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Debt Relief Industry

Face to Face Meeting Companies May Just Be Partners in Debt Settlement Deception

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A debt settlement company has forwarded me the following email pitch they received from a face-to-face meeting company. These companies are acting as agents of debt settlement companies in order “to satisfy the FTC’s face to face TSR exemption,” so some debt settlement companies can continue to collect large up-front fees from consumers. The Email Pitch Thank you for taking ... Read More »

    Credit Counseling IRS Non-Profit Status Revocations for 2010

    The IRS has revoked its determinations of the following organizations as described in sections 501(c)(3) and 170(c)(2) of the Code. Advanced Debt Management Solutions, Inc. of Tampa, FL American Family Credit Counseling of Peoria, AZ Apple Consumer Credit Counseling, Inc. of Lynebrook, NY California Consumer Credit of Los Angeles, CA Consumer Counseling Centers of America of Fort Lauderdale, FL Consumer ... Read More »

      I Bet Debt Solutions USA is Going to Be Contacted About This

      A recent comment on the site pointed out a Debt Settlement Scams website at debtsettlementscams.com. The site lists the following companies and says they are the subject of Attorney General investigations. Accelerated Debt Relief Aces Credit Solutions ADA Tampa Bay, also known as American Debt Arbitration, of Tampa Allegro Law Firm. American Debt Foundation Inc. American Financial Service Anquella Davis ... Read More »

        Debt Relief Company Uses Notaries to Meet With Consumers. Notaries Turn the Company In to Regulators.

        21st Century Legal Services, Inc. out of California, with 301 unanswered BBB complaints (source), has just agreed to pay almost $300,000 in fines to the state of Wisconsin as the result of a default judgment. What makes this case so interesting for other areas of debt relief services is that it used local notaries to make in-person visits to gather ... Read More »

          Florida Debt Relief Attorney Sanctioned for Illegal Fee Sharing

          According to Financial News & Daily Record out of Jacksonville the following Florida attorney was recently suspended for debt relief activities. April Ann Arendell, 5342 Lake Margaret Drive, Apt. 523, Orlando, suspended for 45 days, effective immediately, following an Oct. 12 court order. (Admitted to practice: 2006) Further, upon reinstatement, Arendell will be placed on probation for three years and ... Read More »

            Rally in Raleigh 2010 – Video of Session on How to Deal With State Regulators With Lynne Weaver, Assistant Attorney General, NC

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            Below you will find a video from our Rally in Raleigh meeting in North Carolina on November 13, 2010. Lynne Weaver from the North Carolina Attorney General office joined us to discuss why debt relief companies appear on the radar of regulators, how to best deal with regulators, how to work with regulators, what companies most often do wrong that ... Read More »

              Recommendations Released Today for Debt Settlement in Maryland

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              The Maryland Consumer Rights Coalition today released its recommendations for better regulation of the debt settlement industry. The recommendations are in conjunction with those from the Maryland Office of the Attorney General and the Maryland Office of the Commissioner of Financial Regulation, which MCRC feels do not go far enough. (Read report/recommendations here, including the story of a Marylander who ... Read More »

                Texas AG Returns $3.7 Million to Defunct Debt Relief USA Customers

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                The Texas Attorney General’s Office has obtained a court order disbursing $3.7 million to Texans and customers in other states who were defrauded by a now bankrupt debt relief firm. Court documents filed by the State indicate that Debt Relief USA Inc. unlawfully collected millions of dollars from Texans who hired the firm to settle their outstanding debts. Debt Relief ... Read More »

                  American Advisors Group – Debt Relief Television Commercial

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                  Commercial Name: American Advisors Group Record Date: 12-3-2010 Network/Channel: Retro TV Description: Commercial encourages people with tight finances over 62 to use a reverse mortgage to tackle their money problems. [quicktime]http://getoutofdebt.org/member/video/AmericanAdvisorGroup-20101203.mov[/quicktime] The debt relief commercial above is presented only as an example and archive of debt relief marketing and NOT AS AN ENDORSEMENT by this site. The commercial is archived ... Read More »

                    Interesting Connection Between Ameridebt, Debt.Com and Harborfields High School

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                    Just this morning I reported about the trials and tribulations of Stephen Todd Cook and Debt.com getting slammed by the FTC. Well thanks to a tipster (send in your tips here) it appears Cook has a long standing involvement in the debt relief world and it goes way back to Ameridebt and Infinity Resources Group, both of which were previously ... Read More »

                      FTC Action Shuts Down Debt Relief Robocallers Claiming to Lower Interest Rates

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                      At the Federal Trade Commission’s request, a U.S. district court has approved a settlement shutting down two groups of Florida-based telemarketers that allegedly flooded consumers with misleading pre-recorded robocalls falsely promising to reduce their credit card interest rates. The agency reached a settlement that permanently bans the two related operations from making robocalls and selling debt relief services. The settlement ... Read More »

                        What The FTC Claims Debt.com Did All Wrong and Why All Lead Generators Need to Pay Attention

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                        In order to learn lessons on what to avoid I wanted to take a close look at the statements by the Federal Trade Commission that they made in their recent complaint against Debt.com, Debt.com Marketing, Media Choice, 800 Credit Card Debt, and Stephen Todd Cook. From the Complaint Defendants are lead generators that target the millions of Americans who are ... Read More »

                          FTC Puts Debt Relief Business – Out of Business Because of Marketing Activities

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                          A deceptive advertising operation has been banned from the debt relief business under a settlement agreement with the Federal Trade Commission. As part of a continuing crackdown on scams that target consumers in financial distress, the FTC charged the defendants with deceptively claiming they could save consumers thousands of dollars by reducing their credit card debt. According to the FTC’s ... Read More »

                            National Debt Relief Initiative – Marketing Fakery. Shame on You Credit Answers.

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                            I see consumers are still asking me about mailers they are getting that look like official government documents and have a return address of: National Debt Relief Initiative PO Box 96503 #10680 Washington, DC 20090-6503. As you can see by the image below, the self sealing mailer certainly appears to be an official mailing by glancing at it. Putting “This ... Read More »

                              The Association of Settlement Companies (TASC) Makes Move That Will Eliminate Members

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                              The Association of Settlement Companies (TASC) has just made an announcement below that will result in a significant reduction in their membership. Read More »

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