Prince $116k Lawsuit: Singer Turns Tables on Debt Collection Agency
Prince has filed a $116K lawsuit against a debt collection agency, according to reports this weekend.
The popular musician claims that the debt collection agency withdrew a six-figure sum from his bank account without permission. He claims that the extraction of the funds was illegal and he wants his money back.
Prince has decided to turn the tables on the debt collectors, who are more used to chasing others for money. The company, Capital Asset Protection, is the object of the lawsuit, and Prince's attorneys have claimed it owes him $116,000.
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Capital Asset Protection allegedly took the money following another lawsuit, which Prince lost, concerning a music production contract. The company believed it was within their rights to take the money following that court decision and withdrew the funds, much to the anger of the music star.
The withdrawals took place sometime in June 2012, and were for the amounts of $105,949.14 and $10,278.94, according to the filed lawsuit filed with the Los Angeles Superior Court on Thursday, the Inquisitr has reported.
According to the singer's attorneys the judge dropped his original judgment in October last year, therefore nullifying the debt owed to the production company. Therefore, they claim, the debt collection agency had no right to take the sum of money.
