Midland Credit !!!!

[acrylic51]

I've been slowly working through my baddies since the begining of July and have seen significant improvement......I started of with scores ranging between 545-579.....I belong to PSECU and get my EX score through them.  I have been fairly successful in PFD with the items I've had reported.  Currently I'm at EQ 686, TU 639 and will have to wait till the 15th for PSECU to update EX.

With that said my last major hurdle is Midland Credit.....I've been following the standard procedure, but as we all know Midland is the "tough cookie" to crack.  The debt is from an old Tribute Mastercard.  The account is listing them as a factoring company and shows open and reports 120+ lates on the account.  DOFD is 6/2007.  I'm 5 years in, and would like to PIF on the account, but real curious as to how they can update the account as open and 120+ days lates, and the account keep accruing interest.....Also with the fact they are pretty strict on PFD is there any advantage to PIF and once it's PIF would they mark the account as "Paid" on mark the account as "Paid" Charged Off Account........

[Anonymous]

I have numerous dealings with Midland.

I paid and asked for a goodwill deletion, and was shot down.

I found that even though it was paid Midland continued to report the account with the incorrect status as well as other information that was not accurate. Once I brought it to the CRA's attention, the entire trade line was deleted on EQ and EX, even though I simply asked for the correct status to be noted.

[Shogun]

Many posts lately involving the CAs and their attempt to post as "Factoring Agents".  They are CAs.  They can't report KDs although they try. 

[Anonymous]

That is a very good, and interesting point Shogun.

What about KDs being reported on a paid collection by the KY Higher Education Association? They were not the original creditor of my student loans, but they were placed with them before I paid them off.

[Shogun]

That actually does sound like a factoring issue.  They purchased a current account and now they may list themselves as the OC.  

[Anonymous]

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@Shogun wrote:

That actually does sound like a factoring issue.  They purchased a current account and now they may list themselves as the OC.  

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OK, I was thinking the same thing but was curious.

I have 2 state student loans, for 2 semesters. They're listed 4 times I my reported, 2 of them as KD. I paid them in March but they're still being reported as KD.

I didn't have very many CAs on my reports, but they were all reporting KDs. Some after I started disputing, and writing PFDs. LOL.

Thankfully I am down to my federal student loans and one collection.

[acrylic51]

I was curious because Midland is showing asana a factoring account, and if you read complaints about their reporting with the BBB, you'll see they try to justify it by saying they were advised to do so by the CRA's.

Curious as to what the true definition of "factoring" is/means and is it honestly legit? Also wondering how they can report the account legally as 120 past due? They were never the OC. Also curious on my TU report they are listed under accounts as open, and the account isn't open, but they don't show up under collections, whereas on EQ and EX they don't show under accounts, but merely under collections section. Can someone enlighten me please!!!

[Shogun]

The part about them reporting that way because of the CRAs is a bunch of bull.   Contact your State Attorney General and see what they say.

[acrylic51]

Thanks!!!! I thought it was odd to, but they seem to go to great lengths in their responses to the BBB. I havent seen other CA list themselves that way

[Anonymous]

AG is the way to go. Or if you're like me, I ended up debating my issue with someone from their legal counsel team, who ended up admitting I was right. I didn't help matters but it sure was satisfying offering up arguments that she couldn't refute.