RMCN Credit Services, Inc., one of the nation’s largest credit repair companies, has been ordered to pay $2.35 million in civil penalties after it violated federal law by deceiving consumers and lying to credit bureaus. The company reportedly would charge consumers up-front fees- as much as $2,000 before rendering services. The court order bars the defendants, Doug and Julie Parker, the owners of the company, from similar conduct in the future. The company is also required to submit reports to the Federal Trade Commission (FTC) for a decade to ensure that it is incompliance with the terms of the order.
According to the FTC, the company “continued to send deceptive dispute letters to credit bureaus even after the company received detailed billing histories or signed contracts from creditors proving the credit reports were accurate. RMCN also falsely told consumers that federal law allowed it to dispute accurate credit report information and credit bureaus must either prove it or remove it.”
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Related Resources:
http://bizbeatblog.dallasnews.com/2014/06/credit-repair-company-settles-with-feds.html/