Settlements for Household Finance Company Violations

Settlements for Household Finance Company Violations

Household finance companies are a great way to get a loan for a lot of different purposes. They are also good at ensuring that you will make your payments on time, and they have the ability to give you a lower rate of interest than you might be able to find at other lenders.

Settlement with FTC

If you’ve ever been contacted by a debt collector, you may be eligible to receive compensation through a settlement with the Federal Trade Commission for household finance company violations. These companies, including Vivint Smart Homes Inc, Avant Financial Services, Direct Lending Source, and Passport Automotive Group, have been accused of misleading consumers about their credit reports and charging unauthorized fees.

The FTC’s settlements with these companies total up to $700 million in relief, and all will be returned to injured consumers.

The Vivint Smart Home Settlement includes a monetary judgment and injunctive provisions to stop unfair and deceptive business practices and implement an identity theft prevention program. It also requires Vivint to establish a Customer Service Task Force to verify accounts before turning them over to debt collectors.

The FTC’s settlement with Passport Automotive Group, a DC-based auto financing company, will require the …

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