Short answer
Midland Funding LLC buys defaulted credit card debt and Midland Credit Management collects it. Both are part of Encore Capital Group. The cheapest time to resolve one of these accounts is early, before it reaches a collection attorney, and acting early can keep the account off your credit reports altogether.
Key points on this page
- Midland Funding is the debt buying arm. Midland Credit Management (MCM) is the collection agency. Same owner, different jobs.
- Resolve the account soon after Midland buys it and they may not report it to the credit bureaus at all. This offer is real, and few other collectors make it.
- Midland removes its credit reporting once you pay or settle. Deletion has been seen to take up to 60 days.
- A “Pre-Legal Notification” letter is not an empty threat. It means your file has been selected for collection attorney placement, and you still have time to settle before that happens.
- Settling after a collection attorney has the account commonly costs 20 to 40 percent more than settling before it goes to court.
- Sending a debt validation letter is your right, but it is counterproductive when you already know the debt is yours and your goal is the lowest possible settlement.
I recently spoke with a woman who had just been sued by Midland Funding LLC for a debt they bought from Citi bank. The amount she is being sued for is a few thousand dollars. She is being sued by a debt collection attorney in her state after collection attempts were first made by Midland Credit Management (MCM). Both Midland Funding and MCM are part of Encore Capital Group, which is one of few publicly traded debt buying companies in America, and one of the largest in the world.
I want to share the facts of her situation because they may help if you are getting collection notices and phone calls from Midland Credit Management, or if you are being sued by Midland Funding. Many of you reading this can prevent escalated collections from Midland in the courts, and anyone already in the courts will want to know how best to navigate things from here.
There will be many a reader just looking for why Midland Funding is appearing on your credit reports. Once you know why Midland is on your credit, many of you will want to know some things you can do to improve your credit.
Be certain to read the updates regarding Midland Funding on your credit reports that I posted at the end of the article. They have set themselves apart from any other debt collection company in the country by developing a consumer friendly credit reporting policy.
Credit card bills that go unpaid are packaged up in large bundles and sold off to bad debt investors in the normal course of lending. A portfolio of debt being bought by companies like Midland Funding could include your account, and thousands of other unpaid credit card bills.
Having your credit card debt bought by a debt buyer like Midland Funding is not unusual. And depending on how the debt collection and debt buying landscape changes in the next year or three, it could become even more common than we see today.
Midland Funding LLC and Midland Credit Management are Different
While Midland Credit and Midland Funding LLC share the same ownership under Encore Capital, each company does something different, and those differences matter to you. Midland Funding is the debt purchasing arm, while MCM will be recognized as the active debt collection agency, similar to how you would view any other debt collector.
Midland Credit Management sent a debt collection letter to the woman I reference above. Receiving a debt collection letter from a collection company you don’t immediately recognize is a normal occurrence. Collection agency letters and phone calls are the 2 primary ways a debt buyer, or the debt collectors they hire, will try to get you to pay.
You have options for handling the collection efforts from Midland Credit. If you are in a position to work out a settlement for less than what is owed on the now purchased account, doing so after the first phone call or collection letter you receive, is something to consider.
Understand that making arrangements to pay a debt buyer the full amount for a debt they bought is not going to go to your original creditor. The debt buyer is not a lender, but an investor. They are risking money to buy up bad debt to turn a profit.
Midland Funding is willing to accept less than the face value of your debt through its debt collection arm Midland Credit Management. How much less will vary. You are welcome to call me at 800-939-8357, ext 2, in order to get help settling with them.
Midland Funding generally shows up on your credit reports. Once on them, you cannot pay Midland to delete the derogatory in the first 2 years they have your account. You can negotiate a lower payoff and Midland Funding will update your credit reports to show the account is resolved and a zero balance owed. This will help you get a home loan through, and benefit you in other ways too.
There is a delay between Midland Funding buying your debt, and them reporting to the credit bureaus. Midland Credit Management will often start off the collection process by sending you a collection notice, or make collection phone calls that you may pick up. In the letter or phone call Midland may offer you the opportunity to settle or set up payments on your account in order to prevent the credit reporting of the collection account from occurring at all. As of the most recent update to this article, you have three months from the date they get your account to take advantage of this offer. If you can afford the money to settle, or set up payments you are confident you can pay each month, there are immediate and long term benefits to doing this. It is not a trick, they actually do this, and may be the only debt collectors making this type of offer.
If you want to settle with Midland Credit Management for less than the balance owed; can afford 50%; and sometimes spread out over 24 months; click the get debt help tab at the top of this page and create your user profile.
You can get help settling with MCM and have a deal done within days (as long as MCM has not already sent your account to a collection law firm). The Network I helped build has many negotiators, and we all charge 15% of savings. No savings, no fee.
Debt Validation Request Letter Sent to Midland Credit Management
The woman I refer to in this article sent Midland Credit a validation request in response to a collection letter MCM sent her. Sending a debt validation letter to a debt collector is your right. If for any reason you question the nature of the debt being collected, requesting validation from a collection agency or debt buyer will accomplish a couple of things:
- Triggers an obligation under federal law on the part of the debt collector.
- A written response from the debt buyer should include the original creditor, the amount owed, and these days, we are seeing some form of documentation to back up their claim (not simply a reference to their own spread sheet of debts they purchased).
- Debt buyers and debt collectors do not always respond to your request for validation, but the response is often sufficient to meet the standard that would allow them to continue to collect (the federal debt validation standard is low enough to trip over, your state law standard may be a little tougher).
- Debt buyers may never respond to a debt validation letter. The account may end up with a different collection agency, or sold off to a different debt buyer (Midland has not been much of a debt reseller of late).
Midland Credit Management did not respond to her validation request to her knowledge.
It is not uncommon for a debt buyer to ignore a validation request. The reason validation of debt requests are ignored by Midland Credit Management, and other debt collectors and debt buyers, is that sometimes no meaningful information was included when the debt was purchased. There are sometimes options to acquire detailed information from the original creditor at an additional cost, but that is not always the case. And you may not appear all that collectable to a debt collector, and they just may not bother if they see a low probability that you will pay anything.
When debt validation requests are ignored, Midland Funding may still send your account to a collection attorney.
Many years ago, I came to the conclusion that sending debt validation requests to a debt collector like Midland Funding, when you already recognize the debt as yours, and your goal is to resolve the debt by settling with the collector for the lowest amount possible, is counterproductive.
Midland Credit Management Sues in Order to Collect
The woman who inspired this post next received a collection letter from a well known and very active debt collection law firm in her state. She sent a new validation request to the attorney debt collector hired by Midland Funding. The collection attorney responded to the validation request with some basic information about the original account including monthly billing statements from Citibank. Shortly after receiving the debt validation response in the mail from the Midland Funding attorney she was served with a lawsuit.
