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.
“Orion Financial Group, Inc would first like to thank the BBB for allowing a response in a fair format.
Orion Financial Group believed they were acting in accordance to State law between 8/1/09-3/10/10, as acting as an agent/joint venture to a registered provider. After reviewing applicable statutes with the Administrator, both parties are working diligently to an arrangement that balances the views of the State, the interests of consumers, and the needs of a small, ethically based Colorado company. When Orion Financial Group was initially contacted by the state they stopped enrolling Colorado clients and transferred them to a Registered Provider under the guidance of the State. Orion Financial Group has applied twice to be a Registered Provider in Colorado since being initially contacted 3/8/10, and has delivered a signed settlement offer to the State to remedy any outstanding issues. Orion Financial Group hopes to seek resolution as quickly as possible and continue to provide the excellent service thus far which is demonstrated by No BBB or A.G. Complaints against them in nearly 3 years.
Please contact Brad Daybell 303.577.2801 regarding any questions”
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