Colorado Attorney General Settles With Debt-Management Firm

Denver Business Journal
February 4, 2013
Draper, Heather

The Colorado attorney general’s office has reached a settlement with Westminster debt-settlement company Prestige Financial Solutions Inc. and its owner, Amy Thompson. Prestige allegedly failed to meet the state's consumer-protection regulatory requirements. In January 2012, the AG's office accused it of providing debt-management services to Colorado consumers without providing mandatory consumer disclosures, cancellation notices, and Web site information. Prestige “may have entered into contracts with at least 720 Colorado consumers,” estimated AG John Suthers. Colorado clients of the firm may keep receiving Prestige’s services free of charge or terminate the services and receive a full refund of their trust account balances. Prestige and Thompson also are permanently banned from providing debt-management services for a fee to Colorado residents; and they must pay $165,000 for consumer restitution, reimbursement of legal costs, and educational purposes.
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