Midland Funding Trouble

[Mellochick]

So why would the OC take the debt off the report if they really wanted to come after him for the money? Why waste their time helping his score instead of keeping the debt on there? You would think if the OC took the debt off his report completely that the CA should have to as well.

[Shokk]

Lol, I call that theft!

But anyway, that will be your DoFD.  So as Robert mentioned, it can stay there for 7 years + 180 days regardless of whether or not the OC is still reporting.  Roughly mid 2016.

[Mellochick]

You mean 2015? 7 years plus a few months. One more year basically. But I think I should still be able to fight this. What if the OC decided to just write it off as a bad debt and deleted the account?

[Shokk]

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@Mellochick wrote:

You mean 2015? 7 years plus a few months. One more year basically. But I think I should still be able to fight this. What if the OC decided to just write it off as a bad debt and deleted the account?

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Yes, sorry. 2015.

As to the second part, its hard to say.  They wrote it off as bad debt long ago.  I had one that wasn't reporting either, even though it should have been.  Didn't question it much.  Just glad it wasn't there.

Midland is probably one of the hardest to get rid of.  It can be done, but not usually easily. Make sure its reporting accurately.  If its not, dispute it with the CRAs.  If they neglect to correct it, file a complaint with the CFPB and/or find an attorney.

[Mellochick]

Is it possible to dispute it if I get documentation from the OC that they aren't coming after us anymore. I know that a different collection agency had the debt prior to Midland. And I ran the previous credit report clear back in January last year. And just ran it again the beginning of this month and noticed the changes. I knwo that in a week, they can't sue or collect on it anymore, but the fact that it shows it being opened in November 2013 is what is making me angry. If the OC had already taken it off, why is it just now being reported by Midland. Is it possible for the prior collection agency to have sold it to them I am assuming. I just don't want this NEW debt to be showing since the original debt isn't reporting anymore! It's literally 2/3 of the debt on the report for one item. And if it were gone, it should make a HUGE impact on the score and report. And we found our dream house we are trying to get and this holding us back!!!

[Shokk]

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@Mellochick wrote:

Is it possible to dispute it if I get documentation from the OC that they aren't coming after us anymore. I know that a different collection agency had the debt prior to Midland. And I ran the previous credit report clear back in January last year. And just ran it again the beginning of this month and noticed the changes. I knwo that in a week, they can't sue or collect on it anymore, but the fact that it shows it being opened in November 2013 is what is making me angry. If the OC had already taken it off, why is it just now being reported by Midland. Is it possible for the prior collection agency to have sold it to them I am assuming. I just don't want this NEW debt to be showing since the original debt isn't reporting anymore! It's literally 2/3 of the debt on the report for one item. And if it were gone, it should make a HUGE impact on the score and report. And we found our dream house we are trying to get and this holding us back!!!

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This wont' matter.  That's how it works.  The OC gave up and sold the debt.  They couldn't come after you if they wanted to.  If Midland just aquired the debt, it is a new collection.  Nothing to be done about that.  Just make sure there's not another CA trying to collect the same debt.  That would be a no-no.

[buildafico]

When a debt is charged off the OC is no longer coming after you for the debt, they've made an insurance claim and taken a tax write off. However they are fully within their right (in most cases) to assign the debt to a CA who is now handling the account, and acting upon the OC's behalf. The fact that the OC is no longer pursuing payment themselves does not excuse a debt from being owed, the debt simply goes beyond a threshold. You could fight them on the DOFD but be warned if they know their time is running out they most likely will sue you.

[Mellochick]

The statute of limitations on them being able to sue me expires next week in April becuase it has been 6 years which is the Ohio rule for credit cards. They won't be able to sue me anymore but I will just have to be stuck with it on my credit for another year and a half. I just find it odd that the OC quit reporting it and yet there is a new collection agency after me.

[buildafico]

if the debt is past the CRTP then the CRA's will remove it. I live in ohio as well, where you are correct the SOL is 6 years, however the CRTP is still beyond that. Also, midland doesn't exactly follow the rulebook, just becuase they they're technically not allowed to sue you, it definitely does not mean they won't anyway. make sure you fight it becuase if you don't they'll enter a default judgement. their lawyers will state some case law about 15 year SOL blah blah blah

[Mellochick]

Oh I know abotu Midland. I am struggling with them on another issue myself as well. They don't play fair at all.