July 5th, 2017 by WCBC Radio
West Virginia Attorney General Patrick Morrisey reached a settlement with a debt collection company resulting in more than $150,000 in debt cancellation for West Virginia consumers.
The settlement involves two New York-based companies, Northwood Asset Management Group, LLC and Alliant Capital Management, LLC. It resolves allegations that Northwood collected debts for Alliant without a license to do so in West Virginia.
“Debt collection agencies must operate within the boundaries of the law,” Attorney General Morrisey said. “Our office is pleased to reach an agreement that cancels improperly collected debts for consumers in the Mountain State.”
The Attorney General’s Office alleged the companies had violated the state’s Consumer Credit and Protection Act. The investigation involved Northwood’s alleged collection of debts without a state license or surety bonds and its failure to obtain a certificate of authority from the Secretary of State’s Office.
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