Wednesday, January 20, 2010

Massive debt collection firm closes its doors

Mann Bracken, one of the country's largest debt collection firms, suddenly went out of business this week. They were based out of Maryland, but had 24 offices across the country. On Thursday, a Maryland judge dismissed tens of thousands cases handled by the firm. They also have cases in every other county in Maryland and many more cases pending across the country.

The firm blamed its failure on the bankruptcy filing of a company that handled its support services. That is amazing. Didn't that bankrupt company have any competitors that could have picked up the slack for this firm? More details here.

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