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Case ID: 2981 | Credit / Debt | 12/09/2003
A nationwide class action has been filed against debt management company CRS Financial Services, Inc. and two associated companies on behalf of all persons who used the companies’ debt management services from March 15, 1998, to the present. The action alleges that CRS violated the federal Consumer Protection Credit Act and the Florida Deceptive and Unfair Trade Practices Act when it failed to service their debts in a timely fashion. The action seeks unspecified compensatory and punitive damages.
The other two companies named as defendants in the action are the National Consumer Resource Center, Inc., and Advance Marketing Services, Inc. The companies offer debt management services that supposedly pay off consumers’ debts faster, reduce their interest rates, and improve their credit ratings. Consumers are required to pay an initial set-up fee and make additional monthly payments. The payments are supposed to be used to service customers’ debt in a timely manner. Named plaintiff Bill Shulman allegedly entered a contract with CRS in March 1997 for debt management services. The contract required CRS to establish a trust fund on Mr. Shulman’s behalf and use the funds therein to pay his creditors. Mr. Shulman paid an initial setup fee of $249 to CRS, and authorized the company to: (1) negotiate with his creditors, (2) make monthly payments to CRS, and (3) allow CRS to take a monthly fee of approximately $35 from his payments before distributing the remainder to his creditors. Though Mr. Shulman allegedly paid the amount required by CRS, he noticed that his monthly balances with several creditors continued to rise month after month, that late fees were applied to several accounts, and that some of his creditors began calling him to collect delinquent payments. The action alleges that there are thousands of other consumers across the nation who have had similar experiences with the companies. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Credit / Debt Cases of Interest A national class action has been filed against collection agency Allied Interstate, Inc. alleging that the company violated federal law in its efforts to collect outstanding debts for its clients. The action asserts that Allied's actions violate the federal Fair Debt Collection Practices Act (FDCPA), which prohibits debt collectors from engaging in abusive, deceptive and unfair practices. A nationwide class action has been filed in New York against Pressler & Pressler, P.A. The action is brought on behalf of all consumers who, since December 1, 2002, received a "form" type collection letter from Pressler & Pressler attempting to collect a debt for Capital One Bank that included a legal style caption on the letter. According to consumers, Pressler & Pressler has violated the federal Fair Debt Collection Practices Act by making false and misleading assertions in an attempt to collect a debt. Consumers are seeking unspecified compensatory and statutory damages, disgorgement of profits and declaratory and injunctive relief. A statewide class action has been filed in Connecticut against collection specialist, Peter Roberts and Associates, Inc. The action is brought on behalf of all Connecticut residents from whom Roberts attempted to collect allegedly illegal collection fees in connection with an attempt to collect an outstanding debt. The action is brought under the federal Fair Debt Collection Practices Act and is based upon Connecticut consumer laws. The consumers are seeking compensatory damages as well as injunctive and declaratory relief. A class action has been filed against First Capital Bank, an Oklahoma bank, by farmers who entered into loans with them and were charged high rates of interest. The loans were guaranteed by the Farm Service Agency (FSA) and subject to strict rules and regulations that were not followed. The class members also allege that the Bank used loan monies for their own purposes. Members seek compensation for interest paid, exemplary and punitive damages, and costs and attorney fees. A class action lawsuit has been filed in the Middle District Court of Florida against Park Financial of Broward County, Inc. and Attorney Ronald R. Torres for violations of the Fair Debt Collection Practices Act (FDCPA) which prohibits debt collectors from engaging in abusive, deceptive and unfair collection practices and the Florida Consumer Collection Practices Act. Class members seek actual, statutory and punitive damages as well as attorneys' fees and costs. A class action lawsuit has been filed against H&R Block, a national tax preparation company, in the Southern District Court of West Virginia for violations of federal banking laws. Class members seek damages, attorney's fees and costs of the litigation. |
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