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Debt Relief Industry

Bank of America Debt Settlement Statement of Compliance

BOA Debt Settlement Complaince 1

It appears that the Bank of America debt settlement statement companies must sign may pose a problem to certain legal model debt settlement companies. The first page says that Bank of America will only work with law firms that have provided in-person and direct face-to-face meetings. That’s just not happening. And in many case it’s with a notary or other ... Read More »

    Mass Joinder Marketing Fraud Alert Issued By California

    A tipster (send in your tips here) sent me an email that alerted me to an alert that has been published by the California Department of Real Estate. Alert from California Department of Real Estate California Department of Real Estate ** CONSUMER ALERT ** FRAUD WARNING REGARDING LAWSUIT MARKETERS REQUESTING UPFRONT FEES FOR SO-CALLED “MASS JOINDER” OR CLASS LITIGATION PROMISING ... Read More »

      Global Client Solutions and Rocky Mountain Bank & Trust Still Can’t Shake Free of KY Case

      Global Client Solutions and Rocky Mountain Bank & Trust were named in a case that had been filed back in May of 2010. The two entities have tried to get out by enforcing an arbitration clause, but the judge didn’t agree. On February 17, 2010 Judge Heyburn issued an opinion regarding the requests to dismiss GCS and Rocky on the ... Read More »

        The Life Raft Plan to Rescue Consumers Abandoned by a Closing Debt Settlement Company

        photo © 2008 Thomas | more info (via: Wylio)I’ve suggested to several debt settlement companies that they participate in a life raft rescue plan I’d like to put together to help save consumers that may be abandoned as debt settlement companies fail. The response from the companies I’ve talked to has been good and I’d like your feedback on the ... Read More »

          Intertwined Safe Trust Financial, Vertexsoft, and P&E Solutions All File Bankruptcy. Blame FTC.

          On February 7th Safe Trust Financial, Vertexsoft Corporation and P & E Solutions all filed for Chapter 11 bankruptcy protection. What follows is a review of the documents filed in that case to date. As of the date of this article, the case is ongoing and clients have been receiving notices from the bankruptcy court. 2-7-2011 Safe Trust Financial Bankruptcy ... Read More »

            Arizona Attorney General Reaches Deal WIth Principal Reduction Group

            Ready to Collapse

            Attorney General Tom Horne today announced recently a settlement agreement with Scottsdale based Principal Reduction Group, LLC, and Brian Cutright, owner and operations manager of Principal Reduction Group, LLC. Pursuant to the settlement agreement, Principal Reduction Group and Brian Cutright agree to no longer engage in any activity, directly or on behalf of any third party, that involves originating, closing, ... Read More »

              Mass Joinder Mortgage Litigation Secret Shopper Call Transcript. Not Good.

              Ready to Collapse

              Last week I made a secret shopper call to one of the companies that are advertising for mass joinder plaintiffs. My concern with the mass joinder mortgage litigation marketing is that the massive commissions being paid are going to lead to marketing abuses. In this call the marketing representative shared some interesting information. They told me that: I’d be financially ... Read More »

                Brookstone Law, PC, Fights Defamatory Statements From Individuals Posing As Potential Clients and Representing Themselves As Associated With Brookstone

                Ready to Collapse

                Law Firm Dedicated to Protecting Consumers’ Rights Denounces Defamatory Internet Postings, Plans Aggressive Defense To Stop Negative Internet Campaign Newport Beach, CA (Vocus/PRWEB) March 11, 2011 An investigation by Brookstone Law PC has revealed allegedly illegal usage of the name and likeness of industry leaders Brookstone Law PC and Mitchell J. Stein, Esq. and their current lawsuits, according to Vito ... Read More »

                  BBB Canada Issues Warning About U.S. Debt Settlement Companies, Vortex Debt Group and Cambridge Life Solutions

                  Ready to Collapse

                  Looks like debt settlement troubles have headed up to Canada and a couple of U.S. based companies have made a noticeable splash. A Canadian newspaper is warning consumers to be wary of two specific U.S. based debt settlement companies. The Now is reporting: In the last two months, numerous companies identifying themselves as debt settlement experts or credit counsellors have ... Read More »

                    Mass Litigation Alliance Sends Presentation Showing Phillip Kramer and Mitchell Stein Working Together With MLA

                    Mass Joinder Law Suit- Info_page0

                    Mass Litigation Alliance just sent me the following presentation which is confusing because it sure looks like Mitchell Stein and Phillip Kramer are working together through Mass Litigation Alliance on selling consumers access into mass joinder mortgage litigation. The last slide is the one of most interest in making a connection between Kramer and Stein. I can always use your ... Read More »

                      Mesa Law Group Sending Out Form 1012-R Mass Joinder Mailer

                      Form 1012-R

                      An awesome tipster (send in your tips here) uploaded a copy of the Form 1012-R mass joinder mailer they received. They said: After receiving 2 of these today I came to my computer to google the information which led me to your site. I did not find World Savings listed. I did however see your request for the entire mailing, ... Read More »

                        Cyrus Global Says Debt Restructuring is Better Than Anything Else

                        Affilliate Presentationfixed (1).001

                        A tipster (send in your tips here) sent in a pitch Cyrus Global is sending out information to prospective affiliates/partners promoting that debt restructuring is superior to debt litigation lawyers, debt settlement companies and debt management companies. Has anyone talked to an actual consumer that had a debt buyer that purchased their debt and restructured it for them? I haven’t ... Read More »

                          What to do Right Now if You Are a Debt Settlement Company and You May be Going Out of Business. Lessons Learned.

                          Ready to Collapse

                          It occurred to me that this morning I wrote an article about what to do if your debt settlement company might go out of business but while I’m sitting here waiting for my next flight I thought I’d share some advice if you are a debt settlement company and it does not look like you will be able to continue ... Read More »

                            DRO, Debt Relief Options. Let’s Play “Do They Comply?”

                            DRO Timelines

                            Today’s candidate for Do They Comply was sent in by a regular tipster (send in your tips here). It’s a good example to use for out little compliance game. Of interest is the column showing the saving example. I bet Freedom Debt Relief would have some advice to give on that issue after their recent settlements with states. Click on ... Read More »

                              Consumer Services Protection Commission. What a Load of Crap!

                              Department of CSPC

                              Loyal readers of this site know I look at a lot of debt relief sites and sometimes write reviews of those sites. Well this site is so egregious it does not need a lengthy review. It’s just total crap. The Department of Consumer Services Protection Commission pretends to be something it is not. It pretends to be a government protection ... Read More »

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