Midland and Reporting Rules

[Anonymous]

I seen someting about this somewhere in this forum but now can't find it.

I would like some advice about my particular situation.

I have a credit card debt that was sold to Midland Credit.

I know the debt is mine.

The Charge off date was 9/29/15.

The debt is $ 2,294.28.

Midland sent me a Form offering 3 payment options including 

40% off making the payment $ 1,396.59.but I have to do it by October 13th.

I'd like to pay the 40% off fee.

The Midland Credit Reporting stated practice is

Effective October 11, 2016 we have updated our credit reporting practices. As a result of these updates we will stop credit reporting on accounts that are both: Paid in Full or Paid in Full for less than the full balance and more than 2 years old based on time since the date of delinquency. 

Sounds good for me but it still is not a DELETION.

OR

Should I pay the full $ 2,294.28 over time

and if I do

will I ever get a DELETION

or

will I get the same if I had paid the 40% off payment?

Thank you in advance.

---

---

[medicgrrl]

I do believe that if you accept the settlement and the DOFD is greater than 2 years, they will delete the account.  This does not delete the OC's account, only Midlands.

[Ardecko]

I paid the 40% off offer on a Midland account on 9/26 for my DW. We received the letter stating that the account was settled and now has a zero balance a couple of days ago. Fingers crossed.

I expect it to take two end of months, but that's just a guess.

[Anonymous]

if they dont take it off, just challenge it with credit bureaus, then they usually take it off, worked in my case, even after it went to judgement, i paid it, got everything including public record off my report, now only if portfolio recovery was that easy to work with

[Ardecko]

---

@Ardecko wrote:
I paid the 40% off offer on a Midland account on 9/26 for my DW. We received the letter stating that the account was settled and now has a zero balance a couple of days ago. Fingers crossed.

I expect it to take two end of months, but that's just a guess.

---

I have not pulled for scores yet, but when I logged into DW's wallethub(TU source data, verified in trueidentity account), I got a notice that the Midland collection had been deleted.

Further: I did not speak to them at all for this account. It was older than 2 years, as specified on their website. I used the info from the letter they sent us to pay the 40% off and waited.