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I have two collection accts. with Midland. One is for $870 and the other for $940 or so. I have disputed (the original amounts were incorrect) and they came back corrected and verified. Should I attempt PFD? If that's a no-go, should I PIF or just try to settle for a lesser amount. They send me offers every few months to settle for around $540 each. It's another 3 years before they SOL is up and I'd like to get them off/paid before then so I can get my credit back in order.
Just a note:
I've already opted out, I've requested old addresses to be removed, I've ordered paper reports - I do have a TU from online as a 'summary' for now.
Today I received a letter from Midland/MCM that they are the new owner of my Credit One credit card with a balance of $648.17. I'm about 120 days
behind and I guess they sold it. I do owe the money.
That said....the letter states they are the new owner and considering forwarding this account for possible litigation. If they don't hear from me by 12/15 they'll proceed.
To stop from continuing I need to mail $300 or call to see if I qualify for discounts or payment plans.
Then at the bottom it says "we will not report your debt to the credit bureaus if you set up a payment plan, make a payment by 1/31/15 and make all payments as agreed."
Had a collection with Midland pop up for an old Orchard Bank card. Account was outside SOL, sent FOAD letter.
Below is the response I received:
The purpose of this letter is to advise you that you did not provide sufficient information to investigate your dispute of the credit reporting of your above-referenced account pursuant to the Fair Credit Reporting Act.
We understand you are disputing the accuracy of our records concerning the above referenced account. After reviewing the information you provided, as well our own account notes, and information provided by the previous creditor, we are unable to determine the nature of your dispute, and consequently deny that our records are incorrect.
In order to further investigate your dispute, we need additional information to help verify the basis of your dispute. Including a complete explanation of your dispute would be helpful. Further, copies of any documentation you may have to support your dispute. In the interim, we have requested that the three major credit bureaus change the status of this account to “Disputed”.
Examples of documentation we need or which would be helpful include the following:
Paid in Full or Account Settled: a) a copy of the front and back of payment instrument with copy of settlement offer or statement showing balance and account number; a copy of the paid in full or settlement letter showing account number.
Fraud or Identity Theft: a) a copy of a police report; Federal Trade Commission Fraud Affadavit that has been filled out (which can be obtained at www.ftc.gov/idtheft); or c) notarized fraud affidavit.
Balance Discrepancy: a) copy of contract that states rates for time frame of disputed service; a copy of bills or statements that show amount owed or rates; c) a more detailed explanation of disputed charges.
In the meantime, as requested by you, we will no longer be contacting you regarding this account by phone or mail unless it is to further respond to a dispute by you under the Fair Credit Reporting Act.
The account may still be reported on your credit report as unpaid.
So at this point, not sure what to do next. In the past, if one of these pesky ghosts popped up, a good slap always sent them scurrying back into the gutter. This time, Midland did as they said, and updated the listing with the three CRAs.
I was preparing to send a FOAD letter to Midland regarding an old HSBC account. The DOFD was May 2009.
What worries me is I currently reside in Maine, where SOL is 6 years.
HSBC account was Nevada (4 Years). HSBC accounts were acquired by CapOne in Virginia (3 years). I was living in Pennsylvania when the account was opened (4 years).
Surely moving to a state with a longer SOL, after the SOL had already passed, does not suddenly reopen the window for litigation?
How do I know what applies?
I had another post but thought it may be best to start a new one with this information.
I disputed Midland's collection on my TU report and this is what is now written as a note:
"Account information disputed by consumer (Meets requirement of the Fair Credit Reporting Act)."
So basically they verfied the debt but that doesn't mean that it's validated correct? I could send them a DV letter? I'm still reading up on boards every chance I get. This debt is the only negative on two of my reports (besides some late fees).
Midland is currently NOT showing on my EQ report (that one appears to be my cleanest) and this what is listed on my EX:
MIDLAND FUNDING Potential Negative Closed Account Name: MIDLAND FUNDING Account #: XXXXX Balance: $140 Date Opened: 8/1/2011 Account Status: Closed Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department At this point, I'm little lost. I have been reading anything and everything regarding them and DV and PFD. In this case they seemed to have have closed the account but on my TU report it is open. I just would love to have some advice on what my next step should be. How can the account be closed AND be opened at the same time?? What in the world do I do now?