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Attempt to Collect Debt Not Owned

Hand Held Out for Payment

The complaint for this class action alleges that Velocity Investments, LLC improperly sues consumers for loans which it does not have the right to collect on. The complaint cites the federal Fair Debt Collection Practices Act (FDCPA) and Pennsylvania’s  Fair Credit Extension Uniformity Act (FCEUA) and Unfair Trade Practices and Consumer Protection Law (UTPCPL). However, very important to this case is the state’s Consumer Discount Company Act (CDCA).