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 Posted: Tue May 06, 2008 4:33 am Subject: CHASE BANK SUED FOR "SOFT DEBT COLLECTING" |
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California.
JP Morgan Chase bank and several credit counseling agencies were sued for what the Plaintiff's attorneys call "soft debt collecting" and circumvention of the Fair Debt Collection Practices Act.
The class action lawsuit alleges that Chase Bank through its various so called "not-for-profit" credit counseling agencies are nothing more than soft debt collectors.
The 95 page class action complaint filed in the Central District of California alleges that he credit counseling industry is a scam and that representations that credit counseling companies "negotiate with credit card companies" is false advertising.
The suit claims that credit counseling agencies have pre-arranged deals with banks and the criteria that accepts consumer proposals is already established by the banks.
Accordingly, consumers are duped into thinking that the negotiations with the banks are arm's length when in reality they are not.
The suit seeks a return of all monies paid to Chase Bank in connection with debt management plans.
Source: Pacer
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WE SUE BANKS
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| Posted: Tue May 06, 2008 5:06 am Subject: |
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Thanks for that info!
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volleyballmom
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