Consumers caught in the crosshairs of deceptive debt settlement practices in Pennsylvania can breathe a little easier today after Attorney General Sunday secured over half a million dollars in refunds, ending Accelerated Debt Settlement, Inc.'s unlicensed operations. According to a recent announcement from the Office of the Attorney General, the company and its affiliates purported to help consumers reduce or settle overwhelming debts but were found demanding illegal upfront payments instead.
Under the terms of the settlement, the company will return $550,000, of which $500,000 is earmarked for consumer restitution, and what this means for those deceived is that finally, there's some redress coming their way, with the settlement also imposing a ban on the entities from advertising or providing services in the state until they get the proper authorizations. "Everyone is looking for avenues to minimize or erase debt, and these companies preyed on consumers looking for a lifeline," Attorney General Sunday noted, reflecting the predatory nature of the operations, which placed financial burdens on already stretched-thin individuals. Consumers eligible for refunds can expect checks ranging from $2,850 to $19,998, disbursed directly by the Attorney General's Office.
The avenues for defrauded consumers to reclaim their losses don't end with the current settlement. Additional victims of the illicit practices have a 90-day window to complain to the Office of Attorney General to qualify for a refund, with the option to submit grievances online, dial in at 1-800-441-2555, or reach out via email to [email protected]. The entities associated with Accelerated Debt Settlement, Inc., including Accelerated Debt Solutions, Accelerated Debt Settlement LLC, and Financial Services Group, LLC, had previously refunded over $55,000 to consumers through mediation initiatives of the Bureau of Consumer Protection.
