topic Verizon MCM in Rebuilding Your Credit

Verizon MCM

Harrison0550 — Mon, 23 Apr 2012 20:40:03 GMT

I need a little advice on how to best address this CO on my reports.

Now I haven't messed with it much because both equifax and transunion had it marked as "paying as agreed" however I have never payed anything on this account and have tried contacting Verizon several times offering to PFD but have been turned down or ignored every time. As of this week MCM has the debt and sent me this today....

Now granted the letter makes me excited to be one of there "new costumers" I'm unsure of how to address this for the best impact on my credit report. My first thought was to just call and pay it today but I'm thinking there may be better ways to handle it. The debt is mine and it should validate easily so should I even DV? The above says they purchased the account from Verizon so are they going to start reporting as well as verizon. What do you guys think should be my next step?

Thank you!

Re: Verizon MCM

RobertEG — Mon, 23 Apr 2012 21:01:30 GMT

First, looking at the OC account, I dont see their reporting of a charge-off. Highest delinquency appears to be 120 late.

Statement of collection referral by an OC is not the same as a collection reported by a debt collector... just a statement that it is under internal or external collection referral.

Evidently a payment plan was negotiated with them, and not fulfilled?

Enter the debt collector, who states they are now the owner of the debt. If so, the OC account should now be reporting a $0 debt balance owed to them.

The debt collector has apparently not reported. However, they appear to be telling you that they are going to report, even if you take their settlement offer.

What they have offered is to report "paid in full." That is a bit unclear as to what they are offering.

If you pay, the debt collector can report only one status. Paid. Their is no such thing as a current status code of "paid in full" or "paid for less."

When you pay for less, they have the option of additionally reporting that fact by way of a Special Comment stating "paid for less than the full amount."

If by offering to report "paid in full," they mean they wont report "paid/settled for less," that is of some benefit, as the collection will show the same as if it were paid in full.

If you go for the offer, I would get their statement that they wont report "paid/settled for less." Just a loose end to tie up.

If you send them a timely DV, it will bar them from any further negotiations with you until such time as they provide debt verification, so a DV might not be wise if the debt is valid and expectation is that they can provide verification.

Re: Verizon MCM

Harrison0550 — Mon, 23 Apr 2012 22:52:49 GMT

I never had any agreement to pay the original creditor anything at all. Now should I reply to this letter asking about whether they will be adding a new credit collection on my report under MCM or if they will be updating the current collection above on my report from Verizon. I'm thinking they will be adding a completely different baddie and I'm still going to have to fight Verizon for the one that is currently already showing. Basically am I about to have two collections showing for one account?

Re: Verizon MCM

pizzadude — Tue, 24 Apr 2012 00:43:06 GMT

Harrison0550 wrote:
I never had any agreement to pay the original creditor anything at all. Now should I reply to this letter asking about whether they will be adding a new credit collection on my report under MCM or if they will be updating the current collection above on my report from Verizon. I'm thinking they will be adding a completely different baddie and I'm still going to have to fight Verizon for the one that is currently already showing. Basically am I about to have two collections showing for one account?

It is very possible that the CA will add a collection. Midland cannot alter or update the account that is reported by Verizon. IMO it is always best to deal with the original creditor whenever possible.

Re: Verizon MCM

Harrison0550 — Tue, 24 Apr 2012 03:11:45 GMT

According to the letter they sent me today Verizon no longer owns the debt, am I wrong in assuming Verizon is just going to tell me to deal with MCM? Should I just pay MCM and call it a wash? I'm not clear as to whether paying it will help my credit file or not. It's still going to show as a collection either way correct? So what's the point if I'm going to have MCM and Verizon both showing as collections.

Re: Verizon MCM

RobertEG — Tue, 24 Apr 2012 03:19:43 GMT

Verizon is the OC.

Any party who is due a debt is "collecting" on it.

However, it does not become a collection in the sense of credit reporting until a debt collector reports their collection activities.

Internal collection activites are not a collection account.

A "collection" is not an account by a creditor with a consumer, it is a reporting account by a debt collector to a CRA.

