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Midland Credit Managment - Question about SOL

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Anonymous
Not applicable

Midland Credit Managment - Question about SOL

Midland Credit Management was the CA that Citibank assigned or sold my account to for non-payment.  They first contacted me by letter in January 2006, that was mailed to my parent's house where I had not lived since September 2000.  Having not found this web site I immediately called them and set up a payment arrangement b/c I didn't want them contacting my parents in any way again. The total amount owed at that time was approximately $2700.  I set up a payment arrangement to pay them $100 every month.  The $100 was deducted from my checking account by them for the next 12 months.  During that time frame they would call at the end of every month to make sure my payment was ok to deduct and they would send a statement every month showing my payment and my new balance. 
 
Then in January 2007 they stopped calling me and stopped automatically taking out my scheduled payment of $100.  Seeing as I needed the money I did not attempt to call them at all.
 
In May of 2007 I received a called from them.  I called them back and they wanted to offer me a settlement for the account.  They now had the total at more then the original amount b/c of interest, fees, etc.  I told them I had set up a payment plan, but they had stopped collecting.  They said they sent me letters and called me.  I did not receive any letter or get any phone calls eventhough I had the same address and same phone number the entire time that they had been calling and sending statments too previously.  I told them I could start doing the $100 again, but they said I had to at least pay the $100 per month for the 5 months I had missed before they set that back up.  I didn't have the money so I told them I wasn't going to pay it.  We hung up and I haven't heard from them since.
 
I still have them on all 3 CR's at the amount of $2700+.  I want to get them off, but I am afraid of DV'ing b/c of SOL.  It is 4 years in TX and I am afraid it will be from 12/2006 b/c that is the last time I paid them.
 
What is my best course of action?
Message 1 of 7
6 REPLIES 6
Boswd
Valued Contributor

Re: Midland Credit Managment - Question about SOL

You statute of limitations will be reset since the payments.   In terms of whose right and wrong of why they stopped collecting on the scheduled payments?   It's crappy but it will always fall on the debtor, ignorance, (this is law speaking not me ) is no excuse and knowing the amount scheduled to be paid wasn't being deducted and not calling them back and notifing them was the first mistake.   If it will ever get to the point where it goes to court, the judge will just say to you " You know you owed the debt and you know it wasn't being deducted then why didn't you call,  Judgment for the Plaintiff."   That's just reality.
 
You can't, well you can, DV them but they won't be under any obligation to send you anything since you have already been in a payment plan with them.
 
Under the advisement of many not to ever call the a CA,  I would have to say you should in this case.  $2,700 is something they will sue over and the longer you wait the more of all those fee's and interest charges will just keep adding up making it even more attractive to sue you over.
 
I would call them back and see if they would get into another payment arrangement that is a little more affordable then paying them back the $500 up front, shoot for something like $200 if you can. 
 
Overall they don't want to sue if they don't have to but at the sametime they want it paid with some form of effiency.    So I would call them back and don't get into a shouting match with them,  you don't have to cower either but try to be civil and if it's going no where ask to speak to their manager and try to work something out.
 
Other's will chime in and say NEVER talk to a CA, but I think it's beyond that point and you have to open up some form of communication before this gets worse.


Message Edited by Boswd on 12-27-2007 10:51 AM
Message 2 of 7
Anonymous
Not applicable

Re: Midland Credit Managment - Question about SOL

Wouldn't it be better to at least try a PFD??
Message 3 of 7
Anonymous
Not applicable

Re: Midland Credit Managment - Question about SOL

A few other points to consider as well.  Is there anything I can do based on this info??

On Experian.  The account is on there twice and shows as the following.

MIDLAND CREDIT MANAGEMENT        Address: 8875 AERO DR
SAN DIEGO, CA 92123
(888) 403-6206

Account Number:
850863....

