JEFFERSON CITY, MO (KFVS) - Missouri with 41 other states and the District of Columbia have reached a $6 million settlement with Encore Capitol Group and its subsidiaries.
According to Missouri Attorney General Josh Hawley, these are one of the largest debt buyers in the nation. The subsitiaries include: Midland Credit Management, Inc. and Midland Funding, LLC.
Debt buyers seek to recover the full balance that was purchased cheaply by them from consumers through collection attempts by phone and mail.
“Protecting vulnerable consumers from unscrupulous debt collectors is paramount to my office,” Hawley said. “We will not hesitate to illuminate and stop predatory debt collection practices that seek to take advantage of Missourians.”
Hawley said residents of Missouri are expected to benefit from over $700,000 of the settlement in debt forgiveness and other payments.