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Debt Relief Industry

Florida Not Happy With Horizon Financial and Mader Law Group

Ready to Collapse

A tipster (send in your tips here) sent this in. According to the Sun Sentinel out of Florida, the Florida AG is investigating a Florida debt relief company, Horizon Financial. According to state allegations the company was engaged in making solicitation calls that mislead and deceived consumers into thinking they were dealing with a U.S. Treasure Department foreclosure assistance program, ... Read More »

    Colorado Attorney General Goes After Loan Modification Solutions and Principal Financial Partners

    Ready to Collapse

    Colorado Attorney General John Suthers recently announced that his office has filed a lawsuit against Castle Rock-based Loan Modification Solutions; its owners, Robert Auhll (DOB: 9/21/1963) and Nanette Auhll (DOB: 3/7/1963); and the company’s salesperson, Thomas Stefanszky (DOB: 7/23/1962), on suspicion that they defrauded consumers in search of home loan modifications and foreclosure relief in Colorado and other states. According ... Read More »

      Federal Reserve Data Points Out Less Need for Debt Relief Providers

      Fed DSR Final

      In a couple of recent articles, here and here, I talked about the declining demand for debt relief services, al all types, when looking at search traffic data. Demand for debt relief services is created when lenders extend and consumers get overloaded and need to seek a remedy for the growing burden of debt. If lenders don’t extend credit there ... Read More »

        NFCC Hooks Up With United Way for Free Marketing

        Ready to Collapse

        The following press release was sent out announcing the new partnership between the National Foundation for Credit Counseling and United Way. What I can’t figure out is what United Way gets out of this relationship. National Foundation for Credit Counseling and United Way Worldwide Join Together to Help Financially Distressed Consumers Washington, D.C. (Vocus/PRWEB) April 04, 2011 The National Foundation ... Read More »

          Make $$$ and Big Bonuses Selling Faith Based Christian Loan Mod and Debt Settlement Services

          You absolutely can’t make this stuff up. Now keep in mind the ad I’m going to show you below comes from Reliance. “Reliance, Inc. is an established Christian based Lake Worth, Florida full service financial services company.” And according to the Sun Sentinel this week, “A Lake Worth financial services firm that made Inc. magazine’s 500 Fastest Growing Companies list ... Read More »

            Debt Settlement for Business Debts. One Step Ahead of Regulators Says Reorganization Management Group.

            Reorg Group

            Thanks to a tipster (send in your tips here) I received the following notice from the Reorganization Management Group. This is the second such organization that has been brought to my attention recently that claims to focus on business debts. The first was a business debt settlement company called Corporate Turnaround. More about them later. Here is a document the ... Read More »

              Debtmerica Takes Stance Against Attorney Model Debt Settlement Companies

              In a press release sent out today by Debtmerica they made some interesting statements regarding attorney model debt settlement companies. “At Debtmerica, our staff all participated in making sacrifices so we could continue to pursue our mission of helping Americans become debt free and remain so. To see that consumers are readily engaging in our new debt resolution programs and ... Read More »

                Investigator Looking Into Credit Counseling Agency Hits a $$$ Wall With U.S. Department of Justice

                FOIA Request

                A tipster (send in your tips here) that is apparently closely scrutinizing credit counseling agencies has forwarded to me a recently Freedom of Information Act request that the U.S. Department of Justice responded to. What I found interesting was the amount of money the DOJ wanted in order to respond to the FOIA request on approved credit counseling groups who ... Read More »

                  Debt Settlement Attorney Referral Services Draw the Unwanted Attention of the Florida Bar

                  Ready to Collapse

                  The Florida Bar has launched a new investigation into for-profit lawyer referral services. The committee studying this was informed that the Attorney General’s Economic Crimes Office is investigating several lawyer referral services, both those registered and not registered with the Bar. Some of the services do “cold call” or direct solicitation, which is prohibited in Bar rules. According to information ... Read More »

                    Someone is Gunning for Credit Counseling Groups Budget Right Debt Management and American Credit Counselors

                    Exclaim Marketing

                    A tipster (send in your tips here) forwarded to me two recent formal complaints to the IRS based regarding Budget Right Debt Management and American Credit Counselors. The issue seems to be regarding IRS 501(q) standards. Now normally this is not something I might publish but in this case it seems the ammunition came from the organizations very own public ... Read More »

                      Deceptive Credit Card Financial Relief Plan 2011 Mailers Still Going Out

                      Credit Card Financial Relief Plan Cover

                      I thought we were all done with this deceptive mailer efforts for debt settlement services. Apparently not. A tipster (send in your tips here) has just forwarded me a mailer they just got. As you can see from the cover it looks like an official document the consumer must open. Once you open it up it looks like an official ... Read More »

                        NoteWorld Involved in Georgia Class Action Case on Debt Adjusting. Raises Bigger Issues.

                        It seems the issues surrounding if payment processors in the debt settlement world is getting more complicated. This recent class action case is out of Georgia against NoteWorld and Noteworld Servicing Center; Hattie Burke v. NoteWorld. It appears that NoteWorld gets sucked in not because of their actions but because of the actions of who they decided to provide services ... Read More »

                          Cambridge Credit Counseling Calls for Better Transparency of Credit Counseling Performance

                          DMP Success Rates

                          Cambridge Credit Counseling finally went public today with its public challenge to the debt relief world to be transparent about the effectiveness of the solutions it provides. I know they’ve been working on this for a while now. This marks the very first time I can think of when a credit counseling agency has embraced disclosing it’s performance measurements. Historically ... Read More »

                            Debt Settlement and Credit Counseling Search Volume Still Down

                            debt settlement search

                            I took another look at the search volume of the terms “debt settlement” and “credit counseling” to see if there has been any uptick in search volume for these terms. According to data from the last 12 months the number of consumers searching for these terms is hovering at historically low levels. Debt settlement search traffic appears to be off ... Read More »

                              Hat Tip to Advantage CCCS for Some Funny Debt Monkey Commercials

                              Ready to Collapse

                              A tipster (send in your tips here) sent in links to the following commercials by Advantage CCCS. Really funny stuff. I can always use your help. If you have a tip or information you want to share, you can get it to me confidentially if you click here. Read More »

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