Kevin Trudeau: Convicted Felon Claims He has the “Debt Cure”
Filed under: Kevin Trudox, credit card, credit cards, credit repair, debt, debt settlement
Kevin Trudeau sells anything he can to anybody he can to make as much money as he can.
Trudeau’s latest book, “Debt Cures ‘They’ Don’t Want You to Know About,” is the lates example. ”Debt Cures” is a not going to cure most people’s debt. It contains information that is easily accessible by anyone with an internet connection or a basic understanding of finance.
What Kevin Trudeau Doesn’t Want You to Know: Trudeau is a Convicted Felon
The guy was convicted of credit card fraud. He defrauded American Express out of $122,735.68 (he also swindled about five grand from several banks, including Chemical and Citibank). Kevin Trudeau used false names and social security numbers to secure charge cards.
He is a convicted felon. http://www.thesmokinggun.com/archive/0826051trudeau1.html
After Kevin Trudeau completed his jail sentence, he and his cell mate got into selling vitamins and from there they got into other products. In 2004, Kevin Trudeau was ordered by a federal judge to pay more than $5 million and banned him, for three years, from producing or publishing infomercials for products in which he has an interest, according to the FTC web site. Basically, this was the result of misrepresenting his book and making false claims about other health-related products.
More recently, a federal judge has ordered Kevin Trudeau to pay more than $37 million for violating a stipulated order by misrepresenting the content of his book, “The Weight Loss Cure ‘They’ Don’t Want You to Know About.”
Don’t Trust Trudeau
Kevin Trudeau is bad news. He is as bad as the debt settlement companies out there trying to take your money. When you dig a little and investigate companies like Freedom Debt Relief and Credit Solutions and Kevin Trudeau, you discover troubling facts.
God bless,
Michael Mack, Attorney & Counselor at Law
Why Choose Debt Settlement over Chapter 13 Bankruptcy?
Filed under: Uncategorized, bankruptcy, bankruptcy attorney, bankruptcy lawyer, credit card, credit repair, debt settlement
Hello Everyone:
Sorry for being away for so long. After some intense litigation I needed to take a little time away. Unlike many bloggers, I don’t have any ghost writers to fall back on. Typically, even if I’m on vacation I write on my blog. However, I’ve just been a little “burned out”, but now I’m refreshed and ready to give you valuable — FREE — information.
OK, many bankruptcy lawyers these days are fond of putting people into chapter 13 bankruptcy. Chapter 13 bankrupcy is where you pay up to 100% of your credit card debt back over five (5) years without interest. People who file chapter 13 bankruptcy often do so because they fail to qualify for chapter 7 bankruptcy. Chapter 7 is where you pay nothing back to your credit card companies, but in order to qualify you must pass a “Means Test.”
First, a quick explanation on the The Means Test: In simple terms, it is a mathematical formula which determines how much money, if any, you can afford to pay to your credit card companies and other creditors holding unsecured claims. The Means Test (See Form B22) determines whether you qualify for Chapter 7. If you do qualify, you pay no credit card debt, medical debt and other unsecured debt back. It’s wiped out. However, if you do not qualify, then the Means Test determines how much income is available to pay those creditors for you to pay back over 60 months (five years), and that’s called chapter 13.
The problem is many people today do not qualify for chapter 7 bankruptcy and these same people who do not qualify are led to believe that their only alternative is chapter 13 bankruptcy. It is not.
My law firm, which also files bankruptcy when it’s right for people, also offers an alternative to chapter 13 bankruptcy. Instead of paying back the credit card companies back in full or at some other high percentage of amount owed, we can often negotiate a pennies on the dollar settlement and avoid chapter 13 bankruptcy. For example, if a client owes $50,000 in credit card debt and can put away as little as $7,500 over 8 months, we have been able to settle the full balance for as little as 15%. WARNING! Every case is different and there are cases we cannot get that low of a settlement. However, our results are second to none and we never require any upfront fees.
This is DIFFERENT from what debt settlement companies like Freedom Debt Relief and Credit Solutions do, or don’t do, for people. Companies like Freedom Debt Relief and Credit Solutions take your money every money and – if you read the fine print — the bulk of what you’re paying the first year is fees. Freedom Debt Relief and Credit Solutions tell you it’s a 24 to 36 month program.
