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Debt Relief Industry

Credit Alliance Group and Credit Alliance Services Alleged to Have Not Helped Credit Rating. Hit With Class Action.

CAG Suit 1

A tipster (send in your tips here) pointed out a recent suit to me in North Carolina, Deborah Sumlin v. Credit Alliance Group and Credit Alliance Services Incorporated. The plaintiff alleges that Credit Alliance Group and Credit Alliance Services, out of Texas, were hired to provide assistance in improving, repairing or correcting credit records, credit histories and credit ratings. It ... Read More »

    Lead Generation Websites Closed Following OFT Investigation in the UK

    Ready to Collapse

    The Office of Fair Trading in the UK, the near equivalent of the FTC here in the U.S. just announced a crackdown on financial services lead generation sites. In the UK, websites that generate leads must be licensed under the Consumer Credit Act. The sites closed by the government were: www.loansfordisabledpeople.co.uk www.samedayloansforpeopleonbenefits.co.uk www.militaryloans.org.uk www.cashloansforpeopleonbenefits.org.uk www.urgentloansbadcredit.co.uk www.cashtoday.me.uk www.cashpayday.me.uk www.debitcardinstantloans.co.uk www.cashloansunsecured.co.uk www.loansforpeoplewithbadcredit.me.uk ... Read More »

      How Settlement Companies Can Maximize Income and Have Happier Clients by Teaching People How to Settle Their Own Debts

      Ready to Collapse

      Charles J. Phelan has been helping consumers become debt-free without bankruptcy since 1997. A former senior executive with one of the nation’s largest debt settlement firms, he is the author of the Debt Settlement Success Seminar™, an 8-hour audio-CD course that teaches consumers how to choose between debt program options based on their financial situation. The course focuses on comprehensive ... Read More »

        Century Mitigations Announces Debt Settlement Getting Into Credit Counseling

        Century Mitigations

        This is the second time today I’ve seen the message that debt settlement companies are embracing credit counseling and going to start offering that service. The first mention was about a presentation by The Association of Settlement Companies (TASC) regarding training that was going to be offered to its members. State and Federal Compliance: How to Market and Sell Safely ... Read More »

          Mass Joinder Soap Opera. New Episode, Affiliate Sues Attorney Davis and Kramer.

          CrawfordvKramer_ExhibitA_1

          For those of us watching the train wreck of mass joinder efforts it seems every day brings a new episode of how not to run a debt relief business. In this case the mass joinder niche is where attorneys are selling access to lawsuits against banks for improprieties in mortgages. Access is sold through affiliates and marketing agents who have ... Read More »

            Global Client Solutions, Debt Care USA, and Nationwide Debt Settlement Group Hit With Oregon Class Action

            Ready to Collapse

            Global Client Solutions, Debt Care USA, and Nationwide Debt Settlement Group were all recently named as defendants in a Oregon class action suit. This now marks the yet another in a growing line of class action suits that name the chain of players as parties. This case names the front end marketer, back office processor and payment facilitator. The allegation ... Read More »

              Prestige Financial Solutions Declares the Debt Settlement Industry is Dead

              An interesting press release out today from Prestige Financial Solutions declares the debt settlement industry to be dead. Prestige Financial Solutions is a debt settlement company. – Source The Press Release The Debt Settlement Industry Is Dead! TASC (The Association of Settlement Companies) has seen over a 60% reduction in its membership of debt settlement companies since the beginning of ... Read More »

                Suspicious New Life Financial Solutions Contract Has Me Very Concerned – SCAM

                A credit counselor tipster (send in your tips here) sent me in a consumer agreement for a company called New Life Financial. Immediately after looking at the contract and then visit the website my radar was going off. It seems the company that offers a service where they review the finances of a consumer and then guide them to a ... Read More »

                  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 »

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