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Entries Tagged as 'State Attorney General'

Florida State Attorney General Files Suit Against Debt Settlement Firms

October 20th, 2009 · 6 Comments · Credit Cards, Debt Settlement, Legal Stuff

Florida State Attorney General Bill McCollum recently filed two lawsuits against Texas-based Credit Solutions of America, Inc. (CSA) and Clearwater-based ADA of Tampa Bay, Inc., which does business as American Debt Arbitration. The lawsuit against ADA also names the company’s principal Glenn P. Stewart, as well as Arizona-based entities Nationwide Asset Services, Inc., Service Star, LLC, and Universal Debt Reduction, LLC.

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Can a Collection Agency Issue a 1099-C for Settled Debt?

July 13th, 2009 · 2 Comments · Consumer Debt, Debt Settlement

Under current Office of the Comptroller of the Currency (OCC) rules, when principal balances on debts are forgiven, the banks must write off the amounts forgiven and report it to the IRS. For debtors, that means they may be hit with the double whammy of a tax burden while they are still trying to pay [...]

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NY State Attorney General’s Office Shuts Down Two Collection Firms

June 1st, 2009 · 1 Comment · Consumer Debt, Debt Collection

What goes around….
New York State Attorney General’s Office shut down two collection firms, Emanee Development, Inc. and Dial Tech LLC, run by Lamont Cooper. The collections firms also did business under the names of various shell companies and fictitious law firms across the state, including: Claims Process Services, Claims America, CMC Recovery Services, Lomax [...]

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