Maine Attorney General William Schneider's office reached an agreement with Texas-based debt management company Credit Solutions of America Inc. to settle charges of unfair trade practices.
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The settlement, which also includes Douglas Van Arsdale, owner of Credit Solutions, resolves claims related to an advance-fee scheme where the company provided debt management serves to Maine consumers in exchange for fees of up to 15% of the negotiated debt.
Credit Solutions, in the consent judgment, agrees not to accept payments in advance of services and will not enter enrollment contracts with new Maine consumers. It also must pay $150,000 for the costs of investigation and litigation related to the case.
