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Tag Archives: walter ledda

Walter Ledda, Working as Temp in Poland, Caught By Surprise in Morgan Drexen Case

The actual granular data presents a surprising reality.

New public documents filed in the Morgan Drexen case paint a picture of Walter Ledda caught by surprise by the turn of events. These excerpts are from the documents shown with the source link. You can click on those documents to read the full original filing. In the first document, Ledda represents the recent CFPB action caught him by surprise. ... Read More »

    Morgan Drexen Bankruptcy Update for August 25, 2015

    Bankruptcy Road Sign

    As part of the public record, the bankruptcy trustee in the Morgan Drexen bankruptcy has just posted a very interesting update. The document was filed on August 24, 2015 and here is what it says. The Trustee states the Morgan Drexen business has been wound up and 15,000 letters were sent to “Affected Customers” notifying them of the facts surrounding ... Read More »

      Morgan Drexen Bankruptcy Surprise Deposition


      It’s not often that a deposition is made available regarding Morgan Drexen, the now defunct debt settlement company. Since I’m sitting down to read the entire 121 page document I thought if I came across anything I found interesting for no particular reason, I’d just share it with you. All the material below comes from this document. The deposition conducted ... Read More »

        CFPB Says if Morgan Drexen Owes You Money You Are Potentially SOL


        The Consumer Financial Protection Bureau has finally taken down the old Morgan Drexen website and put up a message of their own. See for the latest version of the CFPB informational message. But yesterday on the CFPB website they put up advice and information for consumers who were harmed in the Morgan Drexen / Walter Ledda debacle. The most ... Read More »

          Debt settlement company Morgan Drexen is no longer in business: What you should know

          Morgan Drexen Integrated Systems (20120116)

          Jul 20 2015 By CFPB Web Team Morgan Drexen has gone out of business. If you are a Morgan Drexen customer, you must take action on your debts. You can also request a refund of any money that is currently in your settlement account. In 2013, we sued debt settlement company Morgan Drexen for collecting illegal “upfront fees” for debt ... Read More »

            Kesher Law Group is Offered Up by Reader


            In response to a previous article about the demise of Morgan Drexen a reader said I should take a look at Kesher Law Group. Kesher Law Group According to the State of California, Kesher Law Group, P.C. was formed on April 3, 2015 and is located at 675 Anton Boulevard, 2nd Floor, Costa Mesa, CA 92626 and the agent is ... Read More »

              Door Slams Hard on Morgan Drexen Debt Settlement Company

              M.D. Anderson's Houston Main Building is imploded Sunday, Jan. 8, 2012, in Houston. Opened in 1952 the 20-story building was the regional headquarters for Prudential Insurance Company. Prudential sold the building in 1975. ( Nick de la Torre / Houston Chronicle )

              Surely a bunch of people at Morgan Drexen are blaming the U.S. Government and Consumer Financial Protection Bureau (CFPB) today for the utter demise of Walter Ledda’s creation, Morgan Drexen, on Friday. An insider told me over the weekend, “Just letting you know the court ordered Morgan Drexen’s trustee to seize operations immediately. Morgan Drexen was shut down today at ... Read More »

                OMG, Morgan Drexen Loses Yet Again


                Poor Morgan Drexen has been getting the shit kicked out of them lately. Just today another blow was delivered by the Colorado Supreme Court who found their attorney model flavor of debt settlement did not give them a free pass to avoid the advance fee laws under an attorney exemption. “The supreme court holds that the trial court erred by ... Read More »

                  Walter Ledda – The Most Innocent Man in the World

                  most interesting man

                  The Consumer Financial Protection Bureau (CFPB) and Morgan Drexen / Walter Ledda have been duking it out for years. That is until the won a default judgment in their suite against Morgan Drexen. You can see all the latest permutations on this legal battle by clicking here. Recent court documents filed are very interesting to those of us who my ... Read More »

                    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 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 Hits Speed Bump in Suit Against the CFPB

                              head hanging

                              Previously the somewhat debt settlement, social media, call center, software developing, reputation defending company Morgan Drexen in California sued the CFPB and challenged its constitutionality. I’ve written about that here, here, and here. On October 17th the United States District Court for the District of Columbia issued an opinion in the case. In the 29 page opinion, Judge Kollar-Kotelly had ... Read More »

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