Comments on: FTC smites debt negotiation firms (updated) http://blogs.law.harvard.edu/ethicalesq/2008/10/29/ftc-smites-debt-negotiation-firms/ breathless punditry and one-breath poetry with David Giacalone Fri, 11 Sep 2009 18:58:52 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: Steven B http://blogs.law.harvard.edu/ethicalesq/2008/10/29/ftc-smites-debt-negotiation-firms/comment-page-1/#comment-217140 Steven B Tue, 10 Feb 2009 16:54:29 +0000 http://blogs.law.harvard.edu/ethicalesq/?p=10211#comment-217140 One of the main reasons so many debt negotiation firms end up getting shut down is they do not fully disclose the process a prospective client will be going through. Many companies sugarcoat the debt negotiation process and make it seem like it is the easiest thing in the world. And truth be told it is not, while the consumer can end up saving a ton of money and become debt free in a few years, they must accept the fact of falling behind and dealing with collection calls. And unfortunately many companies lie to people and do not let them know the truth of how the process works, then get a tone of complaints and shut down by the FTC One of the main reasons so many debt negotiation firms end up getting shut down is they do not fully disclose the process a prospective client will be going through. Many companies sugarcoat the debt negotiation process and make it seem like it is the easiest thing in the world. And truth be told it is not, while the consumer can end up saving a ton of money and become debt free in a few years, they must accept the fact of falling behind and dealing with collection calls. And unfortunately many companies lie to people and do not let them know the truth of how the process works, then get a tone of complaints and shut down by the FTC

]]> By: David Giacalone http://blogs.law.harvard.edu/ethicalesq/2008/10/29/ftc-smites-debt-negotiation-firms/comment-page-1/#comment-204175 David Giacalone Fri, 14 Nov 2008 20:38:52 +0000 http://blogs.law.harvard.edu/ethicalesq/?p=10211#comment-204175 Jody, You ask very good questions. I think you might be able to get some answers from the FTC staffers who worked on the case (click on the Press Release link in the above post). Otherwise, you'll need to sit down with a lawyer to talk about other damages. Of course, whether a lawsuit would be worthwhile, and whether the defendants have any more assets, is questionable. Jody, You ask very good questions. I think you might be able to get some answers from the FTC staffers who worked on the case (click on the Press Release link in the above post). Otherwise, you’ll need to sit down with a lawyer to talk about other damages. Of course, whether a lawsuit would be worthwhile, and whether the defendants have any more assets, is questionable.

]]> By: Jody Dowdle http://blogs.law.harvard.edu/ethicalesq/2008/10/29/ftc-smites-debt-negotiation-firms/comment-page-1/#comment-204093 Jody Dowdle Fri, 14 Nov 2008 19:38:57 +0000 http://blogs.law.harvard.edu/ethicalesq/?p=10211#comment-204093 It is my understanding that we should get at least most of our money back that we paid in. What about any other recourse though. My credit was being destroyed for the year that I was paying into this scam. I was on time with most of my debt until I signed up. I was told that this would take 3 to 5 years and now I am starting over with additional debt for interest and late fees. How do you put a dollar amount to my credit rating to include in my claim? As if times wern't difficult enough. It is my understanding that we should get at least most of our money back that we paid in. What about any other recourse though. My credit was being destroyed for the year that I was paying into this scam. I was on time with most of my debt until I signed up. I was told that this would take 3 to 5 years and now I am starting over with additional debt for interest and late fees. How do you put a dollar amount to my credit rating to include in my claim? As if times wern’t difficult enough.

]]> By: LARRY LEWELLIN http://blogs.law.harvard.edu/ethicalesq/2008/10/29/ftc-smites-debt-negotiation-firms/comment-page-1/#comment-202574 LARRY LEWELLIN Thu, 06 Nov 2008 13:23:33 +0000 http://blogs.law.harvard.edu/ethicalesq/?p=10211#comment-202574 MY WIFE AND I ARE IN DEBT NEGOTIATIONS WITH THE PALMER FIRM. I WOULD LIKE TO KNOW IF YOU CAN ASSURE ME THAT THIS FIRM IS REPUTABLE. WE HAVE BEEN IN FOR 6 MONTHS. THANK YOU. <em>Ed. Note</em>: Hello, Larry. I do not have information on particular debt negotiation firms. You might contact the FTC staffers mentioned in the above <a href="http://www.ftc.gov/opa/2008/09/nss.shtm" rel="nofollow">Press Release</a>, or contact the consumer section of your State Attorney General's office, or the Better Business Bureau, to see if they have information or complaints about the firm. MY WIFE AND I ARE IN DEBT NEGOTIATIONS WITH THE PALMER FIRM. I WOULD LIKE TO KNOW IF YOU CAN ASSURE ME THAT THIS FIRM IS REPUTABLE. WE HAVE BEEN IN FOR 6 MONTHS. THANK YOU.

Ed. Note: Hello, Larry. I do not have information on particular debt negotiation firms. You might contact the FTC staffers mentioned in the above Press Release, or contact the consumer section of your State Attorney General’s office, or the Better Business Bureau, to see if they have information or complaints about the firm.

]]> By: Walter Olson - Overlawyered.com http://blogs.law.harvard.edu/ethicalesq/2008/10/29/ftc-smites-debt-negotiation-firms/comment-page-1/#comment-202062 Walter Olson - Overlawyered.com Thu, 30 Oct 2008 11:43:29 +0000 http://blogs.law.harvard.edu/ethicalesq/?p=10211#comment-202062 [...] The case of Hess Kennedy, repeatedly covered in this space, got attention in the Wall Street Journal earlier this month after “a Florida Circuit Court judge entered an order to wind down the firm and approved a process for consumers to apply to get their money back.” (Eleanor Laise, WSJ, Oct. 14). David Giacalone has a few links (Oct. 29, scroll, as well as a more extensive post). [...] [...] The case of Hess Kennedy, repeatedly covered in this space, got attention in the Wall Street Journal earlier this month after “a Florida Circuit Court judge entered an order to wind down the firm and approved a process for consumers to apply to get their money back.” (Eleanor Laise, WSJ, Oct. 14). David Giacalone has a few links (Oct. 29, scroll, as well as a more extensive post). [...]

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