News & Events

Settlement companies protest better business bureau rating system

(March 12, 2009 by Gerri Detweiler at http://www.credit.com)

Consumers who are considering working with a debt settlement company may find little help checking out those firms with the Better Business Bureau. “Under the BBB’s new rating system, it is virtually impossible for a debt settlement company to be rated anything other than a ‘D’ or ‘F’,” warns The Association of Settlement Companies (TASC), the professional association for the debt settlement industry.

Debt settlement companies help consumers who cannot pay the full amount of their unsecured debts negotiate reduced payoffs or “settlements” with creditors. These companies are becoming a popular option for debt-strapped consumers who want to choose the best option to bankruptcy but cannot pay back their full debts through credit counseling. With the economic downturn, the settlement industry is experiencing significant growth, while also attracting criticism from regulators concerned with high upfront fees and aggressive sales practices... (Read More About This)
http://www.credit.com/news/experts/2009-03-12/settlement-companies-protest-better-business-bureau-rating-system.html

An unfair law for debt-settlement firms

(January 29, 2009 at http://www.philly.com)

FOR THE MANY consumers dealing with debt and struggling to make their minimum payments, the state of Pennsylvania has taken away a critical debt-relief option.

A recent Daily News editorial ("Feeding Off the Troubled") said that debt-settlement companies "don't fix the problems and only create new ones." The Association of Settlement Companies respectfully disagrees. We believe the state law passed recently affecting debt settlement companies is as wrong as the editorial... (Read More About This)
http://www.philly.com/dailynews/opinion/20090129_An_unfair_law_for_debt-settlement_firms.html

USOBA, Nation's Leading Debt Settlement Industry Association, Announces New Measures to Safeguard Consumers

(January 28, 2009 at http://www.prweb.com)

Houston, TX (Vocus/PRWEB ) January 28, 2009 -- A new link on USOBA provides consumers with a convenient means of verifying whether a company belongs to The United States Organization for Bankruptcy Alternatives (USOBA), the leading debt settlement industry association dedicated to consumer protection.

In turn, increased legislative representation by a newly appointed Board of Directors is among a set of new benefits available to debt settlement companies who join USOBA in 2009... (Read More About This)
http://www.prweb.com/releases/2009/01/prweb1926084.htm

Debt Settlement Industry Earns Injunction on New Pennsylvania Law

(January 27, 2009 at http://www.prweb.com)

Madison, Wis. (PRWEB) January 27, 2009 -- A preliminary injunction granted Friday by the Commonwealth Court of Pennsylvania means members of The Association of Settlement Companies (TASC) can continue to perform a valuable service for Pennsylvania residents seeking meaningful debt relief.

The ruling by Judge Keith Quigley is the result of a TASC lawsuit against the Department of Banking of the State Commonwealth of Pennsylvania alleging a newly enacted law affecting debt settlement companies is unconstitutional. The law was scheduled to go into effect Feb. 6, but Quigley's ruling means TASC members can continue to do business until new rules are promulgated, or there is a final decision in the lawsuit contrary to the injunction... (Read More About This)
http://www.prweb.com/releases/2009/01/prweb1919864.htm

TASC Elects Nick Passalacqua of Predictivedollars.com its Newest Board Member

(January 19, 2009 at http://www.prweb.com)

Boynton Beach FL (PRWEB) January 19, 2009 -- Nick Passalacqua, founder of www.Predictivedollars.com, has been the newest member elected to the board at large of TASC. TASC's™ goals are to promote good practice in the debt settlement industry, protect the interests of consumer debtors, and lobby on behalf of debt settlement companies on the federal and state level. Nicholas plans to bring awareness to (TASC) through its web committee because he feels that there is such a large untapped audience that needs to clearly understand the benefits of being a (TASC) member.

Predictvedollars.com, is the largest provider of real-time debt leads in the debt settlement space and generates approximately three thousand leads daily and expects early in the first quarter of 2009 it will be able to take that number to above six thousand. The company owns and operates its own web properties which generates millions of consumers a month that are in need of reducing their credit card payments due to financial hardships. The company estimates in 2008 that it has generated over 2.8 billion dollars in consumer credit card debt inquiries... (Read More About This)
http://www.prweb.com/releases/2009/01/prweb1880364.htm

* Disclaimer: ClearOne Advantage, LLC (“COA” ), is a debt settlement company; not a credit repair or consumer credit counseling company. COA doesn't provide investment, tax or legal advice. COA does not provide services or assistance repairing, modifying, improving, or correcting credit entries or credit reporting. COA does not assume or pay any debts, receive, hold or control funds belonging to consumers. COA’s debt settlement program is not available in all states. Individual results vary and are dependent on factors such as successful completion of program, creditor cooperation, and ability to save funds. Read and understand all contract terms and program disclosures before enrolling. Not all clients successfully complete the debt settlement program.

** Disclaimer - We do not charge upfront fees and you do NOT pay our fee until we arrange a settlement, you approve the settlement and at least one payment is made towards the settlement.