Debt buyers will target accounts they buy for aggressive collection. Midland Funding is part of the largest debt buying collection brand in the nation. Lawsuits to collect can play a big part in how a debt buyer like Midland Funding will look to turn a profit on their investment in defaulted credit card debts.
The debtor, in this case, shared with me that she knew the sister of the process server that showed up at her door to serve the lawsuit. With that connection, a friendly enough conversation took place. The process server shared the fact that she had a list of Midland Funding lawsuits to serve… about two hundred of them. She lives in a county with a small population. Two hundred or so lawsuits on debts bought by Midland Funding is not unremarkable given the amount of people there are in the area.
Midland Credit Pre-Legal Notification Letter
Update February 2023: Like many creditors, Midland Credit will often send a letter telling you of their intent to escalate collections by taking you to court. These mailed notices will typically include the words “Pre-Legal Notification” in larger and bolder letters.
A Pre-Legal notice from Midland Credit should generally not be construed as an empty threat, or just a collection tactic. They are telling you that your file has been selected for collection attorney placement, which is the precursor to a lawsuit being filed to collect. And you can prevent this.
Always open your mail from Midland Credit. If you see a pre legal notice, you typically have time to negotiate a settlement with them for a much better savings than when it goes to the attorney. The main reason I am posting this 2023 update is that I am seeing Midland send out their first collection notice, that they then follow up by sending a pre-legal notice only a few weeks later. There is often more time between their first collection notice and the legal placement letter. But they are accelerating collections with many accounts. And because they give you a timeline to resolve the debt before they take that step, your next move is important if you intend to try to settle the account
Go here to schedule a call with me to talk about settling with Midland. I can often get these accounts settled for fifty percent of the balance or lower, and the settlements can often be paid over a couple years if you need time.
I can help you settle once the account goes legal too, but the deals after attorneys get your account, or an action has been filed in the courts, are not as good, and the process is much more formal.
What to Do About Midland Funding LLC Collecting Your Debt
If you are contacted by Midland funding LLC, or by Midland Credit Management, or some other Encore debt collection brand (Atlantic Credit and Finance, Asset Acceptance), consider the following:
- Are you able to come up with a plan to resolve the debt for half of what is owed? If you can afford to settle with MCM or Midland Funding you can contact them and work toward getting a deal negotiated, a written agreement on the collectors letter head outlining the terms, and pay it off. While it is recommended to negotiate and settle with MCM or Midland Funding in a single lump sum payment whenever possible, you can also look to set up monthly payments that you are confident you can afford and follow through with to completion. Midland Credit Management and Midland Funding both offer different methods to resolve debts they are collecting while giving you time to pay.
- If you are not familiar with the debt they allege you owe, request the debt be validated. Send your request in writing via certified mail. If you do not hear back from them do not assume they went away. I do not recommend this approach if you want to resolve a debt that you know to be yours.
- Be certain you are aware of how long it has been since you last paid on the account and compare that to the SOL (statute of limitations) for being sued on your type of debt in your state. You may learn that you cannot legitimately be sued for the debt as it has passed the SOL. That does not mean the debt can no longer be collected, or that you should ignore it. The account is likely showing up on your credit report. If you have a goal of buying a home, or refinancing an existing home, you may find you are forced to settle collection accounts in order to qualify for a loan later on. And settling later on may come at a higher price. Avoid applying for credit of any nature just prior to negotiating with Midland Credit and other debt collectors (it makes you look more collectable)
Depending on your current financial situation, looking for affordable settlements and paying off debts with Midland Credit Management and Midland Funding will set you up for less stress and the ability to achieve later financial goals.
The woman who inspired this article was someone I worked with a few years ago. She was laid off from work and struggled to find a new job. She could no longer afford to make payments on her credit card debts and was referred to me by her accountant. I worked with her and her husband to develop a plan to settle her unpaid debts, rather than file bankruptcy (they had filed in the 90’s and did not want to go through that again). She was able to knock down her largest 6 credit card balances by settling with her original creditors using money she was able to borrow from a family member. Her husband’s hours were then cut back at his job, and it became impossible for her to follow through with the plan, leaving a couple of her smaller balance accounts unresolved, the Citibank account Midland Credit Management began collecting was one of them.
She did not reach back out to me for feedback on dealing with the Midland Credit Management collection letter she received. Instead, she went to the internet and found what she said was the consistent advice to send a debt validation letter to MCM. She thought the collection account was behind her when she did not hear back from MCM. When she received the attorney collection notice in the mail for the same debt, she simply repeated her debt validation request again. She did not know how, or what, to respond to the collection attorney with, once they mailed back evidence of a debt she already knew she owed. She only contacted me again after she was sued by Midland Funding.
Settling with Midland Funding LLC When Sued
I suggested she connect with a local consumer attorney about her options to handle the lawsuit. After that consultation, she decided to settle the lawsuit from Midland Funding. We got a good deal, to be sure, but she was settling on a total balance that had increased due to attorney costs. We could have settled directly with Midland Credit Management early on, and for a much better savings, and less stress.
There is, often enough, also going to be a difference between the amount you can negotiate and get approved to settle for, when you are dealing with a debt collection attorney. It is not uncommon to see a 20 to 40 percent premium to settle a Midland Funding debt once sued for collection, compared to negotiating before the account lands in court.
If you are just not in any shape financially to follow through with any strategy to resolve the debt with Midland, you may end up with a judgment against you. Judgments can be settled for less down the road, so keep that in mind. But you may want to consider defending against any collection lawsuit too. There are good resources that can help you, but you will want to assess the costs and time involved in any effort to defend collection lawsuits.
What You Can Do to Resolve Debt with Midland
You may be reading this and in a situation where you cannot possibly think of how you can resolve a debt being collected by MCM or Midland Funding LLC. I understand that. The situation is what it is, and sometimes all you can do is wait for things to improve before tackling old debts. However, you may want to at least learn about the options available to you to tackle debts Midland is collecting. You may be surprised by some of the flexibility that is available. You may even be able to avoid being sued later, by taking action today.
If you have received collection notices from an attorney for Midland Funding, or have been sued by an attorney for collection, you will want to contact the attorney directly. You should also consider speaking with an experienced collection defense attorney of your own.
If you are trying to resolve an existing judgment from Midland Funding, you have options for that as well.
There will be additional pressures on Midland Funding, Midland Credit Management, Encore Capital Group, and many other collectors and debt buyers, as a result of new federal regulatory supervision. The CFPB has already had a huge impact on Midland Funding. I will keep the article updated as things develop.
