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The 2018 Encore Capital Group (Midland Funding and MCM parent company) 10-K filing is quite interesting.

From http://investors.encorecapital.com/node/16071/html

Legal Action. We generally refer accounts for legal action where the consumer has not responded to our direct mail efforts or our calls and it appears the consumer is able, but unwilling, to pay their obligations. When we decide to pursue legal action, we place the account into our internal legal channel or refer them to our network of retained law firms. If placed to our internal legal channel, attorneys in that channel will evaluate the accounts and make the final determination whether to pursue legal action. If referred to our network of retained law firms, we rely on our law firms’ expertise with respect to applicable debt collection laws to evaluate the accounts placed in that channel in order to make the decision about whether or not to pursue collection litigation. Prior to engaging an external law firm (and throughout our engagement of any external law firm), we monitor and evaluate the firm’s compliance with consumer credit laws and regulations, operations, financial condition, and experience, among other key criteria. The law firms we hire may also attempt to communicate with the consumers in an attempt to collect their debts prior to initiating litigation. We pay these law firms a contingent fee based on amounts they collect on our behalf. [emphasis added]

However, I haven’t found a Midland lawsuit in Arizona since 2013. What’s going on?

“Prior to engaging an external law firm (and throughout our engagement of any external law firm), we monitor and evaluate the firm’s compliance with consumer credit laws and regulations, operations, financial condition, and experience, among other key criteria.”

That’s VERY interesting, need to find out through discovery how hey evaluated the Bursey & Assciates “compliance.”

Risks Related to Our Business and Industry

Financial and economic conditions affect the ability of consumers to pay their obligations, which could harm our financial results.

Economic conditions globally and locally directly affect unemployment, credit availability, and real estate values. Adverse conditions, economic changes, and financial disruptions place financial pressure on the consumer, which may reduce our ability to collect on our consumer receivable portfolios and may adversely affect the value of our consumer receivable portfolios. Further, increased financial pressures on the financially distressed consumer may result in additional regulatory requirements or restrictions on our operations and increased litigation filed against us. These conditions could increase our costs and harm our business, financial condition, and operating results. [emphasis added]

I have the PERFECT case to get legislators to FINALLY enhance the FDCPA and bring it up to current standards.

I’ll never forget Elizabeth Warren’s outrage over debt collection abuse before she became a senator and with some luck, we might have a chance of getting FDCPA enhancements after next year’s election. There are SO many conflicting and truly bizarre decisions, it’s about time that the FDCPA is amended and the $1,000 statutory damages from the 70s adjusted for inflation.

The problem is NOT what Midland and the Bursey attorneys have done to me, but that they don’t think it’s wrong. For SIX years they’ve been litigating against me, denying ANY wrong doing!

I have not yet looked into the PEOPLE running Encore / Midland, but they really ought to be in prison.

If consumers get caught stealing at Wal-Mart a few times, they’ll go to jail!

Why are these thugs at Encore / Midland NOT prosecuted for CRIMINAL fraud?

There have been so many lawsuits and regulatory actions over their robo signing and submitting inadmissible evidence in collection suits — yet they did not quit these heinous illegal practices.

Paying a few million in fines to regulators is NOTHING for them. It’s a cost of doing business just like UPS and Fed Ex pay parking tickets.

Encore income from the 2018 K-10 filed with the SEC:

The Selected Operating Data was derived from our books and records (in thousands, except per share data):

Encore Capital ECPG 2018 SEC 10-K

Encore Capital ECPG 2018 SEC 10-K

Income from continuing operations before income taxes: 156,488

Over $156 million in ONE year!