Midland or RPM?

[Anonymous]

I have a negative account on my report from Midland Credit Management.

Long story short, I called MCM and they say they have passed the account to Receiables Performance Management and I would have to talk to them.

RPM is not reporting, but MCM still is.

Do I PFD Midland or DV RPM?

Thanks!

[GoodCredBen]

ohhh you have a hard one, ..... i would DV them first, both of them. 

the problem is is that midland can always still report....

What is your states SOL, are you past it? 

[Anonymous]

It looks like it's 3 years.

I think the account went bad in 2008, but I'm not sure.

[llecs]

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@Anonymous wrote:

It looks like it's 3 years.

I think the account went bad in 2008, but I'm not sure.

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Could you PIF if you had to? SOL's only importance is if you could not PIF and you were inside SOL. You wouldn't want to send anything and have them sue instead.

[Anonymous]

Yes, I can pay it in full.

[llecs]

Then I wouldn't worry about SOL. I'd DV away.

[TiggerDat]

It would not hurt to do both!

[RobertEG]

I would probably DV the new debt collector as the first item of business.  They have not yet reported, and the DV would put them under a cease collection bar until such time as they validate.  A DV to debt collector 1 would be of dubious value.  They could simply state ignore you, unless you live in Texas, as they obviously arent conducting any more collectin activities, and thus would be totally unconcerned about any cease collection bar.

Since debt collector 1 no longer has debt collector authority or ownership of the debt, they cannot accept a PFD, so I dont see that as a course of action.  Perhaps a GW to them.

You can begin negotiations with debt collector 2, such as by offering a PFD as a condition for NOT reporting, but if you also DV them, the cease collection bar that it imposes may shut down any PFD negotiations.  A DV is not, in my opinion, an absolute first step.

You are in a bit of a limbo zone.  PFD of some sort with debt collector 2 would, in my opinion, be the best course.

[Anonymous]

I'm not sure if this makes a difference, but when I spoke to someone on the phone with Midland, they said RPM is a division of MCM.

[Anonymous]

I tweaked a sample PFD letter based on the advice from you guys.

Would someone please proof it and suggest any changes?

Thank you!

Collection Agency
1212 Maple St
City, State Zip

Re: Collection Account for Original Creditor Account #: 00000xxxx

Amount: $25.00

To Whom It May Concern:

This letter is to inform you that the validity of this debt is disputed. I am not sure of the account number, as I have never heard from you regarding this account. The account number I have is the one listed on my Equifax credit report as belonging to Midland Credit Management, which indicated it had passed the account to Receivables Performance Management.

In the spirit of compromise, I am willing to pay this account IN FULL if you agree to not report this account to any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this payment is merely to have this item not reported to my credit files and to delete any information already reported. It is not to be construed as an acknowledgment of liability for this debt in any form.

If you agree to the terms and accept this agreement, certified funds for the settlement amount of twenty-five dollars ($25.00) will be sent to Collection Agency in exchange for not reporting this account, deletion of any information already reported, and full satisfaction of the debt.

Collection Agency agrees to not report information regarding this account to the credit reporting agencies. If Collection Agency has already reported the account to the three credit reporting agencies, it agrees to delete all information related to this account WITHIN TEN CALENDAR (10) DAYS following receipt of payment as specified above and will not discuss the terms of this settlement with anyone, excluding your client on this account. If contacted by any third party, including credit-reporting agencies, Collection Agency will not acknowledge that any settlement offer was made, accepted or executed and will, in fact, deny knowledge of any such account.

If you agree to the above terms, please prepare a letter on your company letterhead explicitly agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of Collection Agency. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.

Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn and I will request full validation of this alleged debt, as provided for by the Fair Debt Collection Practices Act.

Please address all correspondence regarding this account to:

You
123 Any Street
City, State Zip