Midland Funding LLC on Your Credit Reports
I am updating this article as of 1/10/17 to include information about Midland Funding credit reporting policy changes that are way ahead of the curve when it comes to providing you the ability to meet your current and future personal credit goals. Be sure to click through and learn more about how Midland Funding will handle credit reporting when it comes to accounts you have with them.
- Midland Funding will not show on your credit reports if you are able to make payment arrangement, or settle with them for less, in the first 180 days after they purchase your account. This is obviously ideal when you can commit to resolving accounts with Midland Funding early on.
- Midland Funding will remove all credit reporting if you pay or settle a debt with them. This is an obvious benefit to those of us who had financial setbacks that lingered longer, and who could not take advantage of the opportunity to keep Midland off our credit reports from the beginning, when they sent their first collection notice.
- I have seen it take up to 60 days for the Midland Credit account to be deleted from your credit reports.
There are many examples of people in the comments below, and who I have spoken with on the phone, who are taking advantage of Midland’s credit reporting policy.
Midland Funding is leading by example with this credit reporting policy.
Updated 2/20/20 – Three additional debt buyers have since followed the example Midland set for credit reporting.
If you would prefer to get help settling your Midland Credit Management debts, let us know by scheduling a phone call using the box below, or the help tab up top. We can help you and typically for a fraction of what most companies charge.
Michael,
I received a court summons from Midland Funding. I’d only ever received one phone call from them, but I did ask that they cease phone communications with me, and only contact me via USPS. Shortly after that phone call I’d mailed them a dv request, which was quite obviously ignored. The paper that I got from the court says that it is from BankX account xxxxxxxxxxx1234. First I was pretty certain that I’d already paid off the balance on this card, second the account numbers that I have on file do not match those on the court summons. Can I bring what little documentation I have and ask the judge to dismiss the case with prejudice? Also part of my documentation says that I have a balance available of $773 out of my $1700 credit limit available (so my credit limit was $1700) but I’m being sued for $2053.00 + costs. I’m on SSSI so they can’t really garnish my wages.
Thanks,
L
Did you send your debt validation request to Midland using certified mail return receipt, or registered mail?
The amount they are suing for beyond any reference to an original default balance is not all that inflated, and is likely due to late penalties and default interest. Both are common with default revolving consumer accounts like credit cards.
You can challenge Midland on their documentation, and how they arrived at the amount they are suing for. But you should run this all by an attorney of your own. Just showing up with unmatched account numbers, reference to a prior debt validation request, and asking the court to help you arrive at how the balance increased by a few hundred dollars, while intuitively should yield results, often will not.
Courts are full of procedures and protocols. Following those will be the most productive.
In the end, it sounds like there is little they can do to get you to pay, even with a judgment. That said, check out this post, and the many comments, to see what exemptions from collectors may apply to you in your state: https://consumerrecoverynetwork.com/question/social-security-pension-state-exemption-debt-collector-garnishment/
Good morning,
I had a collection with T-Mobile. Midland purchased the debt and it sat on my report for a couple of years. I had a hand full of collections on the reports as well. I am shopping for a home and was advised i needed to repair my credit ASAP. I contacted all of the collection agencies to settle the debts and remove them. They have all been paid or settled as agreed and have been removed except for one, MIDLAND. I have contacted their office multiple times to have it removed and no success. I contacted the San Diego BBB and no success. Finally, I disputed with all of the bureaus and no success. It is reported as a paid collection and Midland requested to have “Consumer disputes” in the comments. Is there anything I can do to have this removed from my reports or just let it hang? I am very frustrated because i paid/settled a debt on their settlement offer and they will not remove it. Any help would be greatly appreciated.
Rick
Not knowing what your other debts were about, or who they were with, it is hard to say otherwise, but getting collection accounts removed from your credit reports in return for payment is not common.
If Midland reporting a paid collection on your credit reports is accurate, it is likely not going anywhere. But now that Midland is showing as settled or paid, it can allow for mortgage financing to go through.
Are your credit scores higher than 620?
I am not sure what to think of midland credit mgmt right now. I have had issues with credit cards off and on for years and about a year ago, i finally hit the wall due to job issues and was unable to pay any of them. as a result, all the credit cards i had are currently in collections. i tried to pay what little i could to them while trying to build my money up, but in mid november i received a pre-legal notification for 1 of these cards (capital one) from MCM. the amount was $7354. there was no way i could settle for even 40-50% of that right now, so I called them and of course they were rude but they did say if i could pay a $254 down payment, then i could make $100 monthly payments. At first i was skeptical and declined. Then i sent an email to the Iowa attorney general office to see if this would be a good idea. They didn’t respond quickly enough, so in the end i decided to go ahead with the down payment and the payment plan. It seemed like things had worked out.
On December 20 i received a letter from the iowa attorney general, it was a copy of a letter they had sent to MCM about my concerns. That same day I made a $100 payment to MCM thru my bank’s bill pay. On christmas day i checked my bank account and it showed that the payment had gone thru on the 22nd. I thought, great. But then on December 26, i checked MCM’S website to make sure my balance was correct, and it said that my balance info was unavailable. I thought that was odd, so i called them. The lady who i could barely understand (big shock) said that my account was “under review”, and that i would receive something in writing within a few days. I haven’t gotten it yet but i am worried as to what it might be.
Now i am really worried, is this the end for me??? i can pay them a $100 a month, and have already proven that. are they mad because i sent a letter to the state attorney general just trying to see if they are legitimate??? if so, then this is just silly. i honestly am so confused, i am not sure what to do. any suggestions???
Debt collectors like Midland Credit are not going to get mad because you sent something to your state AG. They are not looking to make things tougher on you for that. But they will likely have internal policies and procedures for how to handle complaints sent to them from state and federal regulators. And that could be why your file is under review. This can create a hiccup, or it may be nothing at all once their internal stuff runs its course.
What was it that you read or understood that mad you question whether Midland Credit is a legitimate debt collector?
I have a pending lawsuit from Midland Credit for old credit card debt to Citibank. The response is due by December 12th, but I am not sure how to respond. I am paying Citibank still, have proof of that what should I respond to Midland with?
Can you share more details about this account? It is not very common to continue paying your original creditor, only to have that account sold off to a debt buyer like Midland Credit.
Were you paying Citibank less than the required minimum for a period of time? If so, for how long?
Did you stop making payments to Citibank for a period of time? If so, for how long, and when?
Do you still receive regular billing statements from Citibank?
