The settlement requires Midland to reform its affidavit signing and litigation practices. Midland will notify impacted consumers by mail of the balance reduction and no further action is necessary from the consumer. Much like the conduct witnessed during the mortgage crisis, the agreement settles claims that Midland signed and filed affidavits in state courts in large volumes without verifying the information printed in them, a practice commonly called robo-signing.Īs part of the settlement, Midland will completely eliminate or reduce the judgment balances of 689 Virginians for a value of $879,729 in cases where Midland used an affidavit against them in court between 20.
The settlement comes as the result of a multistate investigation into Midland's collection and litigation practices. With this settlement, we are able to give 689 consumers the restitution and relief that they deserve, while showing that Virginia will not tolerate businesses that take advantage of Virginians.” "We are holding Midland accountable for previous illegal practices and making sure that, moving forward, the company practices legal debt collection. "Harmful debt buying and collection practices affect both Virginia consumers and the state's economy,” said Attorney General Mark Herring. Additionally, the settlement requires Midland to reform its debt buying and collection practices. Midland is also required to reserve $25,000 to reimburse Virginians who paid the company for debts that they did not owe, or who paid the company more than what they owed. The settlement requires Midland to eliminate or reduce the judgment balances of 689 Virginians totaling $879,729. and Midland Funding, LLC (collectively referred to as "Midland”), one of the nation's largest debt buyers. and its subsidiaries Midland Credit Management, Inc. Herring announced today that Virginia joined 41 other states and the District of Columbia in reaching a $6 million settlement with Encore Capital Group Inc. RICHMOND (December 4, 2018) – Attorney General Mark R. ~ The settlement will completely eliminate or reduce the judgment balances of 689 Virginians totaling $879,729 requires Midland to reform debt buying and collection practices ~ HERRING ANNOUNCES $6 MILLION JOINT SETTLEMENT WITH ENCORE CAPITAL, MIDLAND CREDIT MANAGEMENT AND MIDLAND FUNDING Email: This email address is being protected from spambots.
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