FTC Refunds Nearly $4 Million from Debt Collection Scam

In the largest FTC debt collection refund program to date, the FTC is returning nearly $4 million to people who were harassed by Asset & Capital Management Group, a debt collection business that used dozens of fake names. According to the FTC, the scammers used deceptive and abusive tactics to collect on credit card debt, including posing as process servers and falsely threatened people with lawsuits, wage garnishment, seizing their property and arrest. They also told employers, colleagues, and family members about the debt. All of these actions are against the law.

A federal court required the scammers to surrender the money that is being used for consumer refunds and permanently banned them from the debt collection business.

If you get a check, you have until August 29, 2015 to cash it. If you have questions, contact the FTC’s refund administrator, Analytics Consulting LLC, at 1-855-312-3324. More information about the FTC’s refund program is available on the FTC’s website.

It’s important to understand your rights if you’re ever contacted by a debt collector. And if you believe a collector has violated those rights, the FTC wants to hear about it.

Source: http://www.consumer.ftc.gov/blog/ftc-refunds-nearly-4-million-debt-collection-scam?utm_source=govdelivery