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pacemaker67

Close to SOL, will a SSL poke the bears?

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22 hours ago, RocketGoBoom said:

That is basically how it will all play out. It is incredibly fun.  

Thank you again,  I am saving this info!  I appreciate your advise.  If I had posted this over at MyF@!#, I would have been told to contact everyone and start paying $200 per month on all of them...  waking the entire forest of bears.

 

Hopefully I can sneak through the next months doing what I can for now and then start my battle in earnest. 

 

Questions:

On the two big ones, does Midland likely own that debt?

 

What are the chance of any of the others that were charged off 4+ years ago suddenly turning into  CA's...  assuming I do not contact them etc?

 

 

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18 minutes ago, sgleich said:

Questions:

On the two big ones, does Midland likely own that debt?

 

What are the chance of any of the others that were charged off 4+ years ago suddenly turning into  CA's...  assuming I do not contact them etc?

 

 

What does it say on your credit files exactly?

Midland has a junk debt buying side. It might say "Midland Investment Fund 1 (or 2 or 3)". Something like that.

Then Midland also has it's collection agency division. Midland Credit Management Inc.

 

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18 minutes ago, sgleich said:

Questions:

On the two big ones, does Midland likely own that debt?

 

What are the chance of any of the others that were charged off 4+ years ago suddenly turning into  CA's...  assuming I do not contact them etc?

 

 

What does it say on your credit files exactly?

 

Midland has a junk debt buying side. It might say "Midland Investment Fund 1". (or 2 or 3) Something like that. They have different funds that buy different batches of defaulted debts from large banks.

 

Then Midland also has it's collection agency division. Midland Credit Management Inc. They do all of the collections for their own investment funds. I think they also do collections for others.

 

https://www.midlandcreditonline.com

 

I had a few encounters with Midland back a few years ago. People here on CB seem to think Midland is tough. But I found them to be just as easy as any other CA/JDB. They are one of the largest. You are just a number to them. It is nothing personal. They won't invest money in a lawsuit that doesn't make sense. They can be chased off easily.

 

 

 

 

 

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Midland Funding LLC.  Both opened 7/2015

 

The two Sync CO's remain stating "charged off" and "closed"  DOFD in 2-2014 and 3-2014

 

I wonder who wrote this jive?

"Midland Funding LLC works with its affiliate, Midland Credit Management (MCM), to service accounts.  MCM is dedicated to helping consumers find their way back to financial stability and relieve the emotional stress that can accompany unpaid debt.

MCM helps consumers arrange payment options that fit each person’s unique financial situation.  By working with MCM directly, consumers can regain financial control over their personal debt.

MCM understands that debt needs to be organized in such a way that makes repayment manageable for the consumer. Consumers can rest assured that they will be treated fairly and respectfully by MCM representatives."  :)

Edited by sgleich

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2 hours ago, RocketGoBoom said:

 

Then Midland also has it's collection agency division. Midland Credit Management Inc. They do all of the collections for their own investment funds. I think they also do collections for others.

To add to and correct the following:

 

Midland Funding LLC.  Both opened 1/2015  (I looked at my files today and I have received  6-7 "pre-legal action letters on each collection, the last one was dated 7-2017, the latest letters from 14 months ago offered a 70% off deal.  I obviously did not take it and I have never responded, talked to them etc.)

 

The two Sync CO's remain stating "charged off" and "closed"  DOFD in 2-2014 and 3-2014

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Quote

I have received  6-7 "pre-legal action letters on each collection, the last one was dated 7-2017, the latest letters from 14 months ago offered a 70% off deal.

 

Did it really say something like that? "pre-legal" as if implying that you are about to be sued?

 

If they in any way threatened or implied a threat of a lawsuit, then did not actually file the lawsuit, that is an FDCPA violation. If I received a letter like that and no lawsuit is filed within 60 days by them, I would nail them for it. Easy $1,000 and it will hold up in court if they try to get the case dismissed.

 

https://www.thebalance.com/debt-collector-fdcpa-violations-960603

 

 Threaten action they cannot or will not take

 

Collectors can't threaten to sue or file charges against you, garnish wages, take property, cause job loss, or ruin your credit when the collector cannot or does not intend to take the action. [15 USC 1692e] § 807(5)

 

https://www.law.cornell.edu/uscode/text/15/1692e

 

(5)

The threat to take any action that cannot legally be taken or that is not intended to be taken.
Edited by RocketGoBoom

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On 9/12/2018 at 3:01 PM, centex said:

If the reporting of the NFCU card did not bring anyone from the woodwork, it is unlikely that a new loan will do so.  The broader question is whether NFCU will write the loan.  If they will write the loan, then I would be inclined to go for it and then let those funds go to work for you...

