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Midland Funding / Credit One - Help!

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Anonymous
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Midland Funding / Credit One - Help!

I need some good solid advice. I am down to my last "baddie" and it is on all three credit reports. It's an old debt from 2012 (next March will be 7 years). Credit One now owned by Midland Funding and I am being contacted by an attorney asking me to make an arrangement with them. It's only $358 and will be "WELL WORTH IT" to pay in full for delete. Not even looking to negotiate a settlement, I just want it off my credit report.

What would be the best route to take for the fastest, most successful outcome?:

 

Call the attorney and let them know I am willing to pay in full for delete from all 3 credit reports, but want a confirmation in writing that it will be deleted?

 

Call Midland Funding Customer service and ask for the same thing

 

Call Midland Funding or email the Chief Compliance Officer (or can I only do that if I have already tried their customer service)?

 

Message 1 of 11
10 REPLIES 10
Anonymous
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Re: Midland Funding / Credit One - Help!

Midland Funding are now deleing debts of more than two years automatically. I would definitely wait on the letter to come in the mail if your account has been with them for more than two years. 

 

As for the Credit One charge off I would email the executive office and send a goodwill letter. I was able to get both off my credit report without paying. 

Message 2 of 11
Anonymous
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Re: Midland Funding / Credit One - Help!

Hello @jainitawes3       

Thank you for your response. The account was actually a Credit One account that was sold to Midland Funding and on CK it shows creditor as Midland funding as the creditor account shows opened 6 years ago (March 15, 2012) and original creditor Credit One

Midland has given it to an attorney to collect from me.  

Message 3 of 11
Anonymous
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Re: Midland Funding / Credit One - Help!

@mandm what the previous person said is correct. You don’t need to negotiate a PFD on your collection with Midland. Since it’s been more than 2 years since DOFD they will delete the tradeline automatically. Just pay it and it will take care of it.

On a side note, is this a judgment? Seems odd if your account is almost 7 years old from default they would send it to a firm unless it was already reduced to anjudgment.
Message 4 of 11
Anonymous
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Re: Midland Funding / Credit One - Help!

Thank you @debtguy..

 

So I should just pay it and it will be deleted? Well, that seems easy enough...

 

The letter from the attorney does say it's a judgement, but I don't have any judgements on my CR. No PR at all.

Should I pay through the attorney, or call Midland and pay?

 

Message 5 of 11
Anonymous
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Re: Midland Funding / Credit One - Help! *** UPDATE***

I called the attorney last Wednesday and discussed options and decided to move forward with paying off the small amount in 4 payments, and he was going to send me a letter, and said anything from a credit perspective should be discussed directly with Midland and provided me the number to the department at Midland that deals with credit.

On Friday, I changed my mind and decided to just pay it off in one payment, so I called the attorney, and made the payment. Without me asking he suggested that once the check clears, that I should call Midland Funding's credit department to follow up with them (the attorney's office will be advising them and the court to advise the judgement is settled - again this does not show up on my credit report).

So, this is the last "baddie" on my report and I'm hoping it won't be long before it's removed. Over the past week, I had the 2nd to last one (and it was only put on a year ago, not sure why it was removed, but not arguing with it) fall off both TU and EQ resulting in a 15 point increase on TU and 16 point increase on EQ just last night. I was so excited! Can't wait to see the EX score increase and then wait for the increase on all three for this last one.

 

Starting scores in December 2017 were high 400's to low 500's I had a lot of work to do, but happy to say I feel like I am making good progress. Now I just have to let all of the new credit that I have received in just over a year so that my scores will soar!

 

EQ:646

EX: 660

TU: 665

Message 6 of 11
Anonymous
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Re: Midland Funding / Credit One - Help!

@debtguy

 

So, I PIF with the attorney who had the collection it was $358.27, paid on March 23rd. I received a letter from the attorney on April 9th showing PIF and account satisfied. I signed onto Midland's site today and they show the payments and now a new balance of another $191! How do I deal with this? Any direction?

 

Thanks!

Message 7 of 11
outofcredit
Established Contributor

Re: Midland Funding / Credit One - Help!


@Anonymous wrote:

@debtguy

 

So, I PIF with the attorney who had the collection it was $358.27, paid on March 23rd. I received a letter from the attorney on April 9th showing PIF and account satisfied. I signed onto Midland's site today and they show the payments and now a new balance of another $191! How do I deal with this? Any direction?

 

Thanks!

 

If I remember correctly, when I settled my collection accounts with Midland ( I had 4) it was for 60% of the total actually owed. Once the payments were made Midland's site did reflect a balance still owing (the difference between the settlement amount and the actual amount owed) for a short period of time. Not more than 2 weeks after settlement, Midland updated the amount owed, updated my credit report to reflect a $0 balance and eventually removed the accounts completely from my reports.  The whole process from payment to removal was approximately 3-4 weeks. YMMV.  Hope it all works out for you.


Instead of waiting for the storm to pass, I've learned to dance in the rain.
Message 8 of 11
Anonymous
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Re: Midland Funding / Credit One - Help!

Thank you @outofcredit

 

I just talked to them at the number the attorney's office provided me and basically it sounds as though that is what happened. I didn't negotiate a settlement, I paid the total balance, so I don't know where that addtional $ amount came from, but she said once the receive the confirmation from the attorney, they will update the record and then remove it from my credit report. She did say it could take up to 30 days. I can live with that, hopefully it will be sooner!

 

Thanks for the insight, helps confirm what they told me!

Message 9 of 11
Anonymous
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Re: Midland Funding / Credit One - Help!

Looks like you have this all squared away.  Congrats!

Message 10 of 11
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