Our good friends at Encore (a/k/a Midland Funding or Midland Credit Management) are being investigated again for their debt collection practices. Coincidentally, profits rose.
I have lost track of the number of times we have sued Encore (Midland) — most of the cases have been the result of our clients winning a collection lawsuit filed against them by Midland but yet Midland would not remove the credit reporting.
As we have discussed elsewhere, when a debt buyer such as Midland sues you in Alabama, and loses (verdict or dismissal with prejudice), then it must normally remove the credit reporting from your credit reports as a Judge has ruled that you do not owe Midland any money.
If you have won a case against Midland, check your credit reports. See if the account that was on there is no longer there or if it is still being reported.
By the way, here is an interesting quotation from Midland/Encore’s website that you find useful if you have been abused by this debt collector:
We have a long history of integrity and fair dealing and have over 1,000 knowledgeable, professional, and friendly account managers ready to offer you a wide range of payment arrangements.
Moreover, we have created the industry’s first Consumer Bill of Rights (click to download a copy) . This document details our commitment to conduct business ethically and in ways that support our consumers’ financial recovery.
You can resolve your outstanding debts and we’re ready to help.
Here is what the Consumer Bill of Rights says about credit reporting:
When reporting to credit reporting agencies, we will provide timely and accurate updates and will conduct a reasonable investigation of any disputes based on the information provided. When information is found to be incorrect or outdated, we will instruct the agencies to correct or delete the information.
Good stuff — if they follow this then the lawsuits will decrease. If they don’t follow it, then they’ll need to explain to us in depositions why they don’t follow the law and their own publication….
This is fascinating on selling debts — if anyone in the industry actually did this we would not have all of the bogus lawsuits:
We will not resell accounts to third parties in the ordinary course of our business. In the future, if we have an occasional instance when we do resell accounts, we will only do so when we can provide the purchaser with documentation evidencing the amount owed on the account and clear title of ownership.
Last one — this is funny as this is what must be done in order to notarize a document — generous that Midland is now saying they will do this….
Prior to signing affidavits, our authorized representatives will read, understand, and fully verify document contents as appropriate to ensure accuracy. All notarized documents will be signed in the presence of a certified notary who is acknowledging the signature.
So, what has been your experience with Midland? Feel free to leave a comment but if you are interested in talking with us, then it is better to call us at 205-879-2447 or fill out our contact form.