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Debt Relief Industry

Debt Relief Information and Innovation – Helping Companies Help Their Customers

One of, if not the largest shortcoming that exists in the current system designed to provide people struggling with debt an alternative to bankruptcy is – Information. That we have come through the “information age” and fallen short of including more of it in professional debt relief products and servicing is a failing that can and should be fixed. A ... Read More »

    A American Debt Consolidation Hit by Louisiana for Missing Bond

    A cease-and-desist order has been issued for A American Debt Consolidation on Center Street in New Iberia for allegedly failing to provide the necessary $100,000 bond required for credit repair companies by state law. The order was issued on Jan. 24 by the Louisiana Department of Justice, Office of the Attorney General, Public Protection Division, Consumer Protection Section. The business ... Read More »

      Robby Birnbaum Provides Interesting Review of What Went Wrong With U.S. Debt Settlement Industry

      Robby Birnbaum, a lawyer with the law firm Greenspoon Marder and an executive with both TASC (The Association of Settlement Companies) and AFCC (American Fair Credit Council) recently participated in an enlightening interview with Richard Cooper from Total Debt Freedom in Canada. Putting the interview into context, with the lobbying and pushing back TASC engaged in against regulation for the ... Read More »

        Housing Counselor Sentenced to 72 Months in Jail for Stealing Money to Pay Her Mortgage

        Nonprofit housing counselors Lori Macakanja, 35, of Dunkirk, New York, was convicted of mail fraud and theft of government money, was sentenced to 72 months in prison and three years supervised release and ordered to pay $298,639 in restitution to victims. Assistant U.S. Attorney Trini Ross, who handled the case, stated that Macakanja, in her capacity as a housing counselor ... Read More »

          Persels & Associates Named in Georgia Class Action With Host of Major Players in Debt Relief

          On January 28, 2012 Carla Broyles, Charity Miaco and Melba Walker filed a class action lawsuit in Georgia against Persels & Associates, Ruther & Associates, Freedom Debt Relief, Consumer Law Associates, Amerix, Careone Services, Tiffany Rowe. The suit states it covers all Georgia resident debtors who have done business with Defendants since July 2003 to the present for violations of ... Read More »

            Canada Takes Swift Action Against Advanced Fee Debt Settlement Companies

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            Dear Alberta and Manitoba, Damn, that was fast. Steve I suppose it sure didn’t hurt have the entire FTC Telemarketing Sales Rule process done and dusted, but Canada is acting quickly to ban advanced fee debt settlement companies. New regulations in Manatobia are effective in 12 days will prohibit any advanced fees charged to consumers before settlement and will limit ... Read More »

              Who is Most Likely to Work With a Debt Settlement Company

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              InsideARM recently released information from an industry survey they conducted regarding what part of the debt collection industry is more likely to work in cooperation with debt settlement companies. They survey 649 creditors, collectors, debt buyers and legal recovery firms to ask about their perception or willingness to work with debt settlement companies. The survey indicated a growing willingness to ... Read More »

                Tipster Expresses Concerns About Litigation Compliance Law Center

                Litigation Compliance Law Center1

                A tipster (send in your tips here) has sent in the following information and expressed the following concerns. I thought I’d just put this out for people to comment on with their opinion of the concerns voiced. Chad Pratt & Stuart Simone attorneys for Real Estate Law center are also Litigation Compliance Law Center marketing to non attorneys to do ... Read More »

                  What Can We Do About Customers Who Cancel After Debts Are Settled?

                  Ready to Collapse

                  I currently work in a negotiations department for a mid sized debt settlement company. We have roughly 2,500 clients who are active. We have been on a massive push recently to get all of our clients settlements once they have made 3 payments. We have reached the point where more than 80% of our total client base is involved in ... Read More »

                    Attorney Model Debt Settlement Employee Speaks Out On How It Really Works

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                    My name is [redacted], and I worked for a debt settlement company in California known as [redacted] in 2010 and 2011. I was hired as a sales consultant, but was later moved into the negotiations department after most of our sales force was laid off as a resulting slowdown in our business due to the after effects of new government ... Read More »

                      How Can Credit Counseling Survive These Numbers?

                      Credit Counseling Demand

                      A reader asked me to take another look at trending in the credit counseling industry. Shocking sight. I’m afraid things are not looking up. If the trend of years past was still relevant we would expect to see a big post holiday season spike in consumer interest in credit counseling. But we didn’t see on last year and as of ... Read More »

                        Dave Burke, He’s Back Promoting Debt Relief After Being Slammed Shut by Colorado

                        Dave Burke's New Website

                        A tipster (send in your tips here) just sent me in a note that old Dave Burke, the guy behind the Real Talk Network that was sued out of existence by the State of Colorado, is back in business promoting his financial coaching. Want to read the saga behind Dave Burke, click here. To summarize, Dave Burke had this pitch ... Read More »

                          Ideas for Creating Better Debt Relief Products, Services and Delivery

                          Ready to Collapse

                          In a previous article published on the GOOD site, I asked the question: Is the debt relief delivery system broken? The article outlined the statistical failings of different options consumers seek in order to get relief from debt they can no longer afford. I also identified several reasons for the shortcomings and encouraged industry participants to share ideas for how ... Read More »

                            North Carolina Calls Consumer Law Group Bogus in Settlement Announcement

                            It appears an issue with North Carolina and Consumer Law Group finally came to an end. You can read past stories about Consumer Law Group here. What was most interesting about the Consumer Law Group action North Carolina took was the definition of what true attorney representation was in a debt settlement program. Not only did North Carolina not buy ... Read More »

                              Proof of Illegal Fee Splitting With Attorney Model Debt Settlement Company

                              Ready to Collapse

                              A tipster (send in your tips here) has sent in an email that came from one of the attorney model debt settlement companies still operating. The email makes mention of the company signing up new affiliates that were looking for a new home after leaving Bay View Law Group. The most interesting part of the email is the following statement ... Read More »

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