Financial Advice

FTC Returns Money to Victims of Debt Collection Scheme

The Federal Trade Commission is mailing 5,232 checks totaling more than $2.7 million to people who lost money to Rincon Debt Management, a debt collection scheme that focused on people who were strapped for cash. The company’s owners are banned from the debt collection business.

People who lost money are getting back the full amount of fraudulent fees the defendants added to their debt, an average of $525. Recipients should deposit or cash checks within 60 days. The FTC never requires people to pay money or provide account information to cash refund checks.

People who have questions about the case can contact the refund administrator, Analytics, at 844-330-6742.

To learn more about the FTC’s refund program, visit www.ftc.gov/refunds.

The Federal Trade Commission works to promote competition, and protect and educate consumers.

This article by the FTC was distributed by the Personal Finance Syndication Network.

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