Today I received and email from a reader and tipster (send in your tips here) who wanted more information about Florida Debt Resolve. It seems the reader had noticed a press release sent out today by Florida Debt Resolve regarding their iPhone app. In an effort to serve their clients more effectively and efficiently, Florida Debt Resolve has launched a ... Read More »
Poor old United Financial System out of Florida. Looks like they promised to make client refunds in Wisconsin, did not meet the deadlines and Wisconsin closed them down. – Source Fidelity Debt Solutions out of San Diego got shut down in Wisconsin as well for operating without a debt adjustment license. It appears Fidelity Debt Solutions was given notice of ... Read More »
Is The Creditor Treated Fairly When People Can’t Pay Their Bills? Are Consumers Stupid When It Comes to Their Debt?
The following material was sent to me to share with you by Kevin. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? I was a debt collector for a dozen years-and have worked in the debt settlement industry for the past 4-5 years. I come from a completely different perspective about “debt” than most people. First-I used ... Read More »
Another reinforcement to the unfortunate trend of negative signs that are impacting the demand for debt relief services has emerged. According to Collections & Credit Risk, bad debt buyers are finding it harder to purchase debt as the supply of bad debt shrinks. A more limited supply is driving up costs for debt buyers just as shrinking levels on consumer ... Read More »
NuHavens Refuses to Give Refund 80 Year Old for Debt Relief Services Never Delivered. Winds Up on TV,
A tipster (send in your tips here) sent in a link to a story by WTKR about a debt relief company called NuHavens who labels themselves as consumer advocates. It sure does not appear to be much advocacy going on here. According to WTKR, 80 year old Brigitte Musial paid NuHavens to negotiate her debt. Things did not work out ... Read More »
Details on Mogran Drexen Lawsuit by West Virginia AG. Allegedly Unlicensed, Unfair, and Unrefunding.
I’ve received copies of the complaint and atachments of the lawsuit filed on Friday, May 20,2011, by the West Virginia Attorney General against Morgan Drexen Vincent Howard, Damian Nassiri, Lawrence Williamson, Rachelle McIntyre-Nicholson, Walter Ledda personally and as CEO of Morgan Drexen. What follows will be details from the suit filed. Morgan Drexen Complaint Morgan Drexen is not authorized to ... Read More »
Morgan Drexen Claimed to be Unfair and Deceptive in Suit by West Virginia AG. Includes Local Attorney.
This comes from the WV AG press release but I’ve requested a copy of the complaint from the State. What’s interesting about this announcement is that the AG office also went after the local attorneys in West Virginia as well. Attorney General Darrell McGraw Sues Kansas, California, and West Virginia Lawyers to Halt Morgen Drexen Debt Collection Business CHARLESTON – ... Read More »
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 »
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 »
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 »
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 »
A reader sent in an email and wanted me to see the following statement by a site called NetDebt at NetDebt.com. The issue they wanted to point out was the statement the site made. The NetDebt.com 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 »
“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 »
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 »
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 »