Hi Michael
I got credit card debt of 130000 on several cards, last time I made payments on these cards were in October and nov of 2008 since then I haven’t use my credit at all, my credit report is showing midland has 2 collection and lvnv has 2 collection. There is no judgement on my credit report, recently van Ru starts calling me they leave message but won’t disclose what account they are calling about. I live in Alabama statue of limitation is 6 years in Alabama most of the negative accounts will do away by May and July of 2015 on my credit reports. Can any of these company sue me successfully since statue of limitations had passed.
Thank you
Hi M. Nice to hear from you again. We had exchanged comments on this, and other pages of the site nearly 2 years ago now. It is good to see you are on the back side of much of this now, and ready to rebuild after the accounts drop from your credit reports.
If any collector tries to sue you for debts passed the SOL in your state to do so, post an update about that, and lets go from there. You can beat back those collection efforts fairly simply.
These days, collection agencies like Midland Funding and Van Ru, are unlikely to pursue you in court for debts they know are passed the SOL.
Hello Michael
I received a letter from Scott Parnell attorney notice of intent to sue. so I called them and is disputed that account I told them I need the statement and credit card agreemt last that account was paid in nov of 2008. I asked them what’s the statue of limitations to sue for this kinda debt and she told me it’s between 15 to 20 years. I told her in state of Alabama the statue of limitations on credit card debt is 3 years and on written contract is 6 years so both of them had passed. She told me to consult an attorney about that. But she is sending me the statements for that account. It’s a belk department store charge card. I thought they are not supposed to lie about that statue of limitations which in this case she did.
Do I need to be worried about this? Can they successfully sue me? Are dept stores card fall under different statue of limitation?.
Thank you
Those store credit cards are subject to the same SOL to legitimately sue. Not all debt collectors play it straight. But it is too bad one working for a law firm will twist the truth or blatantly respond with false information.
You would only need to be worried if they fallow through with the suit. Keep good notes of what happened when you talked with the woman from the Parnell collection attorney office, and of any additional communications.
Husband just got served papers yesterday on credit one debt that was evidently bought out by Midland Funding. We have been traveling with my job and not at our permanent residence for the past couple of years. He has not been receiving notices or calls as we were not available. So the question is whether we can call Midland and try to settle now that he has been served. He draws SS and is over 70. Can not pay balance of almost $2100. He has around $450.00 cash in hand. What do you advise? Will he still have to go to court?
You can settle with Midland now and avoid court. I do not see too many settlements with Midland Funding that are less than 25 percent, especially once a collection suit is filed. 50% or higher is more realistic in this situation.
He will need to be able to communicate a financial hardship well, and the limited social security income. Who is the attorney collection firm working for Midland? What state are you in?
My husband has an old Citi Bank credit card that was sold off back in 2008 (I think his last use was sometime earlier that year) and because we are looking at buying a home we are trying to figure out the best way to handle it. It’s way past the statute of limitations but I’m not 100% sure when it will disappear off his credit report. Even then, I’ve been told it can come up later with them putting a lien on our future house if we don’t settle it somehow now. We’re in Utah. Any advice? I’ve never had to deal with a debt collector before so I’m not sure where to start. They’ve raised the original amount significantly, of course, and if it were up to me we’d settle the initial $2,000 debt (now nearly $8,000 after all the added fees) for significantly less, since I’m certain they paid far less than $1,000 for it.
First things first, what are you seeing on your credit reports? Do you see an entry from Citibank at all? Is it only a debt collector reporting? Since this page is dedicated to Midland Funding and MCM, is it Midland that has the account?
What is your current time frame for your goal of buying a home?
Sorry, I should have been more specific. Yes, the debt is on his credit report through Midland Funding. It no longer shows Citi Bank. It doesn’t say when the original debt occurred so I’m not sure when his credit report will be free and clear. The letters they have occasionally sent do say that they can’t sue us for this debt though.
We’re hoping to purchase a house in late December or early January.
If Citi bank is no longer on there, and as late in the credit reporting cycle you already are, it may be because it has already aged off. Some options to consider:
1. Send written disputes to the credit bureaus requesting the Midland account be taken off as it is too old to remain.
2. Settle with Midland for an greatly reduced amount. I have seen really good settlements get done this far down the road, and when there is no threat of being sued legitimately. Just do not let on that you have a credit and finance goal in the near future. They will hold out for more.
You have time to try the first approach. If you do that, send your dispute certified mail return receipt. You can send a copy of the dispute to Midland as well. Just realize you are signalling to Midland that you care about your credit, and if you do circle back to settle with them, it may/may not affect the amount they agree to accept as payment in full.
Hi Michael,
Thank you for your prompt response! I actually thought that it might be the case that the debt should be off already since Citi Bank wasn’t on the report anymore, but it’s honestly the first credit issue I’ve ever encountered so I wasn’t 100% certain if the original debt should be on there or not. I’ve passed your response on to my husband since the debt is in his name, and he’ll be figuring out which option will work best for us.
Thank you again for helping me understand the situation clearly!
Went to court but no court? clerk of court said that the judge would grant a judgement at 1:30 PM unless I contested it. I did just that. It buys me time before a judgement though I realize they can still throw a lein on my house. Im hopeful we can come to a fair resolution as originally they said I could pay $500- Will keep in touch here.
Hi Michael. I just happened to be looking through past tax info. tonight and never realized until now that back in 2002 I had a debt of 1300. with Providian credit card company which was discharged in a Ch. 7 bankruptcy. In 2003, this company transferred over to Aspire. I was sued my Midland Funding in 2007 for an Aspire account which I never had for 1389. I have a court order stating that this was paid in full with the exception of 411.00. A few months later, I received a garnishment letter for my taxes for 580.00 and then again in the year of 2009 for 411.00. I am still looking for the rest of the docs and it is a bit sketchy due to my divorce at the time but, are the statute of limitations in my favor here to sue? These people are incredulous, and how do they get away with this??
You need to run this whole scenario by an experience consumer law attorney. After so many years, it can be difficult to unwind stuff like this, but the attorney can help you understand what is possible.
As far as the SOL for FDCPA violations, it is typically going to run 1 year, so not in your favor.
Hi I found your site and am hoping to avoid a Lein on my house from Midland Funding.
My lawsuit letter states I owe $4,925.44 plus interest and attorneys fees and other relief the court deems proper. I called a HUD Certified consumer credit counseling company in my state of Wisconsin and they told me based on the facts i could give that they cannot garnish my wages because Im on Food Stamps but if my job situation changes they can come after me at a later date or put a Lein on my house. I have very -very little money to put towards a settlement ($500-$600 max) and cannot get into a payment plan situation. My court date is in 15 days and wondered if you could briefly guide me on how best to approach this. I did see about the Letter and did make payments for 12 months on a re-payment plan to citi bank card but then I was still in financial hell at the end of the 12 months and made only 1 or 2 payments and the interest skyrocketed with late payment fees etc and I could no longer keep up.
