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Debt Relief Industry

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 »

                        TX Class Action Suit Filed Against Debt Choice, Lexxiom, The Iniguez Law Firm, and Miguel Iniguez, Esq.

                        A tipster (send in your tips here) brought the recently filed class action case in Texas to my attention. Mary Hope v. Debt Choice, Lexxiom, The Iniguez Law Firm, and Miguel Iniguez. It is yet another case that involves an attorney debt settlement model, back-end servicer, and marketing partner. On March 22, 2011 Mary Hope filed a class action lawsuit ... Read More »

                          Credit Counseling IRS Non-Profit Status Revocations for 2011

                          Ready to Collapse

                          The IRS has revoked its determinations of the following organizations as described in sections 501(c)(3) and 170(c)(2) of the Code. Christian Credit Counselors International, Santa Ana, CA – 2-28-2011 Consumer Credit Protection Agency, Tampa, FL – 2-28-2011 Debt Serve, Fort lauderdale, FL – 2-22-2011 Falls Consumer Credit Management, Akron, OH and Saint Clairsville, OH – 2-28-2011 Harbour Credit Counseling Services, ... Read More »

                            Non-Profit Credit Counselor CEOs Making Big Bucks

                            NP Comp

                            Thanks to a tipster (send in your tips here) I was directed to an article that appeared recently titled Non-profit credit advisers cash in; CEOs earn big as consumers struggle. The article does make some interesting observations that some of the larger non-profit credit counseling groups do pay their CEOs a tremendous amount of money in compensation. “Of the 44 ... Read More »

                              My Walking Tour of Cambridge Credit Counseling

                              Recently I had the pleasure of meeting up with the folks at Cambridge Credit Counseling in Springfield, Massachusetts. I wanted to take you on an audio tour of the office and share with you what I saw. Audio Tour of Cambridge Credit Counseling During the tour you will hear me talk to Thom Fox about our previous visit to the ... Read More »

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