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Midland is reporting 120+days late

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Regular Contributor

Re: Midland is reporting 120+days late

Sorry to jump into this, but I think I have the same issue with Midland. When I look at my EQ on both their page and MyFICO, it shows "OK" under the monthly statuses all the way back to DOFD, but the last month says collection 120+ days late. To me, it appears as if they are saying I've been making monthly payments (hence the "OK" under the month block) until the previous month, where it indications a collection effort. I would think this would have an impact on the score as showing a recent collection activity. Am I wrong in this? If they are wrong, I would like a dispute template as well. They are listed the same on both accounts Midland has against me.

Gardening as of: 23 JUL 2017 / FICO 8 (As of 14 Jul 2017): EQ: 663, TU: 723, EX: 680

Message 11 of 16
Moderator Emeritus

Re: Midland is reporting 120+days late

I've noticed a trend of this happening with Midland as of late.  I'm not sure how to take it.  First, where are you getting your reports from?  Sometimes they are a little different from the ones you get from the CRAs.  

 

I don't know if this is a new manipulation attempt on Midland's part, or a system error, or whatever.  But they way they are doing it, makes the collection appear newer and has been causing a decrease in scores.

 

I'll need to follow this a little more closely, and maybe guiness will help me come up with something.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 12 of 16
Regular Contributor

Re: Midland is reporting 120+days late

 

I'm pretty sure this is the same issue the OP is talking about..... These are from MyFICO and EQ. I had asked the same question before but got differing opinions as to what this reporting actually meant. To me, it indicates I made payments all the way through May 2013. Even the FICO report shows 90+ Days late as of May 2013. That idicates to me that Midland is reporting a status that is different than what the OC reported at the time the debt was bought. It appears to me they are keeping the account current month to month except the last month reporting. I don't know if they are allowed to do this or not. Like I said....I received differing opinions when I asked before.

Gardening as of: 23 JUL 2017 / FICO 8 (As of 14 Jul 2017): EQ: 663, TU: 723, EX: 680

Message 13 of 16
Moderator Emeritus

Re: Midland is reporting 120+days late

As you can see, they are listing themselves as a Factoring Company.  If they were listing themselves as a CA, they would not be able to input this information.  Some may disagree with me, but I think this is an exploitation by Midland and is incorrect posting.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 14 of 16
Established Contributor

Re: Midland is reporting 120+days late


Shogun wrote:

As you can see, they are listing themselves as a Factoring Company.  If they were listing themselves as a CA, they would not be able to input this information.  Some may disagree with me, but I think this is an exploitation by Midland and is incorrect posting.


Can you explain what the difference is between listing themselves as a factoring company vs a CA? My reports are pretty much the same as germese1975's reports.


Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Current Score (9/3/15): Wally TU 639 | Amex EX 628 | DCU EQ 639
Goals: Homeowner as of 9/27/2013. Last app 8/1/15. TU-5; EX-16; EQ-13. Aiming for ZERO inqs.
Message 15 of 16
Moderator Emeritus

Re: Midland is reporting 120+days late

There's nothing against listing themselves as a Factoring Agent per se.   However it does give them the ability to post as an OC does.  If they were to post as a CA which they are supposed to, then there is not even a place to put monthly payments or derogs.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 16 of 16