Innovation Financial AmeriGuard Negotiations Failure to Provide Service or Issue Refund Jacksonville, Florida

I secured the services of Innovation Financial (also known as AmeriGuard Negotiations, LLC) in Oct 2010. I agreed that Innovation would earn 15 percent of my debt in fees after helping me to be debt free. Innovation charged me $1,120.70 as upfront fees. I was unaware at the time that the FL Attorney General’s Office warns against debt relief companies that require "upfront fees in excess of $50." Innovation went on to charge me a monthly fee of $460.35, half of which would allegedly go to the settlement of my debts. I was unaware that the FL Attorney General also warns against debt relief companies that require "monthly fees in excess of $40 per month." I expected Innovation to start negotiating with my creditors and use my monthly payments to start paying down my bills. But this was not the case. I periodically requested information from Innovation on negotiations being made with my creditors, but I received no updates. Again, I was unaware that the FL Attorney General warns against debt relief companies that do not provide “monthly accounting showing payments made to your creditors." The FL Attorney General also warns against debt relief companies that tell "you to stop communicating with your creditors," which Innovation asked me to do. I decided to opt out of the program after my creditors began threatening legal action and wage garnishment. My creditors also stated that they do not work with for-profit debt relief organizations and advised me to seek out non-profit debt relief agencies.  

After four months, Innovation has not helped my debt situation. Instead, things have worsened. My debt has increased tremendously, my credit score has dropped remarkably and I am on the verge of being taken to court. Innovation has agreed to release me from the program but it has refused to refund my money and wants to retain over $1500 out of the $2041.40 that it deducted from my account as money "earned." This is very suspicious for a company that claims to help people overcome debt problems. If Innovation had actually helped alleviate my situation, I would gladly pay appropriate fees. But it did not. How has it "earned" the above amount without providing a service?  

I have reported Innovation to the Better Business Bureau and the Federal Trade Commission, and have also requested the Office of the Attorney General of Florida to investigate its business practices, which appear to be quite deceitful. While I made the mistake of not first investigating this company before securing its services, you do not have to make the same mistake. If you are encountering financial difficulty, I encourage you to do business with non-profit debt relief agencies or research applicable for-profit agencies before you use them.