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Tag Archives: morgan drexen

CFPB Lines Up Crosshairs on Walter Ledda


The Consumer Financial Protection Bureau (CFPB) is not holding back after their recent victory with a default judgment and asset freeze against Morgan Drexen. Now they are going after Walter Ledda personally to recover money. After reporting the recent bankruptcy filing of Morgan Drexen the CFPB filed this long discourse why Walter Ledda should be made to pay for the ... Read More »

    Debt Settlement Giant – Morgan Drexen – Ironically Files for Bankruptcy


    Things have taken a substantial turn for the worse for California based debt settlement wannabe giant, Morgan Drexen. On April 21, 2015 the court awarded a default judgment in favor of the Consumer Financial Protection Bureau. More on that here. Then on April 30, 2015 the court found there was substantial danger and “good cause to believe that immediate and ... Read More »

      Did This Court Action Just Kill Morgan Drexen?


      Thanks to a comment from a reader I discovered on April 21, 2015 the court ruled against Morgan Drexen in it’s suit by the Consumer Financial Protection Bureau. Let is suffice to say Morgan Drexen is none too pleased. It’s opposition document filed is short and sweet. April 30, 2015 – Morgan Drexen files for bankruptcy protection. Click here for ... Read More »

        Morgan Drexen Supports Changes

        "Credit rating" handwritten with white chalk on a blackboard

        COSTA MESA, Calif., March 16, 2015 (GLOBE NEWSWIRE) — Calling it an opportunity for the “little guy” to catch his financial breath, Morgan Drexen, an MDRX Services company ( today announced their support of changes being made by Experian, Transunion, and Equifax in the way medical debt is to be reported and scored on the credit reports of millions of ... Read More »

          Morgan Drexen Loses Big in Wisconsin


          Multiple media outlets are reporting the debt settlement company Morgan Drexen has lost a Wisconsin appeals court ruling and is ordered to refund $4.2 million in settlement fees. A state appeals court says a hearing examiner properly ordered a debt settlement company to give up $4.2 million in fees and pay nearly $2 million in forfeitures because it was operating ... Read More »

            CFPB Raging Pissed Off at Morgan Drexen

            tug of war

            A reader send in some documents they said I would be interested in seeing. It relates to the 2013 Consumer Financial Protection Bureau (CFPB) lawsuit against Morgan Drexen that is still ongoing. My first thought was a disbelief this case was not further ahead. Then I read the document publicly filed in the case by the former Morgan Drexen co-founder, ... Read More »

              Morgan Drexen Gets Slapped for Millions in West Virginia

              closeup of a gavel on cash, from above

              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 »

                Details on CFPB Lawsuit Against Morgan Drexen

                Screen Shot 2013-08-21 at 1.02.28 PM

                Yesterday I mentioned the Consumer Financial Protection Bureau filed suit against Morgan Drexen. As I mentioned, I said I would take more time today and wander through the complaint filed and share more about the allegations. If there was no doubt in the mind of any debt relief industry executive if the CFPB was set to regulate the industry, the ... Read More »

                  Morgan Drexen Sued by CFPB. Take That!


                  Recently the debt settlement company Morgan Drexen sued the Consumer Financial Protection Bureau, CFPB, hoping they would be declared unconstitutional and disbanded. For more, see this and this. Today the CFPB turned around and unloaded their long-term investigation into Morgan Drexen and filed suit against them. I’ll review the entire lawsuit tomorrow but for now, here is what the CFPB ... Read More »

                    Does Moran Drexen’s Preferred Creditor Program Create a Problem for Consumers?

                    old man headache

                    Last week new information in the lawsuit between Morgan Drexen and the CFPB brought to light a commission compensated department called the Preferred Creditor Program. You can read that article, here. At least one commenter mentioned Morgan Drexen is not the only company to have such a program. If not, then an industry wide problem may exist here. One commenter ... Read More »

                      Morgan Drexen and the Telephone Consumer Protection Act

                      Mature woman confused

                      I didn’t have a chance to write about this Morgan Drexen case the other day but I did discover it when I was writing this story. At first I thought it wasn’t even worth covering but the more I thought about it the more it seemed like a different type of suit against a debt relief company than we’ve seen ... Read More »

                        Morgan Drexen Rumble With CFPB – Update


                        Previously covered the suit filed by the debt settlement company Morgan Drexen against the CFPB, here. Today I went to see what, if any, updates there were on the case. Here is the latest: “The Court held two on the record telephone conference calls with the parties on July 24, 2013 and July 25, 2013, during which Plaintiffs consented to ... Read More »

                          Morgan Drexen Throws Hail Mary, Sues Consumer Financial Protection Bureau

                          Screen Shot 2013-07-23 at 10.42.39 AM

                          Morgan Drexen, the debt settlement back office provider, has sued the Consumer Financial Protection Bureau in an effort to hopefully get the CFPB to get out of their business. The company is being represented by Venable, LLP and Randall Miller. In truth the suit is brought by Kimberly A. Pisinski and Morgan Drexen. The suit says Pisinski is an individual ... Read More »

                            Morgan Drexen Integrated Legal System – Consumer Complaint – July 3, 2013

                            customer service feedback

                            Consumer Statement: I was initially contacted by Kris Waynes, who handled my file, but whenever I called to discuss my file someone else answered and refused to put me through to Kris Waynes. I was told not to pay any creditors and forward all correspondence and calls to MDILS. Consequently, My credit score suffered while I was being told the ... Read More »

                              Morgan Drexen Announces Expansion of Services


                              A tipster (send in your tips here) sent in a copy of an email sent out by FM News Weekly that announced the expansion of Morgan Drexen services. “Official Release: Morgan Drexen Integrated Systems is now fighting online rip-off and scam blogs that are ruining business reputation and potentially costing businesses millions of dollars in revenue. Join the Fight.” The ... Read More »

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