Genus to Settle Class Action Suit Over Debt Management Plans

By Sarah Pierce

If you enrolled in a debt management or credit counseling plan with either Genus Credit Management Corporation or American Financial Solutions (AFS), you may be eligible to receive money from a proposed class action settlement.

According to the settlement notice, Genus and AFS did not disclose required information about debt management plans and falsely led consumers to believe that by enrolling in a debt management plan they could improve their credit, credit ratings, credit histories or credit scores. If you enrolled in a debt management plan with AFS before September 1, 2006 or enrolled with Genus and continued to participate in the Genus plan after July 1, 2001, you’re eligible to receive money from the proposed $4 million settlement.

The deadline to file a claim form is May 19, 2010. You can find out more information, including a breakdown of the credit counseling class action lawsuit, here.

Updated April 29th, 2010

All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions