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Case ID: 4600 | Credit / Debt | 01/13/2006
The founder of the credit counseling firm AmeriDebt agreed to pay $35 million to settle suits filed by regulators and former customers over the $172 million in allegedly hidden fees the company collected from financially strapped debtors. The money that the founder, Andris Pukke (PUCK'-ee), pays would go to a fund that will be used to reimburse the roughly 300,000 customers the Federal Trade Commission claimed AmeriDebt Inc. deceived.
Pukke, who made a fortune off businesses that catered to customers in debt, is also barred from working in credit counseling, debt management or telemarketing as part of the settlement. The settlement came a day before a federal court in Greenbelt, Md., was set to hear the FTC's lawsuit against Pukke and a class action lawsuit filed against him by former AmeriDebt customers. The payment covers both cases, according to the FTC. The agreement is subject to approval by the federal judge as well as by the court hearing Pukke's personal bankruptcy filing. AmeriDebt filed for bankruptcy in 2004. The company's remaining clients have been shifted to another credit counseling firm.
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 statewide class action has been filed in Indiana against collections specialist Account Receivable Collections, LLC. The action is brought on behalf of all Indiana consumers who received an initial collection letter from Account Receivable that demanded immediate payment of their debt. The action is brought under the Fair Debt Collection Practices Act and seeks statutory damages as well as injunctive and declaratory relief. A class-action lawsuit was filed on behalf of a tenant of Villas Parkmerced, San Francisco's largest apartment development with 3,456 units. A class action lawsuit has been filed on behalf of Indiana residents who received dunning notices from Calumet Adjustment Bureau. The suit alleges that Calumet failed to adhere to the requirements of the federal fair debt collection practices act in its interactions with debtors. On June 20, 2003, the court granted final approval to the parties' settlement of a class action against First Union Mortgage Company on behalf of persons who had a mortgage loan serviced by First Union as of April 1, 1998, and paid a $1 monthly fee for the receipt of a monthly mortgage statement to either First Union or Alliance Mortgage Company between April 1, 1998, and November 1, 2002. Claims must be received by July 8, 2003. A statewide class action has been filed in Florida against mortgage service specialist, Green Tree Servicing, LLC. The action is brought on behalf of all Florida residents whose mortgage was transferred to Green Tree for servicing and who did not receive a notice of transfer within the federally mandated 15 day period. The action is brought under the federal Real Estate Settlement Procedures Act and seeks a minimum of $1000 in statutory damages per class member as well as compensatory damages where appropriate. A statewide class action has been filed in Indiana against Capital Recovery Associates, Inc. who operate under the name CRA Security Systems. The action is brought on behalf of all Indiana residents who received a form type collection letter demanding immediate payment of the consumers’ alleged debt. The action is brought under the federal Fair Debt Collection Practices Act and seeks statutory damages as well as injunctive and declaratory relief. |
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