A collection operation in Indiana that was the subject of a Consumer Financial Protection Bureau enforcement order back in 2023 has closed its doors for good, leaving nearly 100 employees looking for work. The collection agency may be associated with a debt buying operation that also recently shut its doors.
Phoenix Financial Services, based in Fishers, Ind., closed at the end of February, according to a published report. The company filed a Worker Adjustment and Retraining Notification (WARN) with the state of Indiana on February 28 indicating that 87 employees were laid off on December 31, 2024, and one more was laid off in January. The company is providing separation benefits and COBRA benefits to affected employees, according to the WARN notice. The positions affected by the layoffs are:
- Accountants and Auditors
- Computer Occupations
- Customer Service Representatives
- First-Line Supervisors of Personal Service Workers
- General and Operations Managers
- Human Resources Managers
- Human Resources Specialists
- Marketing Managers
- Sales Representatives
- Payroll and Timekeeping Clerks
- Training and Development Specialists
Back in 2023, Phoenix was fined $1.7 million by the CFPB for continuing to attempt to collect on debts that were not substantiated after the consumers filed disputes and for furnishing information abut the debts to the credit reporting agencies.
The enforcement action was cited by one attorney
