Jump to content

Midland, Maryland, and how much they pay for debts


Randomalities
 Share

The last post in this topic was posted 2549 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

Quick question, I know Midland has been sued in the state of Maryland. In the major case, does anyone know if they ever disclosed how much they typically pay for debt (ie what the discount is versus the face amount of the debt).

 

My friend is going to court today, and although Midland has submitted their purchase agreement with Credit One, it says that because his debt was purchased as part of a package, they do not know how much they spent to acquire his specific debt.

 

I feel that his argument is that if they don't know how much they spent, they have no idea what he actually owes them, so he owes them nothing (or some alternate, lower dollar amount).

 

Thoughts?

Link to comment
Share on other sites


Midland knows exactly how much they pay for the accounts they buy. The problem is extracting the information from the attorneys they hire to represent them. Some don't know and others would rather fall on a sword than divulge that information.

 

Depending on the amount of the debt, Midland starts out with local rent-a-lawyers that only show up to get a easy default judgment or the defendant fails to present a valid argument.

 

If the defendant shows up and starts asking for a chain of custody on the debt; questioning the bill of sale and forward flow agreement, the attorney representing Midland may fold and or another attorney may be substituted depending on the amount of the alleged debt.

 

Phony affidavits and affiants who know nothing about how Midland keeps records are de rigor for junk debt buyers.

 

The best thing to do is object to every piece of paper the attorney presents as hearsay. Ask for the forward flow agreement that shows what Midland payed for the account . Attack the chain of custody, junk debt buyers cannot prove the link between the original creditor and them.

 

For a quick primer see 'How to Defend Debt Buyer Lawsuits' by Peter A. Holland.

Link to comment
Share on other sites

The last post in this topic was posted 2549 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share




  • Member Statistics

    • Total Members
      185276
    • Most Online
      2046

    Newest Member
    Nolo
    Joined
×
×
  • Create New...

Important Information

Guidelines