That is a recipe for disaster — financial disaster. Credit card companies don’t just wait around while you pay fees to a debt settlement company. That’s why people who hire debt settlement companies often make their situation worse and end up in bankruptcy anyway. That is why debt settlement companies have “F” ratings and that’s why many of them are being sued by Attorney Generals in various states. Credit Solutions is one of them. And Freedom Debt Relief has an “F” rating and even tried to “debunk” their crappy rating with a web site.
Bottom line: Get all of your options. Consider bankrutpcy and NON bankruptcy options. Hire a professional who will not require upfront fees if you choose to avoid bankruptcy. Call us if you need help. We won’t let you down.
God bless,
Michael Mack, Attorney & Counselor at Law
When the debt dollector calls neighbor “Hank” or dear old mom?
Filed under: Uncategorized, bankruptcy, bankruptcy attorney, bankruptcy lawyer, credit card, credit repair, debt settlement
THE BASIC LAW OF DEBT COLLECTORS CONTACTING THIRD PARTIES
Hi Folks,
If a debt collector calls anyone other than the person who allegedly owes the debt, that’s a third party communiction and it’s regulated by the Federal Fair Debt Collection Practices Act.
More and more often, I’m getting calls from clients who are understandably upset because their mom or neighbor was called by a debt collector. It’s terribly embarrassing.
Fortunately, it can be illegal for the debt collector to communicate with a third party like your mom or neighbor. Title 15 of the United States Code (known as the Fair Debt Collection Practices Act or “FDCPA”) regulates the conduct of debt collectors. The FDCPA prohibits debt collectors from contacting any third-party, such as your mother, in an effort to collect a debt.
There are three (3) exceptions to when a debt collector can contact a third party:
- The debt collector can call a third party to obtain your home address
- The debt collector can call a third party to obtain your home telephone number;
- The debt collector can call a third party to obtain your place of employment.
However, the debt collector cannot tell the third party that you owe any debt. That is illegal under the FDCPA and, if that happens, both you and the third party can collect damages.
The debt collector also cannot communicate with any such third party more than once unless requested to do so by the third party (which is unlikely) or unless the debt collector reasonably believes that the earlier response of such person is erroneous or incomplete and that such person now has correct or complete location information.
One trick used by debt collectors is to ask your neighbor to put a note on your door. That’s illegal under the FDCPA.
By enlisting the help of your neighbor to put a note on your door, the debt collector is admitting the debt collector already knows the location of your residence. Think about, why would they be leaving a note on your door if they didn’t know where you lived?.
Furthermore, by having a note left on your door, the debt collector cannot possibly be trying to obtain location information. Instead, the debt collector is trying to get you to call them back and/or humiliate you.
REMEMBER THIS SIMPLE RULE
The only time the debt collector can contact third parties is when the debt collector is trying to acquire location information such as where you live or work. Debt collectors cannot contact third parties for any other purpose.
If you are having problems with a debt collector or if you feel the debt collector contacted someone you know in effort collect the debt, give us a call. We’ll see if we can help you.
God Bless,
Michael Mack, Attorney & Counselor at Law
Real People, Real Savings
Filed under: Uncategorized, bankruptcy, bankruptcy attorney, bankruptcy lawyer, credit card, credit repair, debt settlement
Hi Folks,
Freedom Debt Relief uses actors for their television ads. They also set up a web site trying to “debunk” that they are a scam. In that web site Freedom Debt Relief trys to explain why the Better Business Bureau has given them an “F” rating.
They blame it on the industry. They’re right, the debt settlement industry is full of scammers and con artists and that’s one reason why Freedom Debt Relief is given an F Rating. Another reason is consumers complain about Freedom Debt Relief. I talked with a woman yesterday who hired Freedom Debt Relief and she is got sued even though she hired Freedom Debt Relief.
I’m hoping that the Federal Trade Commission comes down hard on companies like Credit Solutions and Freedom Debt Relief. Something has to be done.
I represent real people. I don’t use actors to speak for me. I have an “A” rating witht the BBB. Listen to one of the real people I’ve helped. Michael Ford is not an actor….
