Morgan Drexen was a nationwide debt settlement enterprise that sold consumers hope they could eliminate their debt by settling it. And while debt can certainly be settled by knowledgeable people, the Consumer Financial Protection Bureau (CFPB) had significant concerns about the company and attorney network they created. The entire Morgan Drexen debacle is a story too long for this article. ... Read More »
In an ongoing situation with the former debt settlement company, Morgan Drexen and the Consumer Financial Protection Bureau (CFPB) it looks as if the effort by successor law firms to service the former Morgan Drexen clients is heading towards a resolution. Howard Law, P.C., Williamson & Howard, LLP and The Williamson Firm, LLC had made claims or assertions they could ... Read More »
What began in 2013 as an issue between the Consumer Financial Protection Bureau (CFPB) and the debt settlement company Morgan Drexen has now turned into a widening action that has resulted in several attorneys being found to be in contempt of court and facing a $10,000 per day fine if they don’t return client money. Sooner rather than later. On ... Read More »
Last week the Consumer Financial Protection Bureau (CFPB) deposed Walter Ledda, the former man in charge of the debt settlement company Morgan Drexen. Ledda disclosed some information that made the ears of the perk up a bit and they filed a new court document. Rather than rehash the entire background of this multi-year court action between the CFPB and Morgan ... Read More »
Rather than rehash the relationship between Howard Law and Morgan Drexen, click on the links to their names for the backstory. Recent court documents present an argument by Howard Law that the CFPB action and closure of Morgan Drexen should not involve them or their clients. “When the CFPB initiated the underlying action (the “Action”) against Morgan Drexen, Inc. (“Morgan ... Read More »
In just the past few days the Morgan Drexen case with the Consumer Financial Protection Bureau took some strange twists. The court documents lay out a series of alleged events which paints an unusual story. I’ll let the court documents write this story. From this point on, the information in this story will be from these recent court documents which ... Read More »
Poor Morgan Drexen has been getting the shit kicked out of them lately. Just today another blow was delivered by the Colorado Supreme Court who found their attorney model flavor of debt settlement did not give them a free pass to avoid the advance fee laws under an attorney exemption. “The supreme court holds that the trial court erred by ... Read More »
On July 15, 2014 a West Virginia court came down hard on the Morgan Drexen business model. You may recall that Morgan Drexen was a big player in the national debt settlement business but felt they could charge advanced fees for services since it was really lawyers delivering services and thus exempt from many laws or regulations. According to the ... Read More »
A Colorado District Court has overwhelmingly ruled in favor of attorneys Drew Moore, Lawrence Williamson, Jr., and their legal support services provider, Morgan Drexen. A complaint was issued by the State of Colorado’s Attorney General’s office, arguing Morgan Drexen was subject to the state’s Uniform Debt-Management Services Act in its capacity as a legal support company. In each of the ... Read More »
Details on Mogran Drexen Lawsuit by West Virginia AG. Allegedly Unlicensed, Unfair, and Unrefunding.
I’ve received copies of the complaint and atachments of the lawsuit filed on Friday, May 20,2011, by the West Virginia Attorney General against Morgan Drexen Vincent Howard, Damian Nassiri, Lawrence Williamson, Rachelle McIntyre-Nicholson, Walter Ledda personally and as CEO of Morgan Drexen. What follows will be details from the suit filed. Morgan Drexen Complaint Morgan Drexen is not authorized to ... Read More »
Morgan Drexen Claimed to be Unfair and Deceptive in Suit by West Virginia AG. Includes Local Attorney.
This comes from the WV AG press release but I’ve requested a copy of the complaint from the State. What’s interesting about this announcement is that the AG office also went after the local attorneys in West Virginia as well. Attorney General Darrell McGraw Sues Kansas, California, and West Virginia Lawyers to Halt Morgen Drexen Debt Collection Business CHARLESTON – ... Read More »