Comments on: Central Payment Corporation Review

By: Merchant Maverick Admin

Merchant Maverick Admin — Wed, 18 Aug 2010 06:55:03 +0000

Thanks for the clarity John! As I mentioned in my previous statement, I almost didn't approve Rob's comment because I think it's irrelevant to CPC, and the way it conducts business today. Regardless, I appreciate you taking the time to address it.

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By: John Hinkle, Esq

John Hinkle, Esq — Mon, 16 Aug 2010 20:08:40 +0000

The public should understand that: 1. Central Payment is not affiliated, related, or in the same industry to the company referenced in the FTC complaint. 2. The issues in the complaint date to 1997 concerning a company within which Mr. Matthew Hyman and Mr. Zachary Hyman were shareholders. This company no longer conducts business and was dissolved. 3. The FTC complaint was settled in 2001 without any admission of wrongdoing and without paying a fine to the FTC. The company did refund money to various customers. John Hinkle, Esq. CFO/General Counsel Central Payment Co, LLC

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By: Merchant Maverick Admin

Merchant Maverick Admin — Sat, 07 Aug 2010 06:45:53 +0000

Rob, I almost didn't allow this one to go through, because it's tiptoeing on one of my guidelines, but since it is public information, I'll allow it. With that said, I know these are some of the same guys that are running Central Payment Corporation. I was well aware of it when I wrote my review, but I'd be a hypocrite if I was to hold them accountable for past mistakes. Additionally, as Vicki sates, there are always two sides to a story, so I've chosen to focus mainly on how CPC is being run, and the performance of the company itself will determine the rating they receive on my site.

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By: Vicki S

Vicki S — Sat, 07 Aug 2010 06:33:13 +0000

I am curious as to what a listing service violation and credit card processing have in common. As common sense would know, there are always two sides to the story and the truth in the middle.

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By: Merchant Maverick Admin

Merchant Maverick Admin — Tue, 27 Jul 2010 19:57:13 +0000

Bill, Thank you for the comment, but I need details. I'd be more than happy to be proven wrong, because as you might know, I don't have any problem with updating my reviews, and/or lowering a providers rating based on facts that I might have missed. But, it's incredibly hard for me to give your comment any credibility whatsoever when you don't provide me with any sort of fact based information. Give me links, give me information, that is what will give your comment validity, otherwise I'll have to disregard it, or worse, delete it. I'll give you a few days to respond with some good info for all of us. In the meantime, I'll revisit the review to see if I missed out on anything.

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By: Bill Scudder

Bill Scudder — Tue, 27 Jul 2010 19:17:54 +0000

You say you don't find Merchant complaints But I have found dozens of them. Apparently you did not search for them Bill

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By: Rob Klien

Rob Klien — Fri, 23 Jul 2010 13:58:00 +0000

The truth will set u free

Matthew B. Hyman, Zachary A. Hyman, and Joshua Hyman, have agreed to settle Federal Trade Commission charges that they deceptively marketed and sold guide materials for auctions of foreclosed homes and repossessed vehicles. As part of the settlement,

California Defendants that Deceptively Marketed and Sold Auction Information Guides for Homes and Cars Agree to Pay Consumer Redress to Settle FTC Charges
, Matthew Hyman and Zachary Hyman are permanently banned from engaging in any business that sells or telemarkets home or vehicle information guides, or assisting others who sell or telemarket such guides. They have also agreed to pay $100,000 in consumer redress. The defendants already had paid $80,000 to the court-appointed receiver to be used as consumer redress. In addition, all of the defendants are prohibited from making deceptive claims that consumers could purchase repossessed or seized vehicles and foreclosed homes at government and private auctions for incredibly low prices and from engaging in practices that result in unauthorized credit card charges.

The FTC sued the defendants as part of its “Operation Auction Guides II” sweep, which targeted telemarketers that sold lists of foreclosed homes and car auction locations. In its June 2000 complaint, the FTC named Productive Marketing, Inc., doing business as Data Information Services, Data Services, National Property Services; Matthew B. Hyman and Zachary A. Hyman, also doing business as Formula Solutions and Foreclosure Solutions; and Joshua Hyman. In its complaint, the FTC alleged that the defendants debited or charged consumers’ checking and credit card accounts without authorization; charged consumers for two sets of materials even if consumers had only authorized the charge for one set or none; failed to disclose material conditions and restrictions of their refund policy; and made false and unsubstantiated claims that late model cars sold at public auto auctions for an average price of $1,400. The court immediately issued a temporary restraining order, freezing the defendants’ assets and appointing a receiver.

In two separate settlements announced today, the defendants are prohibited from making the types of misrepresentations charged in the complaint. Specifically, the defendants are prohibited from:

debiting and charging consumers’ bank and credit card accounts without authorization;
misrepresenting their refund policies;
making misrepresentations regarding the marketing and sale of information guides; and
making misrepresentations in the marketing and sale of any product or service, which will cover telemarketing of any product or service the defendants may attempt in the future.
The settlements prohibit all of the defendants from disseminating their customer lists.

The proposed settlement with Productive Marketing, Inc., and Matthew and Zachary Hyman further permanently bans them from advertising, marketing, offering for sale or selling information guides, and requires them to pay $100,000 in consumer redress, in addition to $80,000 already paid to the receiver for refunding defrauded consumers of Formula Solutions and Foreclosure Solutions. The settlement contains an avalanche clause which triggers a $16 million judgment if it is found that the defendants made any material misrepresentations or omissions on their financial disclosures to the FTC.

The settlement with defendant Joshua Hyman does not require him to pay consumer redress but contains a right to reopen provision should the FTC find that he made material omissions in his financial statement. Finally, both settlements contain various reporting requirements to assist the FTC in monitoring the defendants’ compliance.

The Commission vote authorizing staff to file the proposed settlements was 5-0. The stipulated orders were filed on January 16, 2001, in the U.S. District Court, Central District of California, Western Division, in Los Angeles, and requires the court approval. The FTC’s Northwest Region – Seattle – handled this matter.

NOTE: These stipulated orders are for settlement purposes only and do not constitute an admission by the defendants of a law violation. Stipulated order have the force of law when signed by the judge.

Copies of the settlements, previous documents relating to this case, and Operation Auction Guides II, are available from the FTC’s web site at http://www.ftc.gov and also from the FTC’s Consumer Response Center, Room 130, 600 Pennsylvania Avenue, N.W., Washington, D.C. 20580. The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint, or to get free information on any of 150 consumer topics, call toll-free, 1-877-FTC-HELP (1-877-382-4357), or use the online complaint form. The FTC enters Internet, telemarketing and other fraud-related complaints into Consumer Sentinel, a secure, online database available to hundreds of civil and criminal law enforcement agencies worldwide.

Media Contact:
Brenda Mack
Office of Public Affairs
202-326-2182

Staff Contact:
Nadine Samter or Mary Benfield
FTC Northwest Region – Seattle
206-220-4479 or 206-220-4472

(FTC Matter No. X000091)
(Civil Action No. 00-06502NM (BQRx)

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By: Merchant Maverick Admin

Merchant Maverick Admin — Tue, 13 Jul 2010 07:36:17 +0000

No problem Gwendolyn. You're welcome!

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By: Gwendolyn

Gwendolyn — Fri, 09 Jul 2010 18:53:24 +0000

I found this helpful. Thank you for a concise, easy to read and understand review.

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By: The Merchant Maverick

The Merchant Maverick — Fri, 11 Jun 2010 04:19:38 +0000

Nice! Thanks Dan.

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