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Debt Relief Industry

New Era Debt Solutions Tells TASC to Shove It After Attending Debt Settlement Conference

New Era Resignation Letter

New Era Debt Solutions has just notified TASC they have resigned from TASC, effective immediately, out of disgust of tactics. Click on image for larger view. It appears that whatever went on at the recent debt settlement leadership conference in Las Vegas stirred up enough of a bad taste in the mouth of New Era Debt Solutions that they have ... Read More »

    Let’s Play “Do They Comply” With Premier Debt Solvers

    Debt Relief America Ad

    Here is the ad I saw and I clicked on the chat button. The advertisement says Debt Relief America and they’ve been on Oprah, MSN, Today, CNN Money, and Yahoo. The company that answered the chat request was Premier Debt Solvers and they are the first company to play my new game, “Do They Comply?” I’m going to point out ... Read More »

      Promoters of Debt Elimination and Tax Relief Scheme Get Hard Jail Time

      A federal court in Pensacola, Fla., has sentenced three of nine promoters of a fraudulent tax-and-debt-elimination scheme to prison terms for their roles in tax fraud, wire fraud and money laundering, the Justice Department and Internal Revenue Service (IRS) announced today. Four others were sentenced in July to prison terms ranging from 5 to 12 years. The remaining two will ... Read More »

        Tax Debt Relief Industry Scrambles to Find Loophole in TSR Law

        In response to the Federal Trade Commission (FTC) actions, a coalition of tax debt relief industry leaders is planning to argue that tax debt is secure—so the law wouldn’t apply to them, according to e-mail evidence obtained by independent Web site easyIRS.com. Greensboro, NC (Vocus) October 12, 2010 The survival of many tax debt relief firms may hinge on the ... Read More »

          Life After Debt System. A Way for Debt Settlement Companies to Make Extra $$$.

          Life After Debt System Header

          A tipster (send in your tips here) sent me a copy of a recent email sent out by the United States Organization of Bankruptcy Alternatives (USOBA). The email to other USOBA members is promoting a package called Life After Debt with the message; The Life After Debt System is a consumer financial education package allowing debt settlement companies to receive ... Read More »

            What I Learned From Selling Debt Relief Services. What I Got Wrong and Right On the Front Lines.

            DebtChat

            I had this idea for an article to look back to my early days in the debt relief world, back when I was running Myvesta, a non-profit credit counseling group, and show you examples of what I did wrong and learned from the experience. The irony is people don’t realize when I review a site today and point of mistakes ... Read More »

              Florida Debt Relief Scammer Appears Pale in Jail Uniform

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                Is Tax Relief the Next Debt Relief Scam to Watch Out For? American Tax Relief Under Fire.

                In the news again is yet another tax relief company to find itself in hot water. American Tax Relief of Beverly Hills, California made claims that they could settle tax debt for pennies on the dollar. As big and scary as the Internal Revenue Service is, many jumped at the opportunity to make their debt somehow painlessly and magically disappear. ... Read More »

                  Cornerstone Financial Education DMP Service Agreement

                  A tipster (send in your tips here) sent in the following information and praises for a debt management plan provider, Cornerstone Financial Education, which is really iPayDebt Financial Services. I did a bit of checking and iPayDebt Financial Services is listed by the IRS as a charity and I have attached their last public tax return here. The tipster (send ... Read More »

                    Debt Settlement Fee Ban, Credit Counseling Wounded, Caller Question – The Get Out of Debt Guy Show

                    Get Out Of Debt Guy Show Logo - Final 300x300

                    Today we’ll be also talking about the impact the new fee ban for debt settlement services is going to have. We’ll also talk about changes that are impacting credit counseling and why people need to address their problem debt now before the economy improves too much. All that and a caller question on today’s show. Listen to Debt Settlement Fee ... Read More »

                      What Am I Missing in This Preferred Financial Services Affiliate Pitch? It Does Not Make Sense to Me.

                      PFS Home

                      A tipster (send in your tips here) brought the following page to my attention from the Preferred Financial Services site which says: The pitch seems to be to switch and become their affiliate and outsource all the back office stuff to them so you can “focus on front end operations.” But the charts show your overhead expenses remain the same ... Read More »

                        Marketer Settles FTC Charges That PayDay Loan Websites Were Unfair and Deceptive

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                        The technology officer of a payday loan marketer has agreed to pay $850,000 to settle FTC charges for his role in an allegedly deceptive and unfair scheme that allegedly debited the bank accounts of hundreds of thousands of cash-strapped consumers in violation of federal law. The FTC has been closely monitoring payday lending and other types of financial services as ... Read More »

                          Money Management International Settles Case for $6.5 Million to Avoid Allegations of Improper Credit Repair Services

                          I just had a long conversation with an inside party that told me about a massive settlement by the credit counseling company Money Management International to avoid further involvement in a suit that alleged they engaged in improper credit repair services through their debt management plans. This case seems to clearly go hand-in-hand with a recent ruling that could expose ... Read More »

                            Debt Settlement FTC TSR Ruling and Legal Model Informational Webinar by Tami Brown

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                            If anyone attends this webinar and wants to post a comment about what was discussed I’m sure we’d all love to hear what the compliant plan is. Read More »

                              Consumer Financial Protection Bureau In The Works But Don’t Expect Much Before July, 2011

                              CFPB Logo

                              Reuters is reporting recent comments by Treasury Secretary Geithner that have sent a clear signal that the new Consumer Financial Protection Bureau (CFPB) will not be active in enforcement actions until July, 2011. “It is fair to say that until that authority is transferred, which will not happen before July of 2011, and before there is a confirmed director in ... Read More »

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