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• Federal Trade Commission proposes tighter rules for debt-settlement firms

  Created: Saturday, 31 October 2009 10:07

    by Pamela Yip  Under fire from state authorities and consumer advocates, debt-settlement companies are facing what one industry association says could be the death knell for the business. In response to complaints from consumers, the Federal Trade ...

• Public Responses to FTC NPRM

  Created: Thursday, 29 October 2009 15:31

  The Federal Trade Commission has a link available for the viewing of public comments made in response to the FTC’s Notice of Public Rulemaking.  You can view the comments by using this link. CLICK HERE  Debt Settlement News Group is working on summari...

• FTC Panelists for November 4, 2009

  Created: Thursday, 29 October 2009 11:00

  Below is a list of the preliminary panelists for the FTC's "workshop" on the proposed rulemaking for debt settlement.  The panels are large and seem to be extremley one sided.  This could potentially turn out to be the execution squad of the debt settle...

• FTC Preliminary Agenda

  Created: Thursday, 29 October 2009 10:31

  Below is the FTC Preliminary Agenda for the Telemarketing Sales Rulemaking Forum on Debt Settlement on November 4, 2009 in Washington, D.C.9:00 - 9:10 Welcome and Explanation of Process9:10 - 10:45 The Proposed Advance Fee Ban• How prevalent are front-...

• The Credit Counseling Industry

  Created: Wednesday, 28 October 2009 15:36

    Written By:Gary Brown,  The first credit counseling agencies (CCAs) began operation in the early 1950s.  The stated goal of these agencies was to promote financial literacy and to help consumers avoid bankruptcy.  For years the primary delivery ...

• DEBT SETTLEMENT INVOLVING LAWYERS: A PROCESS FILLED WITH NEW RISKS

  Created: Wednesday, 28 October 2009 15:16

  Written by  Ira Frazer, Esq.  10/28/2009   In the wake of the uncertain regulatory environment, many have sought to utilize lawyers in the debt settlement process as a means of addressing the changing landscape. The belief is that if an attorney is ...

• Options for those in debt

  Created: Wednesday, 28 October 2009 14:54

  As Tribune writer Kayce T. Ataiyero recently noted in her Oct. 2 column, consumer debt in America has reached epidemic proportions. In these times, Americans are in need of a variety of debt-relief options -- options they can afford, options that work and...

• State law: Both Alex Sink's and Bill McCollum's offices should police debt collectors

  Created: Wednesday, 28 October 2009 14:52

  By Aaron Deslatte and Jim Stratton SENTINEL STAFF WRITERS October 28, 2009TALLAHASSEE — Attorney General Bill McCollum and Chief Financial Officer Alex Sink blame each other for the state's lax oversight of abusive debt collectors, but state law indicat...

• Muted collections may spoil party for debt collectors

  Created: Tuesday, 27 October 2009 15:45

  By Sweta Singh and Archana ShankarBANGALORE (Reuters) - The weak financial health of the U.S. consumer is expected to hit third-quarter results of debt collectors, who buy bad loans from big financial institutions and chase the defaulters to make money.Co...

• Debt settlement nightmare for Phoenix woman

  Created: Tuesday, 27 October 2009 14:39

  PHOENIX -- A Valley woman says she thought she was getting herself out of debt when she turned to a debt settlement company, but things just got worse.We're talking about a lot of money. In fact, right around $175,000. That's how much Rosie Stewart says s...

• States Want Coordinated Crackdown On Debt Relief Firms

  Created: Tuesday, 27 October 2009 14:36

  Want tighter regulations at federal levelBy Mark Huffman ConsumerAffairs.comOctober 27, 2009  The attorneys general of 40 states have asked the Federal Trade Commission to tighten regulation of companies offering debt relief services to consumers. Th...

• Household Debt Can Hasten Recovery, When It Goes Unpaid

  Created: Monday, 26 October 2009 09:24

  By MARK WHITEHOUSE The pain of millions of people across America losing their homes hardly inspires confidence in the future. But in a brutal way, it could be restoring the financial health of the U.S. consumer faster than many recognize.One of the bigges...

• Consumer advocates say medical debt's hit on credit is unfair

  Created: Monday, 26 October 2009 09:12

  By PAMELA YIP and JASON ROBERSON / The Dallas Morning News pyip@dallasnews.com jroberson@dallasnews.comWhen Steve Smith had a heart attack in 2006, the last thing on his mind was the impact on his credit report.But because of a gap in his insurance, the 5...

• Strategic defaults gain among homeowners underwater with home value

  Created: Sunday, 25 October 2009 18:00

  By Margaret CollinsBloomberg NewsScott Conroy pays the mortgage every month on his one-bedroom condominium in San Diego, even though it's worth 33 percent less than what he owes and it may take more than a decade to break even.Homeowners like Conroy who c...

• Say on Pay: Complaints About Debt Collectors Surge

  Created: Friday, 23 October 2009 13:25

  By Alain SherterAs Americans sink further into debt, so does their distaste for paying it back. Complaints about debt collection rose 34 percent from 2004 to 2008, according to a new FTC report.The agency last year received roughly 79,000 complaints regar...

• Poverty: Numbers alone don't tell the real story

  Created: Friday, 23 October 2009 13:16

  By Steven Pressman and Robert Scott/ Star-Ledger Guest Columnists Economic analysis and economic policy are only as good as the data we have. Bad data can make us miss important problems and can lead us to develop bad policies. Alas, most economic data is...

• Business is booming for debt-consolidation companies as more people seek help

  Created: Friday, 23 October 2009 13:10

  Phoenix Business Journal - by Chris Casacchia Phoenix Business JournalA year ago, Sarah Leineke had 150 clients. Now, she has more than 450.Jack Craven’s firm has seen his work increase by more than 25 percent this year.“Last month was the biggest mon...

• New Study Finds Debt Settlement Offers Consumers ‘The Most Immediate Form of Debt Relief Available Today’

  Created: Thursday, 22 October 2009 10:36

  September 23, 2009 -- A new academic white paper released today finds that the debt resolution practice known as ‘debt settlement’ offers “the most immediate form of debt relief available to consumers in today’s tenuous economy,” and may even im...

• CATCHING UP WITH BETTER BUSINESS BUREAU NEWS: IT'S GOOD TO BE BACK

  Created: Tuesday, 20 October 2009 14:51

  In its month and a half absence, bbbRoundup observed the following events.As reported May 29th, the Chicago Better Business Bureau switched positions and has now implemented the nationally dictated Letter Grade system for evaluating businesses.  That red...

• CATCHING UP WITH BETTER BUSINESS BUREAU NEWS: IT'S GOOD TO BE BACK

  Created: Tuesday, 20 October 2009 14:35

  In its month and a half absence, bbbRoundup observed the following events.As reported May 29th, the Chicago Better Business Bureau switched positions and has now implemented the nationally dictated Letter Grade system for evaluating businesses.  That red...