OCXN Vs. Agruss Law Firm: Collection Agency Harassment Cases
Ocwen lawsuits are among the most well-known debt relief methods today. They have helped thousands of people in the United States to eliminate their massive unsecured credit card debt through a series of lawsuits against the major credit card companies. Ocwen is a division of the Credit Card Companies of America (CCA). The CCCA owns or operates more than fifty percent of all of the cards and loans in the United States. This conglomerate is responsible for the rise of the massive credit card bubble that nearly led to a collapse of the American economy.
Despite the fact that the economy was healthy,
credit companies still found ways to increase their profits. One such method was to charge extremely high interest rates to their accounts. This of course increased the amount of money that was owed to the credit card companies, along with late fees, over the limit fees, and the ever-growing penalties and fees. When the suits were finally brought against the companies, many of them were surprised to learn that they were not only being charged excessive fees, but were also being subjected to the illegal practice of debt collecting.
A new lawsuit against one of these companies, OCXN, Inc. by the Federal Trade Commission (FTC) highlights this problem quite clearly.
OCXN sued the company “OCXN LLC” for publishing an advertisement on its website that was false in that it stated that the company’s share price had increased during the period in question. According to the complaint, OCXN’s website had no mention of this fact in its marketing materials. Faced with this situation, OCXN sought to have its ad removed from the website. The FTC decided to have this ad removed on the basis that it was a “misleading statement” as it failed to provide any evidence that the price of OCXN’s stock had risen during the time of the article’s writing.
This decision has caused quite a stir in the debt settlement and business community because it means that all consumers who owe money to credit card companies are now at risk of being sued by the very companies that are trying to collect the debt.
In other words, if an advertising claim is found to be false or misleading, the advertising may be found to be guilty of fraud and may result in not only a loss of the advertising but could also lead to a loss of the customer’s credit rating, as well as his or her ability to obtain credit in the future. With an already strained credit rating and no real strategy in place to remedy the situation, this could prove to be a huge problem for many companies. As such, some companies are choosing to outsource their debt collections to third party agencies like Agruss Law Firm.
Agruss Law Firm represents consumers in a variety of financial situations, including OCXN and other debt collection agencies.
Because of this, Agruss lawyers are well-versed in dealing with different types of debt collectors, including OCXN. In fact, many of these attorneys even represent OCSN. OCSN is an unsecured debt collection agency. Since most collection agencies do not have the security of a loan to secure payments, they rely on using deception and trickery in order to collect what they deem to be a debt owed to them by a third party.
If you think you may owe money to a company, but are unsure, the best course of action is to request a copy of your credit report under the FCRA, which prohibits the collection agencies from discriminating against you based on your race, religion, national origin, sexual orientation, age, or any other protected class.
If you receive a copy of your credit report and find any items that do not belong to you, contact your credit reporting agency immediately and dispute the item. If the collection agency cannot prove that the debt is yours, you will have the option of disputing the item again with the same agency. This process will continue until all collection agencies are removed from your credit report.
