Help with CA (Midland) Please...

[Anonymous]

Hi all,

   Ok I've been repairing my credit for about a year and half now and I have moved my scores from 400s to 650s now. My problem is this one collection account from 10 years ago. I was 18 and got a credit card from HSBC with a limit of $300. Being young and dumb at the time, I  maxed it out and never paid it. Now, 10 years later, its haunting me. Midland owns it and the balance is up to $2500 on it, which I really don't want to pay on a $300 credit card. I'd be more than happy to pay the 300 I owe though. I've tried disputing with the cb's but they validate it. So I sent a DV letter to midland and they wrote me back requesting I provide them with account information (which I don't have anything on). What can I do to get rid of this? Do I have to eat it and shell out $2500 to make it go away?

Any advice would be greatly appreciated! Thanks in advance!

[inthematrix]

Why is it still on there after 10 years? It should have dropped off at 7 1/2. Was it a judgment?

[Anonymous]

No it is not a judgement. Collection account. I'm guessing it is still there because Midland didn't take it over til 2004, is what the report it as. The account was  opened with HSBC in 2000.

[diveforfun97]

When did the account go bad?

[Anonymous]

The HSBC account? 2001 I think maybe 2002 at the latest, the OC has already feel off my credit report. Then as far as Midland I have no idea, just what they reported to the CB's which is 2004