Vortex Debt Group

Consumer Groups Warn About Some Debt Settlement Companies

Vortex-Debt-Group — Wed, 16 Jun 2010 06:15:03 +0000

Six consumer groups say vunerable and desperate Americans are being duped by debt settlement companies. They support changes being considered in Congress.

Debt collector to pay $330K settlement

Vortex-Debt-Group — Tue, 15 Jun 2010 07:59:29 +0000

In a victory for consumer protection advocates, a major Maryland debt collector has agreed to drop 10,000 lawsuits against people who, in turn, alleged they were pursued illegally by the then-unlicensed company. Midland Funding LLC will also pay the class $200,000 and its lawyers $130,000. Judge Richard D. Bennett preliminarily approved the deal Monday afternoon [...]

Debt Settlement Companies on Life Support and Two US Senators Ready to Pull the Plug — Observations from Debt …

Vortex-Debt-Group — Sat, 12 Jun 2010 13:07:55 +0000

New legislation called “The Debt Settlement Consumer Protection Act” was recently introduced by Democratic Senators Schumer (D-NY) and McCaskill (D-MO) in an attempt to protect consumers seeking debt relief from fraudulent business practices.

Drowning in credit card debt? Debt settlement can be tricky

Vortex-Debt-Group — Wed, 09 Jun 2010 18:11:50 +0000

Debt-settlement companies claim they can reduce borrowers’ debts by negotiating with creditors. These companies have flourished in the downturn.

A solution to debt, or more trouble?

Vortex-Debt-Group — Tue, 08 Jun 2010 19:42:47 +0000

Debt-settlement companies claim they can reduce borrowers’ debts by negotiating with creditors. These companies have flourished in the downturn.

Not all debt settlement firms are scammers

Vortex-Debt-Group — Sun, 06 Jun 2010 22:43:05 +0000

Robert Linderman wants you to know he isn’t a scammer.

Money Matters: Don’t settle for quick fix debt relief

Vortex-Debt-Group — Sat, 05 Jun 2010 00:15:29 +0000

Many debt settlement companies claim they can cut down credit card debt and quickly settle bills, but in reality they can hurt one’s credit score. Money Matters reporter Tara Lynn Wagner filed the following report.

Don’t Settle For "Quick Fix" Debt Settlement

Vortex-Debt-Group — Wed, 02 Jun 2010 04:33:19 +0000

Many debt settlement companies claim they can cut down credit card debt and quickly settle bills, but in reality they can hurt one’s credit score.

Debt-settlement firms aren’t all scammers, exec says

Vortex-Debt-Group — Tue, 01 Jun 2010 06:22:34 +0000

Sure, there are some bad apples, Robert Linderman says, but most firms are honorable and help relieve clients’ debt. Still, they charge a percentage regardless of whether the debt is settled or not. Robert Linderman wants you to know he isn’t a scammer.

Debt settlement services may create more problems than they fix

Vortex-Debt-Group — Mon, 31 May 2010 08:19:09 +0000

BBB is warning financially troubled families to beware of misleading debt settlement companies claiming they can easily reduce or eliminate credit card debt. Since late 2007, BBB has received more than 3,500 complaints from individuals, including many who paid hundreds of dollars in upfront fees to debt settlement companies but only fell deeper into debt.