It was a secured hase loan (SSL) and it went right through without docs or any pull.  Highly recommended product!

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On 9/16/2018 at 5:17 PM, RocketGoBoom said:

 

Did it really say something like that? "pre-legal" as if implying that you are about to be sued?

 

If they in any way threatened or implied a threat of a lawsuit, then did not actually file the lawsuit, that is an FDCPA violation. If I received a letter like that and no lawsuit is filed within 60 days by them, I would nail them for it. Easy $1,000 and it will hold up in court if they try to get the case dismissed.

 

https://www.thebalance.com/debt-collector-fdcpa-violations-960603

 

 Threaten action they cannot or will not take

 

Collectors can't threaten to sue or file charges against you, garnish wages, take property, cause job loss, or ruin your credit when the collector cannot or does not intend to take the action. [15 USC 1692e] § 807(5)

 

https://www.law.cornell.edu/uscode/text/15/1692e

 

(5)

The threat to take any action that cannot legally be taken or that is not intended to be taken.

Did I poke the bear?

 

Sorry for the delay...  had to attend to work etc.    I am not sure if I should be getting worried about these two Midland accounts.  There was radio silence for quite awhile but they did send a letter a few weeks ago with beefed up "Pre-Legal Notification" and "Final Notice" in Bold red text.  I had gotten several "Pre-Legal Notifications" before but not the "Final Notice" version.    These two sat in a bin for a few weeks apparently as they were sent to the office and looked like typical junk mail. (Secretary did not open them)  I finally saw them myself today and found that they had a drop dead date of 10-8-2018 to take action:

 

After numerous attempts to contact you regarding this account, Midland Credit Management, Inc (MCM) will transition your account into the attorney review process after 10-08-2018  Call (800)-939-2353 now.

 

If your account is moved to an attorney or legal firm, the MCM pre-legal department will be unable to offer a flexible payment arrangement or stop any potential litigation process. If this process results in litigation, and a judgement is entered against you, the judgement will be enforceable according to state law.

 

This is the final written communication you will receive prior to entering the legal review process.  Your prompt attention is necessary to avoid the possibility of legal action.

 

SOL is March and April for these two accounts.  They have also resumed calls as of late. 

 

They have sent letter before that said they will consider forwarding to an atty and have also sent 70% off letters.  It is getting down to the wire for them regarding SOL and after opening these letters today, I am a bit freaked out.  I suppose it is time to start my official rebuilding thread(s)!  Ideas?  Experience?  Is Midland lurking here?

 

Details: 

SyncB Lowes = $11,XXX.00

SyncB Sams = $7,XXX.00

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I owed over 70k in CC debt. I waited, regardless of the amount till my SOL was completely up. I didn't want to take the chance and I wouldn't over just 6 months time. I didn't get sued at all and I had balances over 15k on one card and close to 5k on others. 

 

I'm sure someone from Midland lurks here - never use actual balances, or anything to identify yourself in general to them or others just as a general rule of thumb :)

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2 hours ago, shadekitty said:

I owed over 70k in CC debt. I waited, regardless of the amount till my SOL was completely up. I didn't want to take the chance and I wouldn't over just 6 months time. I didn't get sued at all and I had balances over 15k on one card and close to 5k on others. 

 

I'm sure someone from Midland lurks here - never use actual balances, or anything to identify yourself in general to them or others just as a general rule of thumb :)

Questions:  Waited until what?  What did you end up doing after SOL?  Are you out of the woods entirely now?

 

I may have let a little too much info out of the bag...    I have another thread going on this subject as well. 

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I am completely past SOL now for my state by 2 years. I started cleaning up right after my SOL was official. I didn't touch any of it until then.  Didn't get sued, and I'm hoovering right at 700 now. I burned a lot of big names - so my choices for credit now are slim, so sadly I'm building with toy limits - which is fine since I don't need credit right now - but I'll get there. 

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5 hours ago, shadekitty said:

I am completely past SOL now for my state by 2 years. I started cleaning up right after my SOL was official. I didn't touch any of it until then.  Didn't get sued, and I'm hoovering right at 700 now. I burned a lot of big names - so my choices for credit now are slim, so sadly I'm building with toy limits - which is fine since I don't need credit right now - but I'll get there. 

That is likely the best way to do it.  I will have a tense few months here since I began a bit early and have had my scores go up 100 points from the bottom.   I don't need credit right now either, just some positive history is what I have been after.

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On 10/24/2018 at 8:33 AM, shadekitty said:

I burned a lot of big names - so my choices for credit now are slim, so sadly I'm building with toy limits - which is fine since I don't need credit right now - but I'll get there. 

