Delaware Announces Settlement to Reform Debt Buying Practices

  • Written by

Attorney General Matt Denn announced today that Delaware joined 41 other states and the District of Columbia in reaching a settlement regarding debt collection practices with Encore Capital Group Inc. and its subsidiaries Midland Credit Management, Inc. and Midland Funding, LLC, one of the nation’s largest debt buyers.

Debt buying involves buying and selling overdue debts from creditors and other account owners. Often purchased for pennies on the dollar, debt buyers seek to recover the full balance from consumers through collection attempts by phone and mail.

Click here for rest of article...