Citibank Sued in a Consumer Fraud Lawsuit
Financial Freedom Southwest has been sued in a consumer fraud lawsuit by a woman who claims the “debt adjuster” company took thousands of dollars in fees without providing the services it promised.
According to Courthouse News, Cynthia Snyder owed more than $55,000 to 15 credit card companies when she went to Financial Freedom for debt relief help. However, she alleged in her lawsuit that Freedom Financial took $4, 349 of the $14,969 she paid them for the company’s services.
The consumer fraud lawsuit states, “of the monies defendants collected, only $10,620 of said funds were distributed to plaintiff's creditors, thus representing a 40.95 percent fee,” and that the "defendants fraudulently induced the plaintiff and plaintiff class members to pay for debt settlement services with no intent or possibility of actually resolving their debts in the manner represented by defendants."
Snyder contends that the company violated Georgia state law by charging her and other customers more than 7.5 percent of their debts in fees. She seeks an injunction and damages.
If you or a loved one has been wronged by consumer fraud, you may be entitled to compensation. Contact Sokolove Law for a free legal consultation and to learn about your options.