Midland-Negotiation ...help

[aldex]

I need some advise. I’ve been reading through the forum and tried to do some research on Midland. From what is sounds like, they are pretty difficult to deal with. I currently have 5 accounts with them totally about $13k based on their  numbers.

If I am pass the 30 day mark, by what seems like at least a year now by the marks they have on my CR, should I still request a DV?

If I settle, how much should I offer. I know many will say low ball and go with about 25% because they paid pennies for the debt. Would you do 25% of the total requested or calculate based on what they paid and triple or quadruple that amount?

I finally have the opportunity to start cleaning my credit up, and I’ve made a little progress. I’m just trying to keep the momentum even if I can’t afford much.

[notfancy]

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@aldex wrote:

I need some advise. I’ve been reading through the forum and tried to do some research on Midland. From what is sounds like, they are pretty difficult to deal with. I currently have 5 accounts with them totally about $13k based on their  numbers.

If I am pass the 30 day mark, by what seems like at least a year now by the marks they have on my CR, should I still request a DV?

If I settle, how much should I offer. I know many will say low ball and go with about 25% because they paid pennies for the debt. Would you do 25% of the total requested or calculate based on what they paid and triple or quadruple that amount?

I finally have the opportunity to start cleaning my credit up, and I’ve made a little progress. I’m just trying to keep the momentum even if I can’t afford much.

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You can attempt to send them a DV for each debt listed on your credit report if you don't know what they are.

If you offer to settle you need to make an offer per account, and make sure you have their agreement to that amount in writing. So if they say you owe $1000 on Bill A you can start by offering them  $200. The older they are, the less they are likely to take per account. Try to get them to mark the accounts as paid in full, not settled for less than the full amount. You're unlikely to get them to settle for a percentage of the debt originally owed, or any of that. They'll want the settlement on the total amount they are billing you for.

Sadly you most likely won't get anywhere trying to offer a Pay for Delete where they agree to remove the entire account from your credit report once you pay them, but it does not hurt to try.

Once you do pay them, make sure you send in a separate payment for EACH account with their account or reference number listed. Do not send a lump payment to cover all of them.

Good luck to you.

[queen_britt2003]

Hi!  From my experience with Midland, the lowest they were willing to go was 60% of the balance due.  In turn they marked it paid in full on my credit report. I'm in the process now of GW them into removal.

[aldex]

How old were your accounts?

[queen_britt2003]

Account was from 2008 with TMobile.  I just did the settlement this month and this is the lowest the person was willing to go.

[twisted2ru]

I just dealt with midland yesterday....... They settled with me for 50% on a $1100 debit yesterday and marked it as paid in full, I tried to squeeze for more, But they didn't want to deal.

I have another debit with them for $500 that has fallen off years ago. I told them I would give them $200 and they mark it as paid in full, They said NO. LOL. They said $250 was the lowest they would go