I received the following response to my complaint. They basically admit to refusing to validate my debt. I did not request validation within the 30 day time frame, but I am in Texas and according to Texas Financial Code 392 I can ask for validation at any time and the must respond within 30 days. They do show that I have paid them $1200 (never brought the charge-off current so no re-aging), but only state the original balance and today's balance. How can I be expected to pay this without knowing how they have come up with these totals. If the original balance was they say and the current balance is what the say then if you take out my $1200 I paid it means they have added almost $1800 in fees. How should I proceed?
Midland Credit Management. Inc (Midland Credit) became the servicer of the above-referenced account from Sagres Company on November 24, 2004. Information provided at the time of acquisition shows that the account was opened in the name of XXXX under the last four digits of the social security number ending in XXXX as a Citibank MasterCard account number xxxxxxxxxxxxXXXX.
Data provided shows that the card was charged-off as an unpaid delinquent-debt on November 13, 2002. The balance owed at the time of acquisition was $2,658.45. Interest on the account continues to accrue and the total amount now due is $3250.66.
Mr. XXXX complains that his requests for validation have been ignored. Pursuant to our standard business practices, on November 29, 2004, Midland Credit mailed our first letter advising Mr. XXXX of the role of Midland Credit as the servicer of the account and of his specific rights under the law. As you know, the receipt of this letter established a 30-day period for the consumer to exercise those rights. The law provides that with the expiration of the 30-day period the debt is assumed to be valid. Mr. XXXX failed to request verification of the account during the 30-day period.
Mr. XXXX began making payments on this account in December 2005. He made 12 payments of $l00. In his last correspondence to Midland Credit he asked to settle the balance in return for deleting the trade line. Midland Credit’s business records indicate this account is reporting as required.
If Mr. XXXX wishes to settle this balance, he may contact an account manager at 800-825-8131 However once Mr. XXXX settles the account, Midland Credit is required to report this accurately to the credit bureaus as a “Paid Collections Account.”
Sincerely,
Midland Credit Management Inc
Ann Stipica
Paralegal Compliance
