On January 31, 2013, the Federal Trade Commission (“FTC”) announced that a U.S. District Court has shut down a Texas based debt collection operation that allegedly used insults, lies, and false threats to collect on payday loans. As part of their continuing efforts to crackdown on scams that target consumers in financial distress, the FTC requested the shutdown of the debt collection outfit after filing a complaint against Goldman Schwartz, Inc., three affiliated companies, and three individuals who own or manage them.
The complaint charged that the Houston-based operation did business nationwide collecting debts for numerous payday loan companies, including Ace Cash Express, Advance America, Allied Cash Advance, Checkmate, First Cash Advance, and MoneyMart. The company also used several different names including Cole, Tanner & Wright, Debtcom, Inc, Goldman, Schwartz, Leiberman & Stein and Harris County Check Recovery.
If you would like to read more about this case and others, visit our Case Studies Library.
FTC Shuts Down Payday Loan Debt Collecting Scam
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