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Debt Relief Industry

Reader Wants to Know Why Christian Credit Counseling Center is Pushing Chase Bank Call to Action Program

Christian Credit Counseling

A tipster (send in your tips here) sent in a comment that caught my attention: I found this interesting. it strikes a nerve to me as a bit abusive of CTA programs. Check out this company’s facebook blog. They actually solicit Chase account holders with the Call to Action carrot before even knowing who they are or if they qualify. ... Read More »

    Lawyer Accuses Legal Helpers Debt Resolution of Fee Splitting with Non-Attorneys and Committing Fraud

    LHDR Grievance 1

    For some reason I am suddenly getting flooded with information regarding Legal Helpers Debt Resolution. Here is what just arrived. A tipster (send in your tips here) forwarded me a copy of a recent filing by Geraci Law in Chicago, Illinois that has filed a grievance with the office of lawyer regulation in Wisconsin. The grievance is against William K. ... Read More »

      “Gullible Americans” Targeted by Canadian Call Center for Debt Settlement Services

      Not too long ago I wrote about two companies, EMA Nationwide and New Life Financial Solutions. It appeared that the call center for these companies was actually located in Montreal, Canada. New Life Solutions was recruiting new sales representatives to sell consumers a service that would charge them thousands of dollars to evaluate their financial situation and then refer them ... Read More »

        Vortex Debt Group Gets Consent Judgment From Missouri And Told to Stay Out of the State

        Ready to Collapse

        This was just released by the State of Missouri and sent to me by a tipster (send in your tips here). Jefferson City, Mo. – Attorney General Chris Koster announced today that the Florida-based debt settlement firm Vortex Debt Group, Inc., will refund fees paid by Missouri consumers and cease operating in Missouri. The Attorney General’s Office alleged Vortex Debt ... Read More »

          Legal Helpers Debt Resolution Contract Review. Is This Really The Best Deal Possible?

          A tipster (send in your tips here) sent in a copy of what appears to be an agreement between a consumer and Legal Helpers Debt Resolutions Services. – Source What follows are just my observations of some of the pages of this agreement. You may view the entire agreement here. Click on image for larger view. The budget looks especially ... Read More »

            Tim McCallan’s Intermark Communications Slammed by FTC

            Ready to Collapse

            In my previous article Tim McCallan And His Nine Lives in the Debt Relief World I covered the role of Tim McCallan in Intermark Communications, which later changed their name to IMM Interactive, but still located at 135 Crossways Park Drive, Woodbury, New York 11797. The FTC took aim at a different product, other than debt relief but it moved ... Read More »

              FTC Goes After Credit Repair and Debt Relief Provider and Files Civil Contempt Charges

              Ready to Collapse

              The Federal Trade Commission has filed contempt charges against a promoter of credit repair and debt relief services and three of his companies, alleging that they continued their deceptive marketing practices in violation of a federal court order. The FTC charged that the defendants tried to take advantage of financially strapped consumers by falsely telling them that almost anyone can ... Read More »

                TASC Back At It Again. Fighting Back Against Delaware HB 72 With Fiction.

                TASC CCA DS Fees

                A tipster (send in your tips here) forwarded me a copy of the April 6, 2011 correspondence by The Association of Settlement Companies (TASC) on the proposed amendment of the Delaware code relating to debt management services. The Delaware Debt Management Services Act (source) was modeled after the uniform act developed by the National Council of Commissioners on Uniform Laws ... Read More »

                  Some Credit Counseling Groups Not Optimistic About Future. Looking to Merge.

                  Ready to Collapse

                  So much of the past year or so has been directed towards the debt settlement world. The credit counseling world has just be slowly ticking away and watching their funding shrink from creditors. Funding may be shrinking even more now that the U.S. government is looking for places to cut back. Significant cuts in funding for HUD housing counseling are ... Read More »

                    Former TASC Executive Director Says Legal Helpers Debt Resolution is Awesome and Will Stay the Course

                    Despite the growing number of lawsuits against Legal Helpers Debt Resolution they stand by their services. In a press release sent out recently they appear to believe the wave of recent lawsuits naming then is an unfair witch hunt, is political and profit-driven and damn the suits, it’s business as usual. “We are a law firm, the first truly national ... Read More »

                      Loan Litigation Mass Joinder Program Sales Scripts Revealed

                      Mass Joinder income Potential

                      A tipster (send in your tips here) sent me the live answer and answering machine sales scripts that were suggested for people to use when selling mortgage modification, loan litigation, mass joinder products to consumers. – Source Below you will find some of the scripts that were recommended to be used to sell consumers on mass joinder cases. Some of ... Read More »

                        U.S. Debt Settlement Morphing Into Financial Wellness Company

                        Debt Away

                        U.S. Debt Settlement has issued the following statement for investors. I had to chuckle when they say the are “transitioning into becoming a financial wellness company.” So does that mean they were not one before and instead caused financial illness? As I mentioned recently in “Debt Settlement Companies Poised to Eat Credit Counseling for Lunch. What a Difference a Day ... Read More »

                          Debt Relief Legislative Update – April 13,2010

                          Ready to Collapse

                          This legislative update comes courtesy of the National Policy Group. Be sure to visit their site for more information. California SB 708 Debt Settlement Consumer Protection Act HEARING SCHEDULED FOR APRIL 27, 2011 April 12, 2011: From Committee with author’s amendments. Read second time and amended. Re-referred to Committee on Banking & Financial Institutions Colorado HB 1206 UDMSA Amendments April ... Read More »

                            Elizabeth Warren Says CFPB to Spend Half of Budget on Enforcement

                            IMG_1215

                            This past Monday I had the pleasure of catching up with my old friend Elizabeth Warren. She was the keynote speaker at the National Association of Attorneys General meeting in Charlotte, NC. Professor Warren made it very clear that the Consumer Financial Protection Bureau (CFPB) will focus on compliance, supervision and enforcement of financial products. This includes all areas of ... Read More »

                              Maryland Attorney General Says Attorney Model Debt Settlement Has Not Risen to His Level

                              Doug Gansler, the Attorney General of Maryland told me in this recent interview I recorded at the National Attorneys General meeting in Charlotte, North Carolina that the FTC TSR had a positive impact in cleaning out the bad actors in the debt relief world and leaving the legitimate companies intact. Interestingly he said that attorney model debt settlement companies had ... Read More »

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