November 20, 2014

Consumer Collection Advocates, Corp. agreed to stop operating an advance fee recovery scheme for the duration of the on-going litigation with the FTC. The FTC seeks to permanently stop the operation, which in the past year took close to $1.3 million from consumers, many of them elderly people who had lost money to timeshare resale and precious metal investment frauds. According to the FTC’s complaint, telemarketers for the company called consumers and falsely guaranteed that, for an up-front fee, typically 20 percent of the amount they lost, the defendants would recover substantial amounts of money for them – 60 percent or more – within 30 to 180 days. The FTC alleges few, if any, consumers received any money. FTC