Proposed Class Action Filed Against Asset Recovery Solutions

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Two New York consumers have filed a proposed class action lawsuit against Asset Recovery Solutions, LLC claiming the debt collector unlawfully failed to inform them that their alleged debts may increase due to interest or other fees. The plaintiffs say they received collection letters from the defendant regarding their credit card accounts, which the suit notes were subject to interest, late fees, and “other charges” per the plaintiff’s contracts. The letters, however, made no mention of any additional fees that may be added to the listed balances, the complaint claims, and therefore failed to comply with the Fair Debt Collection Practices Act’s requirement that debt collections clearly convey “the amount of debt” to consumers.