11 Mar More debt reduction companies sued
MARCH 11, 2008 – A couple of weeks ago, I reported on CreditLawNetwork.com that lawsuits had been filed by Florida Attorney General Bill McCollum against two debt reduction companies for swindling consumers. Last week, he went after two more.
The Complaint, filed in Duval County Circuit Court, contend that Future Financial Direct and Provident Financial Services took money from clients but never contacted their creditors to negotiate their unsecured debt. Additionally, these companies, as is common in Florida, charged fees in excess of Florida Statutes Section 817.802.
According to the Secretary of State, both companies are owned by Ryan B. Boyd and Curtis R. Wood. The Secretary of State records also reveal that these two individuals have formed various other financial related corporations that have all been administratively dissolved by the state.
Anyone considering the use of a debt negotiator should read the Complaint, which sets forth the false claims made by these companies. These are the same false claims made by most debt negotiation companies throughout the country.
As the economy slips deeper into a recession, people are becoming more and more desperate to eliminate credit card debt, medical bills, etc. Debt reduction companies are popping up like weeds to steal the few dollars their honest clients have left.
AG McCallum stated, “Unscrupulous people often masquerade as debt negotiators but do nothing more than take your money.” It is satisfying to see him patrolling Florida’s businesses on behalf of consumers.
So, what do you do if you are drowning in debt and see no reasonable solution to get back on your feet? You should research bankruptcy as an option, and the first place to begin is the most comprehensive consumer bankruptcy information site on the internet – Bankruptcy Law Network.
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