Movie Gallery, States Settle Debt Collection Suit

Law360, New York (May 5, 2011, 8:39 PM EDT) -- The liquidating trustee of bankrupt Movie Gallery Inc. on Thursday reached a settlement in Virginia with all 50 states over the defunct movie rental chain’s hardnosed collection efforts and credit reporting campaign.

Montana Attorney General Steve Bullock announced that his office finalized an agreement with Movie Gallery and its bankrupt subsidiary Hollywood Video that prevents the companies from continuing their allegedly abusive efforts to collect hundreds of millions of dollars in late fees from former customers.

“In today's economic environment one black mark on your credit...
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