Two NY Consumers Claim Oliphant Financial Violated Debt Collection Laws

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Two New York residents allege in a proposed class action that defendant Oliphant Financial, LLC mailed them collection notices in which the company failed to make mandatory disclosures regarding the accrual of interest and/or late fees on their respective balances. In addition, the lawsuit claims the company failed to indicate the minimum amount owed at the time the letters were generated while leaving out:

• The applicable interest rates;
• The dates of accrual of interest;
• The amount of any late fees;
• The date such fees will be added; and
• Which parts of the plaintiffs’ debts are attributable to interest, principal and late fees.