3/2/2010 4:21 PM (PST)

I found a listing for Debt Plus Financial in Fort Lauderdale, FL. They have an F rating with the BBB, which you can access here:

http://www.seflorida.bbb.org/Business-Report/Debt-Plus-Financial-LLC-92016850

In general, the BBB's history overall with debt settlement companies has not been good. Most people who complain about these companies state that their debts weren't negotiated, they were told to stop making payments, and the result is that they're in worse shape than when they started. Many are sued and are forced to file bankruptcy to rid themselves of the lawsuits. Debt settlement companies have a good sales pitch that makes the program seem like a no brainer but unfortunately it's a mirage. This industry is rife with companies using predatory fee models.

The Federal Trade Commission does not look favorably debt settlement operators. The FTC has scrutinized the fee schedules commonly used by these settlement companies, in particular the timing of fees (usually front end loaded) and the high level of these fees. A good roundup of the recent FTC public forums, investigations, and Notice of Proposed Rulemaking on debt settlement/negotiation can be found at:

http://www.venable.com/ftc-hosts-public-forum-on-proposed-debt-relief-amendments-to-the-telemarketing-sales-rule/

3/24/2010 4:53 PM (PST)

Proceed at your own risk....these DEBT SETTLEMENT, DEBT COUNSELING firms are usually a FRAUD. They take up front fees and do little or out right disappear with your deposit...you have little recourse but to complain. Their motto ...."TAKE DE MONEY AND RUN"