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Debt Relief Industry

My Highlighted Copy of the FTC Mortgage Assistance Relief Services Rules

Recently the FTC passed new rules to protect consumers from deceptive mortgage relief providers who claim that for compensation they can help save a home from foreclosure or modify a mortgage. Below you will find a link to the final rule issued by the FTC with my highlights of what I felt was most important in the rule. FEDERAL TRADE ... Read More »

    Tipster Wonders, How Does Legal Helpers Debt Resolution Avoid Legal Fee Splitting?

    Thanks to all the great readers, I get the most amazing tip emails and items. Today I received one from a reader who raised some interesting questions. The folks at Legal Helpers Debt Resolution seem to be a very smart group of people but the tipster (send in your tips here) and others have concerns about their model. The issue ... Read More »

      Peachtree Settlement Funding – Debt Relief Television Commercial

      Ready to Collapse

      Commercial Name: Peachtree Settlement Funding Record Date: 11-15-2010 Network/Channel: Jerry Springer Description: Encourages people that need cash now to pay bills, save home or makes ends meet, to cash in their annuity or structured settlement. 800-706-4308 [quicktime]http://getoutofdebt.org/member/video/PeachtreeSettlementFunding-20101115.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 ... Read More »

        CardWoo – Debt Relief Television Commercial

        Ready to Collapse

        Commercial Name: CardWoo Record Date: 11-22-2010 Network/Channel: Access Hollywood Description: CardWoo is a service that wants you to sell you unused gift card to them and offers unused gift cards for sale. 800-978-0709 [quicktime]http://getoutofdebt.org/member/video/CardWoo-20101122.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 ... Read More »

          Wites & Kapetan Client Agreement for Debt Settlement Services

          W&K POA

          A tipster (send in your tips here) sent me the following client agreement for Wites & Kapetan for debt relief services. See below. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? I can always use your help. If you have a tip or information you want to share, you can get it to me confidentially if ... Read More »

            Rally in Raleigh 2010 – Video of Session on the Telemarketing Sales Rule With Allison Brown, FTC

            Ready to Collapse

            On November 13, 2010 we held the Rally in Raleigh, a meeting of debt relief professionals. At the meting we talked about a number of issues. Below you will find the video of the 3:00 p.m. session with Allison Brown from the Federal Trade Commission. The agenda: 10:00 – 10:30 Welcome and Who’s Here. 10:30 – Noon – Is There ... Read More »

              FTC Announces New Advanced Fee Ban for Mortgage Assistance Relief Services

              Homeowners will be protected by a new Federal Trade Commission rule that bans providers of mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they decide is acceptable. “At a time when many Americans are struggling to pay their mortgages, peddlers of so-called mortgage relief services have ... Read More »

                Legal Helpers Debt Resolution Mailer

                Legal Helpers Debt Resolution Letter

                An awesome tipster (send in your tips here) just sent me a copy of the following letter received by a consumer that was being solicited for debt settlement services. What would be intriguing to find out is how they received the consumer name and mailing address. On this previous post a commenter said according to Florida Bar rules “Lawfirms and ... Read More »

                  Let’s Play Do They Comply – CreditCard-Debt.us.com

                  CreditCard-Debt.us.com

                  A tipster (send in your tips here) brought the following site to my attention, CreditCard-Debt.us.com. The tipster (send in your tips here) said: Who is buying leads from this company? They are clearly lead gen based. They may be selling leads to companies that are not aware of what they are saying to a consumer to have them fill out ... Read More »

                    Attorney Model Debt Settlement Companies, Affiliates, and Marketers are Not Going to Like What’s Coming From the FTC

                    Reserved

                    This past weekend I held a meeting titled the “Rally in Raleigh” where a number of debt relief companies, and some guest regulators got together to talk openly and honestly about the current state of the debt relief industry. We wound up focusing more on debt settlement since it is a subset of the debt relief industry that is going ... Read More »

                      The US Credit Card Relief Plan of 2010 – Deceptive Mailer

                      2010 US Credit Card Hardsjip Mailer - Cover

                      I’d like to give a big hat tip to USOBA for sending me the mailer below that a consumer received. It is entirely deceptive and consumers need to be warned to watch for this in their mail. As you can see from the cover of the mailer it appears to contain information about the recipients Visa or MasterCard account. It ... Read More »

                        Court Slams the Door on Ring of Debt Relief Providers Violating Telemarketing Sales Rules

                        Ready to Collapse

                        At the request of the Federal Trade Commission, a federal district court in Chicago has shut down an international robocall ring that allegedly conned consumers out of $995 each with false promises that it would reduce their credit card interest rates, but provided little or nothing in return. As part of its crackdown on frauds that seek to take advantage ... Read More »

                          Rally in Raleigh Quick Video Recap

                          Ready to Collapse

                          While we are busy working on the footage fro the Rally in Raleigh on November 13, 2010, we were able to put together this quick recap. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? I can always use your help. If you have a tip or information you want to share, you can get it to ... Read More »

                            Ohio Sues National Homeownership Assistance Foundation, American Debt Relief Foundation, and VA Payment Reduction Notification

                            OH Complaints

                            According to the Dayton Daily News and Randy Tucker, Ohio Attorney General Richard Cordray is going after some bad actor mortgage modification companies. Cordray is seeking civil penalties and restitution for homeowners who paid an average $2,500 up front to have their mortgages modified to reduce payments. Three interrelated companies are at the center of the most recent spate of ... Read More »

                              The Rally in Raleigh November, 2010. Aftermath.

                              Rally in Raleigh-3343

                              This past weekend my first ever Rally in Raleigh was held in order to bring together members of the debt relief industry to try to engage in a conversation on how to make the debt relief industry a safer and better place for consumers. Alex Viecco from New Era Debt Solutions offering some feedback as everyone listens. The following people ... Read More »

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