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National Credit Adjusters Accused of Collecting Usurious Payday Loans

– Posted in: fair debt

A New Jersey man hired the Law Office of Dimitrios Kolovos, LLC to file a lawsuit against the debt collector National Credit Adjusters L.L.C. of Hutchinson, Kansas. The Complaint alleged that the Defendant violated the Fair Debt Collection Practices Act (FDCPA). The FDCPA is powerful consumer rights statutes regulating the conduct of consumer debt collectors. The Consumer filed his lawsuit in the United States District Court for the District of New Jersey located in Camden, New Jersey and demanded that judgment be entered against the Defendant for his statutory damages, actual damages, attorney’s fees, and the costs of his action.

The Complaint alleged that National Credit Adjusters (a junk debt buyer of old, defaulted payday loans) unlawfully charged usurious interest in violation of New Jersey law for payday loans. Further, the payday lenders from whom National Credit Adjusters allegedly bought the payday loans were not licensed to lend to New Jersey consumers. Shockingly, one of the payday loans allegedly charged a 1261% interest rate the Complaint stated. Also, Defendant pretended a debt collection lawsuit had been filed against the Plaintiff when its debt collection law firm, Marshall & Quentzel, L.L.C. deceptively used langue to suggest there had been. National Credit Adjusters also threatened the Plaintiff’s job and his future job prospects through its agent, Marshall & Quentzel.

“Consumers harassed, abused, or deceived by payday lenders and their debt collectors must ask themselves if the payday loans were originally legal in the first place,” said Joseph A. Mullaney, III, attorney for the Plaintiff. “If the state in which you borrow the payday money,” he continued, “requires licensing, the payday loans may not be legal and may not have to be repaid.” Even if they are legal, a determination only an experienced Consumer Rights Attorney should make, the loans must be collected fairly and without deception. “Pretending a lawsuit has been filed when it has not may violate the FDCPA,” he said. “A debt collector who threatens a person’s job or future career when collecting a consumer loan may now owe the consumer compensation through the FDCPA,” he finished.

If you believe National Credit Adjusters or Marshall & Quentzel is harassing, abusing, or deceiving you, a consumer may want to consider sending a cease and desist letter to National Credit Adjusters or Marshall & Quentzel. Their contact information is:

National Credit Adjusters, L.L.C.
327 West 4th Street
Hutchinson, KS 67504
Tel 888-768-0674
Fax 620-664-5947
http://www.ncaks.com

Marshall & Quentzel, LLC
64 North Summit Street, Suite 209
Tenafly, NJ 07670
Tel 201-816-1901
Fax 888-221-9076
http://www.mqlaw.net

You should send any communication by certified/return receipt requested mail.

Pennsylvania and New Jersey consumers who believe their fair debt collection rights have been violated are invited to click here for a no-obligation assessment of their consumer law matter.

Comments on this entry are closed.

  • Mimsey

    Very rarely can people who get themselves into credit card issues afford to pay such exorbitant interest rates. To take advantage of people when they are down on their luck is criminal in my book, let alone ethical. Put these people out of business.

  • CreatureComfort

    It is inexcusable that these people have the ability to harass clients at their jobs after the payday loan lender’s usurious interest rates have gotten the client into the predicament in the first place. Why do we let these criminals survive and thrive?

  • Anonymous

    A lot of states have outlawed payday loans, precisely because most of them charge usurious interest. It is shameful the way a whole industry preys on poor people.

  • MaybeNot

    Usery laws are as important today as they were when they came about originally. Unscrupulous money lenders will always be with us. People should know the laws and be protected against these deceitful people who would take away their last cent and not even blink.

  • Jamie

    I did some writing on payday loans for a client – I’m a writer for websites.  I was shocked at the material that I found when I researched this type of credit.  These places routinely charge huge percentages, especially when you factor in the fees they often tack on.  The whole industry is a big rip-off for consumers.