How should I deal with Midland Credit Management, Inc.?

[Anonymous]

They sent me a letter stating that they purchased my account from another lender and that If I don't pay them in full by 11-4-2012 they're considering forwarding my account to an attorney in my state for possible litigation. 

I was thinking of sending a DV letter but I also read they don't even respond to those so it may not be worth it. This is about an old account that allegedly had a balance  of K and they purchased it from chase and are now saying I owe it to them. The account is due to fall off my record January of next year, why are they coming after me now and how do I make this creditor go away? I'm really not sure what to do, I'd rather not go to case and If I can fight this now with verification and validation letters or whatever need be, I'm going to do it.

[Shogun]

Send the DV.  No, they don't have to answer it, but if they just sent you the letter, your DV would be considered timely.  This means they are time barred from collection activities until they respond.  That includes sending it to their attorney for a possible suit.  How old is the collection?  What is the DOFD?

[Anonymous]

if i'm not mistaken the DOFD is about 6 or 7 years old, and in NY I believe shouldnt be relevant come next year. 

[Shogun]

Sol in New York is 6 years I believe.  I would do my research and find the DOFD for this account.  If its older than 6months then their dog has no bite.

[Anonymous]

i went and checked transunion (got all 3 accounts) and then i checked experian report. I can't acutally find the DOFD, but the late payments on the card began in March of 2009.. so maybe there's something to worry about?

[nicholasyud]

Remember sent by certified mail return receipt and keep all the record when you sent DV..........

[Shogun]

Experian and TU won't have that on them, they will have the date it's expected to fall off and you go back 7 years from that.  And yes, if the account didn't go delinquint until 2009 then it is well within the SOL of New York.

[Anonymous]

SO my best recourse is to send the DV. which I've found on here and its the KISS method as oppose to the one found on Credit Info Center

[Shogun]

Yes, send the DV.  I know some people write and request all kinds of stuff, that's not necessary because they don't have to send you all that for a DV.  Get it sent so it's timely.

[Anonymous]

For whatever reason I was unable to log back into my account. SSamuel05 here. I sent the DV and did the CMRRR and everything as described and receieved a response this afternoon. Below is the letter from MCM:

Dear XXX,

Midland Credit Mangement, Inc. is the SERVICER of the above-mentioned CHASE BANG USA, N.A. account. This is a demand for payment. Please include a check or money order for the Current Balance due. Once the balance has been received, the three major credit reporting agencies will be notified that the account is paid in full.*

Please do not hesistate to contact me at xxx-xxx-xxx, ext xxxxx if you have any questions.

Please understand this is a communication from a debt collection. This is an attempt to collect a debt. Any information obtained will be used for that purpose.

Calls to and/or from this company may be monitored or recorded.

Sincerly,

Brian,

Midland Credit Management, inc.

*your credit report will not be updated if the federal reporting period has expired.

new york city department of consumer affairs license number 1140603, 1207829, 1207820, 1227728.

I'm not really sure what my next steps should be. Could someone advice me?

Thank you in advance.