01-22-2013 07:04 AM
My credit report is listing MIDLAND has a "recent late payment/new collection" but they've been on my credit report!! What do I do?
01-22-2013 08:08 AM
First, be sure that the debt collector is acutally reporting a late on the collection account. Sometimes a commercial credit report will list delinquencies that occured under an OC account under the collection account heading, making it appear as if reported by the debt collector.
If reasonably sure they reported a delinquency on the collection, then I would send them a direct dispute under FCRA 623(a)(8), with the inaccuracy being the reporting of a delinquency when you have no account with them, and additionally never sent a billing statement upon which to base any date of delinquency.
They have apparently being playing this game with other consumers, asserting that purchase of a debt establishes an account agreement with the consumer, and often accompanied by their reporting of an installment loan. If they list an installment account under their collection, include that in your direct dispute.
If they verify the accuracy of their ability to report a delinquency on a collection, you have an issue that must be put before a third party for resolution, and FTC complaint and/or civil action is the next step. You could also supplement with a BBB complaint.
01-22-2013 01:20 PM
Thank you! Once I send Midland the direct dispute letter how long do I wait for a reply? Do I also send a copy of the letter to the Credit reporting agencies?
01-22-2013 01:49 PM
No need to send a letter to the CRAs.
01-22-2013 02:42 PM
The same thing just happened to me today. Must be reporting day for MCM.
01-22-2013 02:53 PM
same here! hate them
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.