Listen to Proof — Real People, Real Credit Card Debt Wiped Out
And here are some REAL settlement letters. I don’t use B.S. documents like many debt settlment companies who claim to be helping consumers when all they’re doing is taking their money and making their situation worse…. Proof — We Have Thousands of Documents Like This
And, unlike Freedom Debt Relief and Credit Solutions, the media calls me for answers about credit card debt and consumer rights. Here is a recent article in which I am quoted (plenty more where this came from)… Michael Mack in Article And another…. Denver Daily News I have too many articles in which I”ve been quoted or featured to post here, but you get the picture.
And one other thing, many credit card companies refuse to even negotiate with debt settlment companies. Here is a letter where we took out our client’s name. This client hired a debt settlment company and then received this letter from Bank of America … Bank of America Will Not Negotiate With Debt Settlement Companies
Give us a call if we can help you in any way. God Bless,
Michael Mack, Attorney & Counselor at Law
Why Are We Restless?
Filed under: Uncategorized, bankruptcy, bankruptcy attorney, bankruptcy lawyer, credit card, credit repair, debt settlement
I don’t think I’ve ever met a person who is 100% content or at peace. Even the happiest people ask the question, “Is this all there is?”
Even people who deny — or try to deny — the existence of God are not at peace with it. I have a friend, an atheist, who is a good and decent human being. He seems happy and well adjusted. We avoid the subject of God. But recently it came up. He tried very hard to convince me he was ok without God in his life.
He tried too hard.
I didn’t say this to him, but if God was not important to him, why try so hard to convince me of this fact? Deep down I believe he secretly admits to himself that God has a place in his life, if only to deny He doesn’t exist.
Media mogul Ted Turner, even though he is an atheist, at the end of every speech, he says, “God bless you.” Turner’s not sure why he says that. He, like all of us to some degree, is restless. He craves more.
Listen to the song “Constant Craving” by K.D. Lang. It goes like this:
Even through the darkest phase
Be it thick or thin
Always someone marches brave
Here beneath my skinAnd constant craving
Has always beenMaybe a great magnet pulls
All souls towards truth
We’re all pulled toward the Truth, but some of us try hard to pull away from Him. Furthermore, the darker, malicious forces in our lives attempt to circumvent our “gravitational pull” to the Truth. And then we become lost, even more restless.
I will be back on topic tomorrow.
God Bless You!
Michael Mack, Attorney and Counselor at Law
www.TheCreditMan.com
Recording Telephone Calls — When Is It Legal
Filed under: Uncategorized, bankruptcy, bankruptcy attorney, bankruptcy lawyer, credit card, credit repair, debt settlement
If you have a creditor or debt collector harassing you, consider tape recording the conversation. This can be a powerful weapon against harrassment. If you document the phone call, you may put yourself in a position to prove violations of the law and collect money from the debt collector or creditor.
CAUTION
However, there are important questions of law that must be addressed before you tape record a phone conversation. Both federal and state statutes regulate tape recording phone conversations. In some most states you can record the debt collector or creditor without their knowledge, but in a few states – Illinois, California, Florida and others – it is a crime to record the call without the other person’s knowledge.
Federal law permits recording phone calls and other electronic communications with the consent of at least one party to the telephone call. Thirty-eight states and the District of Columbia permit individuals to record telephone conversations to which you are a party without informing the other parties that you are recording the call.
These laws are referred to as “one-party consent” statutes, and as long as you are a party to the conversation, it is legal for you to record it. Therefore, if you live in Wisconsin or other states where it’s legal, then you can record the phone call even if the other person doesn’t know you’re recording it.
Twelve states require the consent of all parties to a phone conversation. Those states are California, Connecticut, Florida, Illinois, Maryland, Massachusetts, Michigan, Montana, Nevada, New Hampshire, Pennsylvania and Washington.
Be aware that you will sometimes hear these referred to inaccurately as “two-party consent” laws. If there are more than two people involved in the conversation, all must consent to the taping.
MY SUGGESTION
Tell the person you are recording the phone call regardless of whether it’s legal or not in your state. Tell the person at the beginning of the phone conversation that you are tape recording the call. Often the debt collector tells you he objects, but he still keeps yapping anyway. If you tell them you are tape recording the phone call, that’s good enough. If the debt collector or creditor stills keeps talking, that’s their problem.
