Scottsdale, AZ, April 17, 2010 --(PR.com
)-- B-EZ Enterprises recently noticed a press release from a Florida based marketing company earlier this month offering self help debt settlement software. Further research shows the software being offered to the debt settlement industry, appears to infringe on intellectual property contained in the patent pending method of internet debt settlement utilized by 2SettleMyDebt.com. This software once purchased, basically creates a website that features all of the embodiments of a provisional patent filed on May 4, 2009. The inventor of this patent pending process has had several unproductive conversations with the software company. After providing the software company a copy of the provisional patent, the software company referred the inventor to the company’s intellectual property attorney.
After attempting to reach the Florida based software company's attorney without response, the inventor of this patent pending method of internet debt settlement retained legal counsel to assist in this matter. After retaining one of Arizona’s most experienced Intellectual property law firms, the inventor did finally receive a phone call from the software company’s attorney. The conversation with the software company’s attorney was very brief and did not resolve any infringement issues.
The inventor of this method of internet debt settlement never envisioned that the technology invented would ever be used in this manner. Patent law is very clear that licensing of patents is required, however, any licenses granted for this patent will have strict oversight in the licensing terms and conditions to prevent marketing in any deceptive manner to the consumer where permissible. With this stated, any license of this technology will be negotiated and drafted by the inventors intellectual property law firm with instructions to protect the interest of the consumer at all times. This policy was enacted by the inventor and developer of the website www.2SettleMyDebt.com, to ensure that the original intention of the patent filed remains; to offer a product that allows consumers an option to negotiate directly with their creditors and avoid paying excessive fees to a debt settlement company.
Over the last several years the debt settlement industry has experienced expansion beyond belief. During the current economic downturn the debt settlement industry has become very savvy in marketing of consumers with clever advertisement. The majority of this advertisement is designed to prey on the fears of consumers. Because of this and growing consumer complaints debt settlement industry has also attracted the attention of numerous State Attorney Generals and the Federal Trade Commission. New York Attorney General Andrew Cuomo, Minnesota Attorney General Lori Swanson, Florida Attorney General Bill McCollum, Illinois Attorney General Lisa Madigan, Texas Attorney General Greg Abbott, Montana Attorney General Steve Bullock, Vermont Attorney General William Sorrell, Alabama Attorney General Troy King, Colorado Attorney General John Suthers and other State Attorney General’s as well as the Federal Trade Commission have been cracking down on the debt settlement industry over the last several years.
This is good news for consumers; however, the concern is a scenario wherein debt settlement companies start doing business as “Self Help Debt Settlement” or “DIY Debt Settlement” website(s). Debt Settlement Companies pay top dollar for debt settlement leads, these leads come from consumers interested in solutions to their financial problems. Consumers see advertisements on television, hear advertisements on radio or fill out forms on the internet. From these leads, one or several debt settlement companies contact the consumer in an attempt to enroll them in their program. The problem is, after several years a debt settlement could have hundreds of thousands of leads including: the consumers name, address phone number as well as email addresses. These leads could be used by an existing debt settlement company to deceive consumers into believing they are not dealing with a debt settlement company they already decided not to do business with, or worse, a debt settlement company that was shut down could just start a new website and market consumers with these leads.
The best advice B-EZ Enterprises can provide to consumers having financial hardship is “do your research and use common sense.” Consumers should contact creditors at the earliest signs of financial hardship and utilize a “work with your creditors approach” to resolving financial issues. Creditors, in the majority of cases will work with consumers who are proactive in seeking a resolution. The fundamental objective in any successful negotiation is both parties must come away from the negotiation feeling that they received something. Consumers should remain engaged in the process and remain persistent, remember, just because a creditor was unwilling to provide a solution today; tomorrow is another day.
For additional information on the news that is the subject of this release contact:
Ian Stanton, Director of Marketing