I plan on going to court – not being a no show but can’t really afford a lawyer? can you guide me at all?
With your already qualifying for SNAP, it is likelier you would qualify for legal aid assistance. While you may not be able to pay for an attorneys help outright, you may not need to. So I would start with locating and consulting with a low income legal aid office nearest you.
Next, I would call and talk to Midland Funding. Your situation may qualify for a settlement as low as you are suggesting you can do. Be up front about the financial setbacks, and that you are receiving public assistance, etc. They do some consumer friendly stuff on files that qualify that is unlike anything other debt collectors do.
Let me know what happens with those efforts, and lets go from there.
Spoke with Dan last night and made him an offer. Went over a fairly complete current financial history and itemization of my expenses and income. I did pitch an offer of $ 600-700 which was rejected. It sounds like they will leave this an open end judgement . I did tell him that if a tree hadn’t fallen on my house last month I could go much higher but have to pay out a deductible. Told him that I did not want payments because if I default on those I will be back in the same situation. He was nice and quite professional. I go to court on Tuesday. Will post anything new.
Hi, Mr. Bovee.
I have been fighting a MF lawsuit over two years. I do agree with your advice in trying to help people settle, for two reasons. One is that no matter what MF paid for the account, it was assigned. Two, most people cannot wade through, or have the time to prepare the mountains of paperwork. In my case now 12″ high. I lost my first trial a year ago in JC. I appealed to SC and won, however reversed and remanded back to JC. Most peope don’t know JC judges or pro tems, do not have to be attys, or if they are they may not specialize in civil law. The judge in my 1st trial took three months to decide who should win. There is a saying that the person who represents themself has a fool for a client.
My second trial was last week and the judge allowed a witness from MCM to testify telephonically
After a 3 1/2 hour trial he ruled for the Plaintiff Midland Funding. The appeal court found that an affiant from MCM could not testify to Midland Fundings records. The telephonic witness was that same affiant.
So, I am debating appealing again or filing a motion to vacate based on inconsistancies with the superior court decision. However, should I prevail in the appeal again guess where it will go back to.
The judge assigned to my case had a profile and a picture of a dead horse in the desert with a caption that read Justice in Arizona looks like this!!!! The Plaintiff motioned for a new judge and it was granted. Anyone reading this may want to settle OR get a lawyer!!
Thanks for sharing your experience Pam.
What was the amount Midland Funding sued you for?
Before atty fees and interest aound 8400.00. The judge noted at trial 2 they had the wrong amt according to statements and reduced it by 500.00. I argued extensively about the trustworthiness of the records. to no avail. As I today I have received the final judgment from the Plaintiff, as they had no paperwork for the judge to sign.
Don – I want to be sure I understand what you said in your comment. My first read is one of a guy pissed that he paid Midland Credit any amount of money to resolve a debt. I read it again, and am wondering if you are calling me “amazingly stupid”.
I refer people to experienced debt collection defense attorneys every day, and for the very same reason you speak to – Debt collection lawsuits are beatable. There are things to weigh in that decision to defend collection suits, but it can make a great deal of sense to defend, even for the simple fact of delaying the outcome, let alone getting the suit dismissed, or a more affordable settlement. I speak to that on this page many times.
I am also not sure if you are paraphrasing all of these thousands of accounts you have read about where consumer rights have been violated, or if you are saying you experienced all of those violations personally. But if you experienced just one of them, I would highly recommend talking to an attorney in your state who regularly pursues FDCPA violations. I can help you locate one if you like. Most take this type of case on at no cost to you, expecting their fees to be covered by the other side. Post the name of a nearby larger city, and I can email you contact details for any I know of.
You seem to have taken what CRN is primarily about out of context. I started CRN to help people resolve debt. Though CRN stopped taking on paying consumer clients directly over a year ago, I still maintain the educational attributes and mission I started the site with. I do indeed help people see there way free of collections and other financial jams on a daily basis. Often enough, settling debt is the quickest way for folks to reach their goals. And in my experience, most people want to resolve debts they at one time could not afford. I suppose that could be what you are referring to as lining the pockets of debt buyers. But Don, a debt buyer purchasing your debt does not make it any less valid. It can create opportunities for people to navigate the collection process creatively, and I talk about that throughout the site. But my suggesting people settle debts they legitimately owe, and when that solution fits their goals and abilities, well… I see little reason to cast aspersions at me for that.
I delete some posts that take shots at me. Yours does, but I am responding to it and am going to leave it up. If I ever do get around to creating the page where folks can flame and fume unedited, I may move your comment over there.
I would like to thank you for reading and participating on the site Don, but perhaps it is time for you to take that participation somewhere else.
Hello Mr. Bovee,
I reside in CA. I have a 3 year old debt with Sears Card (Citibank). The amount owed back in 2011 when I made my last payment was $1674. Also back in 2011, presumably before the debt was sold to MIDLANDS, I received an offer from Citibank to settle the account for $800. I never accepted the offer.
I recently received a “Pre-legal” notice from MIDLANDS requesting payment in the amount of $2066 (Which includes the interest accrued on top of the original $1674). I contacted MIDLANDS directly and advised them that because of financial hardships, I was unable to pay that amount. I then offered to make a lump sum payment in the amount of $800, which they refused. I followed that offer up with a lump sum payment in the amount of $1033 (50% of the new balance), which they refused again. It didn’t seem like they were really willing to negotiate with me on this.
Any advice or suggestions on how I can go about getting this debt settled for less than what I owe? I really want to get this settled for 50% of the original balance and I also want to avoid being hauled into court for this.
I really appreciate any help you can give.
Thanks
Are you talking with a collection firm working for Midland Funding (the one who sent you a pre legal notice), or with Midland Funding directly?
What Midland will settle a debt for will often depend on how collectable they think you are. Midland, and other debt buyers and collectors, use sophisticate modeling to assign a score to you (nothing to do with your credit score). The more collectable you are on that scale, the higher the deal they want (less savings to you).
Are you paying other bills on time? If so, what bills that are being kept current show on your credit reports?
Are there other collection accounts on your credit reports? If so, how many? If there are resolved collections (paid or settled), how many of those, and when were they updated to show they were taken care of?
