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Debt Relief Industry

Florida Bar Issues Warning to Lawyers Getting into Mortgage Modification With Non-Lawyers

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A recent article by the Florida Bar seems to also be relevant to those attorneys that are selling mass joinder litigation to go after banks that issued mortgages. The mass joinder sales reps frequently say it is a solution to help avoid foreclosure. Here is an excerpt of what the Florida Bar has said: The Florida Bar’s Ethics Hotline has ... Read More »

    See Who is For and Against California SB 708 Debt Settlement Legislation

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    A tipster (send in your tips here) sent me in the link to the current California debt settlement bill that listed who was before and against it. What is interesting to note is that Visa is for it and Consumers Union. Gail Hillebrand who was behind these efforts at Consumers Union is now with the CFPB. In Support of the ... Read More »

      Credit Card Delinquencies Move Downward to Levels Not Seen Since 1996

      TU Delinquencies

      TraunsUnion has just released their latest report on credit card delinquencies. The lower the level of delinquencies, the lower the level for debt relief services since the vast majority of debt relief inquiries are stimulated by delinquent account holders. In a recent article, here, some in the debt relief community felt that the level of delinquencies was erroneous and not ... Read More »

        California Debt Settlement Legislation Tries to Close Attorney Loophole

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        Apparently the attorney loophole for debt settlement services is being address in new legislation. The current bill passing through the legislative process in California has had a recent addition that specifically targets advanced fee attorney model debt settlement services. Here is what the current version of the bill says regarding attorney exemptions: Section 12501 “(E) An attorney who provides debt ... Read More »

          Reader Asks About NetDebt. Let’s Play “Do They Comply.”

          netdebt cost

          A reader sent in an email and wanted me to see the following statement by a site called NetDebt at The issue they wanted to point out was the statement the site made. The site makes other statements the solution involves a law firm but I could not find any mention on the site who the law firm ... Read More »

            Is Legal Helpers Debt Resolution a Legit Company? – Russ

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            “Dear Steve, I have been in a client relationship with Legal Helpers Debt Resolution for under a year and have been paying them fees to settle my debt. I’ve noticed that there is a class action law suit being filed against this company. Is this a legit company? Russ” Dear Russ, I’m going to let commenters share their opinion on ... Read More »

              Is The Less Than Full Balance Approach By Credit Counseling Already Doomed to Fail

              A tipster (send in your tips here) point out to me a recent post by Harvey Warren who has been involved in marketing or promoting the Robert Manning program from the Responsible Debt Relief Institute and Hope Financial USA. In the posting here, Warren states: Now, here’s the most amazing part in Utah. AAA Fair Credit Foundation announced last year ... Read More »

                Can Any Debt Relief Company Afford to Do The Right Thing for Consumers?

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                In some other comment threads on the site the issue has arisen that debt relief companies are doing the right thing for consumers by asking about their situation and getting budget numbers before qualifying the consumer for their program. And over on this article, if you search through the long comments, I’ve engaged in comments with others if debt relief ... Read More »

                  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 [mailto:[email protected]] 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

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                    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 »

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