A tipster (send in your tips here) sent me in a question: When you click on www.debtsettlementusa.com, Freedom debt relief comes up. Did Debtsettlements usa open under another name. I was ripped off by these peoples for a lot of money. One day they were there and the next they were gone. It appears the … Read more
Loyal readers may have observed that I routinely never mention IAPDA, the International Association of Professional Debt Arbitrators (IAPDA) or even mention that a company may display their logo as being a member. It’s not that I’ve not noticed their logo displayed on sites, it’s that many in the industry have disparaging things to say … Read more
I previously wrote about a press release from a different debt settlement company that used a quote from the Federal Trade Commission Chairman to support debt settlement. I debunked the comment by putting it into context. You can read “Good Example of Twisting Information in Favor of Debt Settlement“. Well I just found out that … Read more
Debt Settlement USA was nailed today on MSNBC as an alleged scam. Three years ago, Kopycinski was told by several advisers that he should file for bankruptcy. His finances were a wreck. He held $35,000 in credit card debt and was on the hook for a car loan that he’d co-signed for a family member. … Read more
Here is an interesting legal case that was filed on March 26,2010 against Debt Settlement USA. Former Debt Settlement USA clients, the Leber’s went bankrupt. The Chapter 7 trustee took a look at their situation and sued Debt Settlement USA claiming that Debt Settlement USA breached its contractual obligations to the Lebers’ and failed to … Read more
This is a guest post by Kenneth Long, President of Fiscal Progress. If you would like to submit a guest post for publication, just send me an email to [email protected] Steve On September 25, 2008 the Federal Trade Commission (FTC) held a public workshop to explore the for-profit debt settlement industry. Panelists representing debt settlement … Read more
My friend Damon Day recently did a contract review for a client of his who was tangled up with the debt settlement company, Debt Settlement USA. Damon’s review didn’t pull any punches and I thought his catch of the discrepancy in the fees charged and the time to complete the program was brilliant. When I … Read more
In a move that could be a very interesting trend setter, the state of Vermont has forced two debt settlement companies to refund all fees paid by state residents. While Vermont is a small state and not a whole lot of residents worked with these two companies, it is an interesting approach by a state … Read more
Subpoenas Fourteen Debt Settlement Companies and One Law Firm in Connection with Probe Debt Settlement Companies Often Charge Huge Fees for Misleading Plans, Suggest Selling Blood Plasma to Raise Funds, and Leave Consumers in Worse Financial Shape NEW YORK, NY (May 7, 2009) – Attorney General Andrew M. Cuomo today announced a nationwide investigation into … Read more