FTC Has Court Power Down Collector of Fake Cash Advance Debts. In accordance with papers filed using the court, a message that is typical: “[T]his may be the Civil Investigations Unit.

Patrick Lunsford

A U.S. district court has granted a temporary restraining order halting an operation based in Atlanta and Cleveland that allegedly used deceptive and threatening tactics to collect phantom payday loan “debts” that consumers either did not owe, or did not owe to the defendants at the request of the Federal Trade Commission. The court purchase freezes the defendants’ assets to protect the chance of supplying redress to customers, and appoints a receiver. (more…)