Business That Sold Fake Pay Day Loan Debts To Collectors Must Pay $4.1M

Business That Sold Fake Pay Day Loan Debts To Collectors Must Pay $4.1M

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Business That Sold Fake Cash Advance Debts To Collectors Must Pay $4.1M

We’ve heard it before: a business collection agencies business involved in a debt that is“phantom by which they you will need to entice naive people into spending debts they don’t actually owe. While federal regulators have cracked straight straight down on these unscrupulous companies within the past, they have been now turning their focus on the firms information that is providing these expected debts. Compared to that end, the Federal Trade Commission today ordered one particular information company to cover $4.1 million.

The FTC announced today it had acquired a $4.1 million judgment [PDF] against a procedure that sold — for millions of bucks — lists of fake cash advance debts to loan companies, whom then utilized the info to gather unowed debts. Continue reading Business That Sold Fake Pay Day Loan Debts To Collectors Must Pay $4.1M