Midland isn't licensed in Louisiana, what EXACTLY does that mean to me?

[creditgirl]

How will this affect me in my dispute with them regarding an account they've listed on my credit report? Does it mean they have to delete the account? What should I do? I am calling my Sec of State's office tomorrow. The website says Midland's license was revoked in Louisiana.

Thanks for helping me sort this out!

creditgirl

[Schoolbuskid]

i believe if your state requires CA's to be licensed, and midland is not licensed then they are not allowed to report! You could report them or mention it when you call tomorrow!

[guiness56]

It means that they legally can not collect a debt in your state.  If they attempt to after a revocation, they can be fined a hefty amount by the state. It also means they can report the debt.

File a complaint with the BBB, your states AG and the AG office of the state Midlands address is located.

I would send them a DV letter, making sure the paragraph about them being legally licensed in your state is included.

Message Edited by guiness56 on 08-17-2008 06:23 PM

[creditgirl]

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guiness56 wrote:

It means that they legally can not collect a debt in your state.  If they attempt to after a revocation, they can be fined a hefty amount by the state. It also means they can report the debt.

File a complaint with the BBB, your states AG and the AG office of the state Midlands address is located.

I would send them a DV letter, making sure the paragraph about them being legally licensed in your state is included.

Message Edited by guiness56 on 08-17-2008 06:23 PM

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Okay, I will DV them, but I'm wondering if they will hit me with the "outside the 30 day period" response.  If they do, I will file a complaint with all of the above. Hopefully, that will get this one taken care of since I can't seem to get it done any other way.

These guys are something! They are reporting the account as an installment account on one report (and they've hit me with 18, 90 day lates!) and an Open account on another. I will be SO glad to be rid of these people!!

[guiness56]

They can try to but as they are not licensed in your state they can not collect or report.  They are in violation of your states laws.

They also can not report it as an open account.  Any account that goes to collections is a closed account.  This is a violation of the FCRA.

Send the DV letter. 

File complaints against them.

[Anonymous]

I have a similiar situation in MS.  MS does not require collection agencies to be "licensed", in fact there are no statutes pertaining specifically to "collection agencies".  However, MS does have statutes that requires all business to be licensed by the Secretary of State, if they do business in MS.

Could I file a complaint with Secretary of State, Attorney General and BBB even though we don't have statutes that pertain to "Collection Agencies"

[guiness56]

I am not too sure about that.  I do know that Mississippi statutes say that when the SOL has expired, so does the debt.

Do you know when, if this is an accurate debt, that a last payment was made?

[Anonymous]

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guiness56 wrote:

I am not too sure about that.  I do know that Mississippi statutes say that when the SOL has expired, so does the debt.

Do you know when, if this is an accurate debt, that a last payment was made?

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Guiness,

If debt expires when SOL expires can CA still report?  This is a debt that was PIF 4/2006.

[Anonymous]

Guiness:

I posted some of what is going on with DDs CRs here:

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=24129

[guiness56]

Since you paid the debt in full this would not apply to you.