Peoples Credit First, Consumer Preferred, Consumer First Companies sued by Federal Trade Commission, Receiver Appointed Tampa Florida

The Federal Trade Commission sued Peoples Credit First, LLC and Consumer Preferred, LLC, f/k/a Consumer First, LLC, On November 10, 2003. The same day, the FTC received a Temporary Restraining Order from the Federal District Court in which the case was filed. The TRO enjoined Peoples Credit First and Consumer Preferred from further violations of Section 5 of the FTC Act, froze all of their bank accounts, and appointed a Receiver for the companies and charged him with investigating their activities. The Receiver has determined that the business of Peoples Credit First and Consumer Preferred will not be operated henceforth, and he is returning all new membership fees to the consumers who sent them.

Existing customers of Peoples Credit First and Consumer Preferred will not receive any refunds unless and until (i) the FTC ultimately prevails in its lawsuit, and(ii) the Receiver is able to liquidate the assets of Peoples Credit First and Consumer Preferred and raise funds to distribute. Consumers with specific questions may e-mail the Receiver.

Mark J. Bernet, Receiver - Tampa, Florida
U.S.A.

Mark
Tampa, Florida
U.S.A.