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FTC Refunds Millions Following Debt Collection Scam

According to a recent post from the Federal Trade Commission, the FTC is returning nearly $4 million dollars to individuals harassed by the Asset & Capital Management group. This is the largest FTC debt collection refund program to date.

Asset & Capital Management Group is a debt collection agency which has operated on multiple fake names, using deceptive and abusive tactics in an attempt to collect credit card debt. According to the FTC, the scammers threatened lawsuits, wage garnishments, property seizure and arrest. Furthers, agents of the group informed employers, colleagues and family members of the debt they were trying to collect. These are unlawful debt collection practices.

As a result, a recent  federal court order has permanently banned Asset & Capital Management Group from the debt collection business.  For more information on this FTC refund visit the Federal Trade Commissions website.