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Debt Relief Industry

Hey Credit Counseling It’s Coming. The No Fairshare Debt Management Plan.

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Over the past year there has been more talk from people about rolling out a 0% fairsahre debt management plan. Fairshare is the money creditors “contribute” to non-profit credit counseling groups. It’s a percentage of funds collected from consumers and returned to their creditors. In the mid-1990s the fairshare percentage was 15% of all funds returned to creditors. Today it’s ... Read More »

    Second Attorney, Partner, Has Law License Suspended for 6 Months for Debt Settlement Activity

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    Yesterday I published information about an attorney in Florida who had his law license suspended for debt settlement activity. What I missed was his partner had his law license suspended as well. Thanks to commenter Bulb it was pointed out to me. “Brett Feinstein, 407 Lincoln Road, Suite 2A, Miami Beach, suspended for six months, effective 40 days from a ... Read More »

      What’s Your Opinion? Is Debt Settlement the Unauthorized Practice of Law?

      I was just reading a recent case filed against Freedom Debt Relief, Freedom Financial Network, Global Client Solutions, and Brad Allen. The case alleges that the defendants violated the debt relief provisions of the bankruptcy code, violated California law, engaged in the unauthorized practice of law and violated the California consumer fraud act. You can read the full complaint here. ... Read More »

        Florida Lawyer Suspended for Debt Negotiation Assistance and Fee-Sharing

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        A tipster (send in your tips here) forwarded me a copy of the latest disciplinary actions out of Florida that show an interesting situation which may have a far reaching impact on attorney-back office relationships with debt settlement companies. Douglas David Stratton, Miami Beach, Suspended for 30 days, effective 15 days from a January 4 court order. Stratton’s practice expanded ... Read More »

          So What’s Your Opinion? NoteWorld Sales Assistance Seminar.

          NoteWorld Sales Seminar

          A tipster (send in your tips here) sent me a recent email that was sent out by NoteWorld with the following comment, “Come on Noteworld, you can’t claim to be nothing more than a “payment processor”, yet hold webinars teaching DSCs how to market. Noteworld confuses me.” So What’s Your Opinion is a series that invites readers to post their ... Read More »

            Mass Joinder Mortgage Litigation Suits Spreading to Florida

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            The press release below caught my eye. It appears the wave of mass joinder mortgage litigation suits is now hitting Florida. Mitchell Stein, Esq. Files Mass Joinder Lawsuit Against Bank of America in Florida Consumer Advocate Leading Landmark Cases against Banks in California Alleges Massive Fraud against Sunshine State Borrowers Calabasas, CA (Vocus/PRWEB) March 21, 2011 M.J. Stein & Associates ... Read More »

              State of North Carolina vs. Consumer Law Group. My Morning in the Courtroom.


              This morning I had a rare opportunity to go down to the court house and watch a motion argued in the case State of NC vs. Consumer Law Group and Michael Metzner. It was a motion to dismiss and attorney Richard Epstein from Greenspoon Marder flew in from Florida to represent Consumer Law Group. In October 2010 I reported on ... Read More »

                Compliance With State Laws. Is Your Debt Relief Company in Good Shape?

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                The following is a guest post by Scott Johnson, the person I consider to be a leader in helping debt relief companies understand compliance issues and avoid compliance problems. If you have any questions or would like to attend one of his upcoming compliance webinars, contact Scott at Compliance with State Laws 2011 perspective A step beyond the TSR ... Read More »

                  Debt Settlement Employee Sends in a Question and Comments About Companies Going Broke

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                  A debt settlement employee sent in the following observations using this form: Its true that no CID’s were sent out. But there is a lot of talk about the FTC requesting information on settlements being paid by [an escrow company]. (this is first hand from a company I work for regarding a settlement I negotiated.) I have been in the ... Read More »

                    GHS Solutions Reported to Lay Off 112 Workers

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                    The Sun Sentinel is reporting “GHS Solutions, a debt management company in Delray Beach, gave notice to Florida that it plans to lay off 112 employees by May 17. GHS, which also goes under the name of Full Circle Debt Relief, could not be reached Friday about the layoffs.” – Source I can always use your help. If you have ... Read More »

                      Allegro Law Bankruptcy Puts Past Marketers at Financial Risk

                      In 2010 the attorney run debt settlement company Allegro Law imploded. It not only led to the bankruptcy of the debt settlement company but the disbarment of Andy Nelms, Esq. As I covered in the saga of Allegro Law and their subsequent bankruptcy, large amounts of money were paid to marketers to attract consumers to the failed attorney model debt ... Read More »

                        Are You at Risk of Refunds Back Two Years if Your Debt Settlement Clients File Bankruptcy? Legal Helpers Debt Resolution Judgment Says Yes.

                        Not long ago I was having a conversation with someone and we were talking about the big refunds debt settlement companies may face from having charged consumers advanced fees for services but not delivered them. The point was also mentioned that for debt settlement clients that enrolled in and paid fees for debt settlement services that later filed bankruptcy, for ... Read More »

                          Novation Marketing Center and Novation Law Center Get a Shot Over The Bow

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                          HARTFORD – Attorney General George Jepsen is warning consumers that the California companies, Novation Marketing Center and Novation Law Center, are not licensed in Connecticut to provide mortgage loan modification services and are not affiliated with Webster Bank. Jepsen received reports that the companies contacted Webster Bank customers in Connecticut with mortgage modification offers, falsely suggesting an affiliation with the ... Read More »

                            West Virginia Gets a Permanent injunction and Summary Judgment Against CCDN


                            Back in August of 2010 the State of West Virgnia went after Robert Lock, Phillip Manger and Credit Card Defense Network (CCDN). What makes this suit interesting, unlike this other one where CCDN was a target for their novation approach, is that the State of West Virginia is going after CCDN as a debt settlement company. In the complaint the ... Read More »

                              Field Attorney’s Working in Debt Settlement Apparently Get Paid Diddly-Squat

                              Attorney Fee List 1

                              A tipster (send in your tips here) just sent me in a document that outlines the fees paid to attorney’s that represent debt settlement clients for Persels & Associates and Consumer Law Associates. 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 ... Read More »

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