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May 30, 2012 4:53 PM by Alyse Rzemek

Debt company to pay $14M in fines, restitution

DENVER (AP) - The Colorado attorney general says a Dallas debt-resolution company and its president will pay nearly $14 million in penalties and restitution to the state and former clients for violating state laws.

Attorney General John Suthers said Tuesday Credit Solutions of America and Doug Van Arsdale will each pay $5 million in civil penalties. They will also pay a total of $3.8 million in restitution to nearly 2,700 consumers who contracted with the company.

Suthers says the company failed to renew its registration to operate in Colorado after 2009.

The company was also accused of violating provisions of the Colorado Debt Management Services Act.

No current phone listings could be found for the company or Van Arsdale.

 

 

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