Midland

[FLAJenn]

Didn't see this posted at all about Midland, but I have a question. The boyfriend has a Midland account on his report showing like he has an open account with them. When I pull his report it shows the balance that is supposed to be in collections for an old CC on top of his normal 2 CC's as him using that as like a CC? So it shows him having a crazy high Utilization when he only has 2 CC's with a combined limit of $700 that he barley touches. Can I dispute that so it will be corrects to just a collection and not an actual account with terms? If I can would I do it directly with CA or CRA's?

[llecs]

Is he pulling from myFICO? Make sure FICO sees it as a revolving vs. a CA. There are some CMSs out there that mis-cue the account and factors CAs as a CC, but FICO may not be looking at it the same way. In very rare cases, and only have seen a couple on these forums, the myFICO report did indicate that a CA was scored as a revolving. If that is the case, then I wouldn't worry about the reporting just yet and focus on the removal via a DV-PFD combo.

[tammyjk]

Midland and a couple of others do this on purpose.  Its not just a matter of a simple error as it needs to be input as a totally different code.  It does effect your credit score just as described and not only that, they will keep reporting lates as well.  They will probably ask for a copy of the report which is what they did with me and I only gave them their reporting section.  Or you could dispute it or even both.  In my case they: changed the amount by 1 cent and then reported a different dofd, reported lates, reported as a revolving line of credit and the list goes on. 

Recently, I was able to purchase a home without paying them off or dealing with them.  My next step is to send them a fax letter detailing the class action suit and ask for removal.  Failing that, I am coming up on 7 years soon....

[goosedog]

MIDLAND and ASSET acceptance are the 2 worst companies to deal with. You get the runaround with them. There's a reason why asset acceptance was recently fined by the FTC 2.5 million for deceptive collection practices, along with its other sister company MIDLAND who was recently sued in CALIFORNIA for 4.5 million.