NY Man Claims Asset Recovery Solutions Failed to Specify Amount of Debt

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Asset Recovery Solutions, LLC is facing a proposed class action lawsuit that claims the debt collector sent a New York man a collection letter that failed to clearly communicate the amount of his alleged debt. According to the complaint, the defendant indicated to the plaintiff that his account balance “may periodically increase due to the addition of accrued interest,” but neglected to specify the interest rate, the date of accrual, whether interest was already included in the balance, and any other information that would allow the plaintiff to calculate how much he truly owed on a given day. As a result, the suit argues, the defendant failed to comply with the Fair Debt Collection Practices Act’s requirement that debt collectors clearly convey consumers’ amount of debt.