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Debt Relief Industry

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 »

                      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

                          Ready to Collapse

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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 »

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