Under the settlement, the consumer protection watchdog required Midwest Recovery Systems and Tumber to pay $56,748. It also required Tumber to sell his stake in another debt collection company and give the proceeds from the sale to the FTC.
Furthermore, the FTC required Midwest Recovery Systems to surrender all of its remaining assets and to contact credit reporting agencies to delete all debts pared on parked on consumers’ credit reports
The full amount of monetary judgment will become immediately payable if the FTC finds that the defendants misrepresented their ability to pay.
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