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Debt Relief Industry

Consumer Mediation Services Opens to Help Scammed Consumers

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A new type of company has just opened to help consumers that may have been scammed by a debt relief company, and is looking for money back, but getting nowhere. We all know how frustrating that is. If you are the consumer and you didn’t get the services that were sold to you, the matter could be put to rest ... Read More »

    Colorado Attorney General Goes Hard After Thomas Roland for Unlicensed Debt Relief

    Ready to Collapse

    Looks like Thomas Roland and his company ESS are now into Colorado for almost $1.2 million in fines and penalties. In a press release, Colorado Attorney General John Suthers recently announced that his office has obtained a judgment for more than $594,000 against Thomas Roland for his role in an Orlando, Fla.-based unregistered debt management company that defrauded Colorado consumers. ... Read More »

      Credit Card Balances Continue to Drop in August

      Ready to Collapse

      Federal Reserve data just out shows consumer revolving and non-revolving debt continues to drop. August showed a 3.4 percent drop in revolving debt. More disconcerting was the reduction in the pools of securitized assets where issued credit cards are packaged and sold. August’s 40.3 billion is anemic and is not a good indicator that banks can initiate and move larger ... Read More »

        Legal Helpers Debt Resolution Sued in WA for Violating Debt Settlement Act

        LHDR Suit

        Yesterday a suit was filed in Washington State by Meghan Fitzgerald against Legal Helpers Debt Resolution, LLC, for violations of the Washington Debt Settlement Act, RCW 18.28, et seq. and the Washington Consumer Protection Act, RCW 19.86, et seq. The lawsuit states: In approximately August of 2010, Ms. Fitzgerald received a solicitation from LHDR offering to assist Ms. Fitzgerald with ... Read More »

          Wanna Know a Secret About the Debt Relief Industry?

          Ready to Collapse

          As modern and clever as we might feel here on the bleeding edge of history there is one cold hard fact I can’t ignore, these are still the dark ages of the debt relief industry. Let’s just take a broad look at the current state of affairs: Nonprofit Credit Counselors: The credit counseling world is as tied to creditors and ... Read More »

            Bankcard Issuance High But Still Not Good Sign for Debt Relief Industry

            PRMIA Survey

            Just like the economy, credit card issuers are sending mixed signals about consumer debt. I wanted to share my opinions and read the tea leaves this month. Equifax is reporting credit cards are being issued at a faster rate this year. “More than 18 million new bankcards have been originated between January-June 2011. While this total represents a 3-year high ... Read More »

              May Be Time to Reclassify Independent Contractors in Debt Relief Companies

              Ready to Collapse

              The Internal Revenue Service has launched a new program to allow employers to get their workers classified correctly. The Voluntary Worker Classification Settlement Program is designed to allow employers to make the switch from contractor to employee without facing stiff penalties if caught with incorrectly classified workers. It’s sort of an amnesty program. Under the program, eligible employers can obtain ... Read More »

                Lloyd Ward Group NAILED by Connecticut Over One Refund

                If you look at the recent action taken by Connecticut you’d realize how important it is to make sure your debt relief company is fully compliant with every state. In fact I even give you a free tool to check that out. Too bad Lloyd Ward Group, the Dallas based attorney model debt settlement firm, hadn’t used it. I’ve written ... Read More »

                  All About Consumer Credit & Budget Counseling, Inc.

                  cc-bc Google Street View

                  Company Name Consumer Credit & Budget Counseling, Inc. Owners/Managers Russell Graves – Executive Director Ralph R. Dyer – President Judith R. Sorensen – Vice President George E. Roe, Jr. – Chief Operating Officer Physical Street Address 299 South Shore Road – US Route 9 Marmora , NJ 08223 Contact Information ph: 888-738-8233 email: admin@ccbcinfo.org Website www.cc-bc.com Description of Services Provided ... Read More »

                    Introducing The Amazing How to Get Out of Debt Calculator

                    Mainframe

                    Every single day I help people for free to find good solutions for problem debt. Not long ago I was talking with some friends and it occurred to me there was no one single tool people could use to better understand all of their options to tackle their debt. Why not? So in collaboration with the smart technology people at ... Read More »

                      Maryland Debt Settlement Services Provider – Advisory Notice

                      Ready to Collapse

                      I’d like to thank a very gracious tipster (send in your tips here) for sending me notice of this announcement from the State of Maryland. For all industry and consumers that are interested in free access to the site debt relief compliance module to check current regulations, click here. MARYLAND DEBT SETTLEMENT SERVICES PROVIDERS September 22, 2011 Required Registration due ... Read More »

                        NFCC Challenges Debt Relief Industry to Think Bold. My Thoughts.

                        Ready to Collapse

                        It appears Michael Bovee took the NFCC challenge to think bold about consumer services to heart and submitted this guest post. Steve published his reaction to the state of the industry speech made by Keating at the recent NFCC conference here. There is a great deal contained in the address by Keating to comment on. The less than full balance ... Read More »

                          How Can Credit Counseling Miss the Boat on Offering Settlement When It’s Education

                          miss the boat

                          I’ve been perplexed for some time now why credit counseling isn’t getting into debt settlement. They spent a couple of years vilifying it to “protect consumers” but let’s be honest, that was really for their own competitive advantage and to protect marketshare. For nonprofit credit counselors, debt settlement as a solution is the holy grail and the third rail at ... Read More »

                            Debt Restructuring Hitting the Skids and Headed Towards Dumpster of Failure

                            A recent email forwarded to me from a reader reminded me about the debt restructuring approach I wrote about a while back. Apparently it was going to be the saving program for all the old mortgage selling, loan mod pushing marketers to sell after advanced fee debt settlement hit the TSR wall. Feel free to catch up on this ‘manna ... Read More »

                              Tim McCallan and His Intermark Communications Sued by Bank of America

                              Not a great month for Tim McCallan of AmeriCorp fame. It looks like his case the bankruptcy trustee filed back in February 2011, trying to claw back money from McCallan’s involvement with AmeriCorp and Allegro Law is still ongoing. The latest event, a notice of appeal by McCallan and AmeriCorp. That suit is about allegations of fraudulent transfers, preference and ... Read More »

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