CreditBuilder Lawsuit: Refunds Coming!

Dun & Bradstreet has been sued by the Federal Trade Commission (FTC) for their CreditBuilder program. If you purchased this program, you may be due a refund, per the settlement agreement.

If you buy or sell credit repair software, beware! This lawsuit by the FTC will have far-reaching effects. The best thing you can do is to learn from the (expensive) mistakes of others.

Those who purchased CreditBuilder were led to believe the annual subscription was $499. What was unclear is that they could end up being charged $1,599 per year for an additional product, without adequate notice of the change.

In addition, the FTC said they were in violation of the FTC Act for failure to provide a reasonable means for customers to dispute misinformation on their Dun & Bradstreet credit reports.

The proposed settlement requires D&B to refund all the businesses that purchased CreditBuilder between April 2015 and May 2020, as well as give many current customers the opportunity to cancel their subscriptions and get refunds.

If this pertains to you, keep an eye out for the proposed order to be published in the Federal Register.

If you are purchasing any type of credit improvement software, read all the fine print and ask questions. If you are developing and/or selling credit improvement software, take care to be 100 percent transparent with your customers. The FTC does not take kindly to customers being taken advantage of.

Source to read more here

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