Mar 24, 2011 Kyle Duncan
A debt collection agency and buyer of consumer debt released what it considers to be the first bill of rights for the industry. Encore Capital Group revealed its Consumer Bill of Rights, which details the company's commitment to proper consumer engagement and collection practices. Encore Capital, which is a subsidiary of Midland Credit Management, laid out a number of bullet points that it believes will alleviate much of the fear and perceived abuse voiced by consumers. Among their primary goals, Encore Capital promises to treat consumers with dignity and resolve cases in a timely manner. "In this document, we're embracing that feedback to take an industry-leading approach to help our consumers regain their purchasing power despite the lingering economic challenges," said J. Brandon Black, Encore Capital's chief executive officer, in a statement. Additionally, the company says it will halt collection when a consumer has demonstrated permanent hardship. The company will also drop fees for consumers who repay debts according to an agreed schedule. Additionally, Encore Capital will rely on the "fair and reasonable use of litigation" to resolve cases, and promises not to resell consumer information.