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Debt Relief Industry

The Fulfillment Center Claims 100% Success and 190,000 Clients But That Does Not Appear True

The Fulfillment Center just sent out the following email that makes some pretty incredible claims. From: Yaron Kimelman [] Sent: Wednesday, May 18, 2011 9:52 AM To: Yaron Kimelman Subject: Close More Business with FCRA Section 609 {Especially Debt Settlement Business) FCRA SECTION 609 Hello and good afternoon . Nice to be talking with you again. I want you to ... Read More »

    Debt Relief Companies Targeted by Scott Law Group in Washington

    Ready to Collapse

    In response to an article I posted yesterday here in which I mentioned Darrell Scott, Esq. said he was going after 16 settlement companies, a reader sent in the actual list of companies. The tipster (send in your tips here) said: “The Scott Law Group, P.S. is currently involved in debt settlement litigation involving the following companies:” Ascend One Corporation ... Read More »

      MP-50416E is the Newest Mass Joinder Mailer to Watch Out For


      A reader sent in a new version of the mass joinder mailer that is now going out. This is just another misleading marketing piece that looks just like the H-118, 52PLL-T, and 1012-R mailers I’ve written about before. This mailer makes the same unsubstantiated claims of debt forgiveness, interest rate reductions, balance reductions, and an award for monetary damages. Be ... Read More »

        Client Testimonial Turns Unfortunately Horney

        Randy Client

        Having lived in England and picking up some of the slang my brain now interprets words with the U.S. and UK slang. Maybe I’m just a bit punchy today but I had to laugh at the following client testimonial for what inadvertently looks like a pedophile on a debt relief company site. Let me preface the testimonial by letting you ... Read More »

          Former Ameridebt Credit Counseling CEO Headed to Jail

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          Andris Pukke, the former head of the nonprofit credit counseling group Ameridebt was sentenced to 18 months in jail yesterday. This marks his second trip back to jail for activities that began with his credit counseling operation in Germantown, Maryland. Pukke pled guilty in January to hiding funds from authorities after he was ordered to turn over all funds for ... Read More »

            Nationwide Financial Center Charges Big Bucks to Enroll in DMP


            A reader contacted me with a question, here. She said that a company called Nationwide Financial Center sold her into a debt management program for which she first had to pay $1,295 before she could get in to the credit counseling program. She sent me the agreement she signed to put the $1,295 on her HSBC credit card so she ... Read More »

              Awesome Webinar from National Policy Group on State Money Transmitter Law Compliance for Debt Relief Operations

              State Money Transmitter

              If you have not had the opportunity to attend the webinar put on by National Policy Group on State Money Transmitter Law Compliance, you should. The free webinar covers issues surrounding the money transmitter law that impact credit counseling groups. The question the webinar posed is if credit counseling agencies need to be licensed as a money transmitter in those ... Read More »

                United Debt Managers Gets Cease and Desist Order From Maine

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                According to public records, United Debt Managers of Miami, Florida is not authorized to offer services in Maine. The company received a cease and desist order on may 17th from the State of Maine. — WHEREAS United Debt Managers, LLC, a debt management services company located in Miami, Florida was notified by the Maine Bureau of Consumer Credit Protection (“the ... Read More »

                  The Wild Ride in Debt Relief – Andrew Housser


                  The following guest post was contributed by Andrew Houser. Andrew Housser is co-founder and co-CEO of Freedom Financial Network, LLC, the parent of Freedom Debt Relief, which has settled over $1 billion in debt for its customers in the past 8 years. He sits on the executive board of the American Fair Credit Council (formerly TASC), a position he has ... Read More »

                    Global Client Solutions Said to Be One of the Initiators of The Concept to Evade Debt Adjuster Statutes

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                    Recently the Washington State Supreme Court issued a killer ruling which labels Global Client Solutions as a debt adjuster that aids and abets debt settlement companies to evade the Washington Debt Adjuster statute and is civil and criminally liable. You can read the full details on that ruling in Washington Supreme Court Issues Important Unanimous Opinion Impacting Debt Settlement Companies ... Read More »

                      FTC to FCC: Sellers Responsible for Outside Telemarketers

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                      In a statement made by the FTC to the FCC, the point that end providers are responsible for what outside telemarketers and agents say was reinforced. This is a very important point to keep in mind if you are using a call room or an outside sales force and you are not monitoring what they are telling consumers. A sales ... Read More »

                        Debt Settlement Attorney Wants to Know if Debt Settlement Companies Suffer From a Fundamental Flaw

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                        I received the following communication from a Greg Fitzgerald, debt settlement attorney who raised some excellent questions regarding the fiduciary duty and responsibility of debt settlement companies and the issues surrounds the unauthorized practice of law. I think he has raised some good thought provoking questions and I’d love for readers to weigh in by posting feedback in the comments ... Read More »

                          Roni Deutch, the “Tax Lady” Closes Firm in Face of Jail Time

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                          Roni Deutch, the tax lawyers who we’ve seen advertising on television for years, has decided to surrender her law license and close her tax practice. She is claiming she is totally broke in the face of the charges filed against her for ripping off consumers with fees for services never delivered. A Sacramento Superior Court judge in April froze her ... Read More »

                            Consumerwiz of Connecticut and National Spending & Credit Counseling Center Lose Nonprofit IRS Status

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                            On April 4, 2011 the IRS revoked the nonprofit status of National Spending & Credit Counseling Center of Spring Valley, CA and Consumerwiz of Connecticut, Inc. of Groton, CT. This information was just published on their website. I can always use your help. If you have a tip or information you want to share, you can get it to me ... Read More »

                              Washington Supreme Court Issues Important Unanimous Opinion Impacting Debt Settlement Companies that Target Washington Consumers

                              Ready to Collapse

                              I received the following press release regarding the Global Client Solutions case I wrote about previously here. The Washington State Supreme Court issued Thursday an important opinion impacting “debt settlement” companies that ubiquitously promote their “debt settlement” services to heavily indebted Washington consumers through late night television advertising, unsolicited phone calls, Internet communications, and junk mail. In the matter of ... Read More »

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