ED Magedson – Founder
DECA Financial Services12175 Visionary Way Fishers, Indiana USA
DECA Financial Services Overcharged Fees and Proven Perjury Fishers Indiana
Please watch this YouTube Video - which explains this fiasco very clearly.
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--- Synopsis ---
DECA Financial Services runs a rip-off debt collections service, for what appears to be mostly new medical debts, associated with Emergency Room Physicians. They start out by overcharging for their collection fee, 35% vs 25%, and for this increased fee, run a scant cheaper process.
After making only nominal effort to collect on debts, they file lawsuits in mass against patients, as many as 90 at a time, all for the same simple ER contract, mostly for smaller debts (mostly under $500). For each suit they charge $375 in legal fees! ($37,000 in fees per batch of 100) As these are mostly small debts, the impact of DECA's "effective collection cost" more than DOUBLE's many of these debts, and often results in DECA claiming more money from the patient than the doctors!
Patients asked the courts to have them justify this legal fee, to which they responded to the court with a "sworn affidavit", which swore that they spent 3.5 hours of labor prior to the filing of each lawsuit! (mostly done by the 2 legal assistants)
Soon after, it was proven, using public court records and spot checks, to prove that this lawyer and her 2 assistants could submit almost 600 lawsuits per month, repeatedly. This data has proven that their 3.5 hour work estimate is off by a factor of at least 4:1! They are quadruple-charging these legal fees! Watch the video the synopsis of this proof.
In short, this 4:1 overcharge has been committed against over 2000 Indiana Hoosiers in 2013. They are now being investigated by local law enforcement for the crime of perjury, and are also being investigated by our Attorney General for mass violations against the consumer.
Additionally, their CEO, Todd Wolfe, has been accused by the banks and creditors of fraud, forgery, and theft, as he allegedly transferred copious funds from creditor accounts into his own personal account, and then failed to remit payments back to the creditors! Approximately $2.1M in funds are currently unaccounted for, and over $600K in creditor funds are now deliquent.
Here is the link to this great story.
Some consumers are now actively seeking justice and compensation for these overcharges and FDCPA violations implied by the dishonesty of the affidavit, "misrepresenting services associated with debt collection".
This report was posted on Ripoff Report on 03/10/2014 05:11 AM and is a permanent record located here: http://www.ripoffreport.com/r/DECA-Financial-Services/Fishers-Indiana-46038/DECA-Financial-Services-Overcharged-Fees-and-Proven-Perjury-Fishers-Indiana-1129504. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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