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Tag Archives: debt settlement

Morgan Drexen and Some of the Consumer Complaints Against Them

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Under a Freedom of Information request a document was obtained which contains a number of complaints filed by consumers against Morgan Drexen, the Nevada and California based debt settlement enterprise. Morgan Drexen appears to be coming under an increasing level of scrutiny and has been the subject of a number of consumer complaints and lawsuits for services. – Source Of ... Read More »

    Is There Any Way to Settle Our Debts With AMEX and Beneficial? – Jennifer

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    “Dear Steve, We got ourselves into trouble with credit cards, espeically with our amex and a beneficial loan which are 18000.00 combined. Our other loans/credit cards are one for 2k, one for 1300.00 and one for 2400. the payments on the first two are killing us financially each month. Is there a way to negotiate with the creditors (mainly amex ... Read More »

      Bank of America Gave Me a Settlement Amount But They Keep Changing It. – Rob

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      “Dear Steve, I talked with Bank of America Credit card, they gave me a settlement amount, it was too much for me to pay immediately on the phone as requested. I sent them a check for the amount with a letter stating it was for the agreed amount for settlement etc. They cashed the check but never settled the amount ... Read More »

        Montana Couple Files Class Action Lawsuit Against Debt Settlement Company Morgan Drexen

        A Montana company has filed a class action lawsuit against the debt settlement company Morgan Drexen. Morgan Drexen is accused of violating racketeering laws and the Credit Repair Organizations Act. A newspaper article said: Morgan Drexen has “actively conspired’’ to avoid laws that apply to debt settlement companies and has “engaged in the unauthorized practice of law,’’ the complaint said. ... Read More »

          First American Debt Solutions Apparently Lying to Debtors to Scare Them

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          Bankruptcy attorney Dan Nunley in Oklahoma gets the credit for breaking this story. “It seems that a debt settlement company by the name of First American Debt Solutions (FADS) of Deerfield Beach, Florida, is mailing solicitation letters to Chapter 13 bankruptcy debtors across the USA. In the letter, FADS blatantly lies to the debtors by telling them that their Chapter ... Read More »

            I’m in a Debt Settlement Program and I’m Terrified. – Magen

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            Magen “Dear Steve, Seven months age-my husband and I signed up with Sierra Financial Solutions-a debt settlement company based out of CA. At the time we signed up-we were in a lot of credit card debt-around $45,000-but we were current on all of our payments-my husband got laid off in Aug 2008 and while we were lucky that he got ... Read More »

              Debt Settlement America, TASC, and Chris Kesterson, What’s That All About?

              Thanks to one of this sites readers who sent me a tip to tips@GetOutOfDebt.org I was told about a festive holiday press release from Debt Settlement America that was sent out. December 24, 2009 – Debt Settlement America (DSA) has offered a special gift to three families this holiday season by allowing them temporary deferments. A deferment means that the ... Read More »

                With Debt Rx USA I Have Had a Miserable Time and I Question Their Legitimacy. – Ralph

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                Ralph “Dear Steve, I am curious of your experience with Debt rx Usa. I have had an absolutely miserable time with them. In fact I don’t get the Jerry MaGuire approach at all, it’s more like a cork in the ocean feeling. I question the legitimacy of this group. In a nutshell, Since I have joined up with this “Company”, ... Read More »

                  Teresa Writes In And Asks “What Should I Do Next?”

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                  “I have a lot of debt. I fell behind after being diagnosed with cancer. All the medical bills were paid at first but I maxed out credit cards and then took out a HELOC. The HELOC made my debt worst because it just consolidated the debt but left open credit that was used again. Now I have a suspended HELOC ... Read More »

                    I’m in a Debt Settlement Program and Getting Sued by My Creditors. – Cathy

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                    Cathy “Dear Steve, We have been with a debt settlement company for about 4 months and one of the unsecured loan outfits is already trying to sue us for the 85% of the total amount plus attorney fees and late charges included for about $500.00 a month or will garnish or lean or property not worth what we owe. Is ... Read More »

                      I Want to Pay Less Than I Owe Without Hurting My Credit. – Diana

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                      Diana “Dear Steve, I make a good salary but we got caught in an investment home situation with a construction loan, and have been making ends meet by using credit cards. I have been pretty successful at paying the minimums, but have missed many due dates and of course interest rates have raised and minimum payments have raised. I am ... Read More »

                        MN Attorney General “Debt Settlement Companies Really Put People Into a Financial Death Spiral”

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                        I spotted an article “New Law Tightens Rules for Debt Firms” in which the Minnesota Attorney General, Lori Swanson, does not mince words about the problems she see with debt settlement companies. You can read the full article here. Consumers need to go into these transactions “with their eyes wide open,” said Elwood. Once they sign with a debt-settlement company, ... Read More »

                          Can You Direct Me To a Legit Debt Settlement Company? – Barby

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                          Barby “Dear Steve, Hey Steve, My husband and I just bought a house and then (of course) I lost my job (salary of $38,000). While I am currently out job searching, I am using my half of the savings to pay my half of the bills. My husband pays the mortgage/utilities/phone/etc. & my responsibilities are gas/groceries/debt. I am paying about ... Read More »

                            Debt Settlement USA Review. Not Pretty.

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                            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 use a real calculator and ... Read More »

                              Double Standard For Debt Settlement. Not So Sleazy Now, Ask Hilary Clinton, John Glenn and the FEC.

                              Debt Settlement Companies?

                              Consumer debt is a world of double standards. On one hand you have advocates screaming about the evils of debt settlements or that groups that charge people for professional help to do debt settlements are ripping off consumers because settling debts is something that anyone can do. Don’t get me wrong, I’m not a huge fan of debt settlement plans ... Read More »

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