By the way, you can keep voice messages from debt collectors and use them against the debt collector. And, if you are in a state where it’s legal to tape record, and the debt collector or creditor is in a state where it’s not legal, you can record the call.
Hope this helps. Let us know if you have questions.
Michael Mack, Attorney & Counselor at Law
www.TheCreditMan.com
How to Use a Reverse Mortgage to Wipe Out Credit Card Debt for Pennies on the Dollar
Filed under: Uncategorized, bankruptcy, bankruptcy attorney, bankruptcy lawyer, credit card, credit repair, debt settlement
Reverse mortgages have become increasingly available for senior citizens who have substantial equity in their home, but are cash poor or boxed in by a fixed income.
What is a reverse mortgage? What if you have credit card debt and substantial equity in your home?
The rules of a reverse mortgage are different from a traditional mortgage. In a reverse mortgage the lender gives you cash based the value of your home. Unlike a traditional mortgage, there is no immediate repayment requirement because the lender expects repayment at some future event such as:
1. When you die.
2. When you move from the home.
3. When you sell the home.
In contrast to a traditional mortgage, the amount of debt in a reverse mortgage increases over time. As the cash advances are paid to you, interest accumulates. Even insurance and taxes are added to the balance. Your equity decreases daily.
In some reverse mortgages there is no repayment obligation for as long as you’re in the home. Reverse mortgages can be paid in one of the following ways:
A. One lump payment.
B. Fixed monthly installments for a set period of time. This is called a “term” plan.
C. Fixed monthly installments that will be paid to you for as long as you live in the home.
D. A line of credit that you can use at your convenience.
For some folks, reverse mortgages can be just what you need. But you must work with legitimate, established lenders who will not scam you with hidden fees and fine print. We use reverse mortgages for our clients who are heavy into credit card debt and who would prefer not to borrow from their home.
REAL SUCCESS STORY
Take the case of Loraine Hutchins, a widow, and a senior citizen living in Wisconsin. Loraine had approximately $83,000 in credit card debt. We settled her debt for approximately $31,000. Loraine used a reverse mortgage of $31,000 to wipe out $83,000 in credit card debt. She saved $52,000 and did not have to borrow against her home.
I’m required to tell you that every case is unique, and results may vary, but we have a proven track record of getting credit card companies to forgive most of the debt. A reverse mortgage can fund the settlement.
Call my office if you want to learn more. We’ll give you straight talk.
God Bless,
Michael Mack, Attorney & Counselor at Law
www.TheCreditMan.com
Business Credit Card Debt and Other Business Debt
Filed under: Uncategorized, bankruptcy, bankruptcy attorney, bankruptcy lawyer, credit card, credit repair, debt settlement
Just about anything is negotiable — at least here on earth.
That goes especially for business credit card debt and other unsecured business lines of credit. Credit card companies and banks often do not possess the required documentation to bind you personally. Sure, they may try to sue you personally, but if pushed they often back down.
I’ve discovered over the years that the original application for credit is often missing key information that would create personal liability. If an application for credit was taken on the phone or online then this can make it particularly burdensome for the creditor to prove you are personally liable.
And even if they take your application in writing, that application is often lost or thrown away. When I ask for the documentation the creditor can give me my client’s social security number, but no signature or personal guarantee. That’s a problem.
This glaring ommission provides an opportunity for me to compromise the debt for pennies on the dollar or, in some cases, not pay at all. It’s almost humorous to watch the hard line creditor crumble when pushed back. The “credit bully” can become a marshmellow if you find the pressure points and squeeze!
God Bless,
Michael Mack, Attorney & Counselor at Law
www.TheCreditMan.com
WARNING! New Trick by Credit Card Company Can Cost You Thousands!
Filed under: Uncategorized, bankruptcy, bankruptcy attorney, bankruptcy lawyer, credit card, credit repair, debt settlement
The new trick by credit card companies and debt collectors is causing pain for thousands of consumers.
Here’s what’s happening.
You get what you think is a settlement offer from your credit card company. A nice man or woman from the credit card company tells you that he or she can simply take a “check by phone” and your account will be settled. So you get out your check book and give the nice man or woman your routing number and account number. You look at your checking account and, sure enough, the money was electronically transferred to the credit card company.
