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Debt Relief Industry

Legal Debt Pros, What Do You Know?

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A reader asked me what I knew about a new debt relief company called Legal Debt Pros. They said: “I really enjoy your site. Do you know anything good or bad about this new DS firm? . Apparently it was started by John Simon who used to own the failed Debt Rescue. Thanks” This one is new to me ... Read More »

    Steven Vanderhoof Defaults on Settlement for Credit Exchange

    A tipster (send in your tips here) has just alerted me that Steven Vanderhoof, of The Credit Exchange fame, was just recently sued for non-payment of a settlement agreed to in the Hess Kennedy bankruptcy. Vanderhoof’s lead generation company was sued by the receiver in the Hess Kennedy bankruptcy to claw back money paid for marketing services. Under the terms ... Read More »

      Ramba Law Group Named in Article the Warns Consumers About Mass Joinder Suits Against Mortgage Lenders


      For quite some time now I’ve been warning people about the wave of mass joinder suits that are being marketed to consumers. The pitch is simply, you’re bank screwed you and now we are going to make them pay. All you have to do is fork over $5,000 to participate, of which the marketers, who are not lawyers, get the ... Read More »

        It’s Time to Start Restoring Debt Settlement Into a Larger Debt Relief Industry

        Debt Settlement Hurtling Towards Regulation

        We’ve certainly been through a lot over the past few years. We’ve watched the debt settlement industry go absolutely crazy, opportunists invade, regulators need to step in, and now we’ve reached a low. But the good news is, it’s time to rebuild, but wisely. In my talks with state and federal regulators and the CFPB it is clear that debt ... Read More »

          This Will Scare The Hell Out of You if You Sell Debt Relief Services

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          During the Debt Relief Master Class I held in Raleigh, NC in July 2011 we had the pleasure to meet with Michael Dye, Esq. who pursues legal action against debt relief companies. Now your initial reaction after watching the video will be intense. You will want to vilify Mr. Dye for the statements he makes and actions he takes against ... Read More »

            Clear Blue Debt Solutions and Synergy Debt Group Look Like a Scam. They Are Not Making Friends in Canada.

            I received information from a tipster (send in your tips here) in Canada that wanted to share new information about these companies. The tipster (send in your tips here) said: “I was amazed at how frequently I was lied to when I spoke with employees from these companies. I can’t remember anyone lying to me that much in one conversation ... Read More »

              Do You Want a Free Google+ Invite? I’ll Send One to You.


              Google+ is a brand new tool that allows people to connect and share, much like Facebook. Right now it’s hard for me to connect with all of my friends through my website during this transition to bring Google+ online so I’m offering a free invitation to join me online. If you are already on Google+ and would like to ... Read More »

                Fresh Start and Crew Named Hard in GA Class Action Suit

                Update A class action suit has just been moved to federal court in Georgia. The suit is Davenport v. Fresh Start Advisors, Fresh Start Advisors of Boca Raton East, Fresh Start Advisors of Boca Raton West, Fresh Start Advisors of Lauderhill, Fresh Start Solutions, Settlement Management, WPB Partners, Flow Capital Ventures, Debt Settlement Solutions, National Settlement Solutions, Discount Debt, jason ... Read More »

                  Target List of Debt Settlement Companies in Washington

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                  Yesterday I published a story about The Scott Law Group in Washington that had just obtained a $1.5 million judgment personally against the owners of a now defunct debt settlement company, Debt Relief USA. Here is the current list of companies they are currently involved in debt settlement litigation against. Alliance8, Inc Amerix Corporation Ascend One Corporation CareOne Services, Inc ... Read More »

                    Morgan Drexen Skewered by The Center for Public Integrity

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                    Shirley Gao from The Center for Public Integrity just posted a look at the activities of Morgan Drexen in the case of retired schoolteacher Mary Linville from West Virginia. Linville had engaged Morgan Drexen to provide her with debt settlement services and wound up sued by one of her creditors. The West Virigina Attorney General later filed suit against Morgan ... Read More »

                      Debt Relief USA Owners to Personally Pay Millions in Court Award

                      I don’t think the former corporate directors of Debt Relief USA will soon forget July 15, 2011. On that day a State of Washington court awarded a class action award of $1.5 million against the directors of a now defunct and bankrupt debt settlement company. James Wojcik, Kelly Reilly, and Alvin Bell will have to personally pony up this big ... Read More »

                        Default Rates Continue to Fall at Credit Card Issuers

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                        Reports just out from five of the six top credit card issuers showed that default rates on accounts fell in June. Of the banks reporting, Bank of America showed the biggest reduction in default rates with Chase Bank, Discover reporting very noticeable declines. Just recently Discover said their default rate was at the lowest ever in their history. According to ... Read More »

                          Morgan Drexen and Walter Ledda, Sued in Ohio

                          A tipster (send in your tips here) just brought this suit to my attention.Sharonetta Jones v. Morgan Drexen and Walter Ledda (2:11-cv-00542-GLF-TPK). It reminds of another similar lawsuit in Virginia. The case in Ohio alleges Morgan Drexen and Walter Ledda violated the Debt Adjustment Companies Act, the Credit Services Organization Act, Credit Repair Organizations Act, and Ohio Consumer Sales Practices ... Read More »

                            Is Clear Blue Debt Solutions and Synergy Debt Group in Canada Really Run by Tim McCallan and Americorp?


                            A tipster (send in your tips here) sent me in some information that showed members of AmeriCorp and Intermark Media. You can click on the images below for a bigger view. Pictured (l-r), Back row: Americorp, Ed D’Rozario, Intermark, Joe Hogya, Intermark, Wil Schmidt, Americorp, Ryan Gallagher. Second row; Intermark, Joanna Thalassinos, Intermark, Stefanie Favicchio, Americorp, Maria Napolitano, Americorp, Kathryn ... Read More »

                              CFPB Still Moving Ahead. Enforcement and Supervision Imminent.

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                              Yesterday was the last Congressional hearing I’m aware of prior to the July 21, official launch date for the Consumer Financial Protection Bureau (CFPB). There was tension that House Republicans would roll back the scope and authority of the new CFPB even before it actually began but from reports of the hearing, the gutting of the agency did not occur. ... Read More »

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