AG files suit against state debt collector

Colorado Attorney General John Suthers filed a lawsuit yesterday against Regent Asset Management Solutions, a Denver-based debt collection agency.
The suit also names Regent CEO Michael Scata, on suspicion that the company engaged in unlicensed debt collection in the state, and allegedly violated Colorado consumer protection statutes.
According to the complaint filed in Denver District Court, Regent Asset Management Solutions continued to collect debt from Colorado consumers after its license with the state expired in July 2010, a violation of the Colorado Fair Debt Collection Practices Act. The company also stands accused of not providing consumers it contacted with evidence of the debts it was attempting to collect. Without that evidence, consumers had no information about how to determine the accuracy of the debt.
The complaint further alleges taking shortcuts during the course of its business, including not sending out required notices to consumer on the date it marked the notification. The notices should have included the amount due, the creditor’s name and the consumer’s right to dispute the debt.
To learn more about the attorney general’s oversight for debt collection agencies, or to file a complaint, click here.