Class action law suit

Homer, tell us something more written in the mail.

I just got the letter today and it said that there is a group taking them to court for a) seeking interest at unlawful rates b)failed to state clearly the amount of debt being sought c) contained false and misleading statements regarding accrual of interest, settlement authority and the legal authority of which they have to release info about plaintiffs.

They say I fall under it. I don't know whether to opt out or not. If this goes through will my debt go away (even though its not mine). ALl they say is that you will receive in the settlement 15% credit to their balance as of the opt out date and something about if you made payments but since I say its not my debt I've of course never paid so that doesn't apply.

But it says that if you don't opt out you can't sue them for anything else. Which I'm interested in sueing their collection agency Redline but I don't think that would count would it? I'm guessing this all falls under call a consultant or see a lawyer. But I'm just getting overwhelmed with this all when I thought it was over with the divorce.

Thanks

Homer, I will also suggest you to seek advice of a lawyer or a counselor. This letter has been designed in general grounds so it does not consider you as an exemption. You should take action only after consulting your lawyer and know the pros and cons to it.

Do keep us updated.

Regards
Roxette

Hello,

I also received this letter reguarding the Sherman group. I still need to follow up with a lawyer on the issue but I can add that about 2 years ago I had an account placed with Sherman. I set up a payment plan and made 3 payments to close out my balance, thank god this was a direct withdrawl from my bank, but anyway a year later I received a call from them trying to claim the debt was still active, once I stated I paid and the details I never heard back from them, now a year after that last call I am receiving calls from some other company saying they received the debt from Sherman and they are trying to collect.

Once I repied in writting to challenge the debt I never heard back. Needless to say if you feel that you have any grounds with the company you should consult a lawyer on your own.

When you are sure that a specific debt has been paid to a certain collection agency and some time later, there is another agency contacting you for the same debt, it is possibly because your account has not been updated with the credit bureaus by the last collection agency who received payment from you.

Thus, it becomes very urgent that when you have paid to a certain collection agency, he should update your accounts with the credit bureaus so that you are sure about the completion of your debt.

Regards
Roxette