Help with Midland...Again :(

[TM0312]

I have an old account with Verizon that I have had issues with for awhile now (Basically, I called to cancel my home service when I moved. It wasn't closed. Next thing I know I have a collection on my credit report for $2100) Midland now has the account. I never received a dunning letter from them, just showed up as a collection on my CR.

I sent a DV letter to Midland and received a letter back basically saying their information was correct (without clearing stating what their info was) and they would mark the

account as "disputed" on my CR. First of all, I thought they had to let me know exactly how they could verify the info (ss#, etc)? Also,  I thought the accounts could only be marked as "disputed" when you disputed it through EX, EQ & TU? Am I missing something?

My Scores where in the mid 700's, after this, they dropped back down to mid to high 600's

Now what should I do? Any advice would be greatly appreciated!

[RobertEG]

Two issues....what constitutes adequacy of debt verification, and whether a DV is a dispute.

FDCPA 809(b), which defines debt verification, requires that they investigate and obtain verification.  It does not require that their evidence or supporting documentation upon which they arrived at their verification be provided.  The reason is that the DV process has no mechanism or party to require both parties to provide alll relevant documentation, and/or to evaluate documentation of each side, and make a determination as to who is correct in what is almost certain to be contested views of whether the evidence is complete, and what it does or does not prove;  Only a court can make a finding as to contested issues.

You get a statement that they have investigated, and determined that the debt is legit.  If you disagree with their finding, then you need to get the facts before a judge.

As to whether a DV is a dispute, it is not a dispute under either the FCRA or FCBA, which are the types of disputes that can be reported to your credit file.

A DV is refereed to as a "dispute" under  FDCPA 809(a), but in the context of  the legitimacy of the debt, in whole or in part, that does not relate to credit reporting.

Reporting of a DV as a dispute to the CRAs is clearly improper.

[TM0312]

That being said...what should my next step be? Just request a PFD? or settlement offer then hit with GW letters?

I'm frustrated with this whole issue and ready to be done with it. Just don't know what I should do next.

[RobertEG]

If you wish to pay, then a PFD offer would provide the most benefit if accepted, as it would result in both satisfaction of the debt, and credit report deletion.

The only potential peril is that a PFD is only a negotiation offer.  If the debt is still within SOL, they have the option of pursuing a judgment for the full amount, with no concessions.

If they wont agree to deletion, the next best thing is to offer a settlement for less, thus saving $$, with their additional agreement not to report paid/settled for less.

It would then apperar to anyone reviewing your CR the same as if it had been paid in full.

If no concessions to either delete or not report paid for less can be obtained, next best is to save money via a settlement.

Last is to pay in full.  It wont save $$, but obtains immediate satisfaction of the debt, ending any possibility of legal action.

What is the SOL status of the debt?

[TM0312]

SOL in Texas is 4 years. I am at exactly 3 years this month.