Hagens Berman has filed a lawsuit on behalf of consumers against Noteworld, LLC (“Noteworld”), claiming the Tacoma, Wash. company has violated the Racketeer Influenced and Corrupt Organizations Act (“RICO”) by engaging in a conspiracy to defraud consumers by extracting exorbitant fees from trust accounts related to useless debt-settlement plans.
According to the lawsuit, Noteworld purports to act as an independent fiduciary, independent from front-end debt settlement companies (“front DSCs”). In reality, the complaint argues, the front-DSCs use predatory tactics to sign up distressed borrowers for debt settlement plans, and then Noteworld conspires with the front DSCs to loot consumers’ settlement accounts through exorbitant fees, leaving little or no money for actual settlements.
Hagens Berman is asking the court to award damages to individuals who were misled and who paid exorbitant fees to Noteworld while trying to settle debts.
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