MCM and First Bank of Delware

[pipeguy]

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@Anonymous wrote:

Thank you, pipeguy.

Doesn't pages 8-11/12 of the 08-12-03 order discuss the credit reporting issue and the cease of collection activities? I'm so confused......LOL

But I will follow your advice and send another package to them, this time addressed to MIDLAND FUNDING LLC...

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Based on the lines I posted (in green) previously, which were from pages 11 & 12 of the final order, I think it depends on an accounting of your account. As I read it, you have "credits and restitution" which offset any balance, but without an accounting as of the final order date I can't say. I do not read the docs to say credit reporting, collection and third party sales are excused. Note I'm not an attorney.....

[Anonymous]

Here is the start of Part III on page 8:

IT IS FURTHER ORDERED that within sixty (60) days of the effective date of this ORDER, CompuCredit shall commence the actions described below, and within two hundred seventy (270) days of the effective date of this ORDER shall substantially complete the actions described with respect to those consumers identified herein (Eligible Consumers). This paragraph shall apply even if an Eligible Consumer’s account was closed, charged off or sold to a third party (whether or not the third party is affiliated with CompuCredit).

Wouldn't Midland be considered a third party?

Sorry if I'm being a dunce, but I'm just trying to understand the order....

Thanks for your help

*Edited to add page number*

[pipeguy]

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@Anonymous wrote:

Here is the start of Part III on page 8:

IT IS FURTHER ORDERED that within sixty (60) days of the effective date of this ORDER, CompuCredit shall commence the actions described below, and within two hundred seventy (270) days of the effective date of this ORDER shall substantially complete the actions described with respect to those consumers identified herein (Eligible Consumers). This paragraph shall apply even if an Eligible Consumer’s account was closed, charged off or sold to a third party (whether or not the third party is affiliated with CompuCredit).

Wouldn't Midland be considered a third party?

Sorry if I'm being a dunce, but I'm just trying to understand the order....

Thanks for your help

*Edited to add page number*

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Yes, Midland would be considered a third party, but still that section and others as far as I understand it, have to do with refunding upfront fees and costs (restitution) along with various ways to address the refunds.

Without an accounting of your account or at least a balance based on the date of the final order, you have no way to tell how much the offset is meaning your balance less any restitution. I don't see in that section or any of the other documents (again I speed read them I did not study them) where 100% of the accounts or any specific percent were banned from collection, sale to third party collectors or banned from CRAs reporting. The balance is being "adjusted" based on unlawful over charges which "may" equal a zero balance, but again one needs some accounting to know anything specific.

On a positive note, if you don't have a clue chances are very good that Midland has even less of a clue.

[Anonymous]

Well, my account was charged off by the final order date, but an accounting would be nice...The representative from FBD did inform me that I was part of the "Eligible Consumer" group that FBD targeted, which I have in writing. As I previously mentioned, the OCs (FBD/Tribute and FBD/Continental Finance) were deleted from all my credit reports when I disputed them.

I'm not too worried about the restitution, I would just like to have the tradeline removed and Midland to fall in a deep swamp!!! These are two of four collections left on my report!!!

I think I will do as you suggested with another letter and another copy of the FDIC orders PLUS add the documentation from FBD.

Ahhh, the credit fun....it never ends with Midland!