Is Ameridebt still in business? Ameridebt was forced to shut down its debt consolidation operation as part of a settlement with the FTC. The Federal Trade Commission charges that it deceived consumers into paying at least $170 million in hidden fees. The FTC charged Ameradebt with misrepresenting that it was a non profit credit consolidation company and that it show consumers how to manage their money for no up front fees. The FTC also charged Ameridebt with deceptive business practices and with violating the Gramm Leach Bliley act by not providing customers with the required privacy notices.

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