There may be a $25 refund check arriving in your mail box soon, if you got ripped-off by a telemarketing firm that promised you a lower credit card interest rate in exchange for an advance fee. The Federal Trade Commission (FTC) is doling out refund checks for $25.13 each to more than 4,800 customers from a settlement with National Card Monitor (NCM).
Last July the FTC busted Arizona-based NCM. Under the settlement agreement NCM agreed to provide the FTC with lists of consumer victims and to have company assets frozen by the court.
The FTC’s refund administrator in this matter is Gilardi & Co. Consumers who have questions about the refund program or whether they may still qualify for a refund can call Gillard’s hotline number at 1-877-295-8829.
Consumers may also visit http://www.consumer.ftc.gov for more information.
According to the FTC, starting in early 2011, NCM cold-called consumers nationwide and falsely claimed it could get one or more low-rate credit cards for consumers, onto which they could then transfer their current balances. During the call, National’s telemarketers requested an advance fee of between $499 and $599 from consumers, assuring them that they would get a full refund if they did not get a new card.
The FTC contends National Card Monitor was not registered with the National Do Not Call Registry, never paid to access the Registry, and typically called consumers whose numbers were on the Registry.
As part of the FTC settlement, the defendants behind NCM are banned from all telemarketing, and from marketing or selling “credit related products or services.”
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online https://www.ftccomplaintassistant.gov/#crnt&panel1-1 or call 1-877-FTC-HELP (1-877-382-4357).
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