CO and collection

[namron77]

One of my charged off credit cards from a few years ago just showed up as a collection account from Midland.  I tried contacting the OC a few months ago to at least lower my utilization and they told me the account of was sold.  I am obviously going to DV Midland, but now both the OC and Midland are both reporting.  I'm sure this is KILLING my score.  How can I make one of them go away?

[fused]

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namron77 wrote:

One of my charged off credit cards from a few years ago just showed up as a collection account from Midland.  I tried contacting the OC a few months ago to at least lower my utilization and they told me the account of was sold.  I am obviously going to DV Midland, but now both the OC and Midland are both reporting.  I'm sure this is KILLING my score.  How can I make one of them go away?

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Who is the OC and are they now reporting a $0 balance on this CO? Do you remember when this CC went 180 days late (charge-off)...DOFD? Before you DV Midland, do you know your state's SOL. If not look in the threads below?

http://www.fair-debt-collection.com/statue-limitations.html

http://www.bankrate.com/brm/news/cc/20040116b2.asp

[namron77]

It is for First National Bank.  DOFD is only about 2 yrs of go so it's still within SOL.  Yes First National is showing a zero balance.   I'm not sure what to do.  Also, the high balance was only $343 and Midland is reporting $520 due to them.  That seems like an excessive fee for the collection.

[fused]

DVing a CA while legal SOL has not passed has it's risks...Midland could turn around and have you served. If you have the money on hand to pay the full amount, you can try and DV Midland via  CMRRR. If they validate, offer a PFD...just remember your mileage may vary. And yes, the interest is a real PITA!

[FICOfit]

I chose not to DV Midland when I received their dunning letter when I was still within SOL.  I've seen far too many threads on this forum about Midland filing suit.  I would suggest PFD if they are reporting.  If they are not reporting, get something in writing stating that they will not report if they receive payment by x date (assuming you have money to pay them). 

That's kind of what happened with me.  Midland wasn't reporting and in their dunning letter it stated that if payment was received by the due date, they would not report.

Midland is apparently a notorius CA.