Posts: 14,062
Registered: ‎04-15-2011
Re: BBB Complaint w/ Midland's "Factoring" Antics

I'm not a lawyer, just have done some digging on my own.  A Factoring Agency buys debts that are in good standing to create a positive cash flow for the original creditor. In my case they bought a 5 year old CO and re-aged it and put themselves as the CO.  When I contacted them on it, they said they can list as the OC and the DOFD of the original creditor was not their responsibility since they were now the owner of the debt.  

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!