ABC 7 Runs Story on Big Crackdown on Debt Relief Companies

WXYZ just ran a story warning warning consumers to beware of debt settlement companies that charge fees. It was yet another public notification that things in the debt settlement world when it comes to fees are going to change on October 27, 2010. The more that message can get out there, the better. As more … Read more

I Talked to GreenShield FS In Texas Recently But Still Not Sure. – Dave

“Dear Steve, I have a lot of unsecured credit card debt (around $70,000). I hear about debt relief, debt settlement, debt reduction companies all the time, but it seems most are not very good. I gert the feeling that most clients are NOT happy with the debt relief companies they are using. 1). Are there … Read more

Debt Settlement Legislation to Prohibit Up-Front or Monthly Fees and Cap Fees at 5%

Illinois Attorney General Lisa Madigan is backing legislation to ban debt-settlement companies from charging upfront or monthly fees and that caps payments to firms promising to reduce credit card debt. The legislation would cap fees at 5 percent of the savings resulting from settling a debt, rather than a percentage of debt enrolled. It also … Read more

I Am Scared, Sad, and Confused About Staying in the Debt Settlement Program With Freedom Financial. – Sandra

“Dear Steve, I emailed you yesterday and was not very clear about my situation. I would like to start by saying I am scared,confused and feel like I made the wrong decision when I chose to go the debt settlemnt route-especially now with everything I am reading. At the end of December I contacted Freedom … Read more

Debt Settlement Companies Watch Out. Debt Settlement Talks Getting Serious Now About Banning Up-Front Fees.

Missouri Attorney General Chris Koster will meet with both Secretary of the Treasury Tim Geithner and Attorney General Eric Holder in Washington, D.C. to discuss Missouri’s efforts to pursue businesses engaged in mortgage fraud. Geithner and Holder invited Koster and several other Attorneys General from around the nation to meet with them to discuss the … Read more