SACRAMENTO, CA - The Federal Trade Commission is targeting two local companies that claim they can reduce a car owner's monthly payments.
Folsom-based Hope for Car Owners and Roseville-based Vehicle Loan Modification are accused of false advertising and deceptive practices in separate civil lawsuits filed in Sacramento.
On its website, Hope for Car Owners claims a 99 percent success rate and a money-back guarantee.
The FTC complaint says the company collected as much as $500 upfront and, in numerous incidents, failed to even contact the lender. The complaint also says the company refused to honor refund requests.
The complaint against Vehicle Loan Modification, which operates the website vehicleloanmod.com, is nearly identical.
On its website, Help for Car Owners lists its address as a private mailbox at a UPS Store in Folsom.