FTC Sends Checks to People Who Paid to Lower Their Credit Card Interest Rates
The FTC is sending payments totaling more than $557,000 to people who paid money to YF Solution, a Florida-based telemarketing company that promised credit card interest rate reductions and regularly failed to deliver. The company used several names including GDP Network.
In July 2020, the FTC and the Florida Office of the Attorney General sued YF Solution and its owners. According to the lawsuit, the defendants pretended to be connected with credit card companies, made false claims about reducing credit card interest rates for customers, and charged customers as much as $3,995 in upfront fees for debt relief services. Customers who paid the defendants didn’t get lower interest rates. In fact, customers often ended up with more debt than when they started. The defendants agreed to settlements that ban them from the debt relief industry and required them to pay money to provide refunds. As a result, the FTC is sending 611 refunds checks.
If you get a check, please cash it within 90 days.
You can find answers to common questions about FTC refund payments on our FAQ page. If you have any other questions, please call the refund administrator at 1-844-633-0708.