DENVER — Colorado Attorney General John Suthers announced today that his office has filed a counterclaim lawsuit against Orion Financial Group, a Westminster based firm, and its owner, Eric Thompson, on the grounds that they provided debt-management services to Colorado consumers without meeting the registration and reporting requirements of Colorado consumer protection laws.
According to the complaint, the state investigated Orion Financial Group and sent it letters in March 2010 and September 2011 warning it that it needed to be registered with the Office of the Attorney General and make the appropriate disclosures in order to provide debt management services. In order the continue to avoid Colorado’s registration and reporting requirements, Orion Financial Group sued the state in Adams County District Court on December 27, 2011 asking that the court exempt it from sanction on the ground that it was an agent providing back-end debt management services but not the actual debt management company.
Orion Financial Group also is suspected of not making proper disclosures to its customers on the agreements it used to lock consumers into a debt-management contract. The agreements, according to the lawsuit, did not inform consumers of their right to cancel their contract.
To learn more about the Uniform Consumer Credit Code, a licensed lender in Colorado or to file a consumer complaint, visit www.coloradoattorneygeneral.gov/dm.