Hi. I have a question. I used to have a month to month contract with T-Mobile. My daughter wanted her own phone with a different company so I called and requested her to be dropped. It took over 2 months for them to remove my daughter from my account and talking to several supervisors to delete the overcharges. Everybody that I talked to admitted that all my calls/requests were in their notes. After several months and continuing problems with them, I notified them I wished to terminate my service. I talked to several people, paid up all the charges, etc., before they transferred me to their “Retain” dept. I advised that guy I wanted to terminate service, we were paid up, and etc. During the 20+ minute conversation with him, I advised him repeatedly to terminate service. He said he can’t until he completes his checklist (he was trying to make me take a different plan). I refused and ended up hanging up on him. That was over two and a half years ago. I recently checked my credit report and I have a collection from MIDLAND FUNDING for $320. I can only assume that T-Mobile didn’t terminate my service for a number of months and finally turned it over to them when I didn’t pay. I was never contacted by T-Mobile nor from Midland Funding. I know my conversation with T-Mobile has to be in my old acct. notes requesting to terminate service (hopefully). I feel that T-Mobile did me wrong. I paid my balance and notified them to terminate service like a good citizen would. Now I got this to deal with. Any suggestions?
What state are you in?
Hi. Thank you Mr. Bovee for any assistance. I now live in Maryland. This occurred in Washington State. Thanks again.
If it were me in your shoes I would contact Midland directly, and in writing, disputing the debt as paid. Lay out all of the details, now is not a time for vagueness. If you remember approximate dates for when you talked with TMobile to cancel, reference them; If you have exact payment amounts from bank records, and the dates of those payments, point them out.
Copy TMobile with your letter. Let Midland Credit know you copied TMobile, and that Tmobile will be able to verify the facts you state in your dispute.
I would Send letters to both Midland and TMobile certified mail return receipt requested. Save a copy of each letter and the green cards you get back in your records.
Also, I would reference the credit reporting should be removed, as the debt is not legitimate. You are contacting them both as a courtesy, but depending on the outcome of your dispute, will then dispute with the credit reporting agencies directly, and finally with the CFPB.
Keep me posted on your progress.
Thank You!!! I’ll keep you in the loop. 🙂
Hi Mr. Bovee.
Here’s the latest… I took your advice and contacted Midland F… last night and explained to the Customer Service Rep (CSR) my situation. He was very nice throughout the conversation. He said he needed my acct # (I didn’t have/know it since they never have contacted me and it’s been years since I had T-Mobile). He then asked for my SSN which I didn’t feel comfortable with that since my information has been stolen twice over the last 10-15 years. I’m very careful. We ended up parting peacefully. I called again this morning and got a lady. When I explained my situation again, and that I didn’t have an acct # and was reluctant to give her my SSN, she started screaming at me over the phone, “cause she can’t do her job without it”. I told her that she didn’t have to yell at me but she continued too so which I disconnected the call. (yea, I hung up on her). I then called T-Mobile and explained my situation to them. I talked to 2 CSR’s, with no help. I requested to talk to their Retain (they call it their Loyalty) department. The first one was of no help. The second Loyalty Dept. person I got was helpful. She told me what was in the account and all the notes. Evidently I requested my account to be terminated SEVERAL times in 2010. I also was informed that the reason it wasn’t closed was that on their checklist, they have to inform the customer that the phone number will be reissued. They also have to inform the customer that any additional charges will incur a bill. There was a few other things but it didn’t mean much to me as a player so I didn’t care to retain the information. So…my account wasn’t terminated cause they feel they didn’t inform me that my number will be reissued??? What is going on??? Also, they continued to charge me for 5 more months before suspending the account. I also informed them that no one ever attempted to contact me. Anyway, after discussing this with the second Loyalty dept. rep. for over half an hour, she said that she couldn’t do anything for me since it was already bought by Midland. I requested to talk to her supervisor which she transferred me to. I again had to explain my situation to him. We discussed my situation, and the notes on my acct. for over another half an hour, and at the conclusion, he agreed to submit a dispute to Midland for me. He said that Midland should be calling me within a week. He didn’t give me warm fuzzies about what Midland will do since they own my account and he didn’t know what they will do; which, I find, kind of upsetting. I felt I did what any reasonable customer would do, I informed them multiple times to close the account, according to their records.
One other thing, my account with T-Mobile was suspended in 2010. One Credit Report company shows that the beginning of this suspension occurred in 2010. On another one, it showed Midland reporting it as suspended since 2012, while a third showed Midland reporting it suspended since about 6 months ago. Now I’m not an expert but why, and or how, does Midland’s date keep changing? Are they moving the start date so it never expires? I don’t understand.
Again, thanks for any help. Hopefully Midland will see the dispute from T-Mobile and either lower the amount or terminate the collection process all together. From other comments on the Internet, various sites, Midland seems to be bullies when it comes to collecting debts (just from what I’ve found on the Internet) and aren’t sympathetic about the facts. And from my interaction with a CSR today, I tend to believe the comments.
Thanks again.
Oh, one thing, I reread my comments, and in the sentence where it says “it didn’t mean much to me as a player”… Let me clarify, I’m not playing T-Mobile nor Midland. What I was referring to was that the extra information didn’t appear to me to be relevant, so I didn’t care to retain the information. I’m not a player, just think that T-Mobile did me wrong, as well as not notifying me or corresponding with me. I’ve never had this much of a hassle just to terminate an account before; other then with AOL, and they have a bad reputation, or did have a few years ago.
No worries. We sometimes cannot imagine what the hell we would need to retain something for, like a receipt, or a detail of events. If we tried to be prepared for everything, we would be prepared for nothing.
So, ummm… you have never tried to quit a cable company?
Hi.
Thanks again for all your counsel. As far as canceling from a cable company, no. I never subscribed. As far as AOL, I was sent to some company training for several months in the south. When I got my hotel room, AOL was advertizing that I could sign up for Internet services and try it free for a month, so I did. I did confirm with them that I just wanted to try it. Just before a month was up, I called to cancel my subscription and got a royal run around. I canceled cause I decided to use the local public library’s computers instead and save some money. After talking to them for about a twenty minutes or so, and getting no where, I informed them that I was going to cancel the Credit Card; to which the CSR got mad and threaten to sue/go after me. It was around this time that AOL made the news that if anyone would try to cancel, they would put the customer on hold for a long time in the hopes they would disconnect. One person, on the news, said they were on hold for 25 minutes or so, and then got transferred to another dept where they were again placed on hold for a long period of time. In addition, a previous employee of AOL stated that, that was AOLs standard practice in the hopes that the customer would just hang up and continue service. (All if my memory is correct, been years ago). Because of my past experiences and information I find on the Internet, I usually buy and use disposable, preloaded Credit Cards when I can, and pay for months of service in advance. It costs me a bit, for fees and all, but it gives me peace in case I have any problems with companies. In addition to having my information stolen twice years ago.
