Has anyone ever known Midland accepting a PFD?

[Anonymous]

i have a midland account that should be falling off in a couple of years.....it's past SOL & the only thing I hear from Midland is that they will accept a smaller amount than what they say i owe.

i have been disputing this account & don't think it's mine.....and even though the account has a DOLA from either 03 or 04......it's really hurting my chances of getting any new credit.

has anyone heard of midland accepting a PFD?  i would pay them for half of what they are asking for just to get this off of my credit.  i would think they would take it, otherwise they would not get paid at all since it's beyond SOL..

since the account is so old i don't think it would help my score that much, but i think CC would like to not see it on there....any thoughts?

thanks!

[Anonymous]

I've never known of them to accept.

You say you don't think this is your account. Have you DV'd? Have you contacted the OC? Have you filed complaints?

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molly73 wrote:

since the account is so old i don't think it would help my score that much, but i think CC would like to not see it on there....any thoughts?

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If it is your only collection or is updating/reporting every month or recently has, then it might help your score more than you think to remove it.

[cobra19]

From my experiences with them, Midland will not do a PFD. However, if you setle the account, and then dispute it as "incomplete or inaccurate information", they will delete. My sister had this happen twiice with Midland.  One debt was in the neighborhood of $500 and the other about $250.

Good luck.

[Anonymous]

Just make sure you get it in writing from Midland.  I have found them to be pretty scummy.  I was attempting to negotiate a settlement with them a couple years ago, before I was educated about such things, and they just lied, and lied.

[Anonymous]

thanks everyone for the info!

if i do settle it, it will show as being paid right?

will that look that much better on my report then having it still opened & them trying to collect?  will CC be ok with it being settled then being paid in full?

if i do settle, will that reset my 7 years?

if i pay it off in 3 payments..will that reset my 7 years?

what are the chances they would not verify after it being settles....that sounds almost too good to be true!

I am just worried that if i pay for this account, then it will not help my credit at all.

Message Edited by molly73 on 03-18-2009 07:01 PM

[Anonymous]

Hm, I just asked if I should PFD in another thread. Now I'm unsure because it's Midland. I have DV'd with no response and I sent a copy of my DV letter etc to the credit bureaus that are reporting. Equifax "verified" it was mine. I don't know how because they sent no proof, just a letter stating it was found to be mine. Anyhow, the amount owed is minimal and could be paid in full but if they won't delete will my score change if it is paid? I'm scared to PFD now that I see what's been written about them.

[Anonymous]

Collections seem to hurt your score whether they are paid or unpaid. I would keep trying for the PFD. However if that does not work, I would suggest paying it if it is a small amount.  At least in a manual review it would look better, and well you did incur the debt, so always best to pay it off anyways.

Also if it is already paid....you could always try to GW or DV them later. Sometimes if you DV something that is already paid, the company will not want to bother with the work of verifying it since they have no incentive anymore, and will drop it from your reports.

But keep trying the PFD first. If that fails for a long time..then pay, wait, GW and DV.

[Anonymous]

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molly73 wrote:

thanks everyone for the info!

if i do settle it, it will show as being paid right? It will show that it was settled for less than full or something like that.

will that look that much better on my report then having it still opened & them trying to collect?

During a manual review, creditors would rather see paid vs unpaid accounts.

 will CC be ok with it being settled then being paid in full?  Depends on the CCC.

if i do settle, will that reset my 7 years? no

if i pay it off in 3 payments..will that reset my 7 years? no

what are the chances they would not verify after it being settles....that sounds almost too good to be true!

I bet they would verify.

I am just worried that if i pay for this account, then it will not help my credit at all.

Paid and unpaid collections affect the score the same.

Message Edited by molly73 on 03-18-2009 07:01 PM

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[Anonymous]

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CeRTifiEDNuT wrote:
Hm, I just asked if I should PFD in another thread. Now I'm unsure because it's Midland. I have DV'd with no response and I sent a copy of my DV letter etc to the credit bureaus that are reporting. Equifax "verified" it was mine. I don't know how because they sent no proof, just a letter stating it was found to be mine. Anyhow, the amount owed is minimal and could be paid in full but if they won't delete will my score change if it is paid? I'm scared to PFD now that I see what's been written about them.

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Have you filed complaints with the BBB or your AG?

[Anonymous]

Nope not yet. I didn't know that I could since they (equifax) "verified" it. Experian sent a letter stating that I didn't give them sufficient identification info to verify my identity. Bunch of bullcrap if you ask me. So it was enough for Exquifax but not Experian?! Obviously these credit bureaus do not have the same criteria for reporting nor verifying. It's maddening! Anywho, sidewinder, I don't know what to do next. Because not only are these two bureaus treating this differently but now the third, which this account was not on, is now reporting it! So wth?! Mind you I haven't gotten ANYTHING from Midland themselves but they've obviously decided to make sure that all three of my scores are being dinged by them! Grrrrrrrrr