August 11, 2017 12:33 PM
The Minnesota Commerce Department and regulators in four other states have announced a $500,000 joint settlement with two subsidiaries of iQor Holdings Inc. over what those agencies deemed as improper debt collection practices.
A release from the Minnesota Commerce Department said the settlement will be distributed equally among the five states that participated in the investigation: Minnesota, Connecticut, Idaho, Massachusetts and North Dakota.
The investigation focused on financial practices at Allied Interstate, LLC and The Receivable Management Services Corporation.
The release alleges Allied Interstate debt collectors were directed to call phone numbers previously marked as Do Not Call and to document the accounts REHAB PUSH to avoid potential disciplinary action for violating consumer protection requirements and company policy.
The release also claims Allied debt collectors called consumers at their places of employment even after learning those employers prohibited such calls, and that the company engaged in unfair and deceptive practices by failing to promptly credit debtor accounts when it received checks as payment.
The release goes on to say Allied and RMS failed to provide timely, full access to all collection records and failed to submit complete responses to requested information in a timely manner, as required under state laws.
Updated: August 11, 2017 12:33 PM
Created: August 11, 2017 11:37 AM
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