Article: Credit Card Center Files For Chapter 11; Legal Woes Mount.

The mystery surrounding the finances of Credit Card Center, the troubled Philadelphia-based independent sales organization, will be unraveling in the coming months. The company on June 6 filed for Chapter 11 bankruptcy protection in Pennsylvania.

The filing comes after legal pressure from the ISO's creditors and ATM providers. A civil complaint against the company seeks class-action status and invites up to 11,000 retailers with ATM contracts with the company to join.

Houston-based Tidel Technologies Inc., which is owed $26.5 million for thousands of cash dispensers bought by the Credit Card Center, took legal action against the ISO is May. The ...

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