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Loeb & Loeb to Debt Settlement Industry, Loopholes or Nooses: Be Careful Where You Stick Your Neck

Loeb-Bundled

Apparently the law firm of Loeb & Loeb put out a presentation recently to provide some last minute guidance to the debt settlement industry. You’ve got to love the title, “Loopholes or Nooses: Be Careful Where You Stick Your Neck” On the subject of selling bundled products with debt settlement services in order to increase income. On the issue about ... Read More »

    CreditAnswers Sued by Employee for Unpaid Wages

    In what is looking like an ongoing wave of suits against debt settlement companies by employees for unpaid wages, the latest to be sued was Credit Answers in Texas. Other debt relief companies sued include Lloyd Ward Law Firm, ABC Debt Relief, and Credit Solutions of America. Defendant is a debt settlement company doing business in Texas. Plaintiff was employed ... Read More »

      Johnson Law Group Disbursements Show Picture of Massive Marketing Fees

      JLG Disbursements

      After I published this article yesterday on the bankruptcy of the debt settlement law firm Johnson Law Group in Nevada it was pointed out to me that there was more to tell from the supporting schedules attached. – Source. And the tip was correct. The court documents revel how much money was disbursed by the Johnson Law Group in the ... Read More »

        Johnson Law Group Nevada Forced Into Bankruptcy

        The Johnson Law Group in Nevada previously was forced into an involuntary bankruptcy on June29, 2010. Just recently they have finally submitted financial statements and details which help to give us a clearer picture of what is going on. According to a document filed on July of 2010 the story of what happened to the Johnson Law Group is reveled. ... Read More »

          Debt Relief Attorney Settles With New Jersey. So Does Paramount Debt Settlement USA, New Day Financial Solutions, American Credit Repair and Settlement, and American Financial Advocacy Council.

          Ready to Collapse

          Attorney General Paula T. Dow announced October 18, 2010 that the owner of several New Jersey loan modification companies has agreed to pay the state $805,000 and stay out of the foreclosure rescue business to resolve allegations he defrauded struggling homeowners who sought help in staving off foreclosure. Defendant Stephen Pasch of Greenbrook Township, Somerset County, agreed to a judgment ... Read More »

            Consumer Recovery Network Taking on Abandoned Debt Settlement Clients for Significantly Reduced Rate

            I just spoke to Michael Bovee from Consumer Recovery Network (CRN). Michael is concerned that consumers may be abandoned by debt settlement companies that will go out of business. I was told that one debt settlement trade association recently commented they’ve lost 35% of their members so far and the October 27, 2010 implementation date for the new FTC telemarketing ... Read More »

              FBL Associates and Evan Kagan, Esq. The Battle Continues. Majority of Surveys Say Clients Feel Misled.

              FBL Investigation Survey

              One of the allegations in the ongoing battle between debt relief providers Frank Linder, Esq. of FBL Associates and Evan Kagan, Esq. is the allegation that customer data was stolen from FBL Associates and utilized by the offices of Kagan to persuade clients to leave FBL and join Kagan.. For a number of months I’ve been hearing rumors that the ... Read More »

                Frank Linder, Esq. Sends In Additional Supporting Documentation Regarding Alleged Raid Against Evan Kagan, Esq. Kagan Responds.

                Exhibit1-FBL

                In a situation that is one of the strangest I’ve seen in the debt relief world, two debt relief groups are going nose-to-nose with allegations and denials of raids and malfeasance. I first reported this story here but new information and supporting documentation has been submitted by Frank Linder, Esq. of FBL Associates. UPDATE: See response from Evan Kagan, Esq. ... Read More »

                  Anyone Interested In a Meeting of Consumer Focused Debt Settlement Companies?

                  Ready to Collapse

                  Following up on a comment on this other story, I’m just doing a quick poll if the debt settlement companies that consider themselves to be consumer focused and want to comply with the new rules are interested in me holding and moderating a meeting to let those companies get to know each other. As I said in my comment on ... Read More »

                    FBL Associates Claims They Help Police Raid Debt Relief Office of Attorney Evan Kagan. Kagan Denies Allegation.

                    Ready to Collapse

                    This statement was just posted by a commenter who either has a contact inside FBL Associates or is with FBL Associates. I have reached out to FBL Associates and Evan Kagan for comment but have not heard back by the time this was posted. UPDATE: See rebuttal statement below from Evan Kagan Esq., saying it is untrue. UPADTE: See short ... Read More »

                      My Interview With Alex Viecco of New Era Debt Solutions After They Resigned From TASC

                      I just got off the phone with Alex Viecco, the VP and Co-Founder of New Era Debt Solutions. He and the President of New Era, Dan Smith, just recently attended the debt settlement leadership conference in Las Vegas where it seems the topic of discussion was how debt settlement companies could best get around the new FTC telemarketing sales rules ... Read More »

                        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 »

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