Federal Trade Commission

A consumer victory over sleazy debt collectors

A consumer victory over sleazy debt collectors

About $4 million worth of checks are now in the mail to partially compensate thousands of consumers who lost money to a group of sleazy Southern California debt collectors. According to the Federal Trade Commission, the checks close the book on a settlement reached last year with Asset and Capital Management Group, a debt-collection firm that purchased people's financial obligations from creditors for pennies on the dollar. The company's leaders then "falsely threatened consumers with lawsuits, wage garnishment, seizure of their property and arrest, and disclosed debts to consumers' employers, colleagues and family members," the FTC said. The case serves as a...