United Financial Systems, Inc - Information Page

Attorney General Pamela Jo Bondi previously obtained a judgment against the debt consolidation company United Financial Systems, Inc. and its principal, Christopher Boulahanis. Through the efforts of the Office of the Attorney General to enforce the payment obligations due from the Defendants, a first distribution of approximately 14% of each consumer’s qualifying loss was made in March of 2012. Under a payment plan that United Financial had previously agreed to, we had anticipated a second and final distribution in September of 2012. Unfortunately, United Financial defaulted on its payment obligations under that payment plan.

The Office of the Attorney General has continued its efforts to collect on the judgment and we believed that a second distribution at the end of November 2012 was viable. While our collection efforts continue, we unfortunately will be unable to provide further restitution unless and until additional funds are obtained from United Financial. We will continue our efforts on behalf of those affected and provide consumers with further information as significant developments occur.

All consumers retain any and all private rights and causes of action should they seek to pursue individual relief; please note, however, that generally you cannot recover twice any monies already refunded through the efforts of the Office of the Attorney General. Any additional updates on this matter will be posted online as they become available. If you have any questions, please call Victim Advocate Claudia Machado at (954) 712-4641.

This website is the most current and best source of the current status of this matter. This page will be regularly updated. Please visit this website on a regular basis for the most current information.

Background
United Financial Systems, Inc. was a Florida corporation that provided debt consolidation services to consumers nationwide. The company shut down operations as of December 2010. The Office of the Attorney General initiated an investigation in January 2011. In response to the Attorney General investigation, the company agreed to refund all consumers by August 31, 2011. The refunds were not timely made by the company, however, and the Attorney General pursued the investigation toward litigation. In December 2011, the Attorney General signed a settlement agreement with United Financial in which the company will pay the Attorney General the full amount due to the consumers in a series of monthly installments, and the Attorney General will distribute the funds to the defrauded consumers.