Thanks again for your assistance.
I am not sure about Midlands credit reporting being different from one bureau to the next either. I would take a minute to focus on the issue, but only if all this does not shake out like it appears it should with TMobile recalling the account somehow, or Midland Funding dropping their efforts to collect and removing the credit report entries entirely.
All debt collectors could use some sensitivity training in my opinion. If you want to escalate your concerns about the collector at Midland that you spoke with, there is probably a way to do that, but if I were thinking of doing that, I would wait until after resolution.
You should take notes of all that has transpired to date, with names of people you spoke with, the numbers you called, or they called you from, and the precise time of day too. You may want to use all of that later on, but let’s hope you do not have to. If you do not hear from anyone in the time you were set up to expect, post an update and lets go from there.
Hello Mr. Bovee.
Here’s the latest update. Been a while so I may get things wrong (I don’t have a computer at home so I have to use a public one) but I’ll try and get things accurate. I never received a call from Midland Funding so I called them. After they verified who I was, then came the “Sue” talk, but if you don’t want to get sued, you can pay “this amount”, which was only a little less then the total amount. After refusing to pay I explained my situation with the customer rep. and informed him that T-Mobile had contacted his company with a dispute and it should be in the system. The rep. informed me that there was no record in the system that T-Mobile had contacted them. The Rep did say, however, that to dispute this charge I would need something in writing from T-Mobile. Since I had no other choice I ended the call and phoned T-Mobile. After talking to the first, front line Customer Rep at T-Mobile I requested to talk to their Retain Dept. They again said that there was nothing that they could do so I requested to talk to the Retain Dept. Supervisor. I got lucky (or so I thought) and talked to the one I talked to a short time ago and explained that according to Midland Funding, they never received any correspondence from T-Mobile. I also informed him that in order for me to dispute the fraudulent charge, I would need a copy of the notes on my account. The Retain Dept. Supervisor then said that the only way I could get a copy of the notes was to get an attorney, have a judge sign off on the subpoena, and submit it to T-Mobile’s Legal dept. I asked him for help, I explained that I’m trying to work with Midland Funding and T-Mobile but I need some help since I’m going back and forth between both companies. He further explained that he did receive a reply from Midland Funding on the 12th of Sep. (he submitted the original dispute, with the notes, on the 10th). He also said that he doesn’t know of any way to send me a copy of the notes. I informed him that at the very least he could do a “copy and paste” or “screen capture” since most systems use the operating system to do that, aside from the specialized software that they use. He agreed that I was correct but he still couldn’t send me a copy. He then said that he will try something else but wouldn’t go into detail. He also asked for my contact phone number, which I gave him. I also stated that he should have it on his display. He reluctantly stated that it was, he just wanted to verify. He stated that he will give me a call within 24 hours. (As of this date/time I have not received a call). I then called Midland Funding again. I again got the same line from the Front Line Customer rep who said I could settle the account if I pay said amount. They also rechecked the account records and verified that no correspondence was ever received from T-Mobile. At this point I requested to speak with a supervisor. They transferred me to their customer dispute dept. I explained to that person my situation, not being able to get copies of the notes from T-Mobile, and that a T-Mobile rep submitted a dispute on the 10th of Sep. and that they, T-Mobile did, in fact, receive a response from Midland funding on the 12th. During the discussion, they did give me some interesting details. First, the front line customer reps do not have access to any additional details on the account, other then the information needed to verify the caller identity, the original bill information to include the pay off amount, and also the settlement amount offered. That’s it. Furthermore, the dispute rep informed me that it was interesting to them that T-Mobile contacted Midland Funding and that it’s wasn’t in the account records since they know for a fact that Midland Funding talks to T-Mobile on a daily basis. This, I thought was especially interesting. They also suggested that the only way to clear this up was to submit a form from the Federal Trade commission on identity theft, its a six page report, and it has to be submitted and notarized. I responded that is wasn’t identity theft but a wrongful charge. They said on the page six of the form was a section for fraudulent charges. They also said that it is very, very rare that T-Mobile will buy back an account, they said they have seen it done but it’s a rare. I thanked them and disconnected. I then called T-Mobile back, at Midland Funding’s suggestion, to find out what information was in the response that T-Mobile received from Midland Funding on the 12th. When I got the initial Customer Rep at T-Mobile, they explained that the only thing they can do is refer me back to Midland Funding since they purchased the account. I then explained my situation to them and the trouble I was having and requested to talk to their Retain Dept. After about 5 minutes on hold, the initial Rep informed me that he was unable to transfer me to the Retain dept. cause they were refusing my calls. I was also given the impression that I couldn’t even talk their supervisor. I asked the rep for any assistance they could help. They informed me that they were directed to only tell me to talk to Midland Funding about the account since they own the account. At my begging, the customer rep. did give me some additional information on the account. Evidently my recent calls were NOT in their documents/notes. They were either there and deleted or were never annotated to begin with. Furthermore, there was NO documentation in the system that I contacted the supervisor in the Retain dept. and no follow-up notes that said he was again going to contact Midland Funding. At this point I don’t know what’s in the records or not. In addition, according to the Customer Rep. there was never an attempt from T-Mobile to contact me regarding the bill, no correspondence was ever sent out, and no rejected or undeliverable mail was ever returned; nothing after my initial calls to terminate service back in 2010.
To recap, T-Mobile is now refusing to communicate with me. After identifying me, the only thing I get is to talk to Midland Funding. That’s it. And there is a lack of documentation or notes in their system that I even recently contacted them. They also lied to me about re-contacting Midland Funding on my behalf, according to their notes, or lack thereof. The only thing in the system, that I know of, is that I called them repeatedly to terminate service back in 2010, and that there was no attempt for them to communicate with me to pay the bill, after my calls to terminate service. As to Midland Funding, I either have to get a Lawyer (at what cost), have a judge sign off on a subpoena, and submit that to T-Mobiles Legal dept. with no guarantee that I’ll even get a copy of the notes, whatever good that will do since my recent communications with them is not in the system and at this point I am not even certain what’s even in the notes.
I guess my only options are to pay the bill or settlement amount; or to find out what the statutes of limitations are on collections in my state. Or, the fact that I recently moved and haven’t forwarded my mail yet with the Post Office, but that isn’t much of an option since I have bills to pay/forward. The Customer Dispute Dept. Rep at Midland Funding did say that if I didn’t do anything, this attempt to collect a charge will stay on my Credit Report for at least seven years; or, from my impression, that they may come after me to collect on this account.
I apologize for it being lengthy, but…… I guess T-Mobile fraudulently, screwed me over due to their bad business practices; and Midland Funding wants to collect. WTF!
