California on Verge of Passing Debt Settlement Law That Protects Consumers

California is getting ready to pass AB-1405 titled “Fair Debt Settlement Practices Act.” Ironically, a number of settlement companies are located in California, Irvine in particular. Unless something magical happens the bill will pass. As it stands today, the bill has some serious consequences for settlement companies. This can be of no surprise to an … Read more

Are Debt Relief Mailers Like These in Your Mailbox Also?

Debt Relief Mailer Envelope

A reader that wanted to be identified as The Machine sent in the following statement and mailer they received through my I Buy Junk Mail program. The Machine said, “These are for both me and my wife. We have a large amount of credit card debit and get stuff like this ALL the time. It’s … Read more

Alleged Debt Negotiation Services Representative Yells at Widow Who Just Wants Her Money Back – Listen

Please read the update below from Debt Negotiation Services. They deserve praise for the way they handled this issue and dealt with assisting the consumer to resolve the issue. Update 11-26-2019 AM From AFCC The AFCC has acted instantly and has issued the following statement that I received from Robby Birnbaum. I applaud the AFCC … Read more

Credit Card Debt Mailer for S&N Debt Solutions Leads to Beyond Finance

I received the following mailer as part of my I Buy Junk Mail program. People with credit card debt are apparently being targeted with this mailer that contains a fake credit card in it. S&N Debt Solutions, who also identifies themselves in the mailer as the S&N Financial Solutions Consolidation Alternative, has sent this mailer … Read more

CRL Report Results in Silence From the Debt Relief Industry

The other day I published the debt settlement recommendation report from The Center for Responsible Lending (CRL), click here. As vocal as critics have been in attacking this site and myself for being outspoken about consumer unfriendly debt relief practices I felt certain people would have comments to offer about the CRL recommendations. But silence, … Read more

CRL Comes Out With Debt Settlement Warning. Is it Fair?

The Center for Responsible Lending just released a paper on debt settlement. Take a look at the information they published and add your comment below if you think their research is on the mark or way off base. It appears CRL relied upon data published by the American Fair Credit Council in making their determinations … Read more

Reader Want to Know if Performance Settlement Recruitment / Sales Claims are True

A reader and tipster (send in your tips here) in the debt settlement industry sent us an email they recently received from Performance Settlement, an AFCC member. The email made some recruiting performance claims that should be a snap for Performance Settlement to respond to and verify. This issue isn’t so much a consumer issue … Read more

AFCC Takes Some Action and Suspends Mission Settlement Agency

Yesterday I wrote an article that was critical of the AFCC for their lack of action against Mission Settlement Agency and Rescue One. I have to give them a pat on the back for doing something this time. The AFCC has taken a little bit of action and suspended Mission Settlement Agency as a member. … Read more

AFCC Current Member Criminally Charged in Debt Settlement Fraudulent Scheme

In what must certainly be a terrible embarrassment for the American Fair Credit Council, AFCC, one of their members was criminally indicted today by the Manhattan U.S. Attorney. According to documents released today, Mission Settlement Agency, Michael Levitis, and employees Denis Kurlyand, Boris Schulman, and Manuel Cruz have been criminally indicted for misrepresenting debt settlement … Read more

AFCC Releases Report Praising Debt Settlement But There Are Big Holes

The American Fair credit Council (AFCC) recently released a couple of documents they hoped would persuade people about the value of debt settlement. I was asked to review the findings in the documents and offer my opinion. The first presentation is one that was supposedly given to the Federal Trade Commission and Consumer Financial Protection … Read more

Debt Settlement Targets Ohio, Nearly Half Want to Skip Christmas, NY AG Sues Bank

Debt settlement companies lobbying Ohio for entry into the state Companies that charge up-front fees for working with consumers to settle tens of thousands of dollars in credit-card debt are pushing for a bill in the lame duck legislative session that would allow them to operate in Ohio. The “debt settlement” industry has been advocating … Read more

Rescue One Financial Still Sending Disturbing Mailer

Previously an alleged former employee of Rescue One Financial spoke out about a marketing practice that concerned them. See Alleged Former Employee Speaks Out About Rescue One Financial Loan Offers I expressed concern to both Freedom Debt Relief, who was getting referrals from this, and Rescue One Financial about the marketing mailer and specifically asked … Read more

AFCC Just as Peeved About Uninformed DOJ Position on Debt Settlement

On August 16th I wrote about a Department of Justice blog post about debt settlement that was, let’s politically say, perplexing. Ah what the hell, it was just plain old fucked up. The Department of Justice made some very uninformed statements about debt settlement, like “Fraudulent debt relief companies will often make claims of being … Read more

Alleged Former Employee Speaks Out About Rescue One Financial Loan Offers

A reader sent me a letter. Yes, one of those things that is printed on paper. In this letter the reader says they worked for Rescue One Financial and wanted to share information. The allegations made by the reader are disturbing. And if true, in my opinion, would paint a picture of premeditated deception on … Read more