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Debt Relief Industry

Debt Relief Options for consumers – Is the delivery system broken?

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Most of the debt relief services industry works less than 30% of the time. It could use a tune up. Imagine if the car you are driving has a six cylinder engine, but four of them did not function. You would do something about it, right? Even if doing something meant replacing the car? Most would. Not the debt relief ... Read More »

    T Bank Former President to Face OCC Charges Over Processing Credit Repair Payments

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    OCC Will Hold Hearing on Charges against Patrick Adams; Agency Seeks Personal Cease & Desist Order and $100,000 Civil Money Penalty The Office of the Comptroller of the Currency (OCC) today announced a public hearing before an Administrative Law Judge beginning Monday, January 23, 2012, concerning an enforcement proceeding against Patrick Adams, former President and Chief Executive Officer of T ... Read More »

      Court Freezes Assets of Debt Relief Company Premier Savings

      Consolidate Credit Card Debt | Premier Savings (20120118)

      At the request of the Federal Trade Commission, a U.S. district court has frozen the assets of a telemarketing operation that allegedly charged consumers hundreds of dollars based on bogus promises to either provide them with low-interest credit or refund their money. The court also has ordered the illegal conduct to stop while the FTC moves forward with the case. ... Read More »

        Whitman v. Legal Helpers Debt Resolution, Global Client Solutions, Macey Bankruptcy Law

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        On January 13, 2012 Jeanne Whitman filed suit against Legal Helpers Debt Resolution, Global Client Solutions, Macey Bankruptcy Law in South Carolina. The suit allegers the Defendants violated the South Carolina Consumer Protection Code, the South Carolina Unfair Trade Practices Act, acted fraudulently by representing it would provide legal services, made false and negligent misrepresentations, and the defendants conspired. This ... Read More »

          Best Debt Solutions USA Has Me Stumped. Why Can’t I Verify What They Say?

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          I recently got an email pitch from Best Debt Solutions USA that wanted to recruit me as an affiliate. I get these sorts of things from time to time and never do anything with them. But this pitch and their site have left me scratching my head. According to Best Debt Solutions USA they are “a relatively new company, but ... Read More »

            Credit Counseling Compliance Tips to Start 2012

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            Jonathan Pompan of Venable has released a good set of five tips for credit counseling groups to consider to make sure they remain in compliance. This is a great article to be read in conjunction with My Debt Relief Industry Forecast for 2012. Pompan’s tips include: Include class action arbitration language in client contracts. Get ahead of the Consumer Financial ... Read More »

              Scathing Report From Allegro Law Debt Settlement Bankruptcy Drags In Others

              Allegro Law was an attorney model debt settlement company that charged advanced fees for services to consumers. The group previously fell and Keith Nelms, Esq. was subsequently disbarred and filed a Chapter 7 bankruptcy, taking client deposits with it. The Allegro Law debacle follows in line with the mess created previously by Hess Kennedy, another attorney model debt relief firm ... Read More »

                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; [email protected] 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 »

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