Midland Credit Question

Anonymous · ‎04-12-2015

I paid a Midland Credit account in FULL ($586) and they reported to the credit agencies a new balance of ($96). Has anyone had this problem of where they reported a different amount than you paid. I have a letter from Midland saying that my account was paid in full and was closed and being to reported as paid and closed. Should I send the credit agencies the letter showing that I paid in full?

gdale6 · ‎04-12-2015

@Anonymous wrote:
I paid a Midland Credit account in FULL ($586) and they reported to the credit agencies a new balance of ($96). Has anyone had this problem of where they reported a different amount than you paid. I have a letter from Midland saying that my account was paid in full and was closed and being to reported as paid and closed. Should I send the credit agencies the letter showing that I paid in full?

Welcome to My Fico

I would send Midland a direct dispute on that balance reporting along with a copy of your PIF letter.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Direct-dispute/td-p/2309095

Anonymous · ‎04-12-2015

The Collection Agencys are the SCUM of the Earth. This happened to my sister. She owed the same devils Midland $496 and they called her and offered a "60 percent settlement" off the original amount and they would update the three CRA's with "Paid in Full". She did not get PROOF THAT THEY offered this to her. It was only verbal. So they updated her report that she paid the 60 percent but still owed the rest. LOL these CA's are pure evil. Most companies would be like oh "we see here we offered a settlement for 60 percent off". But what did Midland do for the $198 they said she still owed? SUED HER FOR $198!!

I hope this does not happen to you. Fight this evil company tooth and nail AND GET EVERYTHING IN WRITING!

gdale6 · ‎04-12-2015

@Anonymous wrote:
The Collection Agencys are the SCUM of the Earth. This happened to my sister. She owed the same devils Midland $496 and they called her and offered a "60 percent settlement" off the original amount and they would update the three CRA's with "Paid in Full". She did not get PROOF THAT THEY offered this to her. It was only verbal. So they updated her report that she paid the 60 percent but still owed the rest. LOL these CA's are pure evil. Most companies would be like oh "we see here we offered a settlement for 60 percent off". But what did Midland do for the $198 they said she still owed? SUED HER FOR $198!!

I hope this does not happen to you. Fight this evil company tooth and nail AND GET EVERYTHING IN WRITING!

Thats illegal a verbal commitment is just as binding I would have countersued them.

Anonymous · ‎04-12-2015

It is ONLY legal if you can proof the convo. Guess what they did not have? No record or recording of that conversation! This is what they told the CFPB when she filed a complaint. They ruled in Midland's favor. This is why you always deal with these people through certified mail only.

Anonymous · ‎04-12-2015

@Anonymous wrote:
The Collection Agencys are the SCUM of the Earth. This happened to my sister. She owed the same devils Midland $496 and they called her and offered a "60 percent settlement" off the original amount and they would update the three CRA's with "Paid in Full". She did not get PROOF THAT THEY offered this to her. It was only verbal. So they updated her report that she paid the 60 percent but still owed the rest. LOL these CA's are pure evil. Most companies would be like oh "we see here we offered a settlement for 60 percent off". But what did Midland do for the $198 they said she still owed? SUED HER FOR $198!!

I hope this does not happen to you. Fight this evil company tooth and nail AND GET EVERYTHING IN WRITING!

She paid 60% and still got sued... Wow, that's a low blow even for Midland. So glad I never took them up on any of their "offers". If it makes you feel any better, Midland probably paid more than $198 to acquire a $15,000+ CC debt, which they've since added tons of interest to nearly $32K (brings to mind those stores that mark items up 100% and then tout 40% off as if it's a great deal). They won't be getting a dime, and it's scheduled to drop by June.

I don't understand why Midland would be so unreasonable anyways, since they only pay, reportedly, around 3-7 cents on the dollar for such debt to begin with. Midland should be happy people they phone / mail pay 50% or whatever. And for those paying in-full, that's practically pure profit to Midland. Word spreads fast on the net about CAs that engage in questionable practices; don't honor their word.

RobertEG · ‎04-12-2015

It is possible, if not clearly stated in your settlement agreement that payment is accepted as full satisfaction of all debt, that the debt collector could assert an additional amount due to them beyond that due for settlement of the debt with the OC.

FDCPA 808(1) governs amounts asserted as due to a debt collector above the principal amount of the debt with the creditor.

It states that it is a violation for a debt collector to attempt to collect any amount, including any interest, fees, etc., above the principal amount of the debt unless it is specifically authorized in the contract that created the debt or authorized by law.

I would review your original account agreement, and use it as a basis for filing a direct dispute contesting the accuracy of the asserted debt.

That will require the debt collector to verify basied on either specific authorization in your accunt agreement with the creditor or some provision of law.

If they do verify an additional debt amount and you disagree, recourse is then to initiate your own civil action contesting the debt.

That will open your access to pre-trial discovery.

Anonymous · ‎04-13-2015

Thanks for your comments and not paying them lol it does make me fell better. And it's not just Midland it's ALL debt collectors. One of my friends a few years ago made the CARNAL mistake of giving one her checking account info for a "Affordable Monthly Payment Plan" lol. They INSTANTLY pulled out the ENTIRE amount she owed 3 times. I think she owed like $300 bucks so not major but got $900 from her and to top it off her bank ruled in the CA favor. They told her "why would you give out your account number and routing number input you did not authorize". And there right she was dumb. You NEVER ever give this to them. She had no PROOF that she did not agree to pay $900.

Spread the word. Collection Agency's are total scum. When I had some on my report I was able to collect $4000 from one I sued in my state. When the judge ruled I looked at the CO on the other side of court room and you can just imagine my smile. I had PROOF they were harassing me. I downloaded a recording app for my phone. It made my day to say the least.

Anonymous · ‎04-13-2015

Always a good idea to record ANY calls with a CA. And NO, you do NOT have to ask their permission to record, no matter what state you are in, if there is any sort of notification from their phone system that they are recording or 'monitoring' the call for qualtiy or training purposes.