Tierney L. cross / Bloomberg via Getty Images
Takeaways from the Key Notes
- CreditRepair.com or Lexington Law may have charged you illegal upfront charges, and you could be entitled to a full refund from Dec. 5, through Jan. 5.
- The CFPB has distributed $1.8 billion to compensate the 4.3 millions consumers who paid junk fees to credit repair firms.
- JND Legal Administration will send a cheque to the affected consumers.
Consumers who were affected by a CreditRepair.com or Lexington Law credit repair scheme will receive a redress check from the Consumer Financial Protection Bureau.
On Thursday, the bureau announced that it would collect $1.8 billion in redress from the companies, the largest amount ever distributed to victims by the CFPB. In an investigation, the consumer watchdog of the federal government found that consumers were either charged unjustified fees or exposed to misleading advertising.
The CFPB has collected your information from the companies and details about fees you paid. You can receive your refund after the CFPB collects the information you provided to the company and the information on the fees that were paid. CFPB stated that the money may not be enough to cover the total amount of fees paid but it will still reflect the proportion.
Between Dec. 5, and Jan. 5, consumers should get money from CFPB’s Victims Relief Fund. If you have not received a check from JND Legal Administration but think you are eligible, you can reach out to them here.
Correction, Dec. 5, 2024: A previous version of this article misstated the amount the CFPB will distribute in redress checks — it's $1.8 billion.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
