All debt holders should be so lucky. A Lake Success debt-purchase and collection company has agreed to cancel more than $3 million owed by 861 residents in West Virginia because it didn’t have a license to operate in the state.
The agreement that Excalibur I LLC entered into with that state’s attorney general calls for the cancellation. The company also has to refund nearly $28,000 it had collected from residents, according to a news release issued by the attorney general’s office. It also has to withdraw 119 collection lauwsuits filed against West Virginia consumers.
The attorney general began investigating Excalibur last year after learning that it was collecting debts and filing lawusits against West Virginians without a collection-agency license.
The company couldn’t be reached for comment.
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