CFPB files suit against Morgan Drexen over debt-relief services

The firms and attorneys allegedly collaborated with Morgan Drexen, Inc., which shut down in 2015 following the CFPB’s lawsuit against it. The Telemarketing Sales Rule generally prohibits debt relief providers from charging a fee until they have actually settled, reduced or changed the terms of at least one of the consumer’s debts.

to pay $3.1 million for illegally filing debt collection lawsuits against consumers. Last year, the CFPB sued two attorneys and their law firms for taking over the debt-relief scam of the now-bankrupt.

saw an advertisement for Morgan Drexen debt-consolidation services in November. One day before Mary’s suit was filed, Dow Jones reported that the CFPB asked the federal court in California to.

On August 22, 2013, one month after Morgan Drexen’s lawsuit, the CFPB filed its own lawsuit against Morgan Drexen in the united states district Court for the Central District of California alleging that Morgan Drexen charged advance fees for debt relief services in violation of the Telemarketing Sales Rule and engaged in deceptive acts and.

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The Consumer Financial Protection Bureau filed suit against Walter Ledda and his debt settlement company, Morgan Drexen Inc., for charging illegal upfront fees and deceiving customers. The CFPB.

 · The CFPB alleges that Morgan Drexen charged illegal upfront fees for debt relief services and misrepresented their services to consumers. In January 2015, before the trial was scheduled to start, the bureau also informed the court that it believed Morgan Drexen had created and altered bankruptcy petitions that it submitted to the court as evidence of having provided bankruptcy services.

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Morgan Drexen Inc. of Costa Mesa, which pulled in millions of dollars per year selling debt-settlement and bankruptcy services to attorneys and consumers, filed. debt relief services,” the judge.

CFPB files suit against Morgan Drexen over debt-relief services. By.. Contents debt settlement process Offering legal support services filed Optimal blue promotes Chief commercial officer kbra rates Consumer financial protection bureau sued freedom debt Relief, on the other hand, claims that the CFPB "fundamentally misunderstands" the debt.

The proposed settlement order filed with the court makes that a condition of the CFPB settlement. "We are pleased to have this matter concluded so we can focus our resources on providing compliant.