Why People Have a Tough Time Shopping for Debt Help

The Federal Reserve Bank of Philadelphia published a paper by Stephanie Wilshusen which made some very enlightened observations about why consumers struggle with getting out of debt. In the paper, “Meeting the Demand for Debt Relief” it describes the options available to borrowers who seek assistance in managing their debts and discusses the information and … Read more

TASC & USOBA Here It Comes. You’ve Got Nobody But Yourselves to Blame.

Lot’s of items are all coming to a head this week regarding the debt settlement industry. The debt settlement trade associations have been called, on short notice, to a hearing to be held by the U.S. Senate on April 22, 2010 where my bet is they will not be met with party favors and a … Read more

Debt Settlement Companies and Associations Hiring Washington Lobbyists to Persuade Congress

An article in The Hill talks about how the Debt Settlement industry is now hiring lobbyists to meet with members of Congress in order to make their case to continue to exist. Many states and the Federal Trade Commission have reloaded their regulatory shotguns and taken aim at rogue debt settlement companies in the past … Read more

Expert Testimony Worth Reading on H.R. 2309 the Consumer Credit Protection Act (Debt Settlement Industry Regulation)

The Consumer Credit and Protection Act was recently introduced in the House of Representatives to specifically address issues in some industries, including debt settlement. As boring as it sounds, I was actually reading the testimony of the expert witnesses at the recent committee meeting on the bill and found the segment below to be of … Read more

Debt Settlement Companies in for a World of Hurt in the U.S.

Debt settlement companies in the United States had better brace for some interesting times, and not good times for them. The Attorney General of New York recently issued subpoenas to fourteen debt settlement companies, not in an interest to learn more about them, but to give him the evidence he need to close down the … Read more