Valued Member
corysti
Posts: 42
Registered: ‎04-03-2009
Re: MCM getting to settle.
Sorry I'm not following you...I'm quite new to this. I have to have something by the 7th...apparently that's the last day unitl it goes to an attorney.

Starting Score: 475
Current Score: 517
Goal Score: 650


Take the FICO Fitness Challenge
Valued Contributor
GoodCredBen
Posts: 1,522
Registered: ‎10-25-2011
Re: MCM getting to settle.

I have sent 1 GW letter to them every day for the past month almost (email and snail mail) and still have no outcome... lol.... 

Starting Score: 512 10/2011 Current Score: EQ: 689 | TU: 667 | EX: 661
In My Wallet: SFCU Visa: $10,000 | UECU Visa: $5000 | WellsFargo: $3900 | Cap1 QS: $3500 | Cap1 QS: $3000 | Cap1 AU: $1750
Gardening Since: 6/1/2014
May the debt elimination begin! 9680/27150
Valued Member
corysti
Posts: 42
Registered: ‎04-03-2009
Re: MCM getting to settle.
So would u suggest me to wait and see if they actually give me a summons?

Starting Score: 475
Current Score: 517
Goal Score: 650


Take the FICO Fitness Challenge
Valued Contributor
GoodCredBen
Posts: 1,522
Registered: ‎10-25-2011
Re: MCM getting to settle.

No, i would send them a DV (if you havent already) CMRRR and state to respond by mail only and then do a PFD if they come back saying the debt has been validated. 

Starting Score: 512 10/2011 Current Score: EQ: 689 | TU: 667 | EX: 661
In My Wallet: SFCU Visa: $10,000 | UECU Visa: $5000 | WellsFargo: $3900 | Cap1 QS: $3500 | Cap1 QS: $3000 | Cap1 AU: $1750
Gardening Since: 6/1/2014
May the debt elimination begin! 9680/27150
New Contributor
Way
Posts: 50
Registered: ‎01-24-2012
Re: MCM getting to settle.

My first offer from Midland for immediate pay off was about 90% of the total.  I was able to get the guy to 75% on the first call and he wouldn't budge from there.  I had it faxed over in writing within 5 mins and paid it immediately.  I don't know if they regularly reduce more than that, but I know that you can get 25% knocked off without a lot of effort.

 

I had zero luck doing a PFD with Midland and so far I've had no luck with GW after the fact, but I'm still trying to get them deleted.

Experian - 728 | Transunion - 708 | Equifax - 701

NFCU cRewards - $22,000 | NCFU MC - $22,000 | Lowes - $10,000 | DCU Plat Visa - $7,500 | Navcheck - $7,500 | Chase Freedom - $6,000 | Ashley Furniture - $4,800 | Discover IT - $4,500 | Amex BCP - $1,000 | Cap1 QS - $850 | Cap 1 Plat - $700
Frequent Contributor
Chrisla2077
Posts: 309
Registered: ‎04-26-2010
Re: MCM getting to settle.

If you go to their website and enter the info..they most often offer you a 60% settlement for a one time payment or an 80% settlement for 6 payments.


Starting Score: EQ Fico: 506 12/14/2011 Experian FAKO: 496 Trans FAKO 478
Current Score: EQ FICO: 552 6/1/2014 Experian FAKO: 604 Trans FAKO 551 06/01/2041
Goal Score: 750


Take the FICO Fitness Challenge
Valued Member
corysti
Posts: 42
Registered: ‎04-03-2009
Re: MCM getting to settle.
[ Edited ]

So I thought i would post an update to my situation. I spent roughly a month trying to get be able to talk to the guy that was holding my account and finally I got tired of trying and just quit messing with it. Yesterday I recieved a letter from a lawyer in Arkansas that is taking care of this debt for midland. It wasn't a summons to court as far as I can tell from the letter. It basically told me if you like to disput this debt you have 30 days to mail them a letter asking for validation it also says at the bottom to call if you would like discuss payment options. I was going to mail them anyway to try and buy more time but should I mail them a letter asking about the payment options to the account or just call?

 

Just another update haha! I went ahead and called and they are a thousand times nicer than midland. They said I could pay 500 settlement or pay 65 a month until paid off. They said I have 30 days to call and see which one they wanted me to do.


Starting Score: 475
Current Score: 517
Goal Score: 650


Take the FICO Fitness Challenge
Frequent Contributor
js0319
Posts: 309
Registered: ‎02-27-2012
Re: MCM getting to settle.

It kind of sounds like you're back where you started with the thread. I would suggest paying the settlement in full, try not to make payments whenever possible.


Starting Score: EQ FICO 544 (2/21/12)
Current Score: EQ FICO 670 (7/10/2013) TU FICO 693 (4/28/2014) USAA FAKO's: EQ 643 EX 685 TU 690 (7/5/2014)
Goal Score: EQ 700

Wallet: Capital One Quicksilver One MasterCard: $500 I Texell FCU Platinum Bonus Visa: $5000 I American Express PRG: NPSL I NFCU Cash Rewards Visa Signature: $5000 I NFCU nRewards Visa: $8000