 

You have plenty of choices. There are quite literally HUNDREDS of credit unions that will allow anyone to join. You can often make a $10 to $20 donation to some partner non-profit association and qualify for CU membership. Then you can get their rewards credit card or other loan products.

Edited by RocketGoBoom

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On 10/22/2018 at 12:08 PM, pacemaker67 said:

They have sent letter before that said they will consider forwarding to an atty and have also sent 70% off letters.  It is getting down to the wire for them regarding SOL and after opening these letters today, I am a bit freaked out.  I suppose it is time to start my official rebuilding thread(s)!  Ideas?  Experience?  Is Midland lurking here?

 

 Details: 

SyncB Lowes = $11,XXX.00

SyncB Sams = $7,XXX.00

 

Save those "pre-legal" letters for the remainder of the time till the SOL is past on the Midland items.

 

Then after the SOL is past on Midland, you can go to war with them. Those legal threats were FDCPA violations if Midland doesn't actually file a lawsuit against you before the SOL is past. I mentioned this above.

 

If it were me, I would just start the credit repair now. I go full 100% on offence right away and I don't worry about getting sued. Like I have said before, lawsuits are extremely rare and even if you do get sued it is easy to chase them off just by filing an answer and showing up in court. 

 

But not everyone has the ability to fight that type of war, so I advise other to be careful before trying the same as me.

 

You can safely do the credit repair now on any small collection items under $1,000. Those won't sue you. 

 

But if you are really worried about the lawsuits, just wait a few more months on the big accounts.

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6 hours ago, RocketGoBoom said:

 

Save those "pre-legal" letters for the remainder of the time till the SOL is past on the Midland items.

 

Then after the SOL is past on Midland, you can go to war with them. Those legal threats were FDCPA violations if Midland doesn't actually file a lawsuit against you before the SOL is past. I mentioned this above.

 

If it were me, I would just start the credit repair now. I go full 100% on offence right away and I don't worry about getting sued. Like I have said before, lawsuits are extremely rare and even if you do get sued it is easy to chase them off just by filing an answer and showing up in court. 

 

But not everyone has the ability to fight that type of war, so I advise other to be careful before trying the same as me.

 

You can safely do the credit repair now on any small collection items under $1,000. Those won't sue you. 

 

But if you are really worried about the lawsuits, just wait a few more months on the big accounts.

Thank you Rocket.  All letters are saved.  I was saving them even during my hiding my head phase since I knew they may be needed at some point.  I am in a stressful time right now awaiting SOL and dreading what might occur until then.  So do you think waiting it out and then attacking with arbitration demands if they sue is the best idea?  I have no idea how to draft such a suit or whatever would need to happen. 

 

As I have said, there are these two large collections but 9 other charge offs ranging from $512 - 16k  (that one was 10k originally and still held by OA).   No real action or collection placement has ever been taken by any of these except one... 

 

Upon your suggestion earlier in this thread or another, I started checking the local county court online for filings and just found that I had indeed been sued in 7-2015 by Cap1 with a default Judgement entered in 8-2015.  I was never served and am 100% certain my Wife and kids did not receive anything as I would have certainly heard about it.  And since I have never been served, I most certainly would have remembered that event.  All this time I thought I had NOT been sued.  That totaled 7.5k but had been an original balance of 5k or something.  I can't believe I never thought to monitor local filings!  They were quick to take action.

 

I also found a settlement offer from earlier this year from their local attorney wanting to settle for 50%...  I just filed it when I got it since I had no idea they had a freaking judgment against me.

Edited by pacemaker67

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49 minutes ago, pacemaker67 said:

As I have said, there are these two large collections but 9 other charge offs ranging from $512 - 16k  (that one was 10k originally and still held by OA).   No real action or collection placement has ever been taken by any of these except one... 

  

 

As I said, you can attack the small collections now. No need to wait.

 

50 minutes ago, pacemaker67 said:

Upon your suggestion earlier in this thread or another, I started checking the local county court online for filings and just found that I had indeed been sued in 7-2015 by Cap1 with a default Judgement entered in 8-2015.  I was never served and am 100% certain my Wife and kids did not receive anything as I would have certainly heard about it.  And since I have never been served, I most certainly would have remembered that event.  All this time I thought I had NOT been sued.  That totaled 7.5k but had been an original balance of 5k or something.  I can't believe I never thought to monitor local filings!  They were quick to take action.

 

I also found a settlement offer from earlier this year from their local attorney wanting to settle for 50%...  I just filed it when I got it since I had no idea they had a freaking judgment against me.

 

If it were me, I would file a motion with the court to vacate the judgment due to lack of service. But you probably don't know how to do that. You can google the process and probably figure it out.

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