Article and information specifically geared to readers inside the debt relief industry.
The State of Minnesota has issued notice to Legal Helpers Debt Resolution and some affiliates that they are not welcome in the state and calls them a sham. “Minnesota consumers struggling with debt asked Legal Helpers for assistance, but instead they reported that they were scammed out of money they couldn’t afford to lose. These …
Last week I received the following tip regarding Take Charge America. “Once again Take Charge America lays off more employees. After filing suit against the IRS and having to lay off a large number of employees in March 2012. The CEO and COO resigned in October, and now with the CFO acting as CEO they …
CHICAGO, IL–(Marketwire – November 19, 2012) – The national credit card delinquency rate (the ratio of borrowers 90 or more days past due) increased slightly to 0.75% in Q3 2012 from 0.71% in Q3 2011. This rate had been 0.63% in Q2 2012, a seasonal low. Average credit card debt per borrower also increased on …
The Office of Fair Trading in the UK has eliminated a debt relief company license to offer debt help. The OFT has decided to revoke the credit licence of First Step Finance Limited (FSF), a large debt resolution company based in Stockport. The OFT has reached this decision because, among other matters, the company: was …
The Connecticut Department of Banking has issued an update on debt relief companies they have gone after. Frequent readers will recognize that Connecticut is very tough when it comes to companies operating without a debt relief license in the state. The most recent companies named are: US National Legal Solutions US National Legal Solutions a/k/a …
Early this morning I was watching television when the same commercial for National Relief Hotline began running over and over. It caught my attention. It’s important for consumers who see the commercial for National Relief Hotline to understand what exactly it is. The commercial promotes the company can assist consumers who are dealing with: Foreclosure …
The Federal Trade Commission has just announced their accomplishments for 2012 and objectives moving forward into 2013. Along with a number of issues, like deceptive business opportunities, and identity theft, they have also renewed their focus on the debt relief industry. As part of their targeted sector statements they say, “Fraud operators have seized upon …
Rumors are flying and now it’s time for you to share what you know on this. Two different very reliable sources have shared with me two similar stories that have piqued my interest. Apparently, a very large national debt settlement company has been pitching the idea of pairing up with some non-profit credit counselors to …
An article in Adweek talks about focus the Federal Trade Commission has had in going after advertisers for deceptive advertisers. It’s a good read for those that either engage in marketing or hire outside parties or lead vendors to represent their services. The big takeaway is that the FYC is not just concentrating on going …
As a student of debt history I’m probably one of those odd geeks that spends time reading outdated and arcane material about consumer debt and debt relief activities. Recently I sat down and read a 1968 document put out by the NFCC. Today they are called the National Foundation for Credit Counseling but back then …