FCC National Bank Assignee of the First National Bank of Chicago v. Doe

006050-95 (N.J. Super. Ct. Middlesex County filed June 22, 1995). ; Clearinghouse Number: 51172

Description

Consumer Counterclaims That Bank Misrepresented Terms of Credit Card Insurance

Abstract

Defendant consumer has filed his answer and counterclaim in this collection action. Plaintiff bank sued to collect an outstanding balance on defendant’s credit card. Defendant alleges that bank sold him an insurance plan that, bank represented, would protect him in the event he became unemployed; bank further represented that insurance benefits would be paid until his balance was paid off, he returned to work, or he reached the policy limit of $10,000, whichever happened first. After defendant became unemployed, he owed a balance on his credit card of less than $10,000. He maintains that, although he received insurance benefits for approximately five years during which he continued to be unemployed, the balance on his credit card account continued to grow; bank’s insurance plan is structured so that it would never pay off the balance on his account, no matter how long he remained unemployed; he would owe less money if he had not purchased the insurance; and bank’s actions constitute unconscionable commercial practices, deception, fraud, false promises, or misrepresentations, in violation of state law. Defendant seeks treble damages, costs, and attorney fees.

Additional Information

Attorney Information
Defendant represented by Gail Chester, Middlesex County Legal Services, 313 State St., Rm. 308, Perth Amboy, NJ 08861, (908) 324-1613.
Docket Date
1995-06-22 00:00:00+00:00