Asset Recovery Hit with Debt Collection Suit Over Settlement Offer Date

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A lawsuit has been filed in Wisconsin alleging that Asset Recovery Solutions, LLC misled consumers with its settlement offers. According to the suit, the plaintiff incurred debt on a credit card from Capital One – a debt that was later sold to BIG15. On September 26, Asset Recovery Solutions sent a debt collection letter to the plaintiff regarding this debt. The letter advised the plaintiff that he could settle his debt by paying 90% of the amount owed, but that this offer would expire in one month. The complaint alleges that ARS “had authority from BIG15 to settle consumers’ accounts for 90% of the amount owed, or less, at any time.” As such, the suit continues, the “limited time offer” included in the letter is false and misleading because such a deal would be available at any time.