Wow. HomeStreet Bank and American Financial Solutions Don’t Seem to Understand Debt Settlement, At All

A reader brought my attention to a press release sent out by HomeStree Bank in Hawaii and the nonprofit credit counseling group American Financial Solutions. One thing is clear after I read the release is either those two companies don’t understand how debt settlement works at all or the person that wrote the press release … Read more

Credit Counseling Agencies Challenge FTC to Take Agressive Action Against Debt Settlement Companies for Violating Telemarketing Sales Rules

The following letter was sent to the Federal Trade Commission: December 13, 2010 Federal Trade Commission Office of the Secretary Room H-135 (Annex T) 600 Pennsylvania Ave, NW Washington, DC 20580 Re: Debt Settlement Company Evasion of Amendments to TSR Dear Commissioners, We are writing to speak out against the deceptive tactics employed by a … Read more

Credit Counseling Groups in the Crosshairs With Pay For Performance History

This comes straight from a tipster (send in your tips here) who directed me to the site of Cotchett, Pitre & McCarthy. I reached out to CPM for additional information but as of the time of publication I had not heard back. Cotchett, Pitre & McCarthy is continuing its investigation into fraudulent “debt counseling” and … Read more

I Think I Was Booted from American Financial Solutions But Can’t Figure Out Why. – Renee

“Dear Steve, I recently joined a DMP program through American Financial Solutions (myfinancialgoals.org) and after two days I received a letter from them stating that the agency is being cancelled due to the following reason: Credit Info Change. I really don’t understand what this means. It also stated that each creditor has their own policy … Read more