If you took out an online payday loan from a company affiliated with AMG Services, you may be getting a check in the mail from the FTC. The $505 million the FTC is returning to consumers makes this the largest refund program the agency has ever administered.
The FTC sued AMG and Scott A. Tucker for deceptive payday lending. When consumers took out loans, AMG said they would charge a one-time finance fee. Instead, AMG made multiple illegal withdrawals from peoples’ bank accounts and charged hidden fees. As a result, people paid far more for the loans than they had agreed to.
In 2016 the FTC won a court case against AMG and Scott Tucker. Then in 2017, a jury convicted Tucker and his attorney of crimes related to the lending scheme. The FTC and Department of Justice are using money obtained in both court actions to give refunds to consumers.
Here are answers to questions about AMG refunds.
Who will get a refund? Checks are being sent to consumers who took out loans between January 2008 and January 2013 from these AMG-related companies: 500FastCash, Advantage Cash Services, Ameriloan, OneClickCash, Star Cash Processing, UnitedCashLoans, and USFastCash.
How many people will get refunds? More than 1.1 million people will get refunds.
How does the FTC know who to send the checks to? The FTC and a refund administrator have used AMG’s business records to identify eligible consumers and calculate their refunds.
I’m eligible for a refund. What do I need to do? If you borrowed from one of the lenders listed above between January 2008 and January 2013, you don’t need to do anything. The checks are being mailed to eligible consumers automatically. There is no application process. If you borrowed from one of those lenders before January 2008, please call 1-866-730-8147.
How can I get more information? Visit the FTC’s AMG refund page or call 1-866-730-8147.
Three tips from the FTC:
- If you get a check, deposit or cash it within 60 days.
- The FTC never asks people to pay money or give information to cash refund checks. If someone asks you to pay to get a refund from the FTC, it’s a scam.
- The FTC has advice if you’re thinking about a payday loan or an online payday loan.
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In reply to I thought check was a scam as by MiMi311
Please call the company the FTC hired to manage the refund process. That is Rust Consulting, at 1-866-730-8147.
In reply to I thought check was a scam as by MiMi311
In reply to We just got ours today. Late, by Drhoades
In reply to The letter you got from the by FTC Staff
In reply to bellie...I received a check by deanie oct 3
In reply to bellie...I received a check by deanie oct 3
In reply to Yes it is. I just cashed by Bellie
In reply to Is this really legit? by Mouse1958
In reply to I received mine yesterday, I by surprised
In reply to Is this really legit? by Mouse1958
In reply to I got a check also BUT do not by TakaThings
In reply to Is this really legit? by Mouse1958
In reply to Is this a scam. I just by mccarsli
Did you get a check from the FTC? Checks from the FTC are legitimate. When you get a check from the Federal Trade Commission, it comes with a letter that explains why you got the check and gives details about the case. You and your bank can go to www.FTC.gov/AMG for details about the refund. You can call the company that the FTC hired to manage the refund process at 1-866-730-8147. If you get a check, you should cash or deposit it within 60 days.
In reply to Did you get a check from the by FTC Staff
In reply to Did you get a check from the by FTC Staff
In reply to Is this a scam. I just by mccarsli
In reply to Is this a scam. I just by mccarsli
In reply to Is this really legit? by Mouse1958
In reply to Is this really legit? by Mouse1958
In reply to Is this really legit? by Mouse1958
In reply to Yes, it's legit...Has anyone by Sandybeaches62
The letter you got from the FTC said your check is a partial refund. “Partial refund” means that the amount of your check is less than the total amount you paid to AMG Services, Inc. when it illegally charged you undisclosed and inflated fees. The FTC has sent out all the money that is available.
In reply to The letter you got from the by FTC Staff
In reply to Bridgette/ it seems unfair by KL
All the letters the FTC sent out say the check is a partial refund. The letters say "partial refund” because the amount of your check is less than the total amount you paid to AMG Services, Inc. when it illegally charged you undisclosed and inflated fees. The FTC has sent out all the money that is available.
In reply to All the letters the FTC sent by FTC Staff
In reply to All the letters the FTC sent by FTC Staff
In reply to All the letters the FTC sent by FTC Staff
In reply to Bridgette/ it seems unfair by KL
In reply to Bridgette/ it seems unfair by KL
In reply to The letter you got from the by FTC Staff
In reply to The letter you got from the by FTC Staff
In reply to so that mean that another by bigtexas672010
No, that does not mean another check is coming.
The letter you got from the FTC said your check is a partial refund. “Partial refund” in this case means that the amount of your check is less than the total amount you paid to AMG Services, Inc. when it illegally charged you undisclosed and inflated fees. The FTC has sent out all the money that is available.
In reply to No, that does not mean by FTC Staff
In reply to No, that does not mean by FTC Staff
In reply to The letter you got from the by FTC Staff
In reply to The letter you got from the by FTC Staff
In reply to Received a check yesterday by RICKY1954
The letter you got from the FTC said your check is a partial refund. “Partial refund” means that the amount of your check is less than the total amount you paid to AMG Services, Inc. when it illegally charged you undisclosed and inflated fees. The FTC has sent out all the money that is available.
In reply to The letter you got from the by FTC Staff
In reply to The letter you got from the by FTC Staff
In reply to Yes, it's legit...Has anyone by Sandybeaches62
In reply to Yes, it's legit...Has anyone by Sandybeaches62
In reply to Yes, it's legit...Has anyone by Sandybeaches62
In reply to Yes, it's legit...Has anyone by Sandybeaches62
In reply to Yes thinking more is coming. by Mollyduke
The letter you got from the FTC said your check is a partial refund. “Partial refund” means that the amount of your check is less than the total amount you paid to AMG Services, Inc. when it illegally charged you undisclosed and inflated fees. The FTC has sent out all the money that is available.
In reply to The letter you got from the by FTC Staff
In reply to Those people that received a by Sassy
The Federal Trade Commission, working with the US Department of Justice, mailing 1,179,803 refund checks totaling more than $505 million to people.
The amount of a check was based on the amount a person lost from illegally charged fees on certain loans: the loans they took before January 2013 with a company affiliated with AMG Services. Each person will get a refund for a percentage of the amount they lost from the illegally charged fees.
In reply to The Federal Trade Commission, by FTC Staff
In reply to The Federal Trade Commission, by FTC Staff
In reply to I remember getting a loan by Tshawdogg
You can call the company that the FTC hired to manage the refund process at 1-866-730-8147.
In reply to You can call the company that by FTC Staff
In reply to The letter you got from the by FTC Staff
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