Midland Credit Management is a credit collection services company which is based in San Diego, California. If you’re getting letters or calls from this company and you want the calls and letters to stop, you’ve come to the right place.
I’m going to go into exactly how to deal with this debt collection company, and also show you how you can get a Midland Credit Management collection removed from your credit report.
Communicating with debt collectors can be a stressful situation, so let’s start out by going into how to properly communicate with them.
Demand Written Communication Only
Dealing with Midland Credit Management over the phone is not recommended. While many debt collectors do follow ethical business practices, some of them promise things over the phone and then go back on their promises. When this happens, the consumer is unable to prove that promises were made. It’s much safer to keep communications restricted to letters which are sent and received via mail.
With this in mind, the first step that you should take is to send a letter to Midland Credit Management which is a demand that all communications with the company be handled in writing.
You have the right as a consumer to make this demand
The Fair Credit Reporting Act (FCRA) was designed to promote fairness and accuracy by consumer reporting agencies. Under the rules set out in the FCRA, you do have rights, one of which is to demand written communication.
Try to send this letter within thirty days of hearing from Midland Credit Management for the first time. It’s important to take action quickly, as your chances of getting a negative entry removed from your credit report will decrease past the thirty days.
Request Validation of the Debt
Midland Credit Management is a collection agency that often buys debts in bulk for pennies on the dollar and then makes money by collecting outstanding debt from consumers. Since Midland won’t make money unless debt is collected, their representatives can be tenacious!
To move forward with getting Midland Credit Management removed from your credit report, you should write another letter called a debt validation letter, also within thirty days of your first communication with the debt collection company. This letter should demand validation of your debt. The company has to prove that the debt in question is in fact yours.
When the company responds, look over the data that’s been send to you. Are there any inaccuracies? If there are, the company will have to stop contacting you and remove the negative entry.
Under the terms of the Federal Credit Reporting Act, Midland Credit Management is mandated by law to do an investigation of the claim that they’ve contacted you about. If you can prove that the claim isn’t valid, it will be wiped off your credit report.
It’s possible that Midland reps will be able to prove the validity of the debt. If they do, you’ll need to try something else.
Make a Deal With Midland
It’s usually possible to haggle with debt collectors and then pay less of what you owe, in exchange for having the credit entry removed from your credit report. This type of negotiation happens a lot. Since collection services companies do pay less than the going rate for the debt that they buy, they are able to take less than the sum total of the debt and still turn a profit.
With this in mind, if the company does validate your debt, you should make every effort to negotiate! If you don’t, you may find that the negative impact of the debt upon your FICO credit score is quite a burden. It may affect your ability to get credit in the future, such as a car loan, new credit card or mortgage.
To take care of this third step, write a third letter! Offer to pay a set percentage of the total debt, such as thirty to fifty percent (it’s really up to you), in exchange for having Midland Credit Management removed from your credit report. Remember, never do this type of negotiation over the phone.
If the company agrees to your terms, write them a check, mail it in and avoid giving them any access to your bank account. Wait thirty days and then write a final letter, asking the company to verify that the negative entry has been taken off of your credit report.
Have a Professional Remove Your Collections
Lastly, if you’re the type of person who would rather have a professional handle it and just be done with the whole thing, I suggest you check out Lexington Law Credit Repair. They’ll take care of you, and honestly they usually get stuff removed a lot quicker. Give them a call at 1-844-764-9809 or Check out their website.