Original Creditor:
CITIBANK

Status: Collection account. $2,762 past due as of Mar 2007.
Status Details:  This account is scheduled to continue on record until Nov 2008

Date Opened:
11/2004
Type:
Installment

Reported Since:
05/2002

Terms:
1 Months

Date of Status:
05/2002

Monthly Payment:
$0

Last Reported:
03/2007

Responsibility:
Individual

Credit Limit/Original Amount:
$2,658

High Balance:
NA

Recent Balance:
$2,762 as of 03/2007

Recent Payment:
$0

Account History:
Collection as of Mar 2007, Dec 2006, Sep 2006 to Nov 2006, Jun 2005 to Jul 2006, Mar 2005, Jan 2005, May 2002

MIDLAND CREDIT MANAGEMENT    

Address: 4310 E BROADWAY RD
PHOENIX, AZ 85040
No phone number available

Account Number:
850863....

Original Creditor:
CITIBANK

Status: Creditor cannot locate individual.
Status Details:  As of May 2009, this account is scheduled to go to a positive status.

Date Opened:
11/2004

Type:
Installment

Reported Since:
NA
Terms:
NA

Date of Status:
02/2007

Monthly Payment:
$0

Last Reported:
NA

Responsibility:
Individual

Credit Limit/Original Amount:
$2,658

High Balance:
NA

Recent Balance:
NA

Recent Payment:
NA

Account History:
Creditor cannot locate individual from Feb 16, 2007 to Apr 11, 2007

On Equifax:  Shows as Closed Account with status as Collection Account with the last Date of Activity as 5/2002.

On Transunion: Shows as Open Account with status as Collection Account with the only date being the Date Updated date of 3/2007.

Message 4 of 7
Boswd
Valued Contributor

Re: Midland Credit Managment - Question about SOL



hgolf1848 wrote:
Wouldn't it be better to at least try a PFD??



Sure you can try that, absolutley, but if you didn't have the money to get back into the original payment plan by paying them the $500 of back payment, can you afford to pay them in full for deletion?
Message 5 of 7
Boswd
Valued Contributor

Re: Midland Credit Managment - Question about SOL



hgolf1848 wrote:

A few other points to consider as well.  Is there anything I can do based on this info??

On Experian.  The account is on there twice and shows as the following.

MIDLAND CREDIT MANAGEMENT        Address: 8875 AERO DR
SAN DIEGO, CA 92123
(888) 403-6206

Account Number:
850863....

Original Creditor:
CITIBANK

Status: Collection account. $2,762 past due as of Mar 2007.
Status Details:  This account is scheduled to continue on record until Nov 2008

Date Opened:
11/2004
Type:
Installment

Reported Since:
05/2002

Terms:
1 Months

Date of Status:
05/2002

Monthly Payment:
$0

Last Reported:
03/2007

Responsibility:
Individual

Credit Limit/Original Amount:
$2,658

High Balance:
NA

Recent Balance:
$2,762 as of 03/2007

Recent Payment:
$0

Account History:
Collection as of Mar 2007, Dec 2006, Sep 2006 to Nov 2006, Jun 2005 to Jul 2006, Mar 2005, Jan 2005, May 2002

MIDLAND CREDIT MANAGEMENT    

Address: 4310 E BROADWAY RD
PHOENIX, AZ 85040
No phone number available

Account Number:
850863....

Original Creditor:
CITIBANK

Status: Creditor cannot locate individual.
Status Details:  As of May 2009, this account is scheduled to go to a positive status.

Date Opened:
11/2004

Type:
Installment

Reported Since:
NA
Terms:
NA

Date of Status:
02/2007

Monthly Payment:
$0

Last Reported:
NA

Responsibility:
Individual

Credit Limit/Original Amount:
$2,658

High Balance:
NA

Recent Balance:
NA

Recent Payment:
NA

Account History:
Creditor cannot locate individual from Feb 16, 2007 to Apr 11, 2007

On Equifax:  Shows as Closed Account with status as Collection Account with the last Date of Activity as 5/2002.

On Transunion: Shows as Open Account with status as Collection Account with the only date being the Date Updated date of 3/2007.




The Experian does look to be a double entry,  I would dispute one of them as such.   The other two I would leave alone.
Message 6 of 7
Anonymous
Not applicable

Re: Midland Credit Managment - Question about SOL

I didn't have the money back in March of this year when I last had contact with them, but I recently received quite a bit of money from an inheritance that I could easily PFD.  The inheritance is what has allowed me to start trying to manage my current credit problems.
Message 7 of 7
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