Latest Posts
Home > Debt Relief Industry (page 70)

Debt Relief Industry

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


    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 »

        Attorney General of Colorado Tells Me There are Several Active Investigations Into Attorney Model Debt Settlement Companies

        At the recent National Association of Attorneys General meeting in Charlotte I had an opportunity to talk to Attorney General John Suthers. General Suthers says attorneys should not hide behind attorney fronts and they are proceeding against attorneys since they are effectively debt relief operations. Attorney General John Suthers Interview Subscribe to Debt Interviews You can subscribe to my series ... Read More »

          Humpy Wheeler and I Talk About How NASCAR Got Slammed in these Economic Tough Times

          Humpy Wheeler was at the NASCAR Hall of Fame for a reception for the recent National Association of Attorneys General meeting in Charlotte, North Carolina. Mr. Wheeler has played a large role in the growth of NASCAR as the past owner of the Lowe’s Motor Speedway near Charlotte, NC. You can learn more about Humpy Wheeler here. Recently, in an ... Read More »

            My Interview With Attorney General Roy Cooper from North Carolina on Attorney Model Debt Settlement

            At the recent National Association of Attorneys General meeting I caught up with Attorney General Roy Cooper from North Carolina. We talk about debt relief services and the attorney model of debt settlement services. General Cooper talks about how the money paid in advance for debt relief services hurts both the consumer and the creditor. He talks about how working ... Read More »

              I Interview Robert Stephan Former Attorney General of Kansas

              At the recent National Association of Attorneys General meeting I had the pleasure of interviewing former Kansas Attorney General Robert Stephan who served between 1979 to 1995. We talk about how financial issues from the 1980s and today are very much the same. We talk about the problems he faced while the chief cop in Kansas. Our discussion of payday ... Read More »

                Debt Settlement Companies Poised to Eat Credit Counseling for Lunch. What a Difference a Day Makes.

                Ready to Collapse

                It’s funny how a little thing like the FTC telemarketing sale rules can lead to change and eventually revitalize an industry. Last year I wrote and talked about how the debt settlement industry needed to expand their horizons with a combined debt management plan (DMP) and settlement approach. They could focus on settling some debts quickly, earning revenue, while parking ... Read More »

                  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: ... 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.


                          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 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 »

                                Get My FREE Get Out of Debt Guy Newsletter

                                I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.You can unsubscribe at any time with just one click.After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

                                I promise to keep your email safe and secure.