Junk Debt Buyer: The Many Faces of Midland Funding

At the very top of the Midland corporate family is  Encore Capital Group, Inc.

Encore Capital Group, Inc. is a publically traded company (ticker symbol: ECPG) with it’s headquarters located at  8875 Aero Drive, Suite 200 San Diego, California.

Some of the known affiliates and  subsidiaries of Encore Capital include:

  • Midland Funding, LLC (usually the one that sues you)
  • Midland Credit Management, Inc. (the one that destroys your credit)
  • MRC Receivables Corporation
  • Midland Funding NCC-2 Corporation

Midland Funding, LLC is the entity that is usually the one named as Plaintiff or as an “Assignee” on a lawsuit.  Good luck trying to pick up the phone and call Midland Funding, LLC.  This is usually just an LLC set up in your state created for purpose of suing consumers by the thousands.  No real employees or business locations.  Just a “shell”.

Midland Credit Management, Inc. “MCM” is the subsidiary of the company that does the “servicing” of the accounts.  This includes adding those trade line entries to your credit reports.

According to it’s website, “Encore Capital Group and its subsidiaries is a widely acknowledged leader in the consumer debt buying and recovery industry.  From our inception through year-end 2009, we invested approximately $1.4 billion to acquire 28.8 million consumer accounts with a face value of approximately $43.8 billion.” Accessed July 30, 2011 from http://www.encorecapital.com/partners

We also have one of the industry’s largest distressed consumer databases containing information regarding approximately 25 million consumer accounts. We believe that our specialized knowledge, along with our investments in data and analytic tools, have enabled us to realize significant returns from the receivables we have acquired. From inception through December 31, 2011, we have invested approximately $2.1 billion to acquire 40.1 million consumer accounts with a face value of approximately $66.4 billion.Source

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