Good old Midland has struck again, only this time on my fiance's report via myfico equifax. Showing it's an open account with terms and showing 120+ past due. So it show him with an account that is past due when it's an old charge off from Cap1 that is also on his report as a charge off. Is there anything I can do to help fix this? This is what it shows:
|STATUS AS OF DATE: : Oct, 2012|
|DATE OF LAST OPENED: Jan, 2011|
|DATE OF LAST ACTIVITY: Jun, 2008|
|Largest past balance: $1,746|
|Account Type: Open Account|
|Account holder: Individual|
|Account holder: Factoring Companies|
I just called them yesterday trying to get a goodwill and no luck. I'm going to stick a goodwill letter to them in the mail tomorrow. I read on a post where a few people got lucky by bugging them. One person also stated that they sent a letter to all 3 CRA stating that Midland keeps horrible records and have recently been sued by several states for inaccurate information and that worked for them. I'll let you know how it goes with the snailmail goodwill.
Midland is a notorious bully. They will walk all over you if you dont stand up to them. It looks like they are committing violations again. Big suprise. Have you submitted a timely dv letter? Gone through the fdcpa, frca and state statutes that protect the consumer? Are they even licensed in your state to collect debts? Did they send you an adequate dunning letter? If you find they have violated your rights, they most likely will blow you off. However the BBB, FTC, and your states attorney general will be more than happy to inquire on your behalf, its their job. Dont be afraid to take them to court either. Yes its intimidating, but, its usually the only way to get their attention, and otherwise they ll never take you seriously.
I've used the BBB myself. Worked great for me. Not with Midland. I had a Midland collection at one time. I paid it and it disappeared. Guess I got lucky.
I spoke with a representative from Equifax today about Midland. I'm having the same problem how they are reporting. The representative informed me that Midland uses a "6 rating" when reporting, so that allows for the 120 day lates posted. She informed me that I probably need to try a different approach with them, cause she has seen them do it often. She also told me that they tend to list as a "factoring company".
I tried the BBB and got shot down immediately. Same with the Attorney General for my state. I think they are getting tired of running all this down. Is there any tactic besides small claims court and if not, how often does that work? I've read where Midland has gotten aggressive and moved the small claims to Federal and countersued.
I want them gone, but I also can't afford an attorney.
The CRAs should in my opinion, crack down on this. It's a loophole, they know it's a loophole and allow it to happen anyway.
The fact that the OC charged-off the debt and reported that action to the CRA under their account has no real significance to the issue of later reporting of continued collection on the debt by a debt collector.
A charge-off does not relieve the consumer of any continued responsibility for the full debt, or prevent any party, be they the creditor, their assigned debt collector, or heir to the debt, from pursuing collection of the full amount. The debt is charged-off as a business loss in their accounting books, not charged-off as to continued consumer obligation.
The issue, as I see it, is whether the debt collector has collection authority, either by assignment from the OC or by purchase of the debt.
Reporting as a factor on the debt implies they have purchased it. With that ownership comes the right to collect, and report that fact to the CRA.
What is the asserted violation on their part?