Debt Collector Falsely Claims State Government Approval, Suit Says

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A Wisconsin woman has filed suit against Trident Asset Management, LLC and Orion Portfolio Services, LLC alleging that Trident – on Orion’s behalf – attempted to collect a debt from her and falsely claimed to be licensed by the state government. The plaintiff supposedly received a letter from Trident that stated: “This collection agency is licensed by the Division of Banking in the Wisconsin Department of Financial Institutions…” The suit argues that Trident does not, in fact, hold a license from the Wisconsin Division of Banking and that this false claim is an attempt to induce consumers into paying off their debts to an institution they believe is “approved” by the state.