Verizon does not a "collection" in the sense of credit reporting and scoring posted to the credit file or appearing in the credit report.

Re: Verizon MCM

Harrison0550 — Tue, 24 Apr 2012 03:27:41 GMT

Ok I'm with you so far. So do you think I should try and contact Verizon first and see if they will take the full payment and remove MCM from the loop. Or should I pay MCM directly? From my experiences in the past I've never been able to pay the original creditor once they turned it over to a collection agency. I've always been told they will not take my payment.

Re: Verizon MCM

RobertEG — Tue, 24 Apr 2012 03:36:09 GMT

If the debt collector's statement that they purchased the debt is correct, the OC cannot accept any payment, period.

If that is the case, you would have no choice other than to deal with the debt collector.

Re: Verizon MCM

pizzadude — Tue, 24 Apr 2012 03:54:57 GMT

RobertEG wrote:
If the debt collector's statement that they purchased the debt is correct, the OC cannot accept any payment, period.
If that is the case, you would have no choice other than to deal with the debt collector.

+1, if they won't take your payment then you'll have to deal with the CA. If that is the case then try to get a written agreement from the CA such that in exchange for payment they won't report a collection.

Sometimes you can still submit a payment on~line or via the automated payment system, I would give that a try as well. Or you could mail in a check and they might accept it anyway.

Re: Verizon MCM

Harrison0550 — Tue, 24 Apr 2012 04:55:21 GMT

Does anyone have any contact info they could PM me for someone at Verizon that could help ie email, phone#, or address. I've tried calling Verizon before to deal directly with them but have gotten no where. I don't even remember what the phone # is to this account as I only had it for 3 months. It was back when the Blackberry storm first launched and the phone was such a POS I had to switch providers to get the service I needed for work. They even replaced the storm twice within those 3 months because it locked up so much. I wish those stupid contracts worked both ways. If they could of provided me the service I signed up for I never would have switched. Any contact info would be greatly appreciated.

Re: Verizon MCM

Harrison0550 — Mon, 30 Apr 2012 20:10:55 GMT

Ok so I contacted Verizon today and they did in fact verify Midland purchased the account. I ask him why they were still reporting on my file if they no longer own the debt. He put me on hold and came back and said that he had submitted to have the account deleted from my credit reports and should be gone within 3-5 business days. Now if I can somehow get Midland to agree not to report at all then this will work out perfect. Does anyone have a sample letter or advice on what guidelines I should use to write a letter to midland before they start reporting?

Re: Verizon MCM

traveler2005 — Mon, 30 Apr 2012 22:30:36 GMT

Be careful, I got the same type letter on my verizon account, I paid it expecting to be done, it went on my credit report, as a paid off /charge off. I have called many times to try to get it to say "paid in full" as they wrote in the letter, but for 2 years now it says it is a paid off/charge off. So much for a good deal. Only good thing as of a couple days ago it stopped reporting to equifax, now reports only to TU and EXP, don't know why, maybe they will delete also.

Re: Verizon MCM

Harrison0550 — Tue, 01 May 2012 21:48:28 GMT

WOW! I just called yesterday and today I got a fakko score increase of 57 points when the verizon deleted the account from my reports. Now I know it's only a temporary jump because Midland can and probably will report very soon. I really don't know what to do about it. We have a credit management service group here in town that several co-workers have used successfully. Do you guys think if I take them the dunning letter they will be able to pull something off that maybe I can't r don't know how to myself?

Re: Verizon MCM

Harrison0550 — Sat, 16 Jun 2012 06:48:59 GMT

Just as I assumed the score increase was temporary and as of 6/1 midland is now reporting a collection on all 3 reports dropping all 3 score over 60 points. I've now sent them 2 PFD letters offering them the full amount for delete and both letters have gone unanswered. Granted its only been 2 weeks since they started reporting but I'm already feeling defeated by this company as I sent the first letter out almost a month ago. They have my cell # my office # home # and call all 3 multiple times a day. I'm considering just paying them over the phone and take the ding for my mistake. The account is still within the SOL so I'm concerned they will try to garnish my wages/sue over a piss ant $475. What do you guys think? Should I just pay it?