DENVER — Colorado Attorney General John Suthers announced today that the state has secured a court order barring Regent Asset Management Solutions, Inc., a Denver-based debt collection agency, and its CEO, Michael A Scata (DOB: 5/6/1954), from engaging in the unlicensed collection of debt in Colorado in violation of the Colorado Fair Debt Collection Practices Act. The order also requires that Regent Asset Management Solutions pay the state $70,000 in civil penalties for violations of the Colorado Consumer Protection Act.
The order stems from a lawsuit the state filed against Regent Asset Management Solutions and its CEO in December 2010 alleging that the company collected debts from Colorado consumers after its license expired in July 2010. The state also alleged that the company did not provide consumers with evidence of the debts it was attempting to collect. As a result of these activities, consumers were left with little to no information on how to determine the accuracy of their debts.
To learn more about the Office of the Attorney General’s oversight over debt collection agencies or to file a complaint about a debt collection agency, visit www.coloradoattorneygeneral.gov/ca.