Have a good day.
🙁
JD, this sucks! I am so happy to not be you in this process. I am not being mean here. I am expressing my amazement at your patience.
I would file the FTC forms Midland told you to. I would spell out the circumstance in the fraud charges. Get that to Midland so that part of there system kicks in.
Are you up to connecting with me off line? I would like to develop a story about your experience with T Mobile, which is timed well on the heals of a related story about the perils of trying to cancel cable service. If you are up to it, send an email to the address you get these comment notifications from.
It was deemed fact through their unanswered admissions that the account was never mine. That was one of my statements against them.
I am not certain you are correct in that, or at least I have not seen similar circumstances lead directly to credit report removal. Have you talked with the consumer law attorney you are now working with about this concern, and if so, what was his feedback?
I reserved the right to Countersue for any and all violations as they became applicable and available in my response and now I have a Professional fighting for me and Midland Funding LLC, Encore Capital Group or Midland Credit Management will pay all my legal fees.
I defeated Midland Funding LLC with Prejudice in court as anyone can and should do. How do I get them to stop reporting this debt on my Credit Report? I have already proven in a court of Law it is not my debt.
Nicely done Brad, though I would say that not everyone can do that, not by a long shot.
Unfortunately, victory in a court action does not always translate to credit reporting success. I may have some action steps to suggest from here. Can you post a brief outline of how this shook out in court?
1. Answer the Complaint and deny everything.
2. Respond to their Interogatories and Admissions with denial.
3. State to your recollection you’ve never had an account with them and demand strict proof. Ask for a signed contract with a Motion to Produce. They sent me a bunch of generic documents and a Robosigned affidavit which I made a motion to strike as hearsay but was not admitted or received into evidence yet. (They don’t ever have any evidence)
4. Send your own request for interrogatories and admissions they failed to answer.
5. I then sent a Motion to Dismiss with Prejudice because all admissions were deemed admitted and true and my Motion to dismiss was sustained. I’m now pursuing my Counterclaims via Tregg Lunn Law in Lincoln, NE.
I cited case law of similar cases and stated that attorney Generals in 5 states had sued Midland for FDCPA and FCRA violations.
So the case was dismissed, rather than a judge ruling the account was never yours. Perhaps your counterclaim will result in Midland’s credit report removal.
What good is going to court if the information used to win your case is not applied in your favor?
From what I can tell, it was… you got the dismissal. My guess is that much of your motion practice and discovery did not focus on the credit reporting aspects, and that the courts decision did not contemplate that in the least.
I was very thorough with my paperwork and am waiting to talk to Midland as they are now violating the FCRA and my Attorney is organizing a Class Action Lawsuit.
Asset acceptance bought my debt from wells fargo charged off at $904 in 2012. they are currently charging interest and I want to know if this is legal? what can I do about it? I tried to contact wells fargo to see if it was part of my original agreement but they don’t want to answer me with out me giving my ssn or account number. do you think asset acceptance being apart of mcm will take legal action for debt verification? what would disputing the amount with the credit bureau do? Also do you think trying to settle the rest of my debt for 33% (lump sum) of the original price is reasonable? will trying to settle cause the dc to try and seek more money and or legal action would you advise trying to settle for up to what amount? I read online a tip where they said to explain to the dc that you have several debts and you would like to settle for x amount of money and if not then I would use the money towards another debt
J – Why not give Wells your social security number and credit card account number? They already have the information.
Your agreement with Wells Fargo is likely similar to most credit card contracts that allows for default interest to continue to accrue. If settling the debt is your goal, do not get hung up on the interest during the negotiations. Just target the amount you can afford. I generally target 40% settlements in the situation you briefly describe, but that number could go up or down depending on financial hardships, or how collectable you look to the debt collector.
I can better answer your remaining questions if I knew what your goal for this account is? Are you wanting to settle? Do you have other debts that show on your credit report as unpaid?
the reason i didn’t want to give wells fargo my ssn is because i didn’t want them to come after me aggressively seeing as they have ties to mcm and encore. last thing i need is to get served.
That would not have caused any additional collections aggression in my experience.
I have 3 other accounts in collection t mobile 483(mcm), bill me later 1551(arn), and pc richards 779(pro.rec.), i would like to settle all including asset acceptance . i have direct loans in good standing that all i can afford to pay and it my only open positive account. all my other positive accounts were closed because i refused to use them. Im currently going back to school and will be placing my direct loans into in school deferment status. how can i settle all accounts for the lowest possible.
Use the tips outlined in this article to negotiate settlements with the debt collectors: https://consumerrecoverynetwork.com/question/settling-charged-off-credit-card-debts-with-collection-company/.
You can use the search box up top to get details about any of the debt collectors you are dealing with. The comments section will often have action steps and additional tips, or things to consider. Post any questions and concerns in the comments on each page. Generally speaking, I would target settlements at between 40% and 50% for all of the debt collectors you are dealing with. Now knowing that you will not be working, and in school full time, I would target even a bit lower.
If you can access the money to settle all of these at around the same time, I recommend it. Collectors like MCM and the rest will see your settlements get updated to your credit reports after a short time. This may/may not cause you to appear more collectable to them (where they hold out for more money), but if you can prevent that from happening by negotiating them all at roughly the same time (where your deals are done, and payments set to transact around the same time).
ive been following you and you state to always call to settle, are there tips out there for how to speak on the phone with the debt collectors? and i just want to thank you so much for helping us all!
do you perform a service where i can pay you and you can try to settle on my behalf? if so how much?
Those tips are found in the comments of the post I linked to above. I suppose I should do a video on the topic, maybe even with some role playing. Thanks for the suggestion!
I am currently not offering paid debt settlement negotiations like CRN has been doing for the last 10 years, but some of the guys in the Network do. Call 800-939-8357 for a consult. All of those specialists charge 15% of savings for direct negotiations. They do not take all files. They offer one on one coaching and training to settle your debts yourself too.
what do you mean they do not take all files?
There are plenty of people who want to do settlement, but can be seen to be far more suitable to other debt relief alternatives. I have turned away customers who settlement is not right for, or who have some unrealistic expectations.
Yes whatever you have, we appreciate it.
Thanks so much.
We are in the Owings Mills area of Maryland. She isn’t sued yet, but I get a feeling it will happen based upon what I’ve read on this board. Any lawyer recommendations is greatly appreciated.
I sent an email with contact details to an attorney nearby with the experience you would want. There was another in the area, but he listed his organization as being with the state of Maryland. I can send that along too if you like. Maryland does care a good deal about debt collection issues with residents of their state.