Debt Negotiators Banned from the Business Forever
The Federal Trade Commission (FTC) has reached a settlement agreement with Debt Solutions, Inc.; DSI Financial, Inc.; DSI Direct, Inc.; Pacific Consolidation Services, Inc.. The settlement also includes the owners of the four companies, Kenneth Schwartz and Jennifer Whalen, and two of their managers.
The FTC allegations are simple, and all-too familiar. The companies apparently represented to debtors that they had special relationships with credit card companies and other creditors that would lower interest rates and reduce overall payments. Customers were “guaranteed” to save a certain amount of money, but no time frame was specified, so that the debtors might have to make payments for decades to realize the savings. The savings they did see typically came only from increasing monthly payments and not from any actual reduction in interest rates or fees.
Schwartz and Whalen agreed to a permanent ban on engaging in the debt negotiation or debt elimination business.
Two down…how many to go?
July 20th, 2007 at 5:57 pm
I think you’ve misused the term “debt negotiation”. Debt negotiators reduce the balance owed.
November 22nd, 2007 at 11:59 am
How To Start A Blog…
I couldn’t understand some parts of this article, but it sounds interesting…
December 14th, 2007 at 5:18 pm
Is this a case of he said she said? What proof was given?
December 18th, 2007 at 2:05 pm
These crooks are still doing the same thing in Massachusetts.
Can’t get any one in our AG’s office to pay attention to it.
December 19th, 2007 at 8:41 am
Sometimes, people who are in dire financial straights will say or do anything to get out of their obligations
February 19th, 2008 at 5:02 pm
The One True Law That Coach Personal Success in Business…
The One True Law that Coach Personal Success and in business can be first seen in a typical manufacturing or production cycle. The latter describes the process in which various important components come together in a certain pattern to derive the desir…
March 16th, 2008 at 9:53 am
Debt Free IQ…
In this paper, I first summarize how the U. S. Earned Income Tax Credit (EITC) operates and describe the characteristics of recipients. I then discuss empirical work on the effects of the EITC on poverty and income distribution, and its effects on labo…
June 21st, 2008 at 7:19 pm
the bankruptcy Reform Act was supposed to help people
August 2nd, 2008 at 12:59 pm
Secured Home Loans for UK Homeowners…
…contains a list of good sites that offer or discuss secured loan – normally referred to as home loans…
January 8th, 2009 at 12:09 pm
However, there are a few requirements that must make you eligible to avail free debt management advice. But, it has improved life of many people who were nearing the state of bankruptcy.
January 10th, 2009 at 3:23 am
Along with the genuinely helpful firms, there are plenty of operations billing themselves as legit debt settlement companies. These debt company scams prey on debtors by promising relieved debt and empty their pockets forcing payment of outrageous fees.
January 27th, 2009 at 11:06 am
Becoming debt free or paying down your debt will happen much faster if you enlist the help of professionals who specialize in debt relief and credit card debt settlement.Many of these solutions will lower the amounts that you owe, allowing your debt to be more affordable. A lot of your problems probably come from fees and penalties, but a debt relief company can help you to lower or even eliminate these fees so that you can lower your overall costs
January 28th, 2009 at 1:03 pm
It might not always mean that you can totally rid yourself of the debt but at least you will be able to know what to do in the circumstance when your debt has become too much to bear. No Use Hiding Your Credit Card Debt If You Want
February 8th, 2009 at 1:34 am
I support your idea of getting debt free by getting a personal loan from a site like prosper, but they are closed at the moment. I tried Lending Club and was able to list a loan there. I’m looking forward to getting debt free
March 10th, 2009 at 1:18 pm
Many people have been taught that you cannot get ahead without debt. We are also inundated with advertising telling us we can have anything we want. All we need to do is put it on our credit card.
April 14th, 2009 at 1:00 am
Before you decide on any debt settlement service, be sure to shop around for the best rates and payment options. Take the time to become well informed about each company that you check out so that you can be confident in whoever you decide to work with.
August 9th, 2009 at 11:15 am
[...] Debt Negotiators Banned from the Business Forever [...]
January 14th, 2010 at 1:44 am
credit repair service…
I will add this website to my stumble upons!…
March 29th, 2010 at 7:41 pm
Completely agree with your comments on this – thanks for taking the time to post.
March 29th, 2010 at 7:42 pm
Thanks for sharing this information all this are of extreme use.