AFCC Releases Report Praising Debt Settlement But There Are Big Holes

The American Fair credit Council (AFCC) recently released a couple of documents they hoped would persuade people about the value of debt settlement. I was asked to review the findings in the documents and offer my opinion. The first presentation is one that was supposedly given to the Federal Trade Commission and Consumer Financial Protection … Read more

The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, Bankruptcy, and Debt Consolidation Loans

This is a story that I’ve been working on for a few weeks. I’ve been asking people and groups for feedback and information to write this but what I’ve run into, is a wall. I have received some feedback from groups and people that don’t wish to be publicly identified to protect themselves but what … Read more

TASC American Fair Credit Council Lay Out The New Branding Attempt

A tipster (send in your tips here) sent in the following presentation. Below you will find the rebranding presentation that was sent out by TASC along with their open letter announcing their new name of AFCC. The new buzzwords are NAFDS (“No Advance Fee Debt Settlement”), they need us, we are consumer advocates, and “Our … Read more

TASC / American Fair Credit Council Say They Are The Only Ones With Credibility

A tipster (send in your tips here) sent in the following letter from TASC. May 12, 2011 AN OPEN LETTER FROM THE TASC BOARD OF DIRECTORS: We’d like to extend an enormous “thank you” to the more than 170 attendees at the “2011 Mission Possible” TASC Industry Conference.  The event was successful beyond our expectations and … Read more

Reliant Support Services and the 11-REL 2011 Debt Reduction Plan Mailer – Let’s Play Another Round of Do They Comply!

For a while we’ve been playing our little game of “Do They Comply” where we review marketing material from debt relief companies to see if it looks acceptable to you. A tipster (send in your tips here) sent in the following mailer and said: My brother got this and we called the company. They said … Read more

Report From the TASC Conference. Attendee Sends in Their Notes,

Just in, an attendee at the TASC conference just held in Las Vegas has sent in their notes of what they felt was the highlights for readers. TASC – THURSDAY BOB LINDERMAN: GENERAL COUNSEL OF FREEDOM DEBT RELIEF GOALS AND OBJECTIVES: “THIS IS A CONSUMER CENTRIC, REGULATOR SENSITIVE, BUSINESS FRIENDLY ORG THATS GOING TO MAKE … Read more

American Fair Credit Council (AFCC) Rumored to be the New Name for The Association of Settlement Companies (TASC)

I received a tip today that earlier it was announced at The Association of Settlement Companies (TASC) conference in Las Vegas that TASC is going to be changing their name to American Fair Credit Council (AFCC). Let the rebranding begin.

TASC Back At It Again. Fighting Back Against Delaware HB 72 With Fiction.

A tipster (send in your tips here) forwarded me a copy of the April 6, 2011 correspondence by The Association of Settlement Companies (TASC) on the proposed amendment of the Delaware code relating to debt management services. The Delaware Debt Management Services Act (source) was modeled after the uniform act developed by the National Council … Read more

Why is TASC Saying Consumers Pay Really High Interest Rates in Credit Counseling?

A tipster (send in your tips here) just brought this video to my attention. It features Dave Leuthold the executive director of TASC, until recently. I’m not sure what happened over at TASC but it looks like they cleaned house. In fact as of today they are down to 58 members and I can’t find … Read more

The Association of Settlement Companies (TASC) Makes Move That Will Eliminate Members

The Association of Settlement Companies (TASC) has just made an announcement below that will result in a significant reduction in their membership. Dear TASC Members, I want to update you on an important decision that the Executive Board voted on yesterday. We recognize these are trying times for our industry, and in trying times is … Read more

New Era Debt Solutions Tells TASC to Shove It After Attending Debt Settlement Conference

New Era Debt Solutions has just notified TASC they have resigned from TASC, effective immediately, out of disgust of tactics. Click on image for larger view. It appears that whatever went on at the recent debt settlement leadership conference in Las Vegas stirred up enough of a bad taste in the mouth of New Era … Read more

Offshore Debt Settlement, Morgan Drexen, Badges, Elizabeth Warren, Bed Intruder, CROA, and More – Podcast

Here is this weeks podcast where Damon Day and I talk about a number of debt industry issues including: Debt settlement companies settling up offshore enterprises to sell services back to U.S. residents. The odd statements made in the recent Morgan Drexen press release. You can watch video from the release here. What is the … Read more

Is TASC the New Sheriff in Debt Settlement?

Recently Dave Leuthold, the executive director of TASC, and I have been communicating about the news that TASC has come out, be it a bit begrudgingly, in support of the new Federal Trade Commission telemarketing sales rules (TSR) that regulate the debt relief and debt settlement industry and protect consumers. The full rules going into … Read more

TASC Folds, Accepts New FTC Rules and Leaves USOBA Swinging

In one of the more commendable moves that The Association of Settlement Companies has undertaken they have issued the press release below publicly stating they will abide by the new FTC rules. Guys, you did the right thing. It was the only move to make. Except for the last minute whinging in the release, you … Read more

Is This the Right Time For TASC and USOBA Members to Vote With Their Dues?

My friend and fellow debt coach, Damon Day, had a recent article that raises a very good question. In the article he said: TASC and USOBA are funded directly through debt settlement company membership dues. Settlement companies that are members of these associations often pay thousands of dollars a month and that money is used … Read more