Will Credit Solutions send a Cease and Desist letter to the Today Show as well?

Credit Solutions of America

A few months ago I received a Cease and Desist letter from Credit Solutions of America for what they claimed were false and misleading statements I had written about them on my website.  You can see their letter and my response to it here.  Credit Solutions of America sends me a Cease and Desist Letter Today I saw a very damaging piece of investigative reporting done by the Today Show regarding the business practices of Credit Solutions of America.  The […] Read more »

Don’t Call a Debt Settlement Company for Financial Advice, Craigslist Exposes Why

Debt Settlement Sales

I have written several articles on the Dangers of calling a debt settlement company to get financial advice. Today I thought it would be an eye opening exercise to show consumers the background and qualifications of a typical debt settlement sales person. I do want to be clear though, I am not purposefully picking on debt settlement sales people and I am not saying all debt settlement sales people are bad. I actually believe that most of them really believe […] Read more »

Credit Answers Runs Misleading Ad, TASC Does Nothing – Big Surprise

Debt Settlement Ad

I was watching TV last Friday and a commercial from Credit Answers comes on and asks me “if I know if I qualify for the credit card bailout program.”  Well I am usually pretty much up to speed on the programs available to help consumers in debt, but I certainly haven’t heard of a credit card bailout program. Of course, there is no such thing as a credit card bailout program. In my opinion, Credit Answers is just running a misleading ad, […] Read more »

Excuse Me – I’m Calling Bullshit

Debt settlement bullshit

After months of debate, mostly with myself, I have decided to start a new series on my blog entitled “Excuse me, I’m calling Bullshit!” Professional?  Not really.  Effective? I really hope so. Every day I sit at my desk and read mountains of articles, press releases, ads, websites, all designed to target cash strapped, emotionally drained consumers just looking for honest help with their financial situations.  Most of this stuff is just total, well, Bullshit! I am sick and tired […] Read more »

TASC Throws USOBA on the Sword, Runs to Next Industry to Plunder


For the past few weeks I have really been scratching my head and trying to figure out just what the heck is going on over at TASC and USOBA.  It seems as if they are the only ones that didn’t get the memo that the days of the rip off, “front loaded fee” debt settlement company are over.   On one hand you have USOBA running around telling any legislator that will pretend to listen that “front loading” their fees is the only way debt […] Read more »

Debt Settlement Consumer Protection Act – So Much Protection it Actually Hurts

debt settlement consumer protection act 2010

I recently read the Debt Settlement Consumer Protection Act of 2010 and I have some major concerns about how this bill will effect consumers in a negative way.  Much of the opposition to this bill is coming out of very low credibility organizations like TASC, USOBA, and rip off settlement companies concerned that they will be shortly run out of town.    I certainly see a lot of finger pointing going on between the settlement and the credit counseling industry.  From […] Read more »

USOBA and TASC Set Industry Standard – Don’t Trip Over The Bar

Usoba and Tasc set the bar low

A few days ago a debt settlement salesperson went into a public forum and basically told me I was full of it for saying TASC and USOBA are not really looking out for consumers.  As evidence, he claims that he was secretly shopped by TASC and it was found that he didn’t lie to the undercover consumer. Now I have never said TASC and USOBA didn’t do anything.  Some of the requirements they have are certainly better than nothing.  Of […] Read more »

Mass Exodus in Debt Settlement Industry, Take Heed or BE TRAMPLED

Debt Settlement Companies will close in Mass

If you only have the time to read one of my articles pertaining to debt settlement, then you must read this one if you are considering hiring a debt settlement company. I believe that we are about to witness a mass exodus of debt settlement companies closing their doors and leaving their existing clients in very bad financial shape. I have been warning consumers for years that these companies who front load all of their fees are very bad news.  It seems […] Read more »

Credit Solutions of America sends me a Cease and Desist Letter

Cease and Desist letter from Credit Solutions

I recently received an email from Credit Solutions of America which contained a Cease and Desist letter.  I was actually surprised because I had never even done an actual review of Credit Solutions.  However, they obviously felt that I was doing something that they didn’t like and wanted me to stop.  The following is a copy of the Cease and Desist letter along with my responses. Dear Mr. Day: Your website and blog postings contained therein contain several false and […] Read more »

TASC Fails to Protect Consumers, Regulators Take Notice

TASC Fails to Protect Consumers

Today TASC issued a statement claiming that Illinois Attorney General Lisa Madigan’s proposed Bill HB 4781 would hurt consumers.  I agree that there might be a little validity to that statement in a sense that regulating specific fees on what companies can charge can be a very slippery slope and many times will not solve the problem it was intended to solve. However, I believe that Madigan and other AG’s proposing similar legislation are doing what they feel is best […] Read more »

Most of My Articles are about Debt Settlement – Why?

