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Debt Relief Industry

Minnesota Sues TaxMasters Claiming Fraud and Deception

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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

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              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.

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                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 »

                    Preferred Financial Solutions, CCR Now, Credit Card Relief Claims to be Attorney Debt Settlement Firm

                    As part of my project to capture debt relief television marketing claims I captured the video below which claims to be the debt settlement industry leader and the only true attorney driven national mediation debt settlement law firm program in the country. [quicktime]http://getoutofdebt.org/member/video/CreditCardRelief-20101210.mov[/quicktime] So I called the number in the commercial, 800-936-1263 and it was answered by a representative that ... Read More »

                      Robert Lock, Esq Facing Being Disbarred for Debt Relief Activities

                      Well it looks like yet another attorney is on the verge of being disbarred for debt relief activities. This time it is Robert Lock, Esq from CCDN. His debt validation activities and sharing fees for referrals with non-lawyers is a critical part of the action against him by the Illinois Attorney Disciplinary Commission. BEFORE THE HEARING BOARD OF THE ILLINOIS ... Read More »

                        Credit Card Relief, Inc. – Debt Relief Television Commercial

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                        Commercial Name: Credit Card Relief Attorney Debt Settlement Record Date: 12-10-2010 Network/Channel: CNBC Description: The commercial makes claims that it is for an attorney driven national law firm but after researching the company behind the commercial and the one that receives the calls from the commercial, they are not. They are in fact Preferred Financial Solutions, Inc., Credit Card Relief, ... Read More »

                          US Legal Services Group Contract Raises Some Real Concerns for Consumers

                          uslsgroup.com

                          Recently a tipster (send in your tips here) passed a consumer contract for debt relief services from US Legal Services Group (uslsgroup.com) According to the US Legal Group website they resolve consumer debt problems and they work with financially distressed consumers. They indicate they have attorneys in the following states. As part of the site they provide a number of ... Read More »

                            Do They Comply? Consumers Debt Services Says Debt Settlement Let’s You Stop Making Payments Right Now – Legally!

                            A wonderful site tipster (send in your tips here) brought the site for Consumer Debt Services to my attention. The heading appeared that by enrolling in their CDS Debt Reduction Program that consumers would be able to “Stop making Payments Right Now – legally!” After taking a quick look around the site, this jumped out at me on the second ... Read More »

                              Attorney Needs Help With Debt Lawyers of America, Debt Arbitrators of America, and Financial Crisis 180.

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                              I received the following request for assistance from an attorney who is representing a consumer. I suggested to the attorney they readers of this site have a lot of information and are very resourceful and might have information to post in the comments to assist the attorney. The Attorney Asks… My client paid $Xfor 12 months and is only getting ... Read More »

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