Legitimate Debt relief services are often boiled down to 3 categories, which include nonprofit credit counseling agencies, debt negotiators, and bankruptcy attorneys. I want to focus on the role of today’s credit counselors, and how they can fill a larger pair of shoes this year and beyond, with a keen focus on student debt. Student …
Now here is something you don’t get to witness often, if at all. Apparently there is a bit of disturbed blood milling about in the credit counseling world right now. In just doing some routine checking on activity I came across a very, very odd letter from the Association of Independent Consumer Credit Counseling Agencies …
Today I got an email from USA.gov that struck me. The email made it seem as if credit counseling could help rebuild credit. That a no-no for credit counseling to avoid or run afoul of the CRedit Repair Organizations Act. I’ve covered that here. The email USA.gov sent out linked only to National Foundation for …
This is a story that I’ve been working on for a few weeks. I’ve been asking people and groups for feedback and information to write this, but I’ve run into a wall. I have received some feedback from groups and people that don’t wish to be publicly identified to protect themselves, but what I have …
In what is another of the ultimate ironies of nonprofit charitable credit counseling, it appears that at least two trade associations feel nonprofit credit counselors should not have to participate in any national registration of debt relief companies with the Consumer Financial Protection Bureau. I must admit, the position against CFPB registration stumps me and …
A reader and tipster (send in your tips here) sent in some concern about the American Consumer Credit Counseling website that they wanted us to see. In light of the Federal Trade Commission Telemarketing Sales Rules that prohibit a number of misleading advertising practices, it is surprising that American Consumer Credit Counseling is making the …
The Association of Independent Consumer Credit Counseling Agencies (AICCCA) has their annual conference coming up in Washington, DC if anyone wants to attend. It’s July 20-22 at the flippin’ Four Seasons Hotel in D.C. Seriously, charitable dollars are being spent to hold a non-profit meeting at the luxury Four Seasons Hotel? And on top of …
Recently Christoper Viale, the president and CEO of Cambridge Credit Counseling, and I had a chance to talk about a number of issues that are important in the debt relief world today. You can read the full transcript of our conversation below. Some of the highlights are: Coming forward with actual credit counseling performance data …
Here is a copy of the letter that CareOne sent to the National Foundation for Credit Counseling yesterday asking them to comply with the new FTC telemarketing sales rules. Apparently both ACCPros and AICCCA received the same letter. August 31, 2010 Susan C. Keating President and CEO National Foundation for Credit Counseling 801 Roeder Road, …
Here is another letter sent to the FTC in support of banning advance fees for debt settlement programs. It is notable for it’s strong statements and its well documented footnotes. Comments of Michael Calhoun, President, of the Center for Responsible Lending to the Federal Trade Commission Notice of Proposed Rule-Making: Telemarketing Sales Rule Debt Relief …