GREEN BAY, Wis. (WBAY) – This week, the Federal Trade Commission (FTC) announced that checks are in the mail for nearly 11,000 victims of a credit card interest rate reduction scheme.
The FTC says the checks total more than $11 million, and are for victims of a scheme operated by E.M. Systems and Services, who used a variety of fake business names and websites to cold call people with credit card debt.
The scammers promised to reduce their credit card interest rates to save them thousands of dollars, but they then charged an upfront fee, which was anywhere between $700 and $1,500.
Now, those who filed complaints are getting money back, with the average payment being $995.
In Wisconsin alone, authorities say a combined total of $397,000 is going out to 395 people.
Anyone who does receive a check should deposit or cash their checks within 90 days, which is indicated on the check. The FTC never requires people to pay money or provide account information in…