The state of Missouri is one of 41 states, with DC, that reached settlements with one of the nation’s largest buyers of debt.
The Missouri Attorney General’s Office released a statement today, indicating a settlement has been reached with subsidiaries of Encore Capital Group Inc. Part of the settlement involves the elimination or reduction of judgement balances by Midland Credit Management, and Midland Funding LLC, for 363 consumers. According to AG Josh Hawley, affidavits were used against consumers in court from 2003 through 2009, that were signed and filed using a practice called ‘robo-signing’. The practice reportedly involves no verification of the information printed on the affidavit. Missourians are expected to benefit to the tune of $700,000 in debt forgiveness or other payments, according to the AG.