Mark Iandolo Jul. 14, 2016, 8:23pm

WASHINGTON (Legal Newsline) – The Federal Trade Commission (FTC) announced that two debt collectors and three companies have been banned from the debt collection business through settlement after allegations of using false threats and other illegal collection tactics.

The FTC charged the defendants last October, claiming that they were using intimidation and lies to deceive consumers into paying debts. After the charge, a court put a halt on the alleged operation, freezing the defendant’s assets pending the outcome of the FTC’s case.

The defendants then agreed to a stipulated final order in which they will be banned from collecting debt and misrepresenting facts. The defendants were also given a $4,802,646 judgment, which will be partially suspended. Luis O. Carrera must pay $59,207 and Roberto Llaury must pay $50,562.

The corporate defendants are BAM Financial LLC, also doing business as West and Associates, Chelsea & Associates, and Chelsea Financial; Everton Financial LLC, also doing business as West and Associates; and Legal Financial Consulting LLC, also doing business as West and Associates Services.

The FTC voted 3-0 to approve the proposed stipulated final order.

Organizations in this Story

U.S. Federal Trade Commission
600 Pennsylvania Ave NW
Washington, DC 20580

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