Rebuilding Your Credit

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I am pretty new here so I am still trying to get the hang of this credit rebuilding thing. I have a collections account with Midland from 2010 for about $800. I tried contacting them multiple times but they were not interested in settling. I will pay them but I want to get this removed from my credit report because I need to refinance my mortgage as soon as possible. Has anyone had any postive experience with them with PFD? or GW? How will my credit score be affected if I settle versus pay in full? 

[TravisD]

For what its worth I disputed a Midland collection from 2009 about two months ago and they never responded so it was taken off. Edited

[Mishwatson]

I just sent 3 DVs to midland ...   (they received yesterday) Mine fall off in 2014 so we will see when/if they respond. Ill dispute if they don't respond. I'm curious if they are supposed to change status to disputed on CR..  

[doc101]

I have had some success with Midland . I had 2 accounts in collections with them but never contacted them. I received letters from them which gave options to either pay in full or settle for 50% of the full balance. The smaller balance was paid in full and I settled the other account. They updated my reports to reflect the changes as well as a written agreement from them. A small victory I suppose but every little step towards a higher credit rating is worth it.

[ChuckG]

Midland had a legit charge off from a CC of mine for $525.

Once they got ahold of me the interest had built to $700. I tried numerous times to PFD and was rejected every time. Ultimately I paid their "settlement offer" of $605.

The collection reports as paid, and the original credit line reports as charged off. I'm afraid I'm stuck with both tradelines for the next 5 years.