This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Encore Capital Addresses Sixth Circuit Opinion

SAN DIEGO, Feb. 26, 2013 /PRNewswire/ -- Encore Capital Group, Inc. (Nasdaq: ECPG), through its subsidiaries (the "Company"), a leading provider of debt management and recovery solutions for consumers and property owners across a broad range of assets, addressed today's Sixth Circuit court decision which remanded the class action settlement in Vassalle, et al. v. Midland Funding LLC, et al. back to the U.S. District Court in Ohio for further proceedings.

In the decision, the Sixth Circuit left in place the repeated holdings of the U.S. District Court that Midland's affidavits accurately stated the class members' obligations and that no class members incurred actual damages as a result. The same trial court also oversaw a process which recently determined that Midland's procedures are sound and designed to produce affidavits that accurately describe the underlying debts.

Greg Call, senior vice president and general counsel of Encore Capital, said, "We are confident in the work that has been done to date to resolve this case fairly, and will continue to work with the trial court to address the issues raised by the Sixth Circuit.  It's important to note that throughout this process, the validity of the underlying debt and the consumer's financial obligation to repay it have never been called into question."

Midland took steps to correct the underlying issue years ago, and has continued to build on its commitment to operating with integrity and treating consumers with the respect they deserve. This is reflected in Midland's industry-leading Consumer Bill of Rights, which clearly outlines the company's commitment to conduct business ethically, engage in respectful dialogue with consumers, and play a positive role in their financial recovery. (

About Encore Capital Group, Inc.

Encore Capital Group is a leading provider of debt management and recovery solutions for consumers and property owners across a broad range of assets. Through its subsidiaries, the Company purchases portfolios of consumer receivables from major banks, credit unions, and utility providers, and partners with individuals as they repay their obligations and work toward financial recovery. Through its Propel Financial Services, LLC subsidiary, the Company assists property owners who are delinquent on their property taxes by structuring affordable monthly payment plans.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,786.88 +10.45 0.06%
S&P 500 1,981.76 -5.29 -0.27%
NASDAQ 4,737.8880 -43.3760 -0.91%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs