Debt Settlement battle at the Florida Legislature

You have seen the ads late at night on TV - "have lots of debt; call this number and we will take care of all your debt by getting your debt reduced." Currently Florida law provides for a very reasonable fee for debt settlement services like this. But the national debt settlement industry would like to be able to charge much higher fees in Florida. The industry needs higher fees, paid as soon as they can get them, since most consumers are unable to meet the payments on their debt and the high fees, so after a few months of high fees and paying on their debts, they are unable to continue. Consumers end up worse off than they were before. The FTC recently passed new regulations to try to control this industry since nationally their have been so many complaints. SB 336 and HB 67 have been filed for the 2012 Florida legislative session. These bills should not pass. SB 336 will be heard in Florida Senate Banking and Insurance on Wednesday, December 7. Let your state legislators know you oppose these bills.