CFPB v. Payday Loan Debt Solution, Inc.
The CFPB investigated and brought suit against Payday Loan Debt Solution, Inc. or PLDS for violating consumer-protection laws.
PLDS is a debt-relief company that claimed to help consumers settle their payday loan debts. The CFPB found that PLDS regularly charged consumers a fee before it actually settled any of their debts. That violated the Federal Trade Commission’s Telemarketing Sales Rule, the Dodd-Frank Act, and the laws of various states. As a result, the CFPB brought suit to stop PLDS’s practices and to obtain compensation for harmed consumers. CFPB mailed checks to eligible consumers who were enrolled in a Payday Loan Debt Solution, Inc. (PLDS) debt relief program between October 27, 2010 and May 15, 2012.
The CFPB contracted with Epiq Systems, Inc. to administer payments and answer questions from consumers about this case. This matter is now closed.
For more information on this closed case, contact us at Consumer Financial Protection Bureau, Attn: OCFO, PLDS., 1700 G Street NW, Washington DC 20552.
November 21, 2013 – November 16, 2015: Distribution