Vision Credit Education, Inc.

It may sound like a broken record but another large debt settlement company has been seized following an investigation into company practices. Allegro Law LLC and Allegro Financial Services LLC have been shuttered by regulators with the assets coming under seizure by the court. Read the rest of this entry »

Hess Kennedy served as a reminder that debt settlement companies hold very large amounts of their customers’ cash. It also showed us that sometimes that cash is siphoned off or spent by company executives rather than being used for promised settlements. In the end, customers received only a 25% refund of their deposits after a court appointed receiver shut down the company. Read the rest of this entry »

The American Association of Debt Management Organizations (AADMO) has been one of the largest trade associations representing various debt relief organizations that provide credit counseling or debt settlement. As such, it came as some shock to hear reports that AADMO plans to disband effective November 1, 2010. Read the rest of this entry »

If you thought you were feeling the pinch from the recession, consider what is happening to collection agencies. Their collection rates are dropping as their clients experience extended financial turmoil. Even their financing options for buying up new debt are drying up. The result is that the prices that credit card companies receive for charged off debt are plummeting. Read the rest of this entry »

Debt can allow you to enjoy things while allowing you to pay them off over time. Debt can also enslave you to the financial institutions willing to lend to you. If the latter sounds more like your situation, consider these 5 ways to eliminate debt. Read the rest of this entry »