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AG Schmidt Announces Settlement With Chase Over Debt Collection Practices

wikipedia.org

The State of Kansas has reached a settlement with Chase Bank and its credit card processing centers to return money to card holders.

Millions of dollars are on their way back into the pockets of people in the most of the country.

Attorney General Derrick Schmidt joined with other state attorneys general on the settlement.

Chase is accused of unfair and deceptive bushiness practices when suing consumers for debt and when selling debts.

Debt buying involves the original company selling debts to collection companies for pennies on the dollar. The third party company then attempts to collect the full value of the debt.

Over half million consumers are expected to get some relief, and that includes 844 Kansans.

Chase will be contacting their customers directly.