TRLF Blog

$557,000 Returned to Consumers Harmed by Credit Card Interest Rate Reduction Scam

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The Federal Trade Commission is sending payments totaling more than $557,000 to consumers who paid money to GDP Network, LLC (YF Solution), a Florida-based telemarketing company that promised credit card interest rate reductions and regularly failed to deliver. The FTC is sending checks to 611 consumers. Recipients should cash their checks within 90 days as …

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$16.7 Million Judgment Secured Against Response Marketing Group, LLC For Deceptive Real Estate Training Program

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As a result of a lawsuit filed by the Federal Trade Commission and the Utah Division of Consumer Protection (DCP), the principals of a Utah-based real estate investment training company will pay $15 million and be banned from selling money-making opportunities under a court order they have agreed to. In addition, two of the primary real …

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Credit card debt is at records levels as inflation and interest rates rise. It is time to budget!

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The New York Federal Reserve Bank is expected to release data on Monday that shows that credit card debt in the United States has reached a record high of $1 trillion. This is a major reversal from just three years ago, when households were rapidly paying off their credit card debt with the stimulus payments …

Credit card debt is at records levels as inflation and interest rates rise. It is time to budget! Read More »

US credit card debt fell in early 2023, but at a slower pace than usual.

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The January-March period is typically when consumers pay down their credit card debt after spending heavily during the holiday season. However, this year, the decline in credit card debt was only 1.5%, compared to the average decline of 3% in the past 10 years. This slower decline in credit card debt is likely due to …

US credit card debt fell in early 2023, but at a slower pace than usual. Read More »

PayPal Invoice Email Scam: Cancelled Payment or Invoice Amount Due

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If you got an email that seems to be from MetaMask or PayPal, stop. They’re phishing scams. The MetaMask fake says your cryptocurrency wallet is blocked. And, if you don’t act fast, click a link, and update your wallet, they say your crypto will be lost. The phony PayPal message says BNC Billing cancelled your payment to …

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Clothing Store Lions Not Sheep Forced to Pay $176,000.00 For Deceptive Advertising.

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The Federal Trade Commission is sending 11,446 checks and 66 PayPal payments, totaling more than $176,000, to consumers who bought clothing and accessories from Lions Not Sheep. The company was charged with using deceptive ‘Made in USA’ labels and advertising on clothing and accessories imported from other countries. Each of the payments is $15.30. Consumers …

Clothing Store Lions Not Sheep Forced to Pay $176,000.00 For Deceptive Advertising. Read More »

Tri Star Consumer Group & Other Credit Repair Companies Shut Down by FTC for Fraud

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As a result of a Federal Trade Commission lawsuit, the operators of an alleged credit card debt relief scheme based in Tennessee have agreed to court orders that would permanently ban them from telemarketing and selling debt relief products or services. Sean Austin, John Steven Huffman, John Preston Thompson, and their affiliated companies were charged by …

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Credit Recovery, Inc. Shut Down for Fraudulent Collection Practices

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As a result of action by the Federal Trade Commission and the Commonwealth of Pennsylvania, debt collection company International Credit Recovery, Inc. (ICR), officer Richard Diorio, Jr., and manager Cynthia Powell, have agreed to a permanent ban from the debt collection industry after being charged with engaging in bogus debt collection efforts against businesses and non-profits.  The FTC and …

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CFPB Fines Portfolio Recovery Associates Again For Repeated Debt Collection Violations

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On March 23, 2023, the Consumer Financial Protection Bureau (CFPB) filed a complaint and proposed stipulated final judgment and order to resolve the Bureau’s claims against Portfolio Recovery Associates, LLC (PRA), one of the largest debt collectors in the United States. On September 9, 2015, the CFPB issued an order against PRA (2015 Order) to …

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