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Navient Says They Are Not Required to Provide Good Advice to Debtors

In response to a lawsuit filed by the Consumer Financial Protection Bureau (CFPB) against Navient, see Navient Sued by CFPB for Failing All Student Loan Borrowers, the company has said they don’t have to provide good advice. To prepare yourself to digest this article, you need to know the definition of the word fiduciary. A … Read more

Lloyd Ward, Amanda Ward, and More Named in Washington Class Action Suit

Dallas attorney Lloyd Ward who was very involved in the debt settlement business was recently hit with a class action suit in the State of Washington. The suit was filed by The Scott Law Group against Lloyd Ward & Associates, Lloyd Ward PC, The Lloyd Ward Group, Lloyd Ward, Amanda Ward (his wife), Silverleaf Debt … Read more

Credit Counseling Industry Accused in Potential Historic Turning Point Lawsuit

A lawsuit I’ve been following since it became publicly available back in the middle of October has become a major milestone in what could spell the death of credit counseling as we know it I first learned of this case about six months ago when it was developing but I’d not written anything about it … Read more

Does Credit Counseling Have a Fiduciary Duty to Mention Ethical Debt Settlement to Consumers?

Yesterday a commenter on my article Dear Credit Counselors, You Are Your Own Worst Enemy made a very interesting comment that raises a number of questions. The comments had been flowing between what appeared to be people from credit counseling and debt settlement when the issue was raised that credit counseling groups should have a … Read more

Can Any Debt Relief Company Afford to Do The Right Thing for Consumers?

In some other comment threads on the site the issue has arisen that debt relief companies are doing the right thing for consumers by asking about their situation and getting budget numbers before qualifying the consumer for their program. And over on this article, if you search through the long comments, I’ve engaged in comments … Read more

Global Client Solutions Said to Be One of the Initiators of The Concept to Evade Debt Adjuster Statutes

Recently the Washington State Supreme Court issued a killer ruling which labels Global Client Solutions as a debt adjuster that aids and abets debt settlement companies to evade the Washington Debt Adjuster statute and is civil and criminally liable. You can read the full details on that ruling in Washington Supreme Court Issues Important Unanimous … Read more

Debt Settlement Attorney Wants to Know if Debt Settlement Companies Suffer From a Fundamental Flaw

I received the following communication from a Greg Fitzgerald, debt settlement attorney who raised some excellent questions regarding the fiduciary duty and responsibility of debt settlement companies and the issues surrounds the unauthorized practice of law. I think he has raised some good thought provoking questions and I’d love for readers to weigh in by … Read more