A Mankato debt collector lost his license and agreed to perform community service or pay a $75,000 fine after an audit by the Department of Commerce found his company owed clients almost $200,000.
Nathan A. Meehling's former company, Accounts Receivable Control Inc., owed money to hundreds of clients, even after it had collected those funds from debtors, the department said. His conduct as a debt collector demonstrated "financial irresponsibility and/or incompetence," the department said.
With the commerce department's assistance, Meehling sold the company to a new owner who has agreed to pay creditors and install financial safeguards. Last month, Meehling agreed to perform 600 hours of community service within two years or pay the fine. Read the Department of Commerce's action against Nathan Meehling here. Read the Department of Commerce's action against Accounts Receivable Control, Inc. here.
