Another Midland Nightmare!

[trick1995]

Hello everyone, newbie here.  For the past month I have been trying to rebuild my credit, mainly to buy a house.  I have a 4 old accounts that will drop off in two years.  the thorn in my side is Midland Funding.  I have read many post on here about them, but cant find any that pin point my problem with them.  They are collecting on a HSBC (Best Buy) credit card account that will drop off on 3/2016.

I have tried many attempts to get them off of my report (DV, BBB, CFPB, and dispute with all 3 bureaus).  Nothing is working.  When they responded to my DV, the only document they provided was a last statement from the OC.  The charge off was $850.  When midland picked up the account, they posted $1030.  It sat wit hthat balance for about a year, and when I first diputed them in January 2014, it jumped to $1045.  I disputed again in Feb. and it jumped to $1051.  I did it a third time, and it went down to $1050.

After my long story, my question is, are thre any rules that they must show a statement with the the intrest and fees im assuming they are charging, and do they have to provide documentation from the OC of how they are charging these fees and intrest?

I truly want them off of my reports!

Thanks, Patrick

[trick95]

Just a quick update....I called Midland, and the Rep stated the only documents they have, are the last two credit card statements from my original creditor.

They have no documentation to establish where they got their 6% intrest charge from.  Also, he stated that their intrest charge on the date that they bought the account, which I belive was from another collection company.

[guiness56]

Send them a DV letter asking for the name and address of the OC and an itemization of the debt.

They can add interest and fees if the original agreement and your state laws allow them to.

[trick1995]

Another update.  I have noticed on the two letter they have sent me.  At the bottom of both of them, it states that "Due to the age of this debt, we will not sue you, however we we still report to your credit file"...something along those lines.  And, they are still adding intrest after the SOL.  I spoke with an attorney from the internet, and he advised me that is against the FCRA.  Not sure how true that is.

[guiness56]

No, it is not true.  As long as the original agreement and your state allow, they can continue to add interest and fees until paid.  Doesn't matter about the SOL.

Not sure about the FCRA but it is in the FDCPA about them charging fees.