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Debt Relief Industry

Mass Joinder Mortgage Litigation Suits Spreading to Florida

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The press release below caught my eye. It appears the wave of mass joinder mortgage litigation suits is now hitting Florida. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Mitchell Stein, Esq. Files Mass Joinder Lawsuit Against Bank of America in Florida Consumer Advocate Leading Landmark Cases against Banks in California Alleges Massive Fraud against Sunshine ... Read More »

    State of North Carolina vs. Consumer Law Group. My Morning in the Courtroom.


    This morning I had a rare opportunity to go down to the court house and watch a motion argued in the case State of NC vs. Consumer Law Group and Michael Metzner. It was a motion to dismiss and attorney Richard Epstein from Greenspoon Marder flew in from Florida to represent Consumer Law Group. In October 2010 I reported on ... Read More »

      Compliance With State Laws. Is Your Debt Relief Company in Good Shape?

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      The following is a guest post by Scott Johnson, the person I consider to be a leader in helping debt relief companies understand compliance issues and avoid compliance problems. If you have any questions or would like to attend one of his upcoming compliance webinars, contact Scott at [email protected] Get Out of Debt Guy – Twitter, G+, Facebook Need More ... Read More »

        Debt Settlement Employee Sends in a Question and Comments About Companies Going Broke

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        A debt settlement employee sent in the following observations using this form: Its true that no CID’s were sent out. But there is a lot of talk about the FTC requesting information on settlements being paid by [an escrow company]. (this is first hand from a company I work for regarding a settlement I negotiated.) I have been in the ... Read More »

          GHS Solutions Reported to Lay Off 112 Workers

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          The Sun Sentinel is reporting “GHS Solutions, a debt management company in Delray Beach, gave notice to Florida that it plans to lay off 112 employees by May 17. GHS, which also goes under the name of Full Circle Debt Relief, could not be reached Friday about the layoffs.” – Source Get Out of Debt Guy – Twitter, G+, Facebook ... Read More »

            Allegro Law Bankruptcy Puts Past Marketers at Financial Risk

            In 2010 the attorney run debt settlement company Allegro Law imploded. It not only led to the bankruptcy of the debt settlement company but the disbarment of Andy Nelms, Esq. As I covered in the saga of Allegro Law and their subsequent bankruptcy, large amounts of money were paid to marketers to attract consumers to the failed attorney model debt ... Read More »

              Are You at Risk of Refunds Back Two Years if Your Debt Settlement Clients File Bankruptcy? Legal Helpers Debt Resolution Judgment Says Yes.

              Not long ago I was having a conversation with someone and we were talking about the big refunds debt settlement companies may face from having charged consumers advanced fees for services but not delivered them. The point was also mentioned that for debt settlement clients that enrolled in and paid fees for debt settlement services that later filed bankruptcy, for ... Read More »

                Novation Marketing Center and Novation Law Center Get a Shot Over The Bow

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                HARTFORD – Attorney General George Jepsen is warning consumers that the California companies, Novation Marketing Center and Novation Law Center, are not licensed in Connecticut to provide mortgage loan modification services and are not affiliated with Webster Bank. Jepsen received reports that the companies contacted Webster Bank customers in Connecticut with mortgage modification offers, falsely suggesting an affiliation with the ... Read More »

                  West Virginia Gets a Permanent injunction and Summary Judgment Against CCDN


                  Back in August of 2010 the State of West Virgnia went after Robert Lock, Phillip Manger and Credit Card Defense Network (CCDN). What makes this suit interesting, unlike this other one where CCDN was a target for their novation approach, is that the State of West Virginia is going after CCDN as a debt settlement company. In the complaint the ... Read More »

                    Field Attorney’s Working in Debt Settlement Apparently Get Paid Diddly-Squat

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                    A tipster (send in your tips here) just sent me in a document that outlines the fees paid to attorney’s that represent debt settlement clients for Persels & Associates and Consumer Law Associates. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? I can always use your help. If you have a tip or information you want ... Read More »

                      Bank of America Debt Settlement Statement of Compliance

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                      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. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Alert from California Department of Real Estate California Department of Real Estate ** CONSUMER ALERT ** FRAUD WARNING REGARDING LAWSUIT ... 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. Get Out of Debt Guy ... Read More »

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