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01-25-2013 01:04 PM
I have an old HSBC CO which had a CO balance of $239. It is set to fall off 9/2013. Midland bought the account, I'm assuming,
and is reporting the same account on all 3 CRA's with a balance of $819. Is this legal? Can a credit agency report an innacurate
balance on an account that they have purchased? I was thinking of tackling this and doing a PFD to Midland, but the more I started
thinking about it, what they are doing doesn't even sound legal?
01-25-2013 01:31 PM
That amount would include the original amount they could collect and all of the fees they tacked on. They can only add interest in the amount allowed by the original agreement with the CC and/or your state laws.
You can tell them you want an accounting of all interests, fees, etc. They have to give it to you.
01-25-2013 02:24 PM
Midland did this to me as well, added 2300 in less than a year I sent them dv, asked for breakdown of amount they charged and they deleted from CRA's. who knows if they will end up selling debt but they deleted so ill cross that bridge if I get there ...
01-25-2013 02:27 PM
Do you happen to have a copy of the DV letter you sent them that you could PM me?
01-25-2013 03:06 PM
Would love to see the DV also please. Thank you
01-25-2013 05:00 PM
Me too, if you don't mind.
01-26-2013 11:48 PM
I have 2 accounts with Midland, one was still on the CRA when they first called. They refused to give me a DV. I've been making payments for about 2 years now and I know their amount is quite a lot higher than what I owed , but they never told me the original amount. A few months later they called me on another account, not on CRA, with another exorbitant amount. This had been a secured card. Not only can I not get a DV, I can't find out if I've gotten credit for the secured amount. Neither account is being reported at this time. I've had nothing but trouble from Midland. They don't keep to their payment arrangements, they stop my automatic payments and demand a different payment or account due in full, different agents will call and tell me the previous arrangements I made weren't legal. I'm on Social Security, I'm paying voluntarily. They can't garnish my check. They can't legal sue me, these accounts are past the statutes of limitations. Can I stop making the payments? I don't like the way I'm being treated and being charged many times more than I owe without proof. They refuse to provide any accounting.