MIDLAND CREDIT MANAGEMENT- REPORTING 120+ PAST DUE IN 2010 ON 2006 ITEM

[Anonymous]

I have an old Tribute Master Card from 2006. Last reported date of activity as March 2007. MCM is now reporting this 120+ past due as of 3/2010.

1. This is my account with Tribute.

2. I have not contacted them verbally or in writting to validate it.

3. I did dispute through EQ saying that I needed it validated. EQ investigated saying it was valid. This was in Feburary. It was after this since MCM started reporting 120+ past due again.

4. My SOL in my state of SC is 3 yrs.

How can they do this? The account has been dormant since 2007.

I've read numerous posts here in this forum but I'm still unclear about what to do now. I would love to just PFD with them (even the total amount they want) but I've read no one has had success.

If anyone has any recent news or out comes regarding MCM. I would really appreciate it.

[RobertEG]

They cant.

Your only account with anyone is the one you had with the OC.  The OC can report lates as long as the OC account is open and delinquent.  Was a 120-day  late ever reported by the OC?

The CA does not have an "account" with you.  Reporting of a CA is a separate transaction between only the CA and the CRA.  CAs cant report "120-day lates."

A CA initially reports their collection activity to the CRA, which sets a date of opening of the CA "account" with the CRA.

Thereafter, they can only report on that "account" by updating the status code to one of the following:

1. Balance remains unpaid

2. Partial balance paid, unpaid balance remains

3.Settled for less than the full amount of the debt

4. Full amount paid

5. CA reporting deleted

PFD has mixed success for several reasons.  When a CA reports to a CRA, they accept the reporting guidlines published by the CRA. One of those guidelines clearly states that a CA is NOT to delete prior reporting based on payment of the debt.

So acceptance of a PFD is contrary to their reporting guidelines.  Some CAs will do it anyway, seeing instant money in their pocket.  But if they have any hopes that you will PIF without their agreement to delete the CA from your CR, then they have no incentive to delete.  It is purely a business decision on their part over which you have little control, other than waving instant $$s in their face.

[Anonymous]

Hi Robert,

Thanks for your reply.

Unless I am reading this incorrectly, MCM did exactly that, report an account 120+ past due:  Again the OC was First Bank of Delaware (or Tribute Master Card) and I do not see them reporting anything on any of the 3 CV. I just have read so much about MCM that I'm unsure of what to do next. I've gotten 6 TL deleted off my reports in the last 2 months (Thanks to all advice gleaned from MY FICO! ). MyEQ &TR went up 83 points. Now was knocked down almost 39 by this last "ding" from MCM.

  Credit Account Midland

Status as of [?] Date opened [?] Date of last activity [?] Date closed [?] Account number [?] Loan type [?] Largest past balance [?] Terms [?] Account Type [?] Account holder [?] Scheduled payment amount [?]

Mar, 2010

Nov, 2006

Mar, 2006

Not Reported

Not Reported

Not Reported

$856

Not Reported

Open Account

Individual

$0

Descriptions [?]

• Consumer disputes - reinvestigation in progress
• Collection account

No contact information provided by Equifax

Balance [?] Current Status [?] Past Due Amount [?]

$1,274	120+ days past due	$1,274

Seven year payment history [?]

30 days late 60 days late 90+ days late

0 times

0 times

1 time (Jan 2010)

Recent payment history [?]

3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 2008 2009 2010

Legend:	Currently paid as agreed
	120 days late

[RobertEG]

Payment history profile must come from your OC account, not the CA "account."

And you say that the OC never posted to your CR?  Then how did the CA post payment history?  Their are not reporting codes for a CA to post OC payment profile, so something is wrong.

Do you have accurate account statements from the OC?

I would start there.  Document first what went on with the OC account, and ignore the CA.

If you dont have accurate account statements from the OC, their is nothing to be lost by picking up the phone and talkling with them.  Get their view of the account.  When was you last late with them?  When did they close the account?

Have they sold the alleged debt to Midland, or just assigned collection activity to them?

But DONT call the CA, period.

[RobertEG]

As an aside, did the CA, MCM, ever send you dunning notice, as required under FDCPA 809(a)?

You might want, as an interim measure, to DV the CA as follows:

"This is a wriiten notification under FDCPA 809(b) that I dispute the debt posted by you in my credit report as:

      (their collection account number, and any other identifiers)

"I request full verification of the debt, including but not limited to the full name and address of the original creditor, and cessation of all collection activity on you part until such time as you provide me the required debt validation and the name an address of the original creditor.."

Send this only to the CA.  Dont send to the CRAs

[guiness56]

A CA can report a 120 day late as long as the account was late 120 days when the acquired the account.  They can not continue to update as late each month.

[Anonymous]

Thank you Robert and guiness. I'll start with Roberts suggestion in his last post. MCM acquired this in 2007 or 2008 from what I can tell. I'll post my findings after I send them the letter. Wish me luck and thanks again.