We have forwarded correspondence such as this:
Greetings,
Please be advised that our office represents John Smith in this matter. This matter is subject to arbitration, and we request this email be received as a formal request for arbitration and stay of pending legal action. More importantly, we would expect to assert significant counterclaims in this matter. An FTC investigation found multiple violations in Lending Tree practices.
“There is no dispute that Lending Club made the representation “no hidden fees. “A reasonable trier of fact could find that the net impression of “no hidden fees” was likely to mislead based on a facial review of the loan application flow itself. Lending Club’s advertisements and loan application flow represented to prospective borrowers that they could obtain a specific loan amount with “no hidden fees.” The loan application then concealed the origination fee behind a tooltip and in a fine print footer, Lending Club received tens of thousands of inquiries and hundreds of formal complaints from consumers regarding the origination fee. Fed Trade Comm v Lending Club Case No.18-cv-02454-JSC (N.D. Ca. 2020) at 7.
For the sake of swift and amicable resolution, we propose a settlement offer of $2,000 payable at $100 per month. This figure is calculated in light of our client’s financial hardship, as evidenced by placement in a debt relief consolidation program. Kindly advise if this position is agreeable to your client under the circumstances. If so, please forward stipulation. Attached is a copy of the complaint sent to our office.
Thank you
Law Office of Howard Gutman
230 Route 206, St. 307,
Flanders, New Jersey 07836
295 Madison Avenue, Fl. 12,
New York, New York 10017
Tel (973) 598-1980 Fax (973) 531-4110, Cell (973) 479-5515
Hardship
Additionally you can request reduction based upon hardship or illness.
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