Midland Funding LLC, a subsidiary of Encore Capital Group, is a major player in the U.S. debt collection industry. They buy delinquent or charged-off debts from original creditors, such as credit card companies, at a discount and then seek to collect the full amount, plus fees and interest, from consumers. Reviews of Midland Funding are mixed, reflecting both positive and negative experiences from consumers and feedback from regulatory bodies.
Positive Reviews: Professionalism and Settlement Offers
While negative reviews dominate, there are positive accounts from consumers who appreciate Midland Funding’s professionalism and settlement negotiations. For instance, a March 2024 review on the Better Business Bureau (BBB) site noted:
“I have to say they have always been respectful, nice, and responsive. Hope I never have to deal with this type of issue again, but if I do, this was a great experience.”
These positive interactions often highlight the company’s clear communication and willingness to work out reasonable payment plans, bringing relief to those who successfully settle their debts.
Negative Reviews: Aggressive Tactics and Questionable Practices
A large number of reviews criticize Midland Funding for aggressive collection tactics and questionable practices. Many consumers report frequent and harassing phone calls, threats of legal action, and misleading information about their debts.
For example, a March 2024 Yelp review states:
“This company is trash! Group of debt buyers, they sent me letters telling me the judge had already made a judgment in an attempt to make me pay, sad mofos. They would call an average of 15 calls a day, blocked!”
Some consumers accuse Midland Funding of violating the Fair Debt Collection Practices Act (FDCPA) by attempting to collect debts that are not owed, already paid, or beyond the statute of limitations.
Complaints and Regulatory Actions
Midland Funding LLC has faced numerous complaints and regulatory actions. According to the Consumer Financial Protection Bureau (CFPB), there were 344 complaints against Midland Funding in 2019, involving issues such as attempts to collect on debts not owed, threats of illegal actions, incorrect credit reporting, and false statements.
In September 2020, the CFPB sued Encore Capital Group and its subsidiaries, including Midland Funding, for alleged violations of the Consumer Financial Protection Act (CFPA), FDCPA, and Fair Credit Reporting Act. The lawsuit claimed the companies collected debts beyond the statute of limitations and pursued time-barred debts without proper disclosures. Additionally, in 2015, 42 states and the District of Columbia sued Midland Funding and Encore Capital for “robo-signing” affidavits without proper review.
Customer Service and Communication Issues
Customer service quality is another common theme in reviews. Some consumers praise Midland Funding’s representatives for being helpful, while others report poor experiences. A Consumer Affairs review from April 2024 mentioned:
“Don’t pay this company anything, they will breach any verbal agreement you have with them. Horribly rude representatives (James), managers, and supervisors. Even speaking to a stateside rep was pointless.”
Consumers often cite difficulties in reaching knowledgeable representatives, a lack of transparency, and inconsistent information from different staff members.
Conclusion
Reviews of Midland Funding LLC illustrate the complexities and challenges consumers face when dealing with debt collection agencies. While some have positive experiences resolving their debts, many others encounter aggressive tactics, questionable practices, and poor customer service. It is crucial for consumers to understand their rights and responsibilities when dealing with such agencies. Seeking advice from credit counselors, consumer protection agencies, or legal counsel can help navigate these challenges and protect consumer rights.
Regulatory bodies and consumer protection agencies continue to monitor companies like Midland Funding LLC and take action when consumer protection laws are violated. Consumers who believe they have been treated unfairly should consider filing complaints with the CFPB or their state’s attorney general’s office. Open communication, thorough documentation, and a clear understanding of one’s rights are key to resolving debt issues and safeguarding financial health.