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Debt Relief Industry

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

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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.


      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

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        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 Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? The Press Release The Debt Settlement Industry Is Dead! TASC (The Association of Settlement Companies) has seen over a 60% ... 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

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              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

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                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

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                    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. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? National Foundation for Credit Counseling and United Way Worldwide Join Together to Help ... 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

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                              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 »

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