Home > Tag Archives: debt settlement (page 11)

Tag Archives: debt settlement

Debt Settlement Companies and Associations Hiring Washington Lobbyists to Persuade Congress

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An article in The Hill talks about how the Debt Settlement industry is now hiring lobbyists to meet with members of Congress in order to make their case to continue to exist. Many states and the Federal Trade Commission have reloaded their regulatory shotguns and taken aim at rogue debt settlement companies in the past few years in hopes of ... Read More »

    Debt Settlement Company Success Rate Made Public – Sucks

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    Nationwide Asset Services, a company under investigation by the New York Attorney General, has disclosed that while Nationwide Asset Services promised consumers debt reductions of between 25 to 45 percent, in fact only 64 customers out of 1,981 actually completed the debt settlement plan. This means that 97% of people that enrolled in the debt settlement program not only did ... Read More »

      Christian Credit Counselor Tells Us to Go to CCCS or Debt Settlement Instead. – Shelly

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      Shelly “Dear Steve, I lost my job in 2005 and for a year and a half, we lived on one income (with a little extra from my part time jobs) on a two income budget. We used credit cards to help us during this time. Although I am now working full time, all we manage to do is make minimum ... Read More »

        I Have $95,000 in Credit Card Debt and Can’t Make the Minimum Payments. – Kevin

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        Kevin “Dear Steve, I’m presently current on all of my credit card debt (nearly $95,000), but life’s circumstances are making it extremely difficult to pay the minimum payments and I am not making any headway with my debt. I’m considering one of the many debt settlement companies out there and wondering if you know much about New Era Debt Settlement ... Read More »

          Professional Journalist Really Blows This Debt Settlement Story

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          CNBC produced a story by Trish Regan that was full of misleading statements and came across that debt settlement was not a problem, without ever mentioning the tax consequences or that debt settlement companies are under investigation. The story claims that an NFCC agency, ClearPoint Financial Solutions was able to get Providian to settle the debt for less. There is ... Read More »

            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 »

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