CFPB Suit Against Collection Companies Coming to a Settlement

A month or so ago, the Consumer Financial Protection Bureau (CFPB) filed suit against Encore Capital Group, Midland Funding, Midland Credit Management, and Asset Acceptance Capital. Details on that suit are here. It appears the parties have come to a settlement on the matter. Under the proposed agreement, the companies will extend provisions they agreed … Read more

CFPB Sues Asset Acceptance, Encore and Midland for Collection Practices

The Consumer Financial Protection Bureau (CFPB) has Encore Capital Group, Inc. and its subsidiaries, Midland Funding, LLC; Midland Credit Management, Inc.; and Asset Acceptance Capital Corp. The CFPB says, “Encore and its subsidiaries are currently subject to a 2015 consent order with the Bureau based on the Bureau’s previous findings that they violated the Consumer … Read more

Midland Funding and Midland Credit Management Settle Case and Eliminate or Reduce Debt

A multi-state action against Encore Capital Group has ended in a settlement with many states to reduce or eliminate debt owed by residents. If you live in one of the states mentioned in the information below, you should contact your Attorney General office to determine your inclusion in this settlement. The North Carolina announcement of … Read more

Debt Buyer and Collector Launches Forward Thinking Effort to Help Consumers

Interest rate negotiation can result in a lower interest rate than you are paying now.

Recently I had the opportunity to learn about a new initiative by a large debt buyer and collector, Encore Capital Group. Encore is actually working hard to help consumers. And I’m sure when you read that you will be cynical. I was at first. But the changes Encore is making will assist consumers with old … Read more

Midland Funding Keeps Trying to Collect From Me

“Dear Michael, Midland Funding is trying to collect from me. I don’t know who these people are and never did business with them…but they say I owe them ,and placed a collection on all credit reporting agencies can I have them removed from my reports? they even sent me a letter saying the can collect … Read more

Midland Funding – Consumer Complaint – June 28, 2016

Consumer Statement: I had a debt that I had owed for a while to Midland Funding here is the copy of the entry on my credit report Original Creditor: 01 WORLD FINANCIAL CAPITAL BANK WORLD FINANCIAL CAPITAL BANK Account #: High Balance: 2634 Date Opened: 11/21/2013 Date Reported: 05/19/2016 Balance: 2634 Condition: 05/19/2016 Responsibility: Individual … Read more

How To Reduce Debt Buyer Collection Lawsuits

Last week the CFPB and the FTC held a workshop to address what happens to unpaid debts at different stages of the debt collection cycle. The workshop brought together state and federal regulators, economists, major banks, debt collection agencies, debt buyers, consumer advocate attorneys, technology companies, members of the judiciary, credit reporting agencies, and more. … Read more

Midland Funding Pays Big Fine

Midland Funding Pays Big Fine Over Robosigning Debt Collection Suits One of the country’s largest debt buyers has agreed to overhaul its collection practices and pay the state of Minnesota $500,000 in a settlement that reflects heightened scrutiny of the growing industry. Midland Funding LLC, owned by debt-buying giant Encore Capital Group Inc. in San … Read more

Credit Counselor or Debt Collector? Midland Credit Management Applies Clever Approach.

I just had an opportunity to look at the website for Midland Credit Management and I must say, for a collections agency they certainly appear more like a credit counseling group. Don’t get me wrong, it appear they provide full and apparent disclosure they are a debt collector, “Please understand that this is a communication … Read more

Midland Funding – Consumer Complaint – 4-29-2012

Date This Problem Happened: January 1, 2011 State You Live in: Kansas Race/Ethnicity: American Indian Age Range: 51-65 Total Amount of Fee Paid: Company Name: Midland Funding Company Address: Company Telephone Number: Website of Company: Consumer Statement: I was told I had joined a class action lawsuit against Midland Funding LLC. As I check some … Read more

FTC Says Midland Funding Class Action Suit is a Bad Deal For Consumers

he Federal Trade Commission filed an amicus brief in federal court opposing a class action settlement that would require consumers to surrender protections provided by the Fair Debt Collection Practices Act (FDCPA) and state laws in exchange for minimal payments. The proposed settlement in Vassalle v. Midland Funding would resolve several private class action lawsuits … Read more