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Debt Relief Industry

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 »

          Center for Responsible Lending Sends Out Press Release on California Debt Settlement Consumer Protection Act (SB 708)

          The Center for Responsible Lending has sent out the following press release on the California Debt Settlement Bill that has been proposed by Majority Leader Ellen Corbett. Here is a copy of the current version of SB 708 as introduced. The history of SB 708 can be found here. OAKLAND, Calif., March 7, 2011 /PRNewswire-USNewswire/ — Californians struggling to overcome ... Read More »

            Freedom Debt Relief Pays Over One Million Dollars to Settle With NY Attorney General

            Just last week Freedom Debt Relief settled with the State of Washington for a bit over $740,000. Today out of New York comes the announcement that Freedom Debt Relief os now settling an issue there for $1.1 Million. This case should be a warning to any debt settlement company that is advertising any claims of specific savings and debt reductions ... Read More »

              BBB to Regrade Debt Settlement Companies

              Ready to Collapse

              Multiple sources have now come forward to share with me information that shows the BBB has written an extensive guide on regrading BBB debt settlement company members. The bottom line is that the BBB recognizes the importance of the FTC Telemarketing Sales Rule implementation and is using that as the basis of the regrading. The good news is this will ... Read More »

                Mass Joinder & Mass Litigation Affiliate and Marketing Information

                K2 Affiliate

                In an effort to wrap my head around who are the current players in the marketing of mass joinder and mass litigation when it comes to mortgages I’m posting this article. This post draws no conclusions but is simply a repository of examples of this type of marketing. If you have any additional examples, please post them in the comments ... Read More »

                  Tipster Wants to Know, are Credit Arbitrators and Credit Answers the Same Outfit?

                  Credit Arbitrators Building

                  A tipster (send in your tips here) want to know if Credit Arbitrators was the same company as Credit Answers. I took a look at the two websites and discovered they have the same picture of the same office building they work in. I’ll let you comment and judge. Click image for a larger view. Certainly an interesting coincidence. And ... Read More »

                    Debt Settlement Lead Seller Targets Disabled and Elderly

                    Loan Mod Settlement Leads

                    I spotted this little nugget online. It’s a California based company that is selling debt settlement leads that appear to target people on SSI, pensions, or retirement. – Source Feel free to comment. 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 »

                      Mass Joinder Mortgage Lawsuits Just Got a Whole Lot More Foul Smelling

                      Brookstone Sales Ad

                      An amazing tipster (send in your tips here) sent in a bunch of documents on the sales approach for the recent wave of mass joinder lawsuits that are being sold as a way to get your house free and clear. These documents, that I will share with you below, not only create some potential concerns over legal fee splitting but ... Read More »

                        Debt Relief Cottage Industry Springs Up. Fee Recovery by the Center for Legal Justice.

                        Center for Legal Justice

                        In the interest of disclosure I have had conversations recently with Damon Day, an independent debt coach, that does provide a fee only on recovery service for consumer paid fees for debt relief service not delivered. I’ve also spoke with others previously inside the debt settlement arena who are considering launching national services to recover fees paid specifically for advanced ... Read More »

                          New Life Debt Relief and Debt Stub Have Similar Websites and Settlement Examples

                          NewLiftDebtRelief.org

                          A commenter on an article I just wrote about DebtStub.com, (see article here), which says they are located DebtStub.com, 128 Old Town Rd Suite A Setauket, NY 11733, just posted that a comment saying the DebtStub.com site looks the same as the New Life Debt Relief site. New Life Debt Relief says they are located at New Life Debt Relief, ... Read More »

                            Freedom Debt Relief to Pay Big Settlement to Washington Residents

                            FDR Judgment Summary

                            The Attorney General in Washington announced today they had reached a settlement with Freedom Debt Relief to pay nearly $800,000 in restitution plus attorneys fees and costs. We’re paying special attention to operations that take advantage of people who, due to this tough economy, are already struggling to put food on the table and keep the lights on,” Attorney General ... Read More »

                              Debt Stub, DebtStub.com, “Our Reputation Speaks for Itself.” What’s It Saying Now?

                              DebtStub.com

                              A tipster (send in your tips here) point out DebtStub.com to me and asked me to check if they were a USOBA member, since I have found many recently who are not but displaying the seal. A look at the site found they are using the USOBA logo. They claim to be members of both TASC and USOBA but TASC ... Read More »

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