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Debt Relief Industry

Credit Counseling Group Makes Presentation to FTC About Cracking Down on Bad Actor Debt Settlement Companies

Cambridge Credit Counseling FTC Presentation.001

I’ve obtained a copy of the presentation that was made to the FTC about debt settlement companies that are trying to evade the FTC telemarketing sales rules which in turn lead to consumer harm. It was interesting to see so many images from this site used since I had nothing to do with the presentation, but hey, I have reported ... Read More »

    Credit Answers Hides Behind DMI Mailer to Consumers

    DMI-Front

    Thanks to a great tipster (send in your tips here) I received a mailer that was sent to consumers. The envelope looks official and comes from: DMI 6200 Tennyson Parkway Suite 200 Plano, TX 75024 The letter inside is the first mention of Credit Answers in the small print on the bottom. It is also the first place we learn ... Read More »

      Debt Settlement Company Elite Financial Services Agrees to Repay Missouri Consumers

      Ready to Collapse

      Attorney General Koster yesterday announced that the Massachusetts-based debt settlement firm Elite Financial Services, Inc., has agreed to refund all fees paid by Missouri consumers and cease operating in Missouri. Koster said Elite Financial Services charged consumers a fee and promised to reduce their unsecured debt, such as credit card debt, but failed to do so in many instances. He ... Read More »

        Legal Helpers Debt Resolution Email in Search of Marketers

        Legal Helpers Marketing

        A tipster (send in your tips here) forwarded me this email, image below, that Legal Helpers Debt Resolution is forwarding in search of companies in the debt relief world that want to “Make Money Next Week.” It is certainly an interesting approach for a law firm to take and it did strike me that they are pushing the conversion to ... Read More »

          Premier Debt Resolvers Deceptive Mailer – Government Economic Stimulus Act

          615 Degraw St-Front

          This mailer comes from Premier Debt Resolvers at 615 Degraw St, Brooklyn, NY 11217. 877-845-6161. The two issues that jumped out immediately to me were the use of a government act that has nothing to do with debt settlement and the use of the equal housing logo on the bottom right. I also have a problem with the mailer making ... Read More »

            CareOne Jumps on Bandwagon with Credit Counseling Request for FTC to Take Action Against Rogue Debt Settlement Companies

            Ready to Collapse

            A pretty smart move by CareOne. See press release below. CareOne Expands On Push to Close Debt Settlement Loopholes Columbia, Md. (December 16, 2010) – CareOne Services Inc. is adding its support to an effort launched December 15th by 11 nonprofit debt relief providers seeking more aggressive enforcement of the Federal Trade Commission’s recently amended Telemarketing Sales Rules. However, the ... Read More »

              Minnesota Sues TaxMasters Claiming Fraud and Deception

              Ready to Collapse

              Minnesotta Attorney General Lori Swanson today file suit against TaxMasters, a tax debt relief company. The suit allegedly states that TaxMasters used deceptive and misleading advertisements and commercials to attract consumers into large up-front fees for debt relief services, paying upwards of $8,000. The suit is said to claim the TaxMasters salespeople encouraged consumers to pay the steep fees on ... Read More »

                Debt Free League Launches FreeBankruptcyTest.com With Attack on Credit Counseling

                FreeBankruptcyTest.com Site Page 1

                Apparently the lads over at Debt Free League, who I’ve written about before, have launched a new website with a big press release. The site is FreeBankruptcyTest.com and claims “The company’s site, FreeBankrutcytest.com helps the public to freely compare debt relief choices, including bankruptcy, debt negotiation, debt consolidation, tax settlement, and student loan consolidation.” Just one problem, it does not ... Read More »

                  US Credit Card Hardship Benefits Mailer – Bogus and Deceptive

                  US Credit Card Hardship Benefits

                  Another fantabulous tipster (send in your tips here) sent in the following scanned copy of yet another government looking self-mailer that sells debt relief services. This one is for the 2010 US Credit Card Hardship Benefits program. As you can see it purports to be an official looking government form with form number 10-PNH3. It states that the pending hardship ... Read More »

                    Credit Counseling Agencies Challenge FTC to Take Agressive Action Against Debt Settlement Companies for Violating Telemarketing Sales Rules

                    The following letter was sent to the Federal Trade Commission: December 13, 2010 Federal Trade Commission Office of the Secretary Room H-135 (Annex T) 600 Pennsylvania Ave, NW Washington, DC 20580 Re: Debt Settlement Company Evasion of Amendments to TSR Dear Commissioners, We are writing to speak out against the deceptive tactics employed by a growing number of debt settlement ... Read More »

                      Credit Counseling Groups in the Crosshairs With Pay For Performance History

                      This comes straight from a tipster (send in your tips here) who directed me to the site of Cotchett, Pitre & McCarthy. I reached out to CPM for additional information but as of the time of publication I had not heard back. Cotchett, Pitre & McCarthy is continuing its investigation into fraudulent “debt counseling” and debt collections in the subprime ... Read More »

                        Goooood Mooooorning….Potential Affiliates. The Attorney Network.

                        The Attorney Network-1

                        An awesome tipster (send in your tips here) sent this to me recently. What’s your take on this not being fee splitting or landing people into trouble? I was intrigued by the statement: 3rd Party Debt Buyer takes the chance by re-writing the clients loan without even having to have the credit to qualify (Basically giving the client the chance ... Read More »

                          Maryland Tries for a Fourth Time to Pass Debt Settlement Regulation

                          Ready to Collapse

                          Maryland legislators for the fourth year in a row will consider regulating debt settlements, and new recommendations in a report out this month may be the charm. In Maryland, legislators have tried three times to regulate the industry. Sen. Thomas “Mac” Middleton, chairman of the Finance Committee, says his committee requested a study before the next session begins in January. ... Read More »

                            Offering Any Debt Relief Services in Florida? Pay Attention. Telemarketer Arrested.

                            Ready to Collapse

                            Florida Agriculture and Consumer Services Commissioner Charles Bronson has announced the arrest of a Lee County man for falsifying information on a state document that telemarketers are required to submit. 38 year old Jose A. Negron was charged with two 3rd degree felonies for falsification of a telephone salesperson application. The department regulates telemarketers and state law requires them to ... Read More »

                              Tipster Wants to Know About Trinity Affiliate Management

                              I got a question from a tipster (send in your tips here) asking me about debtsettlementprocessingnow.com. I had never visited the site before [quicktime]http://getoutofdebt.org/wp-content/uploads/TrinityAffiliateManagement-20101213.mov[/quicktime] As of the last public listing of domain ownership, 9-17-2009, the domain was registered to: Trinity Debt Group 1180 Lincoln Ave Suite 1 Holbrook, NY 11741 A Google search of the address above now lists it ... Read More »

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