The Federal Trade Commission (FTC) has announced it is distributing over $5 million in refunds to consumers affected by a misleading credit card debt relief operation known as ACRO Services. This action follows a lawsuit filed by the FTC in November 2022 against ACRO Services and its associated entities, which included names like American Consumer Rights Organization, Consumer Protection Resources, Reliance Solutions, Thacker & Associates, and Tri Star Consumer Group.
The lawsuit accused the company and its owners of running a deceptive telemarketing scheme that falsely promised significant reductions or elimination of credit card debt within 12 to 18 months. Consumers were charged unlawful upfront enrollment fees amounting to thousands of dollars and monthly fees ranging from $20 to $35 for supposed "credit monitoring" services.
The individual defendants have agreed to a settlement order that permanently prohibits them from participating in the debt relief and telemarketing sectors. They are also required to surrender assets to fund consumer refunds. Additional funds for this distribution were obtained from the FTC's case against BlueSnap, a payment processor involved with ACRO Services.
Checks will be sent out to 7,687 affected consumers. Recipients are advised to cash their checks within 90 days as indicated on the check itself. For inquiries regarding payments, consumers can contact JND Legal Administration at 877-753-2846 or visit the FTC website for more information on the refund process. The FTC emphasizes that it never requires individuals to pay money or provide account details for receiving a refund.
According to interactive dashboards provided by the Commission, there is a state-by-state breakdown of refunds related to FTC cases. In 2023 alone, actions by the FTC resulted in $330 million being refunded to consumers nationwide.
The Federal Trade Commission's mission is centered on promoting competition while protecting and educating consumers. It assures that it will not demand money, make threats, request money transfers, or promise prizes. For more consumer-related information or to report fraud and scams, individuals can visit consumer.ftc.gov or ReportFraud.ftc.gov.
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