FTC Sends Refunds to Victims of Credit Repair Scam

The Federal Trade Commission is sending refunds totaling nearly $150,000 to individuals who lost money to a company called Grand Teton Professionals, which operated a bogus credit-repair scheme.

According to the FTC, Grand Teton Professionals targeted consumers with false promises of substantially improving their credit scores by claiming to remove all negative items and “hard” credit inquiries (which can often change a consumer’s credit score) from their credit reports.

Additionally, the defendants illegally charged upfront fees for their services and advised customers to mislead credit bureaus and lenders, as well as threatening consumers with lawsuits when they complained or disputed charges.

The FTC will send 2,782 refunds through PayPal averaging about $53 each. People who get a refund via PayPal will have 30 days to accept the payment.

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