DENVER (AP) — A Westminster debt settlement company and its owner have been ordered to pay $165,000 after the firm was accused of failing to follow Colorado regulations.
The Colorado Attorney General's Office said Monday that if Prestige Financial Solutions Inc. and owner Amy Thompson default on the payments, they will have to pay $2 million more. The $165,000 is for restitution, reimbursement of costs and attorneys' fees, and educational purposes.
Prestige had been accused of several violations, including failing to provide required consumer disclosures.
The attorney general's office says Prestige and Thompson have agreed to be permanently enjoined from providing debt-management services to Colorado residents. Existing clients can continue receiving Prestige's services at no cost or end service for a full refund of their trust account balances.