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Credit Repair Scam Victims Get Refunds

The Federal Trade Commission is sending refunds totaling nearly $150,000 to individuals who lost money to a company called Grand Teton Professionals, which operated a bogus credit-repair scheme.

According to the FTC, Grand Teton Professionals targeted consumers with false promises of substantially improving their credit scores by claiming to remove all negative items and “hard” credit inquiries (which can often change a consumer’s credit score) from their credit reports. Additionally, the defendants illegally charged upfront fees for their services and advised customers to mislead credit bureaus and lenders, as well as threatening consumers with lawsuits when they complained or disputed charges.

The FTC will send 2,782 refunds through PayPal averaging about $53 each. People who get a refund via PayPal will have 30 days to accept the payment.

The FTC never requires consumers to pay money to get a refund payment.

Consumers who do not get a refund and think they should have or consumers who have any questions about the refunds should contact the refund administrator, Analytics, at 844-965-2441.

The FTC’s interactive dashboards for refund data provide a state-by-state breakdown of FTC refunds.

In 2019, FTC actions led to more than $232 million in refunds to consumers across the country. The Federal Trade Commission works to promote competition, and protect and educate consumers. For more information about consumer topics or to report fraud, call 1-877-FTC-HELP (382-4357).