Variations on name: Midland Credit Management Inc., Encore Capital Group Inc., MCM, Midland Acquisitions Corp., Midland Funding LLC, MRC Receivables Corp.
Address: 8875 Aero Dr #200 San Diego, CA 92123
Other Basic Info
Number of Years in Business: Over 40
CEO: Brandon Black
CFO: Paul Grinberg
Phone: (858) 560-2600 / (800) 735-2922 / (800) 825-8131 / (877) 445-4581 / (888) 403-6206
Better Business Bureau Report Summary
We researched the Better Business Bureau reports on this company as of February 15, 2012 and found the following data:
Number of complaints processed by the BBB
The agency maintains “B+” due its handling of the complaints filed.
Minnesota: On March 28, 2011, Minnesota Minnesota Attorney General Lori Swanson filed a lawsuit against Midland Funding, LLC and Midland Credit Management, Inc, accusing these debt buyers of defrauding Minnesota courts and citizens by filing false and deceptive “robo-signed” affidavits—generated at its offices in St. Cloud, Minnesota—to collect on old consumer debts that it purchased from credit card companies and others for about three cents on the dollar.
According to the lawsuit, these companies purchased $54.7 billion in old consumer debt from credit card companies and other companies. In 2009, it filed 245,000 lawsuits against individual citizens nationwide, and it has filed over 15,000 lawsuits against citizens in Minnesota courts since 2008. Midland pays for its debt acquisitions with hundreds of millions in financing from some of the nation’s largest banks, including several that sell old debt to it.
The press release from the Attorney General's office went on to note that since 2008, Midland filed over 15,000 lawsuits in Minnesota state courts against individual Minnesota citizens, obtaining default judgments against unrepresented citizens an estimated 98 percent or more of the time. That means that most of the time, individuals did not show up in court to defend themselves against these lawsuits.
Maryland - The State has reached an agreement with Encore Capital Group Inc., Midland Credit Management, Inc., Midland Funding LLC and other affiliated companies to settle alleged violations of federal and state debt collection laws.
Under the terms of the Settlement Agreement with the State Collection Agency Licensing Board, an agency within the Office of the Commissioner, a division of the Department of Labor, Licensing and Regulation, the Encore-Midland companies will pay civil penalties totaling $998,000; three of the companies will become licensed as collection agencies in order to engage in collection-related litigation in Maryland State courts; and the Encore-Midland companies will change some business practices to ensure that both their litigation-related collection activities and their non-litigation (or “traditional”) debt collection activities comply with all applicable state and federal laws.
These laws include the Maryland Collection Agency Licensing Act, the Maryland Consumer Debt Collection Act, and the federal Fair Debt Collection Practices Act. The companies have not admitted to any wrongdoing under the terms of the Agreement.
Read or share complaints about this debt collection agency:
New York Resident Being Sued
I received a summons from Midland Funding LLC (DBA) in New York as Midland Funding of Delaware LLC. I believe they are a parent company or a subsidiary …
Encore Legal Department
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