Debt Collection Suit Filed Against Security Credit Systems Over ‘Misleading’ Letter

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Security Credit Systems, Inc. is facing a proposed class action lawsuit filed in New York by a man who claims the defendant sent him a misleading debt collection notice. The letter allegedly failed to state “the amount of the debt clearly from the perspective of the least sophisticated consumer” because it did not indicate that the account was subject to interest or late fees. On top of that, the suit alleges, the defendant neglected to provide the plaintiff with the interest rate, date of accrual, amount of late fees, or any other information that would allow him to calculate his true account balance on a given day.