A reader forwarded me a copy of this document from the State of Colorado regarding debt settlement. It contains some interesting sections. For example there is this one. Recommendation 2 – Limit settlement fees to 15 percent of the debt forgiven from a completed settlement. “A Settlement Provider negotiates with a creditor to convince it …
A tipster (send in your tips here) alerted me to the fact the State of Colorado is now reporting that as of July 1, 2013 Freedom Debt Relief has had their license cancelled or revoked and reports a disciplinary action. Apparently, Freedom is no longer allowed to enroll new Colorado clients, or collect fees from …
A reader and tipster (send in your tips here) sent in a current list of debt management companies that are registered to offer debt management services. What surprised me in looking over the list was how few registrations there actually were, in the past 16 months, since January 1, 2011. The list of providers says …
Bradley Stark, the fraudster defendant who represented himself at trail was convicted by a federal jury for deceiving investors about an investment scheme that involved more than 200 victims and more than $14 million. Following Stark’s five-day trial he has been convicted on all counts of an indictment charging him with seven counts of wire …
Colorado Attorney General John Suthers announced yesterday that attorneys from his office have reached an agreement with a Dallas, Texas-based payday lender, Payday Everyday of Colorado, to settle issues involving the company’s repeated failure to comply with state-ordered corrective actions since 2009. Under the final agency order, filed by the office’s Uniform Consumer Credit Code …
I previously wrote an article The Truth About The Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy. Some people scoffed at my findings and said they could not possibly be true, but they are. Fewer than 10 percent of consumers completed their agreements with Colorado debt-settlement and credit-counseling companies, by either …