The Pennsylvania Attorney General has reached a settlement with a debt agency after the company was found to have misled consumers.
Accelerated Debt Settlement Inc. and its affiliates was found to have misled consumers about its ability to reduce or settle debts, and for demanding illegal upfront payments according to Attorney General Dave Sunday.
Under the agreement, the company will pay $550,000, with $500,000 earmarked for consumer restitution.
A statement from the Attorney General it says, in part, “Everyone is looking for avenues to minimize or erase debt, and these companies preyed on consumers looking for a lifeline, this settlement stops the agency from operating in Pennsylvania without a license and brings much needed monetary relief to consumers.”
Refund checks will be distributed by the Office of Attorney General.