See Who is For and Against California SB 708 Debt Settlement Legislation

A tipster (send in your tips here) sent me in the link to the current California debt settlement bill that listed who was before and against it. What is interesting to note is that Visa is for it and Consumers Union. Gail Hillebrand who was behind these efforts at Consumers Union is now with the … Read more

California Debt Settlement Legislation Tries to Close Attorney Loophole

Apparently the attorney loophole for debt settlement services is being address in new legislation. The current bill passing through the legislative process in California has had a recent addition that specifically targets advanced fee attorney model debt settlement services. Here is what the current version of the bill says regarding attorney exemptions: Section 12501 “(E) … Read more

CareOne for California SB 708 Debt Settlement Services Act With Modifications

I was communicating with Mike Croxson, president of CareOne, who shared his written testimony with me regarding his view of the new proposed California SB 708 Debt Settlement Services Act. His testimony stated the fee level set by SB 708 as a 15% of savings success fee was too low; consumers that contact CareOne broke … Read more

Center for Responsible Lending Sends Out Press Release on California Debt Settlement Consumer Protection Act (SB 708)

The Center for Responsible Lending has sent out the following press release on the California Debt Settlement Bill that has been proposed by Majority Leader Ellen Corbett. Here is a copy of the current version of SB 708 as introduced. The history of SB 708 can be found here. OAKLAND, Calif., March 7, 2011 /PRNewswire-USNewswire/ … Read more