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Tag Archives: debt settlement

New York Times: Debt Settlement Industry is Nervous

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If you are interested in the comings and goings of the debt settlement industry I think you’ll find the artcile in the New York Times titled “The Debt Settlement Industry Is Busy, but It’s a Bit Nervous, Too“, interesting. Noting “the legal firestorm that has subsumed the debt settlement industry” in recent years, Jeffrey Tenenbaum, a lawyer representing dozens of ... Read More »

    Dallas Based Debt Settlement Company Issues Press Release With Jaw Dropping Statements

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    I was just reading a press release issued by a Dallas, TX based debt settlement company. I’m not going to publish the whole thing here but this section actually made my jaw drop when I read it. “I have worked for a bankruptcy attorney for 13 years consulting consumers about chapter 7 and chapter 13 bankruptcies. It is plain and ... Read More »

      Debt Settlement Companies May Not Be Paid For Services Not Yet Delivered Says MO AG

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      Missouri Attorney General Chris Koster has filed suit against a company that advertised to consumers it could get people out of credit-card debt and lower their monthly payments, but did not deliver the services it promised. Koster said the company, Credit Solutions of America in Richardson, Texas, marketed to Missourians that it could reduce their payments by fifty percent, lower ... Read More »

        Expert Testimony Worth Reading on H.R. 2309 the Consumer Credit Protection Act (Debt Settlement Industry Regulation)

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        The Consumer Credit and Protection Act was recently introduced in the House of Representatives to specifically address issues in some industries, including debt settlement. As boring as it sounds, I was actually reading the testimony of the expert witnesses at the recent committee meeting on the bill and found the segment below to be of specific interest. It appears that ... Read More »

          I’m Thinking of Using Debt Settlement to Clear Our American Express Debt. – Lynn

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          “Dear Steve, A move from California to Texas (and a pay cut… though cost of living decreased, credit card bills/car loans did not!) is putting us in financial strain. We just had our second child and I am still paying on the medical bills 3 months later. We’re not yet *behind* on anything, but one of our bills is really ... Read More »

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

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            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 industry. Seriously, New York has ... Read More »

              I’m Doing Debt Settlement and Getting Sued by Chase Bank. – Darlene

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              Darlene “Dear Steve, My husband and I have a judgement against us from Chase for $5200. Our debt settlement company said they would answer the summons for us. The lawyer from Chase said they don’t work with debt settlement. We told them we didn’t have the money to pay (may be losing our home). The next thing we know we ... Read More »

                Consumer Debt Options Threatened: “Consumer are the losers with a debt settlement industry in crisis.”

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                Press release just out from New Era Debt Solutions. A whole lot of commonsense and truth in this release. Good job guys. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Get Out of Debt Guy – Twitter, G+, Facebook CONSUMER DEBT OPTIONS THREATENED “Consumers are the losers with a debt settlement industry in crisis.” People today ... Read More »

                  Guest Post – Consequences of Debt Settlement

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                  The following is a guest post. The opinions expressed are those of the author, not necessarily mine. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? Get Out of Debt Guy – Twitter, G+, Facebook The following guest post is by Cole Collins. Cole is a professional in the field of bankruptcy and debt settlement. He was ... Read More »

                    I Panicked and Called a Debt Reduction Company. I’m Afraid I’ve Walked Into a Scam. – Megan

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                    Megan “Dear Steve, My husband and I currently have around 10-12,000 in credit card debt and medical bills. About 2 years ago, after our 2nd child was born we became unable to make the minimum payments on the credit cards (about 10 different credit cards) and we have also been unable to pay the medical bills from our son’s birth ... Read More »

                      Debt Settlement Companies. Prepare to Get Slaughtered.

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                      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 as the market gets flooded ... Read More »

                        How Can I Cut My Debt in Half. – Jean

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                        Jean “Dear Steve, I recently moved all my credit card debt to one Credit Card. I canceled card and have a interest rate at 6% with a total of 23000,00 credit card debt. My monthly payments are 500.00 for how ever long. Im current on my payments but with my hours cut back at work Im starting to fall behind. ... Read More »

                          I’m Looking For Debt Relief Solutions. – Kathy

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                          Kathy “Dear Steve, We have credit card debt and an unsecured loan, they total $25,000. I looked at several debt relief places including a law office. I want to partially retire in 2 years because I have a disability and it is very hard for me to work full time. My husband was out of work for 18 months and ... Read More »

                            Fourteen Questions to Ask Any Debt Settlement Agency

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                            I came across these questions below on a debt settlement company site, New Era Debt Solutions, and I was really impressed that they were really open and honest about the problems consumers face with debt settlement and what to watch out for. So, with permission, I present to you the Fourteen Questions to Ask Any Debt Settlement Agency from the ... Read More »

                              My Credit Card Companies Refuse to Settle My Debt. – Peter

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                              “Dear Steve, I owe about $50,000 in cc fees- I went two months behind on payments on purpose becasue they would not settle with me before that. I am offering them 35 on the dollar as a one time payment only if they settle- it’s all I have but I do have that. I am leaving the country FOR GOOD ... Read More »

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