RecoveringMyLife wrote:
I am in a similar manner... similar in that Midland is attacking my credit reports in all sorts of ways, supposedly on behalf of Aspire, which seems to have no contact information whatsoever! I have been asking about ways to deal with this. Not many people have responded directly to the threads I have posted, but there are MANY other threads about Midland where people have offered up advice. I am trying to glean from those responses how to handle it. From what I gather, and re: your situation, Midland has 30, some say 35 days, (I am not so clear on this) to verify this account.
They have 30 days, however they have the FULL 30 days to respond. Some say allow 35 for mailing time. If they mail you validation on day 30, they are within their time allowed.
If they do not, they have to delete it from your CR. I do not know if a deletion will mean the debt. is cancelled since there is a statute of limitations in which time they can sue. You have to find out what the SOL is in your state.
If they do not validate, it means they have to remove from your CR and can not sell to another CA, however they can send back to the OC and tell them that it could not be validated. It doesn't cancel the debt. But if they can't validate, they have little chance of winning in court because the things asked for in validation is same things a judge wants to see for evidence to prove the debt is yours.
My understanding is that it starts on the day of your first deliquency with the original creditor, Aspire in your case. If that time has passed, Midland cannot legitamately sue you and it is a matter of waiting until the account falls off your report, which can take 7 years or them not validating it in 30-35 days.
CRTP(credit reporting time period) goes by the DOFD. This is 7-7.5 years and is how long it remains on your CR. SOL goes by DOLA and can be reset in certain circumstances. That is why it is important to know your SOL. They can still sue you, but when you go to court and let the judge now, they will be sent packing. DOFD does not get reset and yes it is set by the OC.
Do a search here for Midland. It is how I got most of this information. Hopefully, others will reply as well and let you know if my info is correct and also give you more information. I am still trying to decide which is the best course of action myself. But, you do not care if Midland's lawyers have not yet verified the information. You just hope they can't do it within 35 days! Hope this helps.
Verify and Validation is seperate. If they verify, that shows you no proof, validation does. You want validation not verification.
Message Edited by RecoveringMyLife on
02-26-2008 04:47 AM
