@JoanMalone118 wrote:
Given all of the crap that I'm going thru right now... I feel so motivated and got a burst of energy to move forward after I got the notification that all 4 collections from Midland Credit Management was removed. I was going to try to settle and pay them off with the agreement to remove it from my report (as they did agree that they would if I paid.) However, I just sent a debt validation letter to them, and I also sent one to the credit bureaus as well, and I filed a complaint with the CFPB saying that they were reporting unverified accounts to my credit report.. I did it with hope that I would work, but I also thougt it wouldn't just because I heard that Midland is hard to fight. Therefore, I still had the plan to just pay them off but a dispute wouldn't hurt. I sent the letters 7/01/2024 certified mail... and I just was randomly checking my scores on experian and I saw that my scores went up 36 points and I saw that midland removed those collections.
My question is could they still try to sue me? If so, could I just make a payment arrangment with the original creditors? Which is Credit One bank (2 accounts), Destiny Credit Card and Care Credit Synchrony. If I make the payment arrangment with the original creditors and work on paying the accounts off through them, that would mean that Midland couldn't try to sue me later.. right?
Midland is a debt buyer. Chances are that it purchased the accounts from the original creditors. If that is the case, then the original creditors are out of the picture and cannot accept payment.
Are the original creditors reporting on your credit report? If so, are they reporting a balance still owed?
When an original creditor sells an account, it must update its reporting to show a $0 balance owed. That is because it no longer owns the account and is no longer owed the balance. The balance is owed to the new owner.
However, if a creditor shows a balance still owed, that means it still owns the account. Any collection agency attempting to collect is collecting on behalf of that original creditor.
So again, if the original creditors are reporting a $0 balance owed, the accounts were sold and the original creditors cannot accept payment.
Just a note: If Midland decides to verify the accounts with the credit reporting agencies, the accounts can br reinserted in your credit report. See 15 U.S. Code § 1681i(a)(5)(B) of the Fair Credit Reporting Act for details.
