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Why Most Debt Settlement Companies and Credit Counselors are Bad Medicine

A couple of years ago I wrote an article asking, pleading really, for any debt settlement company (DSC) to explain to me how they could ever possibly “do whatever is in the best interests of the consumer” when they are unable to give any legal advice in what are inherently legal matters. For example, as … Read more

I’ve Never Been Late But I Can’t Afford the Minimum Payments. – Ted

Ted “Dear Steve, I owe about $50,000 on credit cards I am current and have never been late on a payment. I make the minimum payment that is all I can afford. I need some breathing room and I could pay more on each card. But there is no breathing room. I have looked into … Read more

Debt Settlement Companies in for a World of Hurt in the U.S.

Debt settlement companies in the United States had better brace for some interesting times, and not good times for them. The Attorney General of New York recently issued subpoenas to fourteen debt settlement companies, not in an interest to learn more about them, but to give him the evidence he need to close down the … Read more

Debt RX USA Debt Settlement Company Consumer Complaint

Update August 28, 2019 I received the following statement to add from Davis Frank of DebtRx. He wanted people to understand this post was not about the current company DebtRx He said, “This complaint is Not against DebtRx. It is against a different, unrelated, company which added the word USA to their name.” DebtRx and … Read more

Debt Settlement Companies. Prepare to Get Slaughtered.

The debt settlement industry is exploding. Some say that many of these new companies are being run by failed mortgage brokers that want to get into the business. I don’t know about that but certainly there is a wave of opportunism evidenced by the exploding debt settlement industry. The sad thing about this is that … Read more

Consumer Reports Debt Settlement Article to Come

A little birdie in the wind told me that Consumer Reports is working on an article that involves debt settlement services. This person said they got the impression that the article was going to not be supportive of debt settlement companies, and in many ways, that’s a shame. Settling your debts for less that you … Read more

Diane Writes In “I Want to Settle My Debt. My Creditor Wants to Take Me to Court.”

Diane wrote to me at the GetOutOfDebt.org site and asked for help with her debt situation. You can write me too if you need help. Here is what Diane said: “Dear Steve, I have signed up with New Beginnings to get out of debt. I have paid them for two months so far and have … Read more