Attorney General forces SmartBuy to settle ove $9.5 million in debt with soldiers
A settlement with a business that the state accuses of taking advantage of local soldiers will mean victim's will see their debt wiped clean.
The New York State Attorney General's Office announced Monday that SmartBuy has agreed to settle over $9.5 million worth of debt owed to it. SmartBuy had a store at the Salmon Run Mall from 2005 to 2010 in which it sold electronic equipment, including televisions. An investigation revealed that the business specifically targeted soldiers, often convincing them against paying with cash and instead through a credit plan. The plan saw unreasonable interest rates and inflated prices.
The agreement also calls for the victims' credit reports to be cleared of negative ratings
Copyright 2012 Newport Television LLC All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.