Debt collection -- Attempts to collect debt not owed -- Complaint #8463468
Complaint Overview
Complaint ID: 8463468
Company: Encore Capital Group INC.
Product: Debt collection
Sub-Product: Credit card debt
Issue: Attempts to collect debt not owed
Sub-Issue: Debt was paid
State: Missouri
ZIP Code: 630XX
Date Received: 2024-03-02T12:00:00-05:00
Date Sent to Company: 2024-03-02T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/year> I received an email from Midland Credit Management claiming that I owed debts that are already paid. This company has employed ways of misrepresentation in claiming that I owe them payment. Per the prospectus report of XXXX XXXX, it states " The primary source of funds for the payment of principal of and interest on the notes is the collateral certificate issued by the XXXX trust to the issuance trust. '' See XXXX XXXX. Per the same prospectus, it states that " XXXX trust makes payments on the notes ( principal payments reduce the nominal liquidation amount of the notes and the invested amount of the collateral certificate ) ''. How then does the consumer/invertor owe any debt if the master trust makes principal payments relating to XXXX 's XXXX in the master trust? Midland Credit Management seems to have employed some type on money scheme and has furnished deceptive statement that coerces the consumer into believing they owe a debt. Per the current flow chart of the same prospectus, I am the consumer/investor and the amount you claim is due to you, are notes/credits due to me. After my tendered, endorsed and signed application was submitted, it was then converted into a receivable/treasury marketable security by XXXX Credit Card XXXX XXXX XXXX XXXX from there XXXX XXXX XXXX receives payment for increase in collateral certificate. How is it that the consumer owes any debt? On pg. XXXX of the same prospectus, there it states that " The issuance trust will pay the proceeds from the sale of a class of notes to XXXX. XXXX will use such proceeds to increase the investor interest of the collateral certificate, acquire additional receivables, and for its general corporate purposes. XXXX will be responsible for the payment of all expenses incurred in connection with the selection and addition of accounts designated to the master trust. How then does the consumer/investor owe debts to you? Why then, was my open- ended revolving credit account closed for non-payment? Please see attached current flow chart.
Frequently Asked Questions
What is Complaint #8463468 about?
Complaint #8463468 was filed against Encore Capital Group INC. regarding Debt collection specifically about Attempts to collect debt not owed. It was received by the CFPB on 2024-03-02T12:00:00-05:00.
How did Encore Capital Group INC. respond to this complaint?
The company responded with: "Closed with non-monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Debt collection) and describe your issue in detail.
Can I see other complaints against Encore Capital Group INC.?
Yes, visit the Encore Capital Group INC. company profile at readthecomplaint.com/company/encore-capital-group-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.