Credit Card Center Advertiser Disclosure†
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
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. 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.