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NATDRCConferencetoAddressWaystoEliminateFraudulentLeadAggregatorsfromtheTaxDebtResolutionIndustryFirstofficialmeetingoftheNationalAssociationofTaxDebtResolutionCompaniesprioritizesregulationofcompaniesusingdeceptiveadvertising.Encino,CA,May01,2012--OntheslateofissuestobediscussedatthefirstofficialmeetingoftheNationalAssociationofTaxDebtResolutionCompanies(NATDRC)inWashingtonD.C.,May20-21,istheregulationofcompaniesutilizingdeceptiveadvertisingclaimsandmisleadingtradepracticesthatsolicitunsuspectingconsumers(byadvertisingontheinternet,radio,andTV)whobelievethattheyarehiringanattorney,CPA,orEnrolledAgenttorepresentthembeforetheIRS/State.Nothingcanbefurtherfromthetruth.Aleadaggregatorisdefinedasacompanythataggregates,orbringstogether,avarietyoftaxdebtproblemresolutionfirmslookingto“buy”leadsandaffiliateslookingtoproduceleads.Theaggregatorprovidesmarketingandtechnologyresourcesthattheindividualparticipantsdonothavetheresourcestoaffordindividually,andbringsthesedifferentpartiestogetherinawaythattheycouldnotwithoutanintermediary.Theproblemwiththismodelisthatitpromotesdeceptiveadvertisingandbusinesspractices.Duetotheburstingofthiscountry’sfinancial“bubble,”in2008,thousandsofso-calledcreditcarddebtsettlementcompaniessprungupvirtuallyovernight,luringconsumersinandpromisingtosettletheir(creditcard)debtsfor“penniesonthedollar.”Manyoftheseso-calledcompanies(whichwerereallyleadaggregators/generators)simplysoldconsumers’private,confidential,personalinformationtotheiraffiliates,behindtheconsumers’backs,tootherswhowouldattemptasettlement/resolution.Manyoftheseaffiliates,andtheaggregators,simplytookthemoneyandran.Theseunscrupulousoperatorsluredclientsinvialargenationaladvertisingcampaignsontheinternet,radioandTV.Theseadsweredeceptiveand,atbest,misleading.Duetothehundredsofthousandsofconsumercomplaints,theFederalTradeCommission(FTC)amendedtheTelemarketingSalesRuleinAugust2010,essentiallymakingitillegalforthesefirmstoacceptup-frontpaymentsfromconsumersandprohibitingthemfromcollectinga“fee”untilafinal,successfulcompletionwasreachedwiththeconsumers’creditcardcompanies.Thiswasamuchneeded“deathknell”thatputover80percentoftheseunscrupulouscompaniesoutofbusiness.Thesecompanies,nottobeundonebytheFTC,thoughtitwouldbeaneasy“cross-over”intothetaxdebtreliefindustryasthetargetedendconsumeressentiallyhasthesameprofileanddemographicasthecreditcarddebtor.Additionally,insteadofdoingtheirownmarketingandcontrollingcriticalintakecriteria,manyunscrupuloustaxdebtrelieffirmsreliedonotherstogetthemleads/prospects.Sincetheseleadaggregatorsareunregulated(unlikeCPAs,attorneys,orEnrolledAgents),theyoftencangetawaywithmakingoutrageousclaimsinordertosolicitconsumerswhoinrealitydonotqualifyfortaxreliefinthefirstplace.Mosttaxdebtleadaggregators’marketingandadvertisingisdeceptiveandmisleading.Generally,theydon’ttellconsumersthattheywillbe“referred”or“matched”tooneoftheiraffiliatecompanies.Theseaggregatorsdonotdotheactualcasework;thecasesare“farmedout.”Generally,onceyougivethemyourpersonalinformationyourrelationshipwiththemends.Intheunsecureddebt(creditcard,medical,etc.)settlementindustryanyonecanproclaimexpertiseaslongastheyhaveaphoneandapersuasivevoice.Therearenoexperience,education,licensureorregistrationrequirements.This“work”canbedonewithouthavinggraduatedhighschool,andthesefirmsarenowtrollingforunsuspectingconsumersinthetaxproblemresolutionindustry.Scary.
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