NM settles with Illinois debt collection company

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ALBUQUERQUE–The New Mexico attorney general’s office has reached a settlement with an Illinois debt collection company.

ALBUQUERQUE–The New Mexico attorney general’s office has reached a settlement with an Illinois debt collection company. The state sued Chicago-based Merchants’ Credit Guide Company in August 2007, alleging the company tried to collect debts that were legally unenforceable because the statute of limitations had run out. The lawsuit sought a judge’s order requiring the company to tell people that debts in which time had run out could not be enforced in any court. As part of the settlement, the company agreed to do so. In the settlement agreement, Merchants’ Credit Guide denies liability or wrongdoing. It said it signed the agreement to resolve the litigation and to avoid further costs, fees and expenses. AP ______ Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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