FTC Issues Checks to 5,000+ Victims of Debt Collection Scheme

April 4, 2017, Written By Natalie Rutledge
FTC Issues Checks to 5,000+ Victims of Debt Collection Scheme

Victims of the Rincon Debt Management scheme are finally getting their money back. The Federal Trade Commission is in the process of mailing 5,232 checks worth a total of $2.7 million.

In 2014, the FTC seized $3.3 million worth of assets from Jason Begley and Wayne Lunsford, the primary owners of Rincon, to cover the refunds. The defendants were permanently banned from debt collection. During their operation, they used aggressive tactics to collect debts from people who were “strapped for cash,” telling them they were going to be sued or arrested if they didn’t pay their debt. In many cases, Rincon workers collected money on debts that were not actually owed.

The amount of money on each refund check varied from person to person, with the average being $525. The FTC said recipients should cash or deposit their checks within 60 days. The organization itself will not charge a fee for cashing or depositing the check, but some check-cashing locations or financial institutions may require a fee for their services.

The FTC provides updates about all current and past refunds on their website, along with contact information where refund recipients can monitor the status of their reimbursements.

The information contained within this article was accurate as of April 4, 2017. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Natalie Rutledge

Natalie Rutledge majored in Communications at Mississippi State University. She was in sales for a number of businesses and spent nine years working as a communications advisor to various entities. Natalie can be contacted directly at natalie@lowcards.com
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