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Debt Relief Industry

Does the New Debt Settlement Industry Get It?

A tipster (send in your tips here) sent in a link to a recent article from CreditCards.com that was published on Fox Business, “Debt settlement industry in flux as new rules start.” In the article is a section attributed to Andrew Houser from Freedom Debt Relief. Cherry picking the good cases Housser from the settlement industry trade group says the ... Read More »

    Stupid Foreclosure Rescue Group Warned and Then Changes Name. Now Banned in North Carolina.

    A so-called foreclosure rescue company that previously operated in Charlotte and Colfax, NC and its owner are banned from ever doing foreclosure assistance work in North Carolina, Attorney General Roy Cooper announced today. “Taking people’s money and then failing to help them just pushes homeowners even closer to foreclosure,” Cooper said. “We’ll keep going after these foreclosure rescue schemes that ... Read More »

      Foreclosure Relief Service Provider Pays Big Bucks to Colorado

      On January 4, 2010 Colorado Attorney General John Suthers announced that a Jefferson County District Court judge has entered a final judgment against Sherron L. Lewis, Jr., (DOB: 9/26/1956) after he failed to respond to the state’s lawsuit over his illegal foreclosure-relief activities. The judgment permanently bars Lewis from providing foreclosure-relief services and requires that he pay $181,266 to the ... Read More »

        Payday Everyday Settles Issues With Texas by Sending Over a Lot of Cash

        Colorado Attorney General John Suthers announced yesterday that attorneys from his office have reached an agreement with a Dallas, Texas-based payday lender, Payday Everyday of Colorado, to settle issues involving the company’s repeated failure to comply with state-ordered corrective actions since 2009. Under the final agency order, filed by the office’s Uniform Consumer Credit Code unit, Payday Everyday of Colorado ... Read More »

          Former Capital One Insider Spills Beans About Debt Settlement and Capital One.

          On January 7, 2010, FTC staff spoke by telephone with Michael Figliuolo, an individual who submitted a comment in response to the Notice of Proposed Rulemaking regarding the debt relief amendments to the Telemarketing Sales Rule. Mr. Figliuolo worked for several years in Capital One’s collections department. In 2001, he began working at Capital One as Group Manager for U.S. ... Read More »

            Safetrust Financial Announces Bankruptcy and Ditches Affiliates

            Safetrust Financial Bankruptcy

            An awesome tipster (send in your tips here) just sent in the following email they received from Safetrust Financial. Kind of ironic that a debt settlement company goes bankrupt to keep servicing the accounts of people who wanted to avoid bankruptcy. But then uses bankruptcy as a way to shed the liabilities of the affiliates that sold consumers the Safetrust ... Read More »

              Bogus U.S. Debt Reduction Initiative Form T-09-A Still Being Sent Out

              Form T-09-A Envelope

              In June, 2010 the BBB released a copy of a bogus mailer that was being sent to consumers. I published a copy of that mailer here. It appears despite warnings that the mailer was deceptive, it is still going out. Here is an image of the envelope and mailer that I received from a tipster (send in your tips here). ... Read More »

                Nationwide Support Services Sends Out “Don’t Be a Chimp” Email

                Dont Be a Chimp

                A tipster (send in your tips here) send in the following email that was sent out by Nationwide Support Services. The “click here for product offerings” button lead to financialstrengthbuilder.com which offers the following services. Financial Strength Builders says it is TFG, Inc out of Las Vegas. It’s a minor technicality but there actually is no registered company called “TFG, ... Read More »

                  Debt Collection Attorney Wants to Sell You Debt Settlement Business Opportunity

                  Law Firm Business Opportunity

                  This article comes from a fabulous tipster (send in your tips here) that brought the following web advertisement to my attention. What caught my eye initially is the selling of a business opportunity with a “Law Firm with more than 17 years in the Debt Collection Business.” – Source. So who is the attorney or law firm? If it is ... Read More »

                    Modify Utah Shutters Doors. Leaves Consumers Stranded.

                    Thanks to a tipster (send in your tips here) I found out about a loan modification company in Utah called Modify Utah. The company apparently closed up without advance notice to consumers that had paid for services. The Desert News is reporting: According to a letter from the firm’s attorney, Paxton Guymon, Modify Utah ceased doing business for several reasons, ... Read More »

                      Unlicensed GHS Solutions Handing Back Lots of Cash to Idaho Residents

                      Ready to Collapse

                      GHS Solutions is handing back $303,218 to Idaho residents and paying a $15,000 bill to Idaho for penalties, attorney fees and investigative expenses. It seems that GHS Solutions was servicing Idaho residents without being licensed in the state to do so. Oops. The Idaho Statesman is reporting: Since at least July 2008, GHS Solutions provided debt-settlement services to at least ... Read More »

                        Let’s Play Do They Comply. Isn’t This Bankruptcy Fee Splitting?

                        Bankruptcy Affilaite

                        A tipster (send in your tips here) brought my attention to rest on the following page from the Debt Alternative Center. The question is, isn’t this legal fee splitting? DMP Shocker On the same site, debtalternativecenter.com, I came across the page to be a debt management affiliate which says the affiliate can charge the consumer from $300 to $1,400 for ... Read More »

                          Mortgage Modification Letter Gives the Telephone Number of Legal Helpers Debt Resolution?

                          Priemer Consulting Group

                          The strangest tip just came in from someone that was helping a consumer with their mortgage problem. The tipster (send in your tips here) said: I got a call from a client. He’s the seller of a short sale we’re about to close on this month. His message, “I finally got my loan mod, it just came in the mail ... Read More »

                            All Fake and False Companies Were Flushed Out Says Debt Settlement Lead Generator

                            Credit Card Debt Negotiations

                            A tipster (send in your tips here) sent in a link to the following hilarious press release sent out by creditcarddebtnegotiations.com, a site that was last publicly identified as being owned by Ryan Golembiewski. I knew I’d seen that name before and when I searched the site I found, a previous article in which he was mentioned, “TASC, Are You ... Read More »

                              NYC Still Pushing for Debt Settlement Consumer Protection Act

                              On November 18, 2010 a meeting was held with the New York City Council and testimony was presented. As part of that testimony it was reveled that the New York City Department of Consumer Affairs is still pushing for the Debt Settlement Consumer Protection Act. We are also pushing for strong federal legislation, the Debt Settlement Consumer Protection Act of ... Read More »

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