Debt Settlement Pied Piper

A reader that glances at my blog might mistakenly conclude that I recommend consumers pursue a debt settlement strategy far more often than I would any other.  If that is not the case, then why does the topic of debt settlement, at least thus far, clearly dominate much of the content on this blog?  Simple.  The debt settlement Industry, by a large margin, is harming many more consumers than all of the other “debt reduction strategies” combined. As an advocate […] Read more »

Legacy Debt Solutions vs Credit Solutions – Who Can Bankrupt a Client Faster?

Debt Settlement Salesperson

Hiring a debt settlement company using a front loaded fee model endorsed by TASC and USOBA is more likely to lead a consumer to Bankruptcy then to a successfully completed settlement program.  There are various reasons why this is unfortunately true, but one of the most obvious to me is that debt settlement salespeople for the most part, always recommend debt settlement, regardless of whether or not it actually makes sense given the financial circumstances of the client. The following […] Read more »

DamonDay.com is in Transition

Construction guy

DamonDay.com is currently undergoing some renovations and design changes.  We apologize for all of the noise and dust while we are making some necessary modifications and upgrades to our website.  We have learned that we are much better at breaking our site then we are at putting it back together.  As a result many of our pages have turned into half English and half html, making them difficult to read.  We quickly wised up and called in the IT professionals […] Read more »

TASC – Just Another Marketing Gimmick

Debt Settlement Salesman

“If you tell a lie that’s big enough, and you tell it often enough, people will believe you are telling the truth, even when what you are saying is total crap.” – Richard Belzer This is the 4th in a series of 5 articles aimed at educating consumers on what I believe to be the true motivations behind The Association of Settlement Companies (TASC).  If you have read my previous 3 articles, you have likely come to the same conclusion […] Read more »

Debt Relief USA files Bankruptcy – Clients get Burned

100 bucks burning

Unfortunately this is going to be an all too common headline in the coming months.  With Debt Settlement companies ripping off consumers at an alarming rate, the FTC and state regulatory bodies are taking notice and stepping up enforcement.  Debt Relief USA recently filed for bankruptcy citing several investigations by state attorney generals and federal authorities as the reason for closing their doors and filing bankruptcy. Why were they being investigated?  Because they were doing what most debt settlement companies are […] Read more »

Debt Settlement USA – A Not So Glowing Review

Arm full of Money

Debt Settlement USA I was recently on a consultation with a consumer and she asked me to review a contract that she received from Debt Settlement USA.  She had enrolled into their program a few months ago and now she was starting to get the feeling that they were much more interested in collecting their fees from her than they were in helping her settle her debts.  After 5 months in their program she had given them around $2500 in […] Read more »

TARF – The Association of Red Foxes


As an aside to the 5 part series that I am writing on the Association of Settlement Companies, I wanted to provide a simple way to understand the thinking behind the formation of TASC, as I see it. Sometimes it is very difficult to explain interwoven thought processes in the confines of a 1000 word article. Hopefully this will help consumers understand why (in my opinion) TASC currently has nothing to do with legitimately protecting consumers and everything to do […] Read more »

Debt Settlement – FTC could put 84% of Companies out of Business!

FTC Fee Ban

Currently the FTC is considering a proposal to Ban the large upfront fees that most debt settlement companies charge.  USOBA – The United States Organization for Bankruptcy Alternatives, recently submitted testimony to the FTC that such a ban could put up to 84% of their member debt settlement companies out of business. USOBA is a trade association for the Debt Negotiation Industry.  They claim membership of about 200 debt settlement companies. Since most Debt settlement companies incorporate a similar advance fee […] Read more »

TASC – Debt Settlement Lobby or Protector of the People?

Debt Settlement Advocate

We have now established that TASC is first and foremost a trade organization for the Debt Settlement industry and its number one goal is the protection of its own TASC Debt Settlement member companies.  In this article we will examine whether or not TASC can protect consumers at the same time it is busy lobbying to protect its members. I believe the answer to this question is that Yes, they can protect consumers, however, they fail miserably. TASC claims to […] Read more »