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Weiss v. Sequium Asset Solutions LLC

Letter's Settlement Offer Is Not 'Unfair', 'Unconscionable' Method to Collect on Debt

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MEMORANDUM & ORDER Plaintiff Yitzchok Weiss claims that a letter he received from Sequium Asset Solutions, LLC violated the Fair Debt Collection Practices Act, 15 U.S.C. §§1692-1692p. The named defendants move for judgment on the pleadings. For the reasons stated below, Defendants’ motion is granted. I. Background In the complaint, Weiss states that he “allegedly” incurred a debt to HSBC Bank that became the subject of a 2012 court judgment against him in the amount of $12,777.90. Compl.

23, 33, ECF No. 1.1 HSBC is not a party here; Weiss alleges that the bank “sold or assigned the alleged [] debt” to defendant LVNV Funding. Id. 27. The facts below are taken from the complaint and assumed to be true for purposes of the instant motion. Defendant Sequium Asset Solutions is a “debt collector” within the FDCPA definition. On December 8, 2020, Sequium sent Weiss a letter on LVNV’s behalf. Id. 31. The letter noted a “Total Due” of $12,777.90 — the amount of the 2012 judgment — and set out a settlement offer: the debt would be extinguished if Weiss paid sixty percent of that amount. See Debt Notice, Exhibit A to Compl., ECF No. 1-1. Sequium’s letter did not provide a deadline by which Weiss had to accept this offer or otherwise provide that the offer would expire. Id. Weiss maintains that the “Total Due” field in Sequium’s letter misstated the amount of his debt. He claims the amount he owed was substantially higher, because interest had been accruing since 2012 at nine percent annually by operation of New York law. See Compl. 38. He argues that the letter violated the FDCPA because it failed to include interest in the total due or state explicitly that statutory interest would be waived. Id.

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