Midland Help Please!

[FA21]

I have some financial trouble in 2013 and for that reason I stopped paying my CCs. (Wife in a car accident and lost her job as a result because of her injuries).  At the time I had the following CCs:

 Capital One (not in my credit report anymore)

SYNCB/Walmart Charge off January 2014 ($300)

Barclays Charge off February 2014 ($1900)

First National Credit Balance Charge off January 2014 ($448)

Since the balances were low, I tried to work out with the CCs at the time but they didn’t accepted my monthly payments (I couldn’t pay more than a few dollars per month).

My credit report showed that Midland Funding bought all these charge off accounts. Below is what is listed today at my Credit Report:

Midland Opened August 31, 2015 (Barclays)

Midland Opened August 19, 2015 (Capital One)

Midland Opened Nov 26, 2014 (original creditor GE Capital Retail Bank (Walmart?))

Portfolio Recovery Opened Jun 18, 2015 (Capital One)

I requested an investigation to the three CB last month for the three Midland Accounts. The CBs just responded telling me that the accounts are mine but without providing any original creditor information.  I haven’t done anything with Portfolio Recovery yet.  Interesting, I don’t have any Capital One account listed in my credit report, but Midland is listing Capital One as the original creditor as well as Portfolio (Maybe they bought the same debt?).  What should I do next?  Thanks..

[medicgrrl]

You'll probably receive more advice if you ask the mod's to move this to the rebuilding your credit forum.

[FA21]

Thanks

[medicgrrl]

I think Midland has some new internal rules regarding deleting collections after they're paid if the DOFD is over 2 years old.  I would research that.  Also, if you only had 1 Cap 1 account then it appears that Portfolio Recovery may have sold the collection to Midland.  Which would be good for you.  When's the last time Portfolio reported to the CRA's?

[FA21]

They are still reporting it

[medicgrrl]

Are you sure you only had 1 Cap 1 account?

[Anonymous]

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@FA21 wrote:

They are still reporting it

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They will only remove the account if you have paid them and it has been more than 2 years since the DoFD, if they accounts that are charged off are unpaid then Midland will continue reporting them

[RobertEG]

Was your letter to the CRAs a request for debt validation, or did it assert a specific inaccuracy in their credit reporting?

If a DV request, it should be sent directly to the debt collector, and not to the CRA.

It appears, since it included a request for the name of the original creditor, that it was a DV request.

[MrTom]

As others said her, Midland does have a sweet PFD program.  If the debt is more then  2 years old from DOFD, they will delte if PIF or setteled for less. I wish other Collection companies and debt buyers were like Midland.

As for your disputes with the CBs, everything comes down to a 2 digit code. All they do is verify the information on your report matches their records.  IT doesn't matter if your dispute is 50 pages long they still give it a 2 digit code that has nothing to do with wha to your asking for.  You would need to contact Midland fr orgional creditor information. Usually Midland will mail this to you after a CB dispute.  What is nice is they give you a chain of title of the debt in this letter.  This will help if a old collection company or debt buyer is on your credit report still.  Remember they are quick to report, and are quick to forget they report something when they resell the det or get the account yanked from them.

[A1Credit]

Midland is very easy to work with...well they were for me and their new policy is wonderful for rebuilders.  I wish all of my collections were with them.  I would settle the debt and move on.