LTD Financial Services Hit with FDCPA Lawsuit

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LTD Financial Services, LP is on the receiving end of a proposed class action lawsuit that claims it violated the Fair Debt Collection Practices Act by failing to clearly communicate the amount of a consumer’s alleged debt. The plaintiff says he received a collection letter from the defendant that noted a balance, but neglected to disclose whether the balance would change due to interest or other fees. The suit argues that the amount in the letter was, in fact, accruing interest, but that the defendant’s failure to include this information left the plaintiff unable to determine the true amount of his alleged debt. The lawsuit further claims that, as a result, LTD Financial unlawfully hindered the plaintiff’s ability to respond to the letter and settle the account.