Pre-legal Notification

[Anonymous]

Hello, I received a Pre-legal Notification from Midland Credit Management regarding a $6046.60 One main debt. I have to respond by today or it states they may forward to an attorney. What's my best cross of action in this situation. Really would appreciate any feedback.

[Anonymous]

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@Anonymous wrote:
Hello, I received a Pre-legal Notification from Midland Credit Management regarding a $6046.60 One main debt. I have to respond by today or it states they may forward to an attorney. What's my best cross of action in this situation. Really would appreciate any feedback.

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Is the debt yours?

When was the date of first delinquency?

What is the Statue of Limitations in your State? 

Is Midland and One Main reporting on your credit reports?

Do you have other delinquencies and or derogatories?

[Anonymous]

The debt is mine.
September 2015
Texas
One main is the only one reporting
Only other things on my credit are 2 late payments and a $355 charge off

[Anonymous]

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@Anonymous wrote:
The debt is mine.
September 2015
Texas
One main is the only one reporting
Only other things on my credit are 2 late payments and a $355 charge off

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Midland will most likely be reporting soon as well. Surprised they are not already.

I'm not familiar with Texas law, hopefully Robert will chime in on this.

[RobertEG]

You can send a request for debt validation under the TX Finance Code, which will require the debt collector to respond within 30 days.

If their response does not include the requested validation, they will be placed under a cease collection bar, and must delete any credit reporting until such time as they do provide the requested validation.

Since they have not reported their collection, then deletion would not be an issue.

If the debt is acknowledged as valid, you might wish to attempt negotiation of a settlement with the condition that they not report to a CRA.

Sending a DV that imposes a cease collection bar will thereafter preclude their negotiation on the debt.