I wonder how many Midland posts I'll post before I actually have it all paid off.

[SLR72689]

So before I was being offered a 40% settlement and when I went online just to look at the account I now have two options:

1. Pay In Full $1,616.

2. Good Faith Payment $50 "Making a good faith payment will NOT settle your debt. Please consider establishing a payment plan."

I was previously planning on doing the six month payment of $215 a month for the settlement and was going to begin paying in middle of March. I know they're quick to sue and I don't want that at all, obviously. Since I can't pay the $1,616... and I don't want to commit to a payment plan just yet because I don't know what I can/cannot afford yet... would it be wise to make a "good faith payment" just to show I'm not ignoring the debt?? I know it's legitimately mine. I just don't know what to do about Midland. 

[guiness56]

Is it still within SOL?

[SLR72689]

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@guiness56 wrote:

Is it still within SOL?

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 Yes it is. They just aquired the debt in September of 2012... I want to say the DoFD from the OC was October/November 2011. Illinois SOL is 5 years.

[SLR72689]

Let's say I did make a payment of $50 in "good faith" ... that would be deducted from my total balance, correct? I don't want to call Midland because they're so demanding and rude to speak with. I can access my account online and would prefer to make payments online so I can print out confirmations of payments.

I am going to try to save up money all March that way towards the end of the month I can hopefully get a settlement offer again.

[SLR72689]

Tomorrow when I have access to a printer, I am going to make a "good faith" payment hoping the full $50 gets deducted from the full balance. Maybe then they'll leave me alone for more than a few days. 

[DaBears]

I live in IL as well. Becareful of the good faith payment as it could start the SOL over again. I seen it done a lot in this state!!!!

[SLR72689]

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@DaBears wrote:

I live in IL as well. Becareful of the good faith payment as it could start the SOL over again. I seen it done a lot in this state!!!!

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I just don't know what else to do  I'm afraid if I do nothing, they'll definitely have a judgement against me. I can't pay the full balance of $1,616 or even a decent sum of it. $50 is really pushin' my budget this week.

Any other suggestions??? Donations will be accepted  hahah.

[DaBears]

Did you tell them over the phone you would make a $50 payment?

[SLR72689]

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@DaBears wrote:

Did you tell them over the phone you would make a $50 payment?

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I did not.  I did call this evening but the person attending to my account wasn't at their desk apparently so I was told to leave a VM or call back.

[guiness56]

Since the DoFD is 2011, it is still within SOL.  Making a payment could extend SOL out 2 more years.  The only thing I would be concerned about a good faith payment is if you only do the one then they are not going to be satisfied and end up suing you.

You are between a rock and a hard place.   No matter what you do (or don't do) could easily get you sued.