topic Re: Midland Collections in Rebuilding Your Credit

Midland Collections

FMC — Sat, 23 Dec 2023 18:04:35 GMT

Midland statement says they can no longer sue or report accounts to credit bureau's anymore due to accounts age. Any reason I should continue to pay them anymore?

Re: Midland Collections

GZG — Sat, 23 Dec 2023 19:31:37 GMT

@FMC wrote:
Midland statement says they can no longer sue or report accounts to credit bureau's anymore due to accounts age. Any reason I should continue to pay them anymore?

the fact that you are currently paying might reset their ability to sue, regardless of that disclaimer at the bottom, you would definitely need to confirm with a lawyer about that

you also still owe the money, that won't ever change

that can't report it if it's over 7 years old, but if they sue you and get a judgement, they can usually get renewals of a judgement

are you in a position to settle the debt and be done with it forever? or is it far too much for you to pay off currently?

Re: Midland Collections

settleddifferences — Wed, 27 Dec 2023 14:43:17 GMT

I am assuming that you must be in Texas. If you are in Texas, and the debt is four years old or more, then the SoL for them to sue you in court has expired. Should you continue paying them? Well, if you don't want your credit scores tanking more than they already have, yes. They can still report the debt to any credit reporting agency as per the usual, they still have all rights and avenues of reporting and collecting EXCEPT for suing you for the debt in question.

Re: Midland Collections

coldworld — Thu, 28 Dec 2023 18:43:21 GMT

@FMC wrote:
Midland statement says they can no longer sue or report accounts to credit bureau's anymore due to accounts age. Any reason I should continue to pay them anymore?

If the debt is outside of the SoL for reporting and litigation, then the only reason to continue to pay them is for ethical/moral reasons. US law does not put a SoL on the collection of debts, which is to say they can ask you to repay from now until the end of time even though they may not be able to sue you or report it to CRAs.