FTC Targets Credit Scams: I3 Merle Eugene Schwalen III, Score Optimization System SOS

[VeronicasT]

My jurisdiction is: Texas

Hi, All,

Can consumers get their money back from fraudulent credit repair scams?

I just went thru a lot of lost cash and pain dealing with a fraudulent Credit Repair Agency.

The reason I'm posting this is just to hopefully help someone else by warning them away from these companies.

Lets just say i wish someone had warned me about just ONE of the 36 companies described in this pdf file....

Google this FTC file to find out more... 081023sweeplist.pdf

Vern
:no:


Here is an example I found posted on the web, described in this FTC document...

I3 SOLUTIONS INC, GENE SCHWALEN: Cease & Desist issued to i3 Solutions, Inc., Texas (Merle Eugene Schwalen III, CEO), by NC Attorney General.

Item 1. N Carolina Attorney General Roy Cooper issues Cease and desist letter to i3 Solutions (McKinney, Texas) on March 6, 2008.

Item 2. Federal Trade Commission 'Operation Clean Sweep' crackdown on credit repair companies.

Item 3. NC Attorney General demanded following companies stop chargingconsumers upfront fees for credit repair in violation of state law: I3Solutions, Inc., McKinney; Texas, et al.

Item 5. Noelle Talley, NC Public Information Officer 919-716-6484.

 

[Michael Wechsler]

I'm sorry to hear about your credit repair scam experience. Who are you hoping to recover money from, exactly? The Attorney General will conduct a criminal investigation. Chances are you won't see your money coming back from these companies unfortunately. There would also be a civil case that would likely be filed but most of these companies don't have assets remaining by the time the AG gets involved. Best of luck to you.