Latest Posts
Home > Debt Relief Industry (page 42)

Debt Relief Industry

Which is Cheaper: Credit Counseling, Debt Settlement, or Bankruptcy?

Zemanta Related Posts Thumbnail

How can you determine what debt relief option is the right fit for a given set of cash flow limitations. The 3 options that people typically seek outside assistance with are Debt Management Plans (DMP), Debt Settlement Programs, and Bankruptcy. There are benefits and drawbacks to each option. Companies and people selling you a specific brand of debt help can ... Read More »

    Morgan Drexen Makes News Out of a Recent Investigation That Does Not Exist

    On December 9, 2011 I posted a press release from Morgan Drexen about an issue in Alabama, here. The press release stated: In recent weeks, prompted by a creditor the Alabama State Bar raised concern that Morgan Drexen’s services constituted the unauthorized practice of law. After an investigation on the matter the State Bar quickly closed the matter and stated ... Read More »

      Cambridge Credit Counseling Files Petition in U.S. Tax Court

      Ready to Collapse

      Recently I wrote about Take Charge America filing a petition in United States Tax Court, here. Cambridge Credit Counseling has now done the same thing. On November 30, 2011 their petition was filed. They are represented by Venable law firm in Washington, DC. Current information on this case can be found through this link. I can always use your help. ... Read More »

        United Financial Systems and Christopher Boulahanis Reach Settlement With Florida AG

        This is actually a picture of the UFS building that a reader sent in previously. The Florida Attorney General just made a big announcement concerning the non-profit credit counseling group United Financial Systems. This is a company that we first announced was likely to implode back in August of 2010. Unfortunately the economic impact caused by United Financial Systems will ... Read More »

          Bankruptcy Filing Rates Continue to Drop

          Ready to Collapse

          Credit Slips is reporting that U.S. bankruptcy filings have now dropped for the 13th consecutive month in November. The daily filing rate is down 12.5% from last November. Although the past seven months have seen double-digit year-over-year drops, these drops have consistently stayed between 10-17%. In other words, there is no increase in the rate of decrease. Extrapolating from this ... Read More »

            Robert Manning and Responsible Debt Relief Institute Named in Software Suit

            A tipster (send in your tips here) sent in a recent suit by the Cole Group, Inc and Robert Manning, Newtonian Finances, Debtorwise Foundation, and Responsible Debt Relief Institute. Frankly, the suit is a bit of a shocker. The Manning approach to helping credit counseling groups work out a satisfactory way to determine the most effective way to resolve debt ... Read More »

              California Lawyer Disbarred Over Loan Modification Business

              Another sad story of advanced fee loan modifications tearing down yet another group of people. From the California Bar Journal. PAUL JEFFREY LUCAS [#163076], 50, of Aliso Viejo was disbarred July 22, 2011, and he was ordered to make restitution and comply with rule 9.20 of the California Rules of Court. Lucas participated in the proceedings until the first day ... Read More »

                Is Clearpoint Credit Counseling Solutions Doing Debt Settlement?

                A reader wanted me to watch a past video, that I’ve embedded below. The reader wanted to know if Clearpoint Credit Counseling Solutions was involved in debt settlement. Clearpoint is an NFCC and AICCCA member agency (source) so the claim they had been involved in debt settlement sounded surprising to me. Typically non-profit credit counseling agencies are scared to touch ... Read More »

                  Less Than Full Balance Plans and the Problems They Create for Credit Counselors

                  Ready to Collapse

                  For many years debt relief plan providers, such as nonprofit credit counselors, and debt settlement service providers, have been seen as two separate and distinct structures in the debt relief services industry. These two sides of the industry have often been at odds with one another. While debt settlement providers have never come together as a unified voice to slam ... Read More »

                    Give Your Company a Great Gift This Holiday Season: Review Your Contract

                    Readers may forget that not only do I write about the debt relief industry, but I used to run a debt relief group at one time. I familiar with the tremendous issues that come with helping people deal with debt. Just yesterday I published this article and it was a great example of an issue that many debt relief companies ... Read More »

                      Global Client Solutions Moves Unusual Nelson Gamble & Associates FL Case to Federal Court

                      Screen Shot 2011-12-11 at 1.36.44 PM

                      On December 11, 2011, Global Client Solutions moved a case against them to Federal Court. The case is Ronda Andrews v. Nelson Gamble & Associates and Global Client Solutions. The case alleges that in August or September, Nelson Gamble and Associates contacted Andrews and offered their services in the form of a consumer debt consolidation program. Andrews reviewed the program ... Read More »

                        CFPB Appears to Embrace Debt Workout Arrangements

                        Ready to Collapse

                        The Consumer Financial Protection Bureau has recently released a copy of their new simpler proposed credit card agreements. One point that caught my eye was the use of the term “Workout Arrangement” in conjunction with defaulted debt. The use of this term, rather than specifying credit counseling or some other debt relief channel is very interesting. It mirrors the language ... Read More »

                          Consumer Debt Up in October But More Behind the Numbers

                          Ready to Collapse

                          The November Federal Reserve G19 report is out with the latest reported G19 figures. The report indicates a 0.6 percent increase in revolving consumer debt and a 5.3 percent increase in non-revolving consumer debt in October. If we look at the revolving consumer debt numbers, the increase was dues to increases in finance companies, and pools of securitized assets. Non-revolving ... Read More »

                            Meracord to be New Name for NoteWorld

                            Screen Shot 2011-12-09 at 9.50.19 AM

                            For some reason, it appears NoteWorld is changing their name to Meracord on January 9, 2012. You may wonder, what does Meracord mean? According to the document a tipster (send in your tips here) sent me, “It is associated with the words “merit” and “accord” and represents NoteWorld’s passion for integrity and honor. It embodies NoteWorld’s philosophy of providing services ... Read More »

                              According to the IRS it Appears Credit Counseling Should be Talking About Debt Settlement

                              A friend forwarded me a copy of the Core Analysis Tool (CAT) the IRS auditors use to review IRS 501(c)(3) non-profit credit counseling organizations. As part of that document the IRS states what to look for when evaluating credit counseling sessions. They say: “Information about what counselors do in sessions with clients can generally be found from a number of ... Read More »

                                Get My FREE Get Out of Debt Guy Newsletter

                                It is the smart thing to do.

                                I promise to keep your email safe and secure.

                                Close

                                I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

                                You can unsubscribe at any time with just one click.

                                After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


                                • It will keep you posted on the latest scams.
                                • You will be alerted to the latest articles.
                                • You will wind up smarter than everyone else dealing with debt.