Mnet Financial Inc or MFI is a debt collection agency, which receives a lot of consumer complaints to our law firm for debt harassment. Find out who they are, why they might be calling, and how you can stop them.
What is Mnet Financial?
Mnet Financial, Inc. (MFI) is an accounts receivable management firm based in Southern California that specializes in third-party medical debt collection. MFI has received consumer complaints alleging violations of the Fair Debt Collection Practices Act (FDCPA), including making false statements and attempting to collect debts not owed. If you have been contacted by this debt collector, make sure you understand your rights before responding.
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Is Mnet Financial a scam?
They’re legit. According to the Better Business Bureau (BBB), Mnet Financial, Inc. was founded in 2005. The BBB established a profile page for MFI in 2013. MFI is listed as a collection agency, collection system, and billing service. Buzzfile estimates MFI’s annual revenue at $1.2 million and the size of its headquarters staff at 9 employees.
According to its website, MFI “is the superior choice in collection services for the healthcare sector.” MFI utilizes “innovative approaches for the collection industry” that have made them a “leader in receivable management solutions.” MFIs “unlimited access to…resources and tools… equip providers with better accounts receivable tools and a true bad debt recovery partnership.”
Who does Mnet Financial collect for?
Mnet Financial collects delinquent debts exclusively for healthcare and medical providers. Their services include bad debt recovery “with trained healthcare call center representatives and letter notices that appeal for balances owed to the provider.” Mnet’s online pay-plan management service gives patients “the ability to manage their account with an automated monthly remitted payment plan.” Mnet also offers pre-collection services, including pre-collect payment monitoring “to act as an extension of clients’ billing offices”; and early-out services that act as “a billing option for medical providers to recollect low age accounts receivable without credit reporting to reinforce patient remittance for balances owed.”
MFI’s patient resources pages include links to MFI’s payment portal; payment scheduling reminder setup; complaint submissions, including stop-call requests and billing disputes; and links to the federal free credit report site, frequently asked questions, and a web-based contact form.
Who are we? We are Lemberg Law, a Consumer Law Firm
Lemberg Law is a consumer law firm helping victims of collection harassment and abuse. We are ranked A+ by the BBB. We’ve helped more than 15,000 consumers stop harassment and recover money from debt collectors. Harassed? Abused? Misled by a collector? Call our Helpline today! There is no charge unless we win.
How many Complaints are there against Mnet Financial?
As of April 2018, the BBB has given Mnet Financial a rating of F. The BBB has closed 8 complaints against MFI in the preceding 3 years, with 1 complaint closed in the past 12 months. All of those complaints alleged problems with billing and collections. Since June 2016, the Consumer Financial Protection Bureau (CFPB) has closed 13 complaints. Justia lists at least 1 case of civil litigation involving MFI.
It is illegal for a debt collector to make empty threats to sue you or garnish your wages. It is also unlikely Mnet would sue you for a debt you may not owe or they cannot validate. However, debt collection agencies are known to have summoned debtors to court and garnish wages after a default judgement. Contacting an attorney BEFORE this could possibly happen would be a smart move. We’ve helped thousands of consumers fight back against unscrupulous debt collection harassers. Find out if we can help you too today!
Complaints against Mnet Financial commonly cite problems resulting from disputes about the validity of debts and the accuracy of information reported to the credit reporting agencies. In December 2016, a complainant indicated he had identified a collection item from MFI on his credit report that he alleged did not belong to him. He stated that MFI had never sent him any collection notices and never gave him an opportunity to “dispute these allegations or request… validation of them as required by law.” The complainant indicated that he had “already disputed this debt on at least two occasions through the credit bureaus without success.” He requested that the item be immediately and permanently removed from his credit reports, and that all collection efforts permanently cease on the identified account. In response, MFI indicated that “several statements went out to the consumer at the address provided by the original creditor. Additionally, 5 messages were left to the number on this complaint and no return call was received.” The complainant’s rebuttal indicated that their response was inadequate and did not resolve any of his concerns.
In May 2016, a complainant indicated he had disputed the validity of a debt. The bill indicated the charge was from a surgery center, and the complainant indicated that his “insurance company paid this debt in full.” The complainant indicated he had sent official complaints to the “Federal Trade Commission, the Consumer Financial Protection Bureau,… the Office of the Attorney General, the Department of Financial Institutions, the Department of Corporations and the Better Business Bureau” and requested that all “collection actions regarding this debt cease and …that this debt be sent back to the original creditor.” In response, MFI indicated that they would “validate the debt according to the FDCPA and send written confirmation to the consumer at the address specified in this complaint.” However, they also stated that their “records show this balance is still due and owed.” The complainant rejected MFIs attempted resolution. Mnet Financial responded by stating that the original creditor had confirmed the validity of the debt, and that the complainant should contact his insurance company to address any further disputes.
Mnet Financial Calling You?
Federal laws protect you. The Fair Debt Collections Practices Act (FDCPA) regulates the behavior of collection agencies by prohibiting actions such as the use of abusive or threatening language; harassment; or the use of false or misleading information to collect a debt. The FCRA regulates how collection agencies and creditors report delinquent debts to credit reporting agencies. Additional consumer protection laws include the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA).
Can I sue Mnet for harassment?
Yes. If you want to enforce your rights, or recover money for violations — you need to sue. Federal laws provide individuals like you with a means to seek monetary damages in court. For example, the FDCPA allows consumers who have been violated to recover damages of up to $1,000, plus attorney fees and court costs.
“I can not praise your service enough. I was lost and only really wanted my credit report cleaned up. You’ve gone beyond my expectations. Thanks again!”
“Thanks to the staff at Lemberg Law, I have peace of mind again. They worked quickly to find the harassing calls were super considerate when I talked with them. I love the hard work”
“Thank you so much! With your help the nagging collection calls have ceased! I was thrilled I was also able to get damages from the collection agency. I am unable to adequately express my joy. I am so thankful I made the call.”
”Lemberg Law has saved me from the endless calls, and harassing voicemails. They really do go to bat for you. I didn’t know that debt collection agencies can end up paying your legal bill. What a surprise, to receive free legal help. I’m very grateful for all the hard work they did to finally give me my life back.”
Can You Help Me Delete Mnet Financial from My Credit Report?
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About the Author:
Sergei Lemberg is a lawyer whose practice focuses on consumer law, class actions and personal injury litigation. He has been repeatedly recognized as the “most active consumer attorney” in the country. In 2020, Mr. Lemberg represented Noah Duguid in the United States Supreme Court in the case entitled Duguid v. Facebook. He is the author of Defanging Debt Collectors, a book that teaches consumers how to battle debt collectors and win.