$100 Payday Loan

FTC Mails Refunds to Pay Day Loan Ripoff and Debt Settlement Ripoff Victims

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FTC Mails Refunds to Pay Day Loan Ripoff and Debt Settlement Ripoff Victims

The Federal Trade Commission is mailing checks to customers whom fell victim to a so-called cash advance scam as well as a so-called debt settlement scam. Within 60 days if you receive a check from the FTC, please cash it.

CWB Solutions Cash Advance Ripoff

In line with the FTC, it really is mailing checks worth an overall total of $2.9 million to almost 73,000 customers whom destroyed profit a cash advance scam presumably perpetrated by a business called CWB Services and associated defendants.

The CWB defendants allegedly produced payday that is fake agreements making use of monetary information they bought from 3rd events after which took charges away from consumers’ bank accounts without their authorization.

The FTC also alleges that the CWB defendants deceived consumers concerning the price of the pay day loans, even in situations by which a consumer really authorized the loan. The lenders presumably informed customers that the full total payments in the cash advance would add just the principal along with a finance charge that is one-time.

Nonetheless, the CWB defendants allegedly withdrew payments that are biweekly customers’ accounts, but would not place some of these re payments toward the key. In place, customers had been making interest-only repayments with no result in sight unless they contested the payments or reduced their loans.

Year the FTC reviewed bank records and determined that the CWB defendants scammed consumers out of $49 million in less than one.

The refund that is average through the pay day loan scam is $40.61. If a check is received by you and have now questions regarding the cash advance scam instance, contact Epiq Systems Inc. at 888-521-5208.

United Debt Counselors Credit Card Debt Relief Ripoff

The FTC normally mailing checks worth an overall total of $480,000 to 5,745 victims of a debt that is alleged scam perpetrated by United Debt Counselors. Read More