Update:Midland 40%

[Anonymous]

Ok midland responded with 40% for account to be settled. I need suggestion. If i settle and pay what they are asking, will they remove it from report. I dont see anything on the invoice which states 'deletion of record upon payment' or something along those lines.
Should i try another pfd 30 cents on the dollar?
Its past soland entry is supposed to be off by end of 2016..
Also, i got the fnbo card as well and i will be using it and making full payment bfore statement balance.
Lastly, according ck i gained 89 points because pf bofa secured card.. Balance 57 total line of credit 500...

[Anonymous]

Bump

[Momof5]

I've never had to deal with Midland before so hopefully someone with experience can chime in.

Here is the risk you have.....that CA is over 5 yrs old.  If you settle the debt without a PFD, it will report "paid collection, settled for less than full amount." and the updated date from the collection will appear new to FICO...instant loss of 50 - 100 points.  The ONLY way paying this will benefit your score is if Midland deletes.  From what I have read, they are a bunch of hard arses that are unlikely to delete.

If the collection amt is small, I would leave it and let it age off.  Just my humble opinion.

[Anonymous]

I will keep trying to get pfd, lets see What happens..
Last thing i would want is for me points to take hit.
Thanks for you logical input

[Anonymous]

---

@Momof5 wrote:

I've never had to deal with Midland before so hopefully someone with experience can chime in.

Here is the risk you have.....that CA is over 5 yrs old.  If you settle the debt without a PFD, it will report "paid collection, settled for less than full amount." and the updated date from the collection will appear new to FICO...instant loss of 50 - 100 points.  The ONLY way paying this will benefit your score is if Midland deletes.  From what I have read, they are a bunch of hard arses that are unlikely to delete.

If the collection amt is small, I would leave it and let it age off.  Just my humble opinion.

---

I can almost gaurantee that midland is updating every month if he is in negotiations with them. It what they "do".

[gdale6]

---

@Anonymous wrote:

---

@Momof5 wrote:

I've never had to deal with Midland before so hopefully someone with experience can chime in.

Here is the risk you have.....that CA is over 5 yrs old.  If you settle the debt without a PFD, it will report "paid collection, settled for less than full amount." and the updated date from the collection will appear new to FICO...instant loss of 50 - 100 points.  The ONLY way paying this will benefit your score is if Midland deletes.  From what I have read, they are a bunch of hard arses that are unlikely to delete.

If the collection amt is small, I would leave it and let it age off.  Just my humble opinion.

---

I can almost gaurantee that midland is updating every month if he is in negotiations with them. It what they "do".

---

And if this is true then the OP would want to settle it ASAP to stop the updating if they cannot get a PFD.

[RussianPassion]

I have not been partially successful with PFDing Midland... I had 2 accounts on my CR and when I call, I say these exact words...

"... I am willing to pay off the debt and I am asking you to remove the reporting from all 3 CRA... I know that by law you are required to report ONLY the CORRECT information. I am NOT asking you to report anything INCORRECTLY. I am simply asking you NOT to report. You are NOT reqired to report if you choose to not report it."

It worked 1 out of the 2 times. 

My second TL is for T-Mobile which I am fighting in a different way.