Affiliated debt collection agencies LVNV Funding LLC and Resurgent Capital Services LP have settled with the Maryland State Collection Agency for violations of state and federal collection laws. As reported by BizJournals.com, the debt collectors will pay a $1 million penalty to the State of Maryland and dismiss 3,564 of their pending collection cases.
Although thousands of pending cases totaling approximately $7.7 million in claims are being dismissed, the agencies will be able to re-file the claims pursuant to their agreement with the Maryland Commissioner of Financial Regulation. Additionally, the debt collectors will give more than $3.8 million in credit to 6,200 consumers who have settled or adjudicated cases with the agencies.
The settlement allows the two agencies to have their collection licenses fully reinstated and to avoid an admission of liability. Throughout the case, the agencies have denied any wrongdoing, but agreed to the settlement to put an end to the ongoing court case.
At the Law Offices of Howard D. Silver, we understand how difficult it can be to put an end to unfair debt collection without the proper legal assistance. Ventura fair debt collection lawyer Howard D. Silver has the skills and resources needed to put an end to your problem. For a free consultation call us today at (855) 341-2611.