Midland funding

[Anonymous]

I owe have a debt with Midland funding for 6,238.09
I only want to pay 40%. How do I go about negotiating this down. I called them and they said the lowest they'd go was 4500. I have about 2500 cash available that I can pay on it right now. Do I stand a chance getting it down that low. Should I try to make the settlement via mail instead?

[Anonymous]

Sometimes calling back and speaking with a different representative can make a difference. Don't give up. Good luck

[simplegirl]

I would suggest mail because some offers are better given that way. It is usually harder when your talking to them on the phone. If your still within SOL then they would probably make it harder to.

[Anonymous]

You should negotiate a pay-to-delete and do it by mail. They can always change it if it is not in writing.

[Anonymous]

Okay, thanks! I'll try by mail with occasional calls. I believe Midland funding deletes after payment.

[simplegirl]

Yeah they do if the debt is 2 years old or older.

[Anonymous]

I have got debt's that were almost $6,000 down to $500 it just depends on the original creditor and what they purchased the debt for, I would think you could get close to $3,000

[Anonymous]

I'd love to get it down to 500! 3000 is okay. Would you recommend to continue calling until they lower the price or to communicate via mail. What exactly needs to be done. Thanks for your help!

[Anonymous]

You can definitely get Midland to accept 50-55%; I've done it twice.  Start by offering them 30% and tell them that's all you have and would like to settle the account so you can move forward with rebuilding your credit.  Do not tell them how much $ you have available to pay altogether and DO NOT sign up for a payment plan if you can help it.  Payment plans with collection agencies are a waste and do nothing to help you.  Also, if the date of first deliquency was 2+ years ago, they'll delete the account from your credit reports.  Otherwise, I wouldn't bother paying it right now to be honest.  Lastly, I'd advise you to follow up with them about a week after settling the account to make sure they've updated your account and have notified credit bureaus b/c otherwise, they may not close out the account the way they're supposed to.  GOOD LUCK!

[firemartinez1980]

I know this thread is a few months old, but I had a $900 collection with Midland and just did a settlement for $500. It was better than paying the $900 and it should be deleted off my credit report completely any day now.

Just remember, ANY settlement is better than paying the full price. YOU are the one that charged or made that purchase at full price and didnt pay it, so any kind of settlement is better than none and if you can, get it deleted from your report after paying. Midland is good about this as long as the account is over 2 years old