The Federal Trade Commission (FTC) successfully sued three debt collection companies who scammed consumers into paying money they did not really owe.   A total of $1.6 million was recovered from the debt collection scammers and will be distributed to 24,916 consumers.

In 2003, the FTC sued three companies, operating under the name National Check Control, charging them with harassing and abusing consumers, falsely …

The Federal Trade Commission (FTC) has proposed changes to the law that would prohibit so-called “ foreclosure prevention” companies from charging up-front fees for their services. 

“Homeowners facing foreclosure or struggling to make mortgage payments shouldn’t have to contend with fraud­ulent companies that don’t provide what they promise,” FTC Chairman Jon Leibowitz said. “The proposed rule would …

If you’re applying for a job in finance, accounting or a position that requires the handling of cash, expensive merchandise or a security clearance, you may be subjected to a credit check. If you’re behind on your bills, have delinquencies, defaults, judgments or liens, there a few things you should know.

While a company is restricted from not hiring you simply because you filed …

… Agency, Inc. for engaging in prohibited debt collection practices.  One of the catalysts for the FTC’s lawsuit was the number of complaints filed.  Hundreds of complaints had been filed with the FTC, the local better business bureau, and the state attorney general offices.  Each individual complaint was like a drop in the bucket, but the number of complaints spoke volumes about the practices of the collector.  So file the complaint if you are being harassed with illegal collection …

… they are with the federal government.  One of the major modification companies targeted by the FTC is called FedMod.  As with credit counseling organizations, we wary of any firm that requires large sums up front and promises exaggerated results.  Keep the old adage in mind that if it sounds too good to be true, then it probably is.  These companies are very persuasive.  Before signing anything, read it and understand it.  If you don’t understand what you’re agreeing to, then …

… Regardless of how it started, the recession is still here and the Federal Trade Commission (FTC) is grossly aware of its impact on consumers. This week, the FTC made several announcements that should help you as a consumer as you begin to rebuild your credit after bankruptcy.

The first announcement involved the accuracy of credit report information.  After bankruptcy, a consumer should get a copy of their credit report to review for inaccurate information.  To assist consumers, …

Tags: Collection agency Federal Trade Commission FTC Law Money Management Personal Finance

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… made to consumers without their express written permission.

The article said:

“FTC Chairman Jon Leibowitz said American consumers have made it “crystal clear that few things annoy them more than the billions of commercial telemarketing robocalls they receive every year.” Violaters will face penalties of up to $16,000 per call.”

It’s about time!  Many of those “robocalls” aren’t just obnoxious; they’re designed to illegally separate consumers from their …

Permalink: /lawsuits/ftc-to-terminate-robocalls-september-1st/

… made to consumers without their express written permission.

The article said:

“FTC Chairman Jon Leibowitz said American consumers have made it “crystal clear that few things annoy them more than the billions of commercial telemarketing robocalls they receive every year.” Violaters will face penalties of up to $16,000 per call.”

It’s about time!  Many of those “robocalls” aren’t just obnoxious; they’re designed to illegally separate consumers from their …

Comment by Reed Allmand: Keep the FTC number handy and report any …

Permalink: /lawsuits/ftc-to-terminate-robocalls-september-1st/

On the good news front, The Federal Trade Commission has refunded nearly $28 million to 86,000 homeowners who had mortgage loans serviced by EMC Mortgage Corp. The payout was part of a settlement of charges that EMC and Bear Stearns misrepresented to homeowners the amounts actually owed, charged unauthorized fees and engaged in unlawful and abusive collection practices. Many homeowners who …

The Federal Trade Commission has filed two lawsuits against individuals and businesses falsely claiming to homeowners that they will stop foreclosure . One of the lawsuits was filed in Texas. Some of the false claims made by the foreclosure scammers include:

“We are so confident of our abilities to provide you with a solution in stopping your foreclosure that we guarantee our services …

Permalink: /foreclosures/ftc-clamps-down-on-foreclosure-scams/

… the first credit counseling company to have a federal lawsuit filed against it.   It was the FTC’s largest case involving deceptive credit counseling and debt management.

In November 2003, the Federal Trade Commission (FTC) charged AmeriDebt, DebtWorks Inc and Andris Pukke, the founder of the two companies had deceived consumers with claims that AmeriDebt was a nonprofit organization and that it provided counseling services to consumers seeking to get out of debt. FTC claimed that …