Phoenix Financial Services Named in New York Man’s Debt Collection Suit

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A proposed class action filed in New York federal court claims Phoenix Financial Services LLC failed to clearly specify a consumer’s debt amount in a collection letter. The letter, dated January 3, 2018, indicated that the plaintiff’s account was accruing interest and fees but didn’t provide enough information for the man to calculate the true balance on a given day, the case claims.

In particular, the lawsuit alleges the defendant failed to specify the interest rate, amount of interest, date of interest and late fees would be applied, amount of late fees, and amounts of the added charges accrued over “any measurable period.”