Processing from Westminster, Colorado was just countersued by the Colorado Attorney General on the same day Amy Thompson of Westminster based Prestige Financial Solutions was sued by the Colorado Attorney General. If they are related, it’s a bad day in the Thompson house. Both Orion Processing and Prestige ... Read More »

                    Orion Financial Group Sued by Colorado Attorney General

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                    Colorado Attorney General John Suthers announced today that his office has filed a counterclaim lawsuit against Orion Financial Group, a Westminster based firm, and its owner, Eric Thompson, on the grounds that they provided debt-management services to Colorado consumers without meeting the registration and reporting requirements of Colorado consumer protection laws. According to the complaint, the state investigated Orion Financial ... Read More »

                      World Law Debt, World Law Group, Orion Processing and Global Client Solutions Sued in Kansas

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                      A Kansas case by Joy Locke-Odell v. Orion Processing d/b/a World Law Debt, d/b/a World Law Group, and Global Client Solutions was just moved to Federal Court. In this case it the Plaintiff position is that each entity involved in this debt relief transaction is a credit services or debt management services organization and subject to Kansas Consumer Protection Act ... Read More »

                        My Debt Relief Industry Forecast for 2012

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                        At the start of a new year I always like to look forward and contemplate what the debt relief industry is going to look like in the next twelve months. I believe 2012 will be another year of stark closures of debt settlement companies and aggressive merging of credit counseling groups. I don’t see any evidence pointing to a substantial ... Read More »

                          CreditArbitrators and CreditAnswers Targeted by New Mexico for Alleged Illegal Activities

                          Credit Answers and Credit Arbitrators have been on the radar here on the site for a long time. First it was with commercials they were running and later it was with an approach they were taking by mailing a catalog of services in what appeared to be an attempt to circumvent the Federal Trade Commission Telemarketing Sales Rules (TSR) designed ... Read More »

                            Macey Bankruptcy Law, Legal Helpers and Legal Helpers Debt Resolution Leads to Uncertainty

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                            Not that long ago a consumer submitted a consumer complaint about Legal Helpers that lead to Macey Bankruptcy Law. You can read the complaint here. What struck me at the time was the aggressive comment that followed. The commuter said: This person’s complaint seems to be about Legal Helpers Debt Resolution, LLC. That is NOT Macey Bankruptcy Law, PC. Macey ... Read More »

                              Consumer Bankruptcy Filings Trend Downwards but Expect Early 2012 Spike

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                              Data out regarding recent bankruptcy filings is showing a continued downward trend as more consumers have dealt with their problem debt and the pipeline of new credit extensions remains unfilled. The percentage of cases under a Chapter 13 bankruptcy have increased to about 30% of all consumer bankruptcy filings. This is the result of a decrease in Chapter 7 bankruptcy ... Read More »

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