During the Debt Relief Master Class I held in Raleigh, NC in July 2011 we had the pleasure to meet with Michael Dye, Esq. who pursues legal action against debt relief companies. Now your initial reaction after watching the video will be intense. You will want to vilify Mr. Dye for the statements he makes and actions he takes against ... Read More »
The Maryland Consumer Right Coalition reached out to me to let me know about upcoming hearings in Maryland that involve debt settlement. Marceline White of the MCRC said, “There will be two hearings in the Maryland General Assembly next week on regulating the debt settlement industry within the state. The legislation recommends that lawyers that are principally engaged in debt ... Read More »
A pretty smart move by CareOne. See press release below. Read More »
There has been a bunch of chatter about the fact CareOne has lost their BBB rating. That is certainly the way it appeared. What in fact happened was that the BBB had changed the BBB rating to a No Rating when it was announced that there was going to be a multi-state settlement that involved CareOne. As of today the ... Read More »
Here is a copy of the letter that CareOne sent to the National Foundation for Credit Counseling yesterday asking them to comply with the new FTC telemarketing sales rules. Apparently both ACCPros and AICCCA received the same letter. August 31, 2010 Susan C. Keating President and CEO National Foundation for Credit Counseling 801 Roeder Road, Suite 900 Silver Spring, MD ... Read More »
Mike Croxson, the president of CareOne, a provider of debt settlement and debt management plans, and I chat about current events in the debt relief world. Some of the issues Mike and I talk about: Where are the loopholes from the Federal Trade Commission telemarketing sales rules. What is the endgame to chasing loopholes. The access to attorneys for debt ... Read More »
Today I was able to speak with Mike Croxson from CareOne about their performance fee based debt settlement services. We chatted about what life would be like in the debt settlement world with fee caps, what fee he could operate under, how the front-end debt settlement model is a dinosaur, the issues with credit counselors getting a pass on the ... Read More »
Companies that help consumer debtors pursue lower payments to their creditors would have to wait until a debt settlement is reached before collecting their fees under a bill now in the legislature. The bill, backed by the Maryland Consumer Rights Coalition, would allow these businesses to charge an upfront fee of $50 and then receive 15 percent of the total ... Read More »
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