Midland Funding Response to PFD! Help:)

[Anonymous]

Hello, 

I will get straight to the point. I have been sending Midland Funding PFD Letters for the past 2 months. I finally received a a letter today. I am a bit unsure as to whether this is in response to my PFD letter or if it is just a notice. And if they are just notifying me about their new policy, is it possible that they will not agree to PFD. Any opinion helps! Thank you in advance. Here’s the letter:

Dear Mr. Sanchez

 The purpose of this letter is to make you aware of a recent change to our credit reporting policy.

Effective October 11, 2016, we will request that existing credit reporting trade line for any Midland Credit Management or Midland Funding account be removed when:

• The account reflects a paid status with a $0 balance, and
• It has been2 years or more since the date of delinquency 

Note: The original delinquency date is the date when an account first became last due and can be found on your credit report. We are required to delete our credit reporting trade line 7 years after the original delinquency date regardless of the paid status.

For more information, please visit https://www.midlandcreditonline.com/help-center/credit-reporting/ or call us at 800-265-8825

Sincerely,

Tim Bolin, Division Manager

This account may still be reported on your credit report if unpaid.

[Anonymous]

To me it looks like they’re deleting accounts for anyone who PIF. Makes me wish my baddies were with them instead.

[RobertEG]

That is standard Midland policy, and you can rely upon it.

It is a binding contract offer.

[Anonymous]

Thank you so much for yalls response! Turns out they are accepting PFD. I’m so happy! Just paid it off. Thanks guys!!!

[outofcredit]

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@Anonymouswrote:

Thank you so much for yalls response! Turns out they are accepting PFD. I’m so happy! Just paid it off. Thanks guys!!!

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I know you have already taken care of this but for anyone else who may need the information, I "settled for less" my four accounts with Midland Funding for approximately 60% of the original debt.  My settlement terms did require a lump sum payment for each account. The acounts were removed from my credit reports within 30 days of payment since the DOFD was older than 2 years. 

[Anonymous]

Congratulations on paying that off Kat!

[GodivaD]

I have a charge off that was sold to them. I haven’t paid it and only the OC is reporting as sold. I have no intention of paying it neither. It’s closed, $0 balance and Midland obviously doesn’t care. I think it’s 5 yrs old too.

[Anonymous]

@godiva that’s awfully surprising they aren’t reporting, they report everything after I believe 90 days of them purchasing the debt. Did they just recently purchase ?

[GodivaD]

They’ve had the account since 2016 if not earlier. However, I would be extreme happy if they reported and the OC deleted their line! I would PIF for it to be deleted 😩. Unfortunately I might have to pay it to get EE with EX 😳🙄

[Anonymous]

Wow! Congrats on your success as well! I’m so glad to hear that! We also paid 60% only & they said that our DOFD was older than 2 years so we meet all the requirements for their new policy. They told us it will be removed anywhere between 30-60 days! I was just so happy to finally hear some good news !