FTC Shuts Down Texas Debt Collector Who Threatened To Arrest Consumers

Debt collection is a generally unsavory operation. Thankfully, there’s now one less scummy, lying collector calling consumers. A Houston-based company is out of business and must pay $1.4 million after being charged with unsavory practices.

Under a settlement with the FTC, the operators of Goldman Schwartz, Inc., are permanently banned from debt collection and company owner Gerald Wright must surrender all assets, valued at $550,000, to pay restitution to consumers who were charged unauthorized late and attorney fees. The remainder of the $1.4 million judgement is suspended based on inability to pay.

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