Collections & Credit Risk is reporting the State of Massachusetts is a step closer to regulate for-profit debt settlement companies operating in the state. Debt settlement companies would have to disclose their fees and create a budget analysis before enrolling consumers. “The longer Massachusetts waits, choosing not to oversee this industry, the more consumers will …
Here is a copy of testimony that was presented in California today to support a debt settlement fee cap at 15% of savings. 20 April 2011 The Honorable Ellen Corbett
Senate JUDICIARY COMMITTEE 
 State Capitol, Room 2187 
Sacramento, CA 95814 RE: SB 708 (Corbett) – Support Dear Senator Ellen Corbett: On behalf of U.S. Debt …
I had a very interesting conversation with a debt settlement insider that mentioned how many debt settlement companies he talks to that hate me for what I write. Yea, I’m not losing sleep over that. I made the following podcast of this article so you could enjoy it with background music. Debt Settlement Does Not …
I was just checking on the status of California Assembly Bill 350 and found that it is still in process and was amended in the Senate on June 14, 2010. You will find the latest draft below. I can always use your help. If you have a tip or information you want to share, you …
It’s really not all that tough to comply but debt settlement and other credit repair and debt relief companies will need to register and obtain the bond before doing business in Indiana. Here is a link to the latest version of the law so helpfully provided by Pamela Fratini, Esq. in her letter to me. …
With all the pushing and pulling from the debt settlement industry, TASC, and USOBA over their enthusiastic laments about the debt settlement industry does not need regulation or advance fee bans, one critical point is lost on all, this is an absolutely easy problem to fix. The Current Problem: Consumers languish for years in debt …
Here is the text of HR 5387 that was proposed in the House of Representatives. HR 5387 IH 111th CONGRESS 2d Session H. R. 5387 To amend the Consumer Credit Protection Act to provide for regulation of debt settlement services, and for other purposes. IN THE HOUSE OF REPRESENTATIVES May 25, 2010 Mr. GUTIERREZ (for …
I don’t have the text of the bill yet but HR 5387 was referred to the House Committee on Financial Services on May 25, 2010. The bill amends the Consumer Credit Protection Act to provide for regulation of debt settlement services. The sponsor of the bill is Rep. Luis Guiterrez, IV of IL and cosponsors …
It’s May 21, 2010 and in a move that only seems to amplify the arrogance of the party makers in the debt settlement industry, that appear to be no more than profiteers charging consumers tens of thousands of dollars for debt settlement service that are questionably effective and dubiously successful, it’s back to business as …
May 14, 2009 Here is an recent email that was sent to me at click here that is reported to be sent out by The Association of Settlement Companies to members to try to defeat the Debt Settlement Consumer Protection Act. Three things struck me. To label the bill as anti-consumer is not helpful. There …