The Federal Trade Commission (FTC) recently had a hand in shutting down a fraudulent company impersonating itself, called “FTC Credit Solutions.” The company was allegedly using false connections with the FTC to market credit repair services to Spanish-speaking consumers.
The company would contact consumers by phone or claim in advertisements on the radio or Internet that it was affiliated with or licensed by the FTC. The employees told consumers that they could remove negative information from their credit reports; guaranteeing customers their credit scores would be 700 or more within six months of service.
FTC investigators called the fraudulent company posing as consumers, and discovered employees were misrepresenting the company as “working with the Federal Trade Commission.” Employees also falsely promised they could “delete” or “get a pardon” for consumers’ debts.
In addition to making false statements about the affiliation with the FTC, the company allegedly charged consumers upfront fees for “credit repair services,” and sent false information to major credit bureaus. The company and its employees allegedly violated the FTC Act by misrepresenting their affiliation with the FTC. They also allegedly violated the Credit Repair Organizations Act by charging upfront fees for credit services.
Click here to read more on the FTC shutting down a fraudulent affiliate company.
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