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Regulation / Legislation

USOBA Responds to New FTC Rules. What the Hell is Wrong With USOBA?

Yesterday I wrote about a statement that The Association of Settlement Companies (USOBA) made about the new consumer protection rules passed by the Federal Trade Commission covering debt settlement companies. Now today the other trade association, United States Organizations for Bankruptcy Alternatives sends out their press release on the new rules. First off, I was crying with laughter when I ... Read More »

    TASC Does Not Seem to Get It. Quote Makes Me Question Their Version of Reality.

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    In an article on CreditCards.com, Dave Leuthold, the executive director of The Association of Settlement Companies (TASC) and the CEO of Century Negotiations, Inc. (CNI) is quoted as making the following statement. “We’re disappointed that the FTC came out with this ruling, especially with regards to the advance fee ban,” Leuthold said in a telephone interview. “It’s just a fact ... Read More »

      My Review of the New FTC 16 CFR Part 310 Telemarketing Sales Rule for Debt Relief Services

      I’m just now getting an opportunity to sit down with the entire 229 page FTC document and go through it. Overall the FTC appears to have placed little to no weight or credence on the testimony or supplied facts of the debt settlements trade associations of The Association of Settlement Companies (TASC) and the United States Organization of Bankruptcy Alternatives ... Read More »

        It’s a Game Changer – Initial Review of New Rules for Debt Relief Services, Advertisers, Marketers, and Providers

        New TSR Debt Relief Rules

        This assessment of the new debt relief industry rules from the Federal Trade Commission comes from my friends at the Venable law firm and is worth reading for their assessment. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? FTC Issues Final Rules for Debt Relief Services: Landmark Changes for Service Providers, Advertisers and Marketers of Debt ... Read More »

          Vice President Biden’s Comments and Pictures From the FTC Debt Relief TSR Press Conference July 29, 2010

          Below you will be able to hear my recording of Vice President Biden’s comments during the announcement of the new Federal Trade Commission Telemarketing Sales Rules that cover debt relief services. You can hear all of the photographers in the background, including me, and the audio in the room wasn’t all that loud so you will hear a lot of ... Read More »

            Debt Relief Services & the Telemarketing Sales Rules Announced July 29, 2010

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            Here is a guide on the Debt Relief Services & the Telemarketing Sales Rules to go into effect October 27, 2010. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Many Americans struggle to pay their credit card bills. Some turn to businesses offering “debt relief services” – for-profit companies that say they can renegotiate what consumers ... Read More »

              Interview with Allison Brown of the FTC on the New Debt Settlement Telemarketing Sales Rules

              After the press conference at the White House with Vice President Biden and FTC Chairman Jon Leibowitz I had a moment to catch up with Allison Brown of the FTC to talk for a minute about the impact of the new telemarketing sales rules and how it would impact companies. Allison told me also that the new telemarketing sales rules ... Read More »

                White House Press Conference July 29, 2010 – FTC Debt Relief TSR Announcement

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                This is the post to follow for all the news related to the press conference this afternoon at the White House regarding the announcement of the new telemarketing sales rules that cover debt settlement and debt relief providers. I’ll update this post with information as I can. The plan is after the press conference with VP Biden and the FTC ... Read More »

                  I’ll Be At the White House Press Briefing for the New FTC TSR Debt Relief Rules on July 29, 2010

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                  Watch this site for updates on the TSR press conference at the White House. I have my press pass so I’ll be going to the press conference and plan to post updates on the site as quickly as I can. For those that want real time updates I’d suggest you follow me on Twitter at @GetOutOfDebtGuy so you get it ... Read More »

                    Debt Settlement and Debt Relief Telemarketing Sales Rules to be Announced July 29, 2010

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                    FTC Chairman to Announce a New Debt Relief Rule to Protect Financially Distressed Consumers at Middle Class Task Force Event WASHINGTON – Tomorrow, Thursday, July 29th, at 1:30 PM ET, Federal Trade Commission Chairman Jon Leibowitz will announce a new rule to protect consumers of debt relief services at a Middle Class Task Force event at the White House. Following ... Read More »

                      What the Dodd-Frank Act: What It Means for Credit and Housing Counseling Agencies and Other Debt Relief Service Providers

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                      The following article was put out by the Venable law firm and is republished with permission of Jeff Tenenbaum, a rock star in debt relief compliance issues. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? President Obama ushered in a new era of regulation over credit counseling, housing counseling, and other debt relief services that will ... Read More »

                        The Critical Flaw in The Attorney Model for Debt Settlement

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                        It seems in the face of proposed regulation over the debt settlement industry many debt settlement companies are running for the hills and trying to convert their business into one of the many attorney models out there in order to continue their advance fee approach. The companies who are running for the attorney model cover seem to feel it will ... Read More »

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