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Debt Relief Industry

Unsecured Consumer Debt Continues to Fall. Bad for Debt Relief Companies.

Dollar Bank Note Downward Trend Arrow

Another month has passed and the Federal Reserve has updated their latest stats. As predicted, the level of consumer debt fell in February at an annual rate of 3.4 percent. Unsecured debt has been the bread and butter of debt relief, debt settlement, and credit counseling companies and while the population grows and unsecured shrinks it puts significantly more pressure ... Read More »

    Scott Law Group Adds GreenByPhone to List

    law books

    The Scott Law Group, that Washington state legal firm that has sued a number of debt relief companies, has added a new name to this big list, GreenByPhone, Inc. But apparently these folks were involved in an action with J Hass Group, a name debt relief industry people should recognize. According to the Scott Law Group: On March 14, 2014, ... Read More »

      Consumer Assistance Project Not Loved by Connecticut


      Here is what the Connecticut Department of Banking says: IN THE MATTER OF: LAW OFFICES OF TIMOTHY MCCABE, P.A. (“McCabe”) CONSUMER ASSISTANCE PROJECT, CORP f/k/a BACK OFFICE LAW PROJECT, CORP (“Consumer Assistance Project”) McCabe is a former attorney with offices at 30 S. M. Street, Lake Worth, Florida, and 1350 E. Newport Center Drive, Suite 100, Deerfield Beach, Florida. Consumer ... Read More »

        AmeriFree Says I Got It All Wrong

        happy woman in wheelchair outdoors beach showing victory sign

        In a recent article “Why Isn’t AmeriFree Licensed in Their Own State?” a reader asked why AmeriFree did not appear to be registered to offer debt relief services in Arizona. As I said in the article, I had previously reached out to AmeriFree for a statement or response and heard nothing. Well today I have. A John Corey said, “AmeriFree ... Read More »

          Continued Downward Pressure In Debt Relief Demand

          Mature woman confused

          The latest round of statistics is out showing what consumers are doing when it comes to debt. On the surface it appears the amount of debt is going up and that’s good news for credit counselors and debt settlement companies. A closer inspection though continues the gloom forecast for such services. While consumer debt is up, revolving debt, the bread ... Read More »

            Why Isn’t AmeriFree Licensed in Their Own State?

            Screen Shot 2014-03-06 at 2.50.40 PM

            A reader asked me why a debt relief company AmeriFree, located in Arizona, was not licensed as a debt management company according to the state AmeriFree is located in. My answer was, “don’t know” so I went to investigate. AmeriFree can be found at and their domain regisration says they are located at: AmeriFree Financial, Inc 1920 E Broadway ... Read More »

              Debt Relief Salesperson Sentenced to Jail for Marketing Misrepresentations

              mans hands behind bars in jail or prison

              A Florida man was sentenced today to serve 12 months and one day in federal prison for defrauding thousands of homeowners in a $4 million nationwide home loan modification scheme. Special Inspector General for the Troubled Asset Relief Program (SIGTARP) Christy Romero, Acting Assistant Attorney General Mythili Raman of the Justice Department’s Criminal Division, and U.S. Attorney Carmen M. Ortiz ... Read More »

                Fake Looking Official Mailer for Student Loan Assistance

                Student Loan Services Pre-Qual

                An amazing reader, Emily, sent in a new debt relief mailer through my I Buy Junk Mail program. As you can see from the outside the mailer does not identify the company and pretends to look like an official mailer. It comes from postal permit 1297 in Sacramento, California, which has been responsible for sending out other debt relief mailers. ... Read More »

                  Big Changes Afoot for CareOne


                  Whispers online were telling me about big changes to CareOne coming. According to CareOne spokesperson Suzanne Coblentz, there are. “CareOne, a subsidiary of Ascend One, will continue to provide the same great service our customers have come to expect from CareOne. For the time being, the CareOne brand will continue to be in the market, but will not be making ... Read More »

                    Why Did First Stone Credit Counseling Pay Commissions?

                    family portrait

                    A reader wanted to know why the public returns for First Stone Credit Counseling listed commissions as an expense since nonprofit credit counselors are not allowed to pay commissions under 501(q). – Source A visit to their site at found a curious title to their site. It seems their primary focus is not credit counseling in the title but ... Read More »

                      Who is Really Behind Resolution Law Group?

                      Mature woman confused

                      Calls are coming in from consumer advocates asking me who is really behind Resolution Law Group out of Connecticut. I’ve written about them before, here. The company was selling mass joinder mortgage cancellation services to consumers. It seems the Resolution Law Group is being less than transparent about who is really in control and inquiring minds want to know. If ... Read More »

                        Jacoby & Meyers Bankruptcy Goes Dark


                        A tipster (send in your tips here) sent in a message about the Jacoby & Meyers Bankruptcy site had a strange message on it. For those that might not remember, Jacoby & Meyers Bankruptcy was created when Macey Bankruptcy Law merged with Jacoby & Meyers. As of right now the Jacoby & Meyers website is essentially gone. It does have ... Read More »

                          Credit Counseling Agencies Need Credit Counseling Help

                          stressed man

                          Richard Burnett of the Orlando Sentinel recently wrote an interesting piece about the realities of modern non-profit credit counseling and how they need help. With demand dropping, existing credit counseling agencies are scrambling to find new avenues of income. Credit counseling agencies are turning to trying to sell student loan assistance and one agency reports having a pilot program to ... Read More »

                            Edward Cherry Changes Name to Edward Gregory Steadman


                            A tipster (send in your tips here) sent in a tip that Edward Cherry legally changed his name in 2013 from Edward Cherry to Edward Gregory Steadman. Apparently this happened when he applied for the name change in May of 2013 but it was not finalized until July 2013. Normally a name change would be a huge non-news event but ... Read More »

                              West Virginia Sues Legal Helpers Debt Resolution

                              law books

                              West Virginia Attorney General Patrick Morrisey announced today that his Office recently filed suit in Kanawha County Circuit Court seeking to prohibit Legal Helpers Debt Resolution LLC from doing any further business in the state. Talk about late to the party. In his complaint, Attorney General Morrisey alleges Legal Helpers Debt Resolution LLC, a Nevada company based in Chicago, violated ... Read More »

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