Debt relief companies help those in debt condolidate their debt and lower their overall rate in order to help you pay down debt. Many of these companies charge a large fee out front and ongoing fees but don't deliver on the agreed consolidation.
Florida AG Bill McCollum says he wants to shut these companies down that are defrauding Floridians out of millions of dollars. Debt relief fraud is up 62% this year and is expected to continue rising.
Current companies under legal action are IXE Accelerated Financial Services, of Orlando; Enterprise Technology Group, of Dunedin; United Debt Solutions and Provident Financial Services, both of Jacksonville; and New Leaf Associates, of Pinellas County.