Midland Credit CollectionContacted by Midland Credit Collection - Midland Credit Management Inc.
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It is always scary to receive notice that Midland Credit has purchased your debt or to find a negative incident on your credit report.
What should you do to deal with these incidents and what are your legal rights? Find out how to get rid of this debt!
What to DoYou have the right to send a demand for verification of the debt.
Midland Credit Management Inc. is required to prove that they do have legal right to the debt and must stop harassing you about it until verification has been made.
Demand that they send you written proof listing the name and address of the company that originated the debt, the amount of the debt, the number for the account, and the date of the final transaction on record.
This last piece of information is important, because it relates to the statute of limitations.
Every state gives a period of time in which creditors can seek repayment. If they have not recovered the debt within that time, they no longer have a legal right to sue or even threaten to report your case to credit agencies.
Find out what the limitation is in your state and compare it to the information that the Midland Credit collection sends. If the last transaction you made was beyond the statute of limitations, give that information to the collection agency and demand that they stop harassing you.
You do have the legal right to dispute a bad credit incident by sending a dispute letter to one of the three major credit bureaus.
If you are able to prove that the charge against you is invalid, they are legally required to delete the negative incident.
Another option is to use a credit repair company.
They can help you through the process of deleting bad credit or issue a debt validation request for you. Of course, you will have to pay an additional fee for their service. If you have legitimate debt, some companies can also help you pursue debt consolidation with a debt consolidation loan.
If you make any kind of settlement agreement, be sure to demand paperwork that clearly records the agreement.
Unfortunately, some agents for Midland Credit collection will make a "settlement" that is non-binding and refuse to back it up with any written record. When you have paid the agreed amount, they will continue to demand more.
In the case of continued harassment, you can file a complaint against Midland Credit with the Federal Trade Commission under the Fair Debt Collection Practices Act.
This option is particularly effective if the charge against you is invalid or outside of the statute of limitations.
Debt is a financial black hole and if you find yourself in serious debt as you fight Midland Credit, you need to get resources that will help you. Look for a good debt consolidation company or use one of the many debt resources that are available for doing it yourself.
Learn how many people just like you got this company off their backs!
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