Midland help help help !!!

[Anonymous]

Dell collection went to midland . They purchased of oct 2018. Last payment to dell was oct 2017. Been goal long midland everyday or every other day asking them to settled $1500 for $2500 balance. They refused to accept it and said the best they offer is $1931 and I have til end of feb to take it before legal action since my account been prelegal so next step is attorney and lawsuit judge. I Ask them why you wanna go to court and get judgement when I don’t have anything property or any cash at all B.C. $1500  is a loan I got from family please take it but they said they can’t . They said they will document again I can only offer 1500. 

Do i do I keep calling but tomorrow is the deadline before they file lawsuit and also deadline for the offer 1931 midland offer?. I don’t know why they won’t take my money rather take nothing and do a lawsuit...just don’t understand (maybe they looking at my credit reporting thinking I can find a loan? Lol 

anyome me please help with how do I approach midland to take the offer 1500 B.C. I do not want to ask family for extra loan to pay 1931 and even if I pay that I don’t know if they going to remove it from credit report since it hasn’t hit the 2 years mark since last late payment. 

[Anonymous]

See if you can make a payment arrangements. Trust me they will take legal action. They garnished my wages and luckily I paid them off for 2 and half months. Once the legal action begins, it will be more money than what they offering. I know people say dont pay collections but I disagree sometimes.

[Anonymous]

Thanks for your advice but I heard in Texas they can't garnish your wage (but I could be wrong ) plus I recently lost my job so there wouldn't be income coming in. I just want to do it right and pay them but trying to get a decent amount without loaning more money from family. I just don't understand why they can't just take a offer that is free hundreds less from the offer they tell me. Worst case I got again tonight and tomorrow and see if they take 1500 if not I really have to pay 1931. I don't want to do payment. Arrangement bc my family loan wants me to pay it off and if I don't I have to give the money back . I'm not going to do an arrangement if I'm not sure if I will get income coming in or not .

Also does anyone know if we pay what they offer will they remove it from credit report earlier than the two years mark ?

[FireMedic1]

Not really. From their website:

"Effective October 11, 2016 we have updated our credit reporting practices. As a result of these updates we will stop credit reporting on accounts that are both: Paid in Full or Paid in Full for less than the full balance and more than 2 years old based on time since the date of delinquency. Additionally, we will not start reporting on any new accounts if: Payments begin within 3 months of our mailing of our initial notice and Payments are made each calendar month thereafter until the account is Paid in Full or Paid in Full for less than the full balance. We are required to delete our credit reporting trade line 7 years after the original delinquency date regardless of the paid status."

[Anonymous]

Update . I got tired and end up just overdrafting on my bank and paid them 1900. Apparently my bank allow me to overdraft . Midland customer service rep told me it will be til Dec 2019 when they take it off the credit report but they will report it as paid on settle amount less than full .

I got an advice from a buddy telling me wait til they update and later down the line I can dispute Midland collection with credit bureau and Midland will not response since they are done with your account so the credit bureau will take it off since Midland doesn't reply within 30 days at all.

Have anyone done or experience this bc my buddy did it and got it removed bc Midland didn't response to the dispute.

[Anonymous]

You may have done yourself in by mentioning the fear of legal action and starting your offer at the highest you’re willing to go. Now they have the upper hand. But lesson learned. I would recommend to keep calling. You’ll get a different rep each time which will increase your odds of getting the one willing to bend.

I settled 3 accounts Midland just yesterday for 50% of the total balance. Mine are also from 2017. I was very nice and told them I’d like to negotiate a settlement. I started by offering 20% and we haggled back and forth a lot. I really didn’t want to go above 40%, but I finally offered to meet him in the middle and go 50%.

The nice thing about Midland is that if you do reach a settlement agreement they will remove the collection from your credit at the 2 year mark.

[Anonymous]

I just read your comment about overdrafting your account so I apologize about my other comment coming in a little too late. I hope you’re able to get back in shape with your finances quickly.

The good news is that you’re done with Midland! I would honestly not bother disputing and just wait until it falls of in december. Now is a good time to build your savings so you don’t have to borrow money or go into default on your credit obligations. Then by December you’ll likely be in a better place with your credit and savings!

[Anonymous]

I kept going back and forth and grew tired of them because they keep saying Manager only able to offer me this discount and now I'm on the stage of lawsuit. I don't want to deal with lawsuit even though I don't have a dime for them to take during judgement if I lose. I could play the game with them back and forth but I just don't have the time because I'm planning to get a mortgage loan once I find a new job . Since it won't fall over until December 2019 I might have to dispute the collection if I end up getting a new job and applying for FHA mortgage loan before Dec 2019.

I was just wondering if dispute actually work on Midland removing since they most likely don't response to the dispute or maybe they will response.