Has Anyone Settled With Midland Management?

[John060675]

I currently owe about $6,500 on a charged off account, and Midland Management owns the debt.  They keep sending me the same settlement letter offering me to pay 60%. 

My question is whether anyone had had any luck on holding out for a better settlement % with them.  I have sent several letters to them offering a different settlement amount, but they never answer my letter.

Thank you for your thoughts and experiences.

John

[eclipse6704]

I settled a debt with them in February. My balance wasn't nearly as high, but I ended up settling for paying about 60%. My advice is whatever you end up paying them make sure that it is PDF I'm working on fighting with them to get my paid account deleted with no success.

They were very rude and unprofessional on the phone.

[John060675]

Thank you for the advice.  It seems that they have been a little more reluctant to delete settled accounts lately, or that is what it seems from my readings around the internet.  For that reason I definitely will try to have them PFD.

I am not surprised at the 60% settlement.  I have not heard of anyone doing better than this yet.

Anyone else settled for less or had their account deleted recently with a settlement?

Thanks

[RobertEG]

Is the debt still within SOL?  If so, they can still attempt to collect the full amount by taking legal action.  A lot depends on their intent and ability to collect more.

Each 10% on a $6,500 debt is $650.  If they decide they can recover more by taking legal action, and that legal fees are less than the difference, who knows how they will view a lesser offer.  Additionally throwing in a CR deletion condition is asking them for two concessions.... lower payment and deletion of accurately reported information.

In my opinion, throwing in the PFD stipulation might decrease their willingess to accept a lower settlement offer.  The PFD alone may be a killer.

[dude11]

I had two accounts that went to them and one of them they were willing to accept 40% of the total balance and 60% on another. The one where they were willing to accept 40%, the balance was under 1K and it was being handled by another CA one behalf of Midland. I did not however PFD on these since this was done before I learned about credit scores, reports, and etc.                                                                      

[MattieNumNums]

I just settled and account with them. Very unprofessional and lied to me. Either way I paid 60% of the balance and they reported Collection/Paid. It falls off in 3 months and they refuse to discharge it early.

[Anonymous]

I've settled three, all for 60% (which ended up actually being about 80% of the original balances sent to them when you figure Midland's interest added).

They never went for a PFD, or less than 60% and refused their ability to do so. They are also amazingly difficult to pay money to. I found working on their website and via email the easiest route myself. Even with the "we don't respond to email" emails.

On the first, I gave up and paid on mcmcollect.com using the account + SS# then "I cannot pay today", then once it clears send the CEO a GW letter.

They deleted it.

I am trying the same on the other two with hopes they go away as well. (PIF Settlement for 60% offer, cleared, GW letter sent)

These are the last two unpaid baddies on my report (to be sure there are paid baddies, but the LO just wants all paid - most came off easy though!)