Midland Credit Management is a subsidiary of Encore Capital Group, Inc. Encore Capital Group is a publicly traded company (NASDAQ: ECPG). In its most up-to-date filing with the Securities and Exchange Commission, Midland Credit Management’s parent company claimed that it had collected $487.8 million in 2009, which represented a 22% increase over 2008. Within the last quarter of 2009 alone, they spent $41 million buying up $1 billion of various other companies’ debt. Those are big bucks, and you can bet that Midland Credit Management places extensive pressure on individuals to make sure that Encore Capital’s bottom line is appealing to prospective investors.
When Midland Credit makes harassing phone calls, it is critical to be prepared. Midland Credit is well known for making threatening telephone calls and engaging in other unethical conduct. Being an educated consumer will help you stop Midland Credit phone calls, and being aware of your rights will help you battle Midland Credit’s abusive practices.
Many consumers don’t know that it’s relatively simple to stop collection calls: you only have to write and notify the debt collection agency to quit getting in touch with you. By law, if you have written a letter asking Midland Credit to cease communication with you, Midland Credit can not get hold of you again in writing, by phone, or by email aside from to tell you if they have quit making an attempt to collect the debt, or if they have decided to step up the collection process through an attorney, the courts, or another means.
Keep in mind that the Fair Debt Collection Practices Act guards you against Midland Credit’s dirty tricks, but it does not erase your debt. You’re still liable to pay back what you owe, but the Fair Debt Collection Practices Act provides a clear line that separates ethical behavior from unethical and illegal behavior by debt collectors like Midland Credit.
Midland Credit Management
P.O. Box 939019
San Diego, CA 92123-9019