topic Re: Midland is so funny... Should I settle or wait? in Rebuilding Your Credit

Midland is so funny... Should I settle or wait?

Ravensfan2001 — Sun, 17 Mar 2013 14:22:46 GMT

I've been putting off Midland because they have the highest balance owed - $1067.53 for an old T-Mobile account (from 2007). I've received several letters to settle, but I haven't responded to them at all because I don't have the funds to pay them yet. They just started sending the letters in Spanish. LOL! I don't understand what they are offering now. I do plan to resolve this account this year, but I don't agree with the balance. And from what I've read on this forum, they are a tough cookie to crack!

*edit: I just got off the phone with T-Mobile. The balance is correct. Darn.

So from what was previously mailed to me, Midland offered to settle for $640.52. T-Mobile said they can't settle, but once I PIF, they can pull the account from Midland. I have the option of dividing payments with T-Mobile. I want to save money, and I want the collection off my account. I was thinking of maybe calling T-Mobile back in a few months and paying them in 3-4 monthly payments. My other option is to settle with Midland, then GW the heck out of them. Either way, I wouldn't be able to pay now (I'm trying to settle a judgment). Suggestions?

Re: Midland is so funny... Should I settle or wait?

Anonymous — Sun, 17 Mar 2013 15:13:32 GMT

I would work with T-Mobile over Midland any day. Did T-Mobile give you a time limit?

Re: Midland is so funny... Should I settle or wait?

Ravensfan2001 — Sun, 17 Mar 2013 15:37:11 GMT

There was no mention of a time limit. I just figure that since it's been 6 years since I defaulted, and T-Mobile was willing to accept the payment today, that a few more months wouldn't change anything. Of course, I'm just assuming.

Re: Midland is so funny... Should I settle or wait?

Anonymous — Sun, 17 Mar 2013 15:39:26 GMT

You might want to call them back. They could easily sell the debt and you would be stuck.

Maybe work out something for now.

Re: Midland is so funny... Should I settle or wait?

Ravensfan2001 — Sun, 17 Mar 2013 16:28:52 GMT

Can T-Mobile sell it to someone else even if Midland is claiming it as well?

Also, I noticed that Midland is reporting that they are receiving payments from me, which is false. I purchased SW today, and it shows that my most recent late was 5 months ago. Midland reported in October that I was 120 days late. Can they do this?

Re: Midland is so funny... Should I settle or wait?

Anonymous — Sun, 17 Mar 2013 16:39:20 GMT

If T-Mobile sold it Midland would cease collection activity unless they bought it.

Where are you getting your report? Sometimes they are just poorly formatted and you would need to go the CRA directly to get your report to see what is actually happening.

No, Midland cannot report lates but they can reflect the account status given to them by the OC. You cannot be late with a CA.

If they are reporting you made a payment that is a violation.

I would get my actual report to look at it.

Re: Midland is so funny... Should I settle or wait?

Ravensfan2001 — Sun, 17 Mar 2013 16:51:08 GMT

I have a copy of my Equifax report from 2/23/13 where it says that since 09/2011, pays as agreed, except 10/2012, it says collection account. Then starting 11/2012, it's pays as agreed again.

ScoreWatch (purchased today) has almost the exact same thing, except it's reported as 120 days late 10/2012.

What do I do?

Re: Midland is so funny... Should I settle or wait?

Anonymous — Sun, 17 Mar 2013 17:29:21 GMT

Cell phones typically do not report unless you defaulted. So how you could possibly have any pays as agreed is beyond me.

Is the EQ report from annualcreditreport.com or from something EQ sells?

Re: Midland is so funny... Should I settle or wait?

Ravensfan2001 — Sun, 17 Mar 2013 17:52:07 GMT

I got a free report from the Equifax site because I was declined credit last month.

Can I dispute that Midland is reporting inaccurately?

Re: Midland is so funny... Should I settle or wait?

Anonymous — Sun, 17 Mar 2013 18:01:44 GMT

Can you post a picture of the TL? Or just cut and paste it?

Re: Midland is so funny... Should I settle or wait?

RobertEG — Sun, 17 Mar 2013 18:05:29 GMT

T-Mobile said they can't settle, but once I PIF, they can pull the account from Midland. I have the option of dividing payments with T-Mobile.

________________________________

Can you explain their offer? They cant settle, but will accept payments?

Did they state that "pulling the account from Midland" would result in deletion of the collection?

Re: Midland is so funny... Should I settle or wait?

Ravensfan2001 — Sun, 17 Mar 2013 21:53:05 GMT

Guiness, I will paste the pic when I get home.

RobertEG, I had asked if I could settle the account with them for $600. The kind CSR said they can't, but can take a payment now, then discuss a payment plan. I said I just want to get rid of this debt and Midland gave me a settlement offer. He said to settle with them if that's what's best for me. When he said they would pull the account from Midland, I didn't ask any questions. This is my first time calling any creditor to resolve a collection account. I think I was a little embarrassed that he told me no. So I didn't take the conversation any further and didn't clarify if Midland would be deleted from my credit reports. I will call back and find out.

Re: Midland is so funny... Should I settle or wait?

Anonymous — Sun, 17 Mar 2013 22:09:08 GMT

odd that midland would just be collecting for tmobile in this instance, and not have purchased the debt outright (after all, thats what "factoring companies" do). id double-triple check that midland doesnt own the debt.

Re: Midland is so funny... Should I settle or wait?

Anonymous — Sun, 17 Mar 2013 22:57:52 GMT

Whether Midland is lists themselves as a factoring company or not they are still a CA. True factoring companies do not purchase bad debt.

Re: Midland is so funny... Should I settle or wait?

Ravensfan2001 — Mon, 18 Mar 2013 00:22:06 GMT

So do I still need to verify who owns the debt?

And guiness, I can't paste the pic. I'm a little computer-illiterate when it comes to this stuff. But the payment history is a table, and the boxes are green where it means "pays as agreed." Then for 10/2012, it's purple and has "CA" in the box. It's seems pretty clear on my Equifax report that Midland is reporting that I'm making payments. As a collection account that payments are not being made on, shouldn't those boxes all have "CA" in them?

Re: Midland is so funny... Should I settle or wait?

Ravensfan2001 — Mon, 18 Mar 2013 01:14:35 GMT

Another question...

The Midland account is scheduled to drop from my credit report 08/2015. I know it can vary from each CRA. If I settle this account for less with Midland rather than PIF with T-Mobile, how bad will it hurt when I apply for a mortgage, let's say, 05/2014? Of course, I'd rather have it deleted. But I'd rather save the funds I have right now to pay of some judgments. If I pay Midland, I plan to GW, but who knows what will happen.

*edit: Just got off the phone with T-Mobile again. This time, the CSR said that I have to PIF in 1 payment. After receiving full payment, they will contact Midland and account should be removed from my credit report in 3 days. It's a $400 difference if I pay directly to T-Mobile. ayyyyyyyy! I don't know what to do. I guess I'll wait to hear about my judgments first (I asked to settle a total of about $1500), and then decide. I let T-Mobile know that I wasn't ready to pay yet, anyway. I was just getting information.

Re: Midland is so funny... Should I settle or wait?

Anonymous — Mon, 18 Mar 2013 01:58:52 GMT

It is probably the OC TL mixed in with Midlands. It happens on commercial credit reports.

Re: Midland is so funny... Should I settle or wait?

SLR72689 — Tue, 09 Apr 2013 18:25:31 GMT

I'm in the same situation.. T-mobile's executive customer relations office told me once the debt is sold to Midland, they cannot pull it back or take payments. So becareful!