06-19-2012 10:13 AM - edited 06-21-2012 10:08 AM
I emailed an exec to PFD a collection and was referred to a customer service specialist.
He said Midland doesn't do PFDs or GWs and and they have to wait the full seven years to remove an item.
My account is going to fall off in June 2014, so I'm in that special time frame that's been mentioned on these boards.
I know one lender I've been working with requires that collection to be paid, so I think I have to do it anyway.
I'm supposed to call Midland back Thursday to pay it because right now my debt is in "a hold pattern".
I can pay it in full. Any advice on where to go from here? Will paying it negatively affect my score?
UPDATE - I called back today (Thursday) to pay the collection, but was told to call back again on Monday because it was still in the "hold que". Weird. Anyone have an experience like this or have any idea what it means?
06-19-2012 02:55 PM
Are you planning on buying a house before 2014?. When was the date of first deliquency on original debt? Paying off the debt wont hurt your credit report, but a paid charge off is the same as a unpaid charge off as far as score goes. If it is a large amount and is being figured into your utilization, once paid you may see a few points because of decreased utilization. You are right, if you want to buy a house, it will need to be paid off before you will be approved. I know about midland, I paid a debt off about 2.5 years ago, they refuse to delete, or do PFD's. Best wishes!!!
06-21-2012 04:50 PM
We're trying to buy a home this summer, so it has to be done now. It's a collection, though, and not a charge-off. DOFD was June 2007. Thanks for your help!
I just wanted to offer my two cents if I may? I had a collections account with Midland for a T-Mobile early termination fee - i called them and talked to the person who was "assigned" to my account. I asked if I PIF would Midland be able to delete it of my credit report? She said yes with no hesitation - didn't know at the time I should have gotten it in writing. Anyway I paid and I called back just to make sure, and she said I'm all set and the account would be removed. A little over a month later it was removed from all three CB's and I got a letter from Midland confirming the deletion. It may just all depend on WHO you speak to and what mood they're in; some of them are on a power trip and some of them truly want to work with you. So, it's not highly impossible to get Midland to PFD, so keep trying and don't give up!