Life is good, you think. You’re thrilled! After all, you just settled your account and saved thousands of dollars – or so you thought.
Several months pass and you get a disturbing phone call from a debt collector demanding you pay the amount for which you thought you settled the credit card debt. You try to explain to the not so nice debt collector that this must be a big mistake. You settled this account, you tell the debt collector.
But your pleading and begging does no good. You even show the debt collector the transaction from your account. Nope. The debt collector could care less. They want your money and they want it now!
See, the problem is your credit card company really didn’t settle with you even though they told you they were settling.
They may have told you they were settling, but the credit companies and debt collectors play fast and loose and what you know is true is not being honored by the credit card company. And the problem is you are going to have a difficult time proving to a court you have a legally binding settlement with the credit card company.
I see this happening more frequently these days. If you don’t document the settlement so that the credit card company has no recourse to pursue the balance, you are looking for trouble.
Last month I had several calls from people who got taken in by this trick. And to make matters worse, these people hired a debt settlement company who took their money.
Do be victimized by a debt company and then a second time by the credit card company. Stay away from debt settlement companies and shifty credit card representatives who pretend like you’re having a “friendly” conversation. They are not your friend.
Get the right advice from the right professional. The only thing you should lose is your credit card debt!
God Bless,
Michael Mack, Attorney & Counselor at Law
www.TheCreditMan.com
How to Eliminate Credit Card Debt Without Bankruptcy?
Filed under: Uncategorized, bankruptcy, bankruptcy attorney, bankruptcy lawyer, credit card, credit repair, debt settlement
Why choose to settle your debt instead of filing bankruptcy?
People in credit card debt can avoid bankruptcy. It’s possible to get up to 88% of your credit card debt forgiven without bankruptcy. Our law firm has a proven track record of getting creditors to forgive – legally –most our client’s credit card debt.
And I wrote a book it. Wiping out credit card debt is a passion of mine!
DO NOT MAKE YOUR SITUATION WORSE
If after careful consideration, and weighing all of your options, you decide that you want to avoid bankruptcy, do it the right way with a professional who has a proven track record.
• NEVER pay any fees upfront.
• NEVER hire a debt settlement company.
You would be far better off doing it yourself rather than placing your trust in the hands of a debt settlement company. A debt settlement company will usually make your situation worse. You’ll end up in bankruptcy whether you like it or not.
UNDERSTAND WHAT IT TAKES TO AVOID BANKRUPTCY
It takes commitment to avoid bankruptcy. It takes sacrifice. I have folks who come into my office and think I can make their credit card debt magically disappear. I wish it were that easy.
Debt settlement companies lure you into their programs by making it seem easy. They mislead you into believing you can make payments over 24 to 36 months. That doesn’t work. You’ll get sued and harassed if you wait that long.
You are going to need to come up with some money to pay the credit card company and you will need to do it within 12 months, if not sooner. For example, if our firm negotiates an agreement with the credit card company to forgive 80% of your debt, you will have to pay 20% of the debt typically in 12 months or less.
I tell clients that before hiring my law firm, they should consider where they are going to come up with the money to pay the settlement amount.
Some common money sources to pay the settlments:
Borrow from 401K
Liquidate stocks and investments.
Borrow from their home equity.
Put money away every month. We can instantly improve your cash flow so you can do this.
Borrow from relatives.
Sell jewelry, collectibles, cars, land and other valuables.
All of the above.
The good news is we can give you time to raise funds. And we can often arrange for payments over time with the credit card company. Please call us to discuss exactly how this works.
HAVE A PLAN AFTER THE DEBT IS ELIMINATED
Once you are free of debt, then what?
It’s important to do the following after your credit card debt is eliminated:
A. Avoid the mistakes of the past with a “Life Plan” to manage your money and credit.
B. Boost your credit score using proven strategies. We’ll show you how.
C. Cash flow maximization. Again, we’ll show you how.
By the way, you should do “A”, “B” and “C” whether you get out of debt without bankruptcy or with the help of bankruptcy. If you want more information or a free consultation with our firm, give us a call.
God Bless,
Michael Mack, Attorney & Counselor at Law
www.TheCreditMan.com
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