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8/18/09

Kansas City, MO - The Attorney General filed suit against Premier Credit Services and owners Michael and Angela Eads for mortgage fraud. The suit charges that the Eads, through their business Premier Credit Services, collected money in advance from clients facing financial hardship, promising help in reducing mortgage payments. Instead, the company did nothing to improve its clients' financial situation, indeed, making it worse.

Premier Credit Services closed its doors without warning on June 12, 2009, just before its funds were to be garnished $19,373 due to a lost civil suit in January. The closure of the business left its clients confused and worried about losing their homes. Since Premier's closure, the BBB has been working with the company's former clients and the Missouri Attorney General's Office to help victims get their money back.

The Attorney General's press release states that "Koster is asking the court to award restitution to consumers who suffered losses; impose appropriate monetary penalties; and issue injunctions prohibiting Premier Credit Services from violating Missouri consumer protection laws in the future."

About BBB
The BBB of Kansas City, MO was founded in 1916, as a non-profit Kansas City organization serving 45 counties in the Kansas City Metro area. The first BBB was founded in 1912. Today, BBB's serve communities across the U.S. and Canada.

Serving as the 'ethical gatepost' of our communities, BBB fosters and promotes ethical business practices and self-regulation standards that build consumer trust in the marketplace. BBB services include business reliability information, complaint resolution services and consumer and business educational information. For further information about the BBB , our Charity Review and the BBB Foundation you may contact us at www.kansascity.bbb.org. or call us (816) 421-7800.