Impacted Consumers will Receive Checks Ranging from $2,850 to $19,998
HARRISBURG – Attorney General Sunday announced a settlement with Accelerated Debt Settlement, Inc. and affiliates regarding the businesses misleading consumers into thinking they could shrink or settle debts and for demanding illegal, upfront payments.
Under the settlement, Accelerated Debt Settlement agreed to pay $550,000 — with $500,000 going to consumers who were harmed. Accelerated Debt Settlement and affiliates are also prohibited from advertising and selling services in Pennsylvania, until proper licenses are obtained.
“Everyone is looking for avenues to minimize or erase debt, and these companies preyed on consumers looking for a lifeline,” Attorney General Sunday said. “This settlement puts a stop to Accelerated Debt Settlement 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 and will range from $2,850 to $19,998. Prior to this settlement, the businesses issued more than $55,000 in refunds to consumers through the Bureau of Consumer Protection’s mediation efforts.
Additional consumers who may have been impacted by Accelerated Debt Settlement, Inc. have 90 days to file a complaint with the Office of Attorney General to be eligible for a refund. Consumers may file a complaint online, by phone at 1-800-441-2555, or email scams@attorneygeneral.gov.
Accelerated Debt Settlement, Inc. also does business as Accelerated Debt Solutions, Accelerated Debt Settlement LLC, and Financial Services Group, LLC.
An Allegheny County consumer who filed a complaint with the Bureau of Consumer Protection told the Office that “[Accelerated Debt Settlement] took complete advantage of me and my situation by misrepresenting themselves. I am very pleased that [the Office of Attorney General] was able to get all of my money back.”
The businesses allegedly failed to provide their services as advertised and accepted unlawful advance payments, ranging from $1,200 to $17,500. In doing so, the settlement alleges, these businesses engaged in a pattern of misconduct in violation of Pennsylvania’s Unfair Trade Practices and Consumer Protection Law, the Debt Settlement Services Act, and the Federal Telemarking Sales Rule.
This settlement was submitted for filing and is pending acceptance in the Allegheny County Court of Common Pleas by Senior Deputy Attorney General Amy L. Schulman.
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