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Debt Relief Industry

Utah Not Happy With Morgan Drexen Press Release About Licensing

Morgan Drexen Utah Citation

On October 26, 2011 Morgan Drexen sent out a press release titled “Success for Morgan Drexen as Utah Confirms Compliance.” Following the release I made an inquiry with the State of Utah at the request of a reader who had a question about the information in the release. Let me sum up the State of Utah response as not good ... Read More »

    Who Really is Consult America?

    Pure Cleaners

    It’s funny how just a simple email from a reader or tipster (send in your tips here) can start a chain of events or an inquiry that goes in the oddest of places. Recently I got a tip that said LHDRHelp.com and Consult America (consultamerica.org) were related and were operated under the names of two debt relief executives we’d recognize ... Read More »

      Federal Reserve Announces Revolving Consumer Debt Fell in September

      Revolving Consumer Credit

      According to the Federal Reserve, consumer credit increased at an annual rate of 1-1/2 percent in the third quarter. But revolving credit decreased at an annual rate of 3-1/4 percent, while non-revolving credit increased 3-3/4 percent. In September, consumer credit increased at an annual rate of 3-1/2 percent. The increase of non-revolving consumer debt is linked to auto and student ... Read More »

        Debt Relief Demand Continues to Drop. Bankruptcy Filings Slow.

        Quarterly Bankruptcy Figures

        The latest bankruptcy filing numbers are out. Unfortunately they do not spell opportunity for current debt relief providers of any tax status. The decline in demand by consumers for intervention services has dropped across the board. For me it’s just further evidence the pipeline for debt relief help is draining and without a new influx of credit issued to consumers ... Read More »

          Consumer Financial Protection Bureau May Issue Early Warning of Investigation Activity

          Early Warning 1

          The CFPB today announced a new policy that may give people under investigation by the CFPB a chance to respond early in an investigation. The Consumer Financial Protection Bureau (CFPB) today outlined plans to provide advance notice of potential enforcement actions to individuals and firms under investigation. The Early Warning Notice process allows the subject of an investigation to respond ... Read More »

            Credit Counseling Industry Accused in Potential Historic Turning Point Lawsuit

            A lawsuit I’ve been following since it became publicly available back in the middle of October has become a major milestone in what could spell the death of credit counseling as we know it I first learned of this case about six months ago when it was developing but I’d not written anything about it at that time. In fact ... Read More »

              A New Horizon Credit Counseling Agency. Busting 501(q)?

              A New Horizon response to Steve Rhode_page1

              An industry insider sent me an email that A New Horizon Credit Counseling Services is sending out. The tipster (send in your tips here) was curious how A New Horizon could so boldly offer compensation for credit counseling referrals when IRS code and some state regulations prevent that. IRS SEC. 1220. ADDITIONAL STANDARDS FOR CREDIT COUNSELING ORGANIZATIONS. (q) SPECIAL RULES ... Read More »

                Credit Counselors Clueless. I Have a Dream of a Better Debt Relief Industry

                Ready to Collapse

                Recently I had a chance to listen to a conference call of non-profit credit counseling agencies. It was a highly enlightening hour of my life and confirmed what I was hoping was not true. I’m sad to tell you today, after listening to the call, the majority of the non-profit credit counseling agencies don’t have a clue what their own ... Read More »

                  Amerix Files Suit Against CESI Debt Solutions

                  A tipster (send in your tips here) brought to my attention a suit that was recently filed by the back office processor against the non-profit credit counseling agency, Consumer Education Services, Inc, aka CESI Debt Solutions. According to the suit, the issue at hand is one of a contract dispute between the back office service provider, Amerix, and the non-profit ... Read More »

                    Bay View Law Group Sends Consumers Back to Servicers.

                    Ready to Collapse

                    A tipster (send in your tips here) sent in the following email they received: From: Mahroze Baloch Sent: Friday, October 28, 2011 Subject: Letter to Servicers Dear Servicers, As we are all aware, the regulations passed on October 27, 2010 have impacted business growth and development. It is with these federal regulations that has made continuing business impracticable. As such, ... Read More »

                      Debt Relief Legally Still in a Dispute With JAR Marketing and Legal Network of America

                      Screen Shot 2011-11-01 at 11.31.09 AM

                      Previously I had published an open letter from Aubrey Jenkins at Debt Relief Legally, who had previously done business as Newport Liberty Group, Inc. Aubrey has contacted me and issued the following statement. Due to the letter received from counsel for JAR posted herewith and threatening legal action, we are removing our prior postings. I will continue my struggle to ... Read More »

                        How Much Christian Debt Relief is Too Much Christian Debt Relief?

                        A reader and tipster (send in your tips here) directed my attention to a press release sent out last Friday by Nationwide Debt Reduction. – Source The press release directs readers to the website for nationwidedr.com. That’s where I found the marketing and information I’m going to talk about below. Once you land on the home page of Nationwide Debt ... Read More »

                          All About New Era Debt Solutions

                          credit card debt consolidation california

                          Company Name New Era Debt Solutions Owners/Managers Dan Smith – President Alex Viecco – Vice-President Physical Street Address 295 Willis Ave. Camarillo, CA 93010 Contact Information 888-639-4050 info@NewEraDebtSolutions.com Website www.NewEraDebtSolutions.com Description of Services Provided New Era Debt Solutions is a Full-Service Debt Settlement Company. By Full-Service we mean that all client services are performed under one roof in the same ... Read More »

                            Canadian Debt Settlement – Join the Next Big Wave of Residual Income

                            Canadian Debt Settlement

                            You can click on the image below to make it bigger. It was forwarded to me as an email that only contained the image. Anyone know who is behind this and what the sales pitch is? I can always use your help. If you have a tip or information you want to share, you can get it to me confidentially ... Read More »

                              More Information About Marketing for Mass Joinder / Mass Tort Cases Under the Name of Lloyd Ward and Lloyd Ward & Associates

                              LloydWard.com Home Page

                              Yesterday I published an article about how Lloyd Ward and Lloyd Ward & Associates sued this site. Part of the claim was an unhappiness about an article I had published here. Here is what it says from the lawsuit. In June of 2011, Defendant Steve Rhode/GETOUTOFDEBT.ORG, published an article entitled “Lloyd Ward and Associates – UFAN – New Player in ... Read More »

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