topic Re: Is this even legal? Re: Midland in Rebuilding Your Credit

Is this even legal? Re: Midland

TM0312 — Fri, 25 Jan 2013 21:04:39 GMT

I have an old HSBC CO which had a CO balance of $239. It is set to fall off 9/2013. Midland bought the account, I'm assuming,

and is reporting the same account on all 3 CRA's with a balance of $819. Is this legal? Can a credit agency report an innacurate

balance on an account that they have purchased? I was thinking of tackling this and doing a PFD to Midland, but the more I started

thinking about it, what they are doing doesn't even sound legal?

Re: Is this even legal? Re: Midland

guiness56 — Fri, 25 Jan 2013 21:31:23 GMT

That amount would include the original amount they could collect and all of the fees they tacked on. They can only add interest in the amount allowed by the original agreement with the CC and/or your state laws.

You can tell them you want an accounting of all interests, fees, etc. They have to give it to you.

Re: Is this even legal? Re: Midland

Mishwatson — Fri, 25 Jan 2013 22:24:04 GMT

Midland did this to me as well, added 2300 in less than a year I sent them dv, asked for breakdown of amount they charged and they deleted from CRA's. who knows if they will end up selling debt but they deleted so ill cross that bridge if I get there ...

Re: Is this even legal? Re: Midland

TM0312 — Fri, 25 Jan 2013 22:27:39 GMT

Mish..

Do you happen to have a copy of the DV letter you sent them that you could PM me?

Re: Is this even legal? Re: Midland

smoovone — Fri, 25 Jan 2013 22:45:36 GMT

Will you PM me that DV as well Mish?

Re: Is this even legal? Re: Midland

JCSC — Fri, 25 Jan 2013 23:06:08 GMT

Mish

Would love to see the DV also please. Thank you

Re: Is this even legal? Re: Midland

FLAJenn — Fri, 25 Jan 2013 23:27:12 GMT

Me as well Mish, if you don't mind :)

Re: Is this even legal? Re: Midland

musicdiva — Sat, 26 Jan 2013 01:00:32 GMT

Hi Mish,

Me too, if you don't mind. :smileywink:

Thank you!!

Re: Is this even legal? Re: Midland

Kevin5974 — Sun, 27 Jan 2013 05:45:09 GMT

I need this as well please!! thanks!!

Re: Is this even legal? Re: Midland

Reighn9 — Sun, 27 Jan 2013 07:48:19 GMT

I have 2 accounts with Midland, one was still on the CRA when they first called. They refused to give me a DV. I've been making payments for about 2 years now and I know their amount is quite a lot higher than what I owed , but they never told me the original amount. A few months later they called me on another account, not on CRA, with another exorbitant amount. This had been a secured card. Not only can I not get a DV, I can't find out if I've gotten credit for the secured amount. Neither account is being reported at this time. I've had nothing but trouble from Midland. They don't keep to their payment arrangements, they stop my automatic payments and demand a different payment or account due in full, different agents will call and tell me the previous arrangements I made weren't legal. I'm on Social Security, I'm paying voluntarily. They can't garnish my check. They can't legal sue me, these accounts are past the statutes of limitations. Can I stop making the payments? I don't like the way I'm being treated and being charged many times more than I owe without proof. They refuse to provide any accounting.

Re: Is this even legal? Re: Midland

McArthur — Sun, 27 Jan 2013 14:04:58 GMT

Reighn9 wrote:
I have 2 accounts with Midland, one was still on the CRA when they first called. They refused to give me a DV. I've been making payments for about 2 years now and I know their amount is quite a lot higher than what I owed , but they never told me the original amount. A few months later they called me on another account, not on CRA, with another exorbitant amount. This had been a secured card. Not only can I not get a DV, I can't find out if I've gotten credit for the secured amount. Neither account is being reported at this time. I've had nothing but trouble from Midland. They don't keep to their payment arrangements, they stop my automatic payments and demand a different payment or account due in full, different agents will call and tell me the previous arrangements I made weren't legal. I'm on Social Security, I'm paying voluntarily. They can't garnish my check. They can't legal sue me, these accounts are past the statutes of limitations. Can I stop making the payments? I don't like the way I'm being treated and being charged many times more than I owe without proof. They refuse to provide any accounting.

If the accounts are past the statute of limitations, you can safely refuse to pay them. You need to be careful and thoroughly investigate your state's civil procedure law as it pertains to SOL. In some states the fact that you've been voluntarily making payments on the account may reset the SOL. Assuming the SOL has run and they can no longer sue you, if you stop paying they will likely hound you. Sending them a Cease & Desist (aka FOAD) will solve that issue.

Are the accounts still on your credit report? They should not appear on your credit report, generally, after 7.5 years have passed from the date they first went delinquent.

Re: Is this even legal? Re: Midland

guiness56 — Sun, 27 Jan 2013 15:09:00 GMT

Even if the SOL had run, when you started making payments, there is a big chance you restarted the SOL. If you were to quit paying, they could sue you.

If you are thinking about stopping, check your states SOL laws and find out before hand.

Re: Is this even legal? Re: Midland

Reighn9 — Sun, 27 Jan 2013 16:52:05 GMT

Neither one is on my Credit Report. Only one was on the report when I started paying, and it dropped off within 3 months. The SOL here is 4 years. I can't find out anything about the Agency being able to restart the time in this state if you start making payments eventually.

Re: Is this even legal? Re: Midland

guiness56 — Sun, 27 Jan 2013 17:31:20 GMT

It isn't the agency that can restart the SOL, it is your making payments that can restart it.

What state are you in?

Re: Is this even legal? Re: Midland

Reighn9 — Sun, 27 Jan 2013 18:48:53 GMT

Texas. Haven't been able to find anything on the AG page about making payments, just the SOL. The other old accounts I had either with or without collections didn't start over after I started making payments. Most weren't in collection. I had Medical problems in 2006 and got behind. Talked to every company and most were reasonable. I don't think they started over, I really don't know. Everyone that would work with me is paid in full.

Re: Is this even legal? Re: Midland

guiness56 — Sun, 27 Jan 2013 19:20:50 GMT

I'll see what I can find out.

Ok, I found an old thread dealing with this same subject. As long as you didn't sign anything acknowledging it your ok:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Partial-Payments-amp-Resetting-SOL-in-Texas/td-p/364363

Re: Is this even legal? Re: Midland

Reighn9 — Sun, 27 Jan 2013 22:21:58 GMT

I don't remember signing anything with Midland. Everything was done over the phone. The only written correspondence I've received from them is monthly statements that my payment will be withdrawn and demand for payment when they decide to stop autopay or another agent reviews my accounts. I have reported Midland and various agents to the FTC several times. Thanks for the link. The 4 years was up long ago because the 7 year limit was up on the newer account in October 2010. I really wasn't trying to avoid paying these bills, I'm just tired of the hassles from Midland and the lack of proof on what I owe because I know I didn't have anywhere near the amounts Midland is claiming on either card.