COLUMBIA, S.C. — A high-interest loan scheme that targeted veterans and pensioners in South Carolina and around the country has led to a settlement. Now, state officials are working to let victims know if they're eligible.
The South Carolina Department of Consumer Affairs announced on Friday that some in South Carolina are already receiving settlement checks. However, others still have an opportunity to submit a claim.
Victims in the cases were convinced that they could sell their pension and disability payments - transactions that were actually illegal high-cost loans in disguise.
The state agency said that it began investigating South Carolina attorneys Candy Kern-Fuller, Howard Sutter III, and their company, Upstate Law Group, in 2018 following a consumer complaint. The agency said a joint effort between the Consumer Financial Protection Bureau (CFPB) and the Arkansas Attorney General's Office led to a settlement in 2021.
CFPB is now issuing $6 million in financial relief to people harmed by ULG and other groups "engaged in illegal lending."
The South Carolina Department of Consumer Affairs is contacting consumers who filed a complaint but said most will get a refund check automatically through Rust Consulting.
South Carolina residents can still submit a claim until March 26. Claims must be submitted online or postmarked by that date.
Others who want to check on the status of their payments can call 1-877-552-1282 or email Rust Consulting.
