Servicemembers and veterans who were misled and defrauded by Harris Jewelry’s unethical financing and sales practices can now claim refunds. Following a major settlement in 2022, led by the Federal Trade Commission (FTC) and New York Attorney General Letitia James, Harris Jewelry was held accountable for deceptive practices targeting military personnel. This settlement offers millions in refunds, debt forgiveness, and credit score corrections.
Eligible consumers must act promptly to take advantage of these refunds, as the claims window is only open for a limited time, closing on December 21, 2024.
Table of Contents
Background The Harris Jewelry Scam
Harris Jewelry, a Long Island-based retailer, specifically targeted active-duty servicemembers, veterans, and their families. The company used deceptive marketing tactics, claiming that financing jewelry purchases through their programs would boost credit scores. In reality, these purchases involved overpriced, poor-quality items and saddled buyers with high-interest loans.
Key Allegations Against Harris Jewelry
Misleading Financing Claims: The company falsely promised that financing purchases would improve credit scores.
Mandatory Protection Plans: Harris Jewelry misrepresented protection plans as mandatory and added them without consumer consent.
Military Lending Act Violations: The company violated laws designed to protect servicemembers from predatory lending practices.
These deceptive practices led to financial distress and damaged credit scores for thousands of servicemembers and veterans.
The 2022 Settlement Agreement
In July 2022, a coalition led by the FTC and attorneys general from 18 states secured a landmark settlement against Harris Jewelry. This agreement provides relief in the form of refunds, debt cancellation, and credit score corrections. The settlement terms include:
Debt Forgiveness: Cancellation of $21.3 million in outstanding debt for over 13,000 servicemembers.
Refunds for Protection Plans: Refunds totaling $12.8 million for over 46,000 servicemembers who paid for unnecessary lifetime protection plans.
Credit Score Corrections: Assistance in deleting negative credit entries related to Harris Jewelry purchases.
Dissolution of Harris Jewelry: The company was ordered to cease operations permanently.
This settlement is a powerful reminder that servicemembers and veterans, who sacrifice so much for their country, deserve protection from predatory businesses. As Attorney General Letitia James stated:
“Our military members put our protection above their own, and my office will continue to protect them from predatory businesses.”
The swift action by the FTC and multiple state attorneys general ensures that justice is served and financial harm is mitigated for those who were misled.
Act Now Limited Time to Claim Your Refund
The deadline to file your refund claim is December 21, 2024. Don’t miss this opportunity to recover the money that is rightfully yours. If you’re a servicemember or veteran affected by Harris Jewelry’s practices, take action today to secure your refund and restore your financial wellbeing.
For more information, visit the FTC’s website or the New York Attorney General’s office to stay informed on consumer protection initiatives.
Protect Yourself from Fraud
The FTC reminds all consumers to remain vigilant and avoid scams. The FTC will never demand money, threaten you, or promise prizes in exchange for personal information. Report any suspicious activity toReportFraud.ftc.gov.
FAQs
What if I already filed a claim but haven’t received a response?
If you previously filed a claim but haven’t heard back, you should still submit another claim through the reopened portal before the deadline. The claims process has been extended to ensure everyone has sufficient time to receive their refunds.
What happens to my outstanding debt with Harris Jewelry?
If you have any outstanding debt with Harris Jewelry, the settlement agreement requires the company to:
Cancel your remaining balance.
Set your account balance to $0.
Assist in correcting any negative credit reports associated with this debt.
How much money has been recovered for consumers in this settlement?
The settlement recovered a total of $34.2 million, including:
$21.3 million in canceled debt for over 13,000 consumers.
$12.8 million in refunds for more than 46,000 consumers who paid for protection plans.
What deceptive practices did Harris Jewelry engage in?
Harris Jewelry was accused of several violations, including:
Misleading servicemembers into believing that financing jewelry through them would improve their credit scores.
Adding protection plans to purchases without consumers’ consent.
Violating the Military Lending Act and other consumer protection laws.
Selling overpriced, low-quality jewelry through high-interest financing plans.
What if I still have questions or need assistance?
You can contact:
The New York State Attorney General’s Office at (315) 523-6080.
Harris Jewelry’s customer support at 1-800-989-7732 (Monday to Friday, 9:00 AM to 5:30 PM ET).
No. As part of the settlement, Harris Jewelry was required to shut down operations and dissolve the business once it fulfilled its obligations, including refunding consumers and canceling debts.
What should I do if I encounter a scam related to this refund process?
If you encounter any suspicious activity or believe you’re being targeted by a scam, report it immediately to the FTC at ReportFraud.ftc.gov.
What is the deadline to file for a refund?
The current claims process is open until Saturday, December 21, 2024. Be sure to file your claim before this date to receive your refund.
Conclusion
This settlement is a crucial step in protecting those who serve our country. Ensure you claim your refund before the deadline and share this information with others who may have been affected. Justice for servicemembers and veterans is long overdue, and this settlement provides an opportunity to rectify financial harm caused by deceptive business practices.
