Crown Asset Management $158K Settlement: Compensation for Debt Collection Violations
Crown Asset Management settles for $158K. Automatic payments for eligible California residents.
A $158,095 settlement with Crown Asset Management offers payments to consumers whose debts to Synchrony Bank were sold to the debt collection agency. This settlement benefits California residents who received an initial written communication from McCarthy, Burgess & Wolff Inc. on behalf of Crown Asset Management to collect a charged-off consumer debt originally owed to Synchrony Bank. These mailings must have been sent between December 4, 2017, and December 27, 2022, and not returned as undeliverable by the post office.
The class action lawsuit alleges that Crown Asset Management sent collection letters to California residents without complying with state debt collection laws, such as the California Fair Debt Buying Practices Act. In some instances, these letters were not delivered, according to the plaintiffs.
Crown Asset Management, a debt purchaser that collects on delinquent loans, has not admitted to any wrongdoing but has agreed to pay $158,095 to resolve the lawsuit. Under the settlement terms, class members will receive an equal share of the net settlement fund. The exact payment amounts…
