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Midland Funding as original Creditor?

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mwv813
New Visitor

Midland Funding as original Creditor?

Going through my reports pulled from myFICO and found something wierd..

 

 

Midland Funding is showin as the original creditor on my Equifax report, when EEX and TU show it as Credit One Bank.  

 

 

Collection on debt to: Midland Funding Llc

A collection agency was hired to collect a debt of $656 originally owed to "Midland Funding Llc".

 

Original balance $656
Current balance $871
Date assigned Feb, 2013
Original lender Midland Funding Llc
Account holder Individual
Amount past due $871

Account descriptions   Consumer disputes this account information
Collection account

 

 

The Date assigned is also different than what the others are reporting.  Is this something that a Dispute will remove because of?

 

* You will see the dispute already showing there.  This is because of a company I hired to handle all of this for me who has since stopped responding to me.  I have no idea what they disputed here.

 


Starting FICO 8 Score: EQ: 604 TU: 607 EX: 572 03/26/15
Current FICO 8 Score: EQ: 678 TU: 705 EX: 678 05/08/17
Goal FICO 8 Score: 750


Take the myFICO Fitness Challenge
Message 1 of 40
39 REPLIES 39
surferchris
Valued Contributor

Re: Midland Funding as original Creditor?

Midland is notorious for incorrect reporting.  They usually list themselves as either the OC or a factoring company.  These tactics are used to inflict maximum damage to your reports (credit score).  If you do a search here or in Google, you will find plenty of info on this.  Best of luck.

Current Cards:
AmEx Hilton Honors Surpass//AmEx Platinum Card//Ann Taylor Rewards Mastercard//Capital One Platinum Card//Credit One AmEx//Credit One Platinum VISA//Fingerhut//Navy More Rewards AmEx//TruWest Platinum VISA//Aspire VISA//Costco Anywhere VISA//Lowes Advantage//Apple Card
Loans:
1 Mortgage/////Navy FCU Auto Loan (2020 Jaguar I-Pace)//Capital One Auto (2016 BMW i3)
Next Cards (4th QTR 2022):
Navy Flagship Rewards VISA//Chase Sapphire Preferred
Stats:
Scores: 700's // Inq's: 1 for mortgage // Util: 1% // AoOA: 21 yrs

Message 2 of 40
mwv813
New Visitor

Re: Midland Funding as original Creditor?

Thanks Chris! I looked around here and didn't find anything, maybe I am searching wrong.

Since it is wrong, I assume I can dispute directly with EQ for removal?

Starting FICO 8 Score: EQ: 604 TU: 607 EX: 572 03/26/15
Current FICO 8 Score: EQ: 678 TU: 705 EX: 678 05/08/17
Goal FICO 8 Score: 750


Take the myFICO Fitness Challenge
Message 3 of 40
Anonymous
Not applicable

Re: Midland Funding as original Creditor?

Assuming Midland is only assigned and doesn't own the debt, contact Credit One and ask them to recall the collection. It's very important, especially being it's Midland, to get that TL gone before paying a penny to Credit One. From what I've read, Credit One is simple to settle with, and may even offer you another card afterwards - you may want to pass on that Smiley LOL

Message 4 of 40
Anonymous
Not applicable

Re: Midland Funding as original Creditor?


@mwv813 wrote:

Going through my reports pulled from myFICO and found something wierd..

 

 

Midland Funding is showin as the original creditor on my Equifax report, when EEX and TU show it as Credit One Bank.  

 

 

Collection on debt to: Midland Funding Llc

A collection agency was hired to collect a debt of $656 originally owed to "Midland Funding Llc".

 

Original balance $656
Current balance $871
Date assigned Feb, 2013
Original lender Midland Funding Llc
Account holder Individual
Amount past due $871

Account descriptions   Consumer disputes this account information
Collection account

 

 

The Date assigned is also different than what the others are reporting.  Is this something that a Dispute will remove because of?

 

* You will see the dispute already showing there.  This is because of a company I hired to handle all of this for me who has since stopped responding to me.  I have no idea what they disputed here.

 



I thought I was the ONLY one! 

 

Message 5 of 40
Anonymous
Not applicable

Re: Midland Funding as original Creditor?

http://ficoforums.myfico.com/t5/forums/searchpage/tab/message?filter=labels&q=midland+deleted

 

Here is the link to a search for "midland deleted" which shows a lot of people having success with getting them taken care of because of various issues. They are a tough nut to crack though, or so I've heard...good thing I'm stubborn. Smiley Mad

Message 6 of 40
Anonymous
Not applicable

Re: Midland Funding as original Creditor?

I have a midland that is about to fall off in August, but I'm getting impatient with the way it's killing my scores.  They report every month and update that the running balance is the original balance.  I can print out all the CRA reports and it shows that they continue to change the original balance to match the new "updated and past due" balance they report.

 

They have a debt from 2008 that was just over $2k that is now bloated up to their "original" amount of $4139.  I'm at a loss on it, however it runs for exclusion on August of this year.

Message 7 of 40
Anonymous
Not applicable

Re: Midland Funding as original Creditor?


@mwv813 wrote:

Going through my reports pulled from myFICO and found something wierd..

 

 

Midland Funding is showin as the original creditor on my Equifax report, when EEX and TU show it as Credit One Bank.  

 

 

Collection on debt to: Midland Funding Llc

A collection agency was hired to collect a debt of $656 originally owed to "Midland Funding Llc".

 

Original balance $656
Current balance $871
Date assigned Feb, 2013
Original lender Midland Funding Llc
Account holder Individual
Amount past due $871

Account descriptions   Consumer disputes this account information
Collection account

 

 

The Date assigned is also different than what the others are reporting.  Is this something that a Dispute will remove because of?

 

* You will see the dispute already showing there.  This is because of a company I hired to handle all of this for me who has since stopped responding to me.  I have no idea what they disputed here.

 


They did the same thing to me! I thought it was weird too. On credit karma for EQ it's under "accounts" type Debt Buyer Account (Factoring Company) with them being the creditor, and for TU they report it as a collection account with Chase as the OC. Can someone explain how that differs in regards to the impact?

Message 8 of 40
Anonymous
Not applicable

Re: Midland Funding as original Creditor?

I, for one, don't understand how that is even legal. To be reporting as the original creditor of an account that they are only collecting on behalf of another company for. It seems to me that it would be a violation of some sort of part of the FCRA. They factor into my Equifax as an "other" account instead of a collection. But like others had mentioned on TU and EX they list the correct original creditor. Can't be right...

Message 9 of 40
Anonymous
Not applicable

Re: Midland Funding as original Creditor?


@Anonymous wrote:

I, for one, don't understand how that is even legal. To be reporting as the original creditor of an account that they are only collecting on behalf of another company for. It seems to me that it would be a violation of some sort of part of the FCRA. They factor into my Equifax as an "other" account instead of a collection. But like others had mentioned on TU and EX they list the correct original creditor. Can't be right...


i know there has to be some malicious reason they do that, but i dont know what it is! They actually bought my debt from Chase, they're not just a collector for them. I just think it should be reported all one way or the other.

Message 10 of 40
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