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Midland Credit Management / Ridiculous company

1 United States Review updated:
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I am so upset with this ridiculous company full of bottom feeders. They have had my debt for over a year now. When I first got word that they had the account, I called them to set up payment arrangements. I paid an agreed upon amount expecting this to be expunged from my record. Months later after receiving no correspondence they told me that I agreed upon amount did not include the 'interest fees' accrued by them. I told them I wasn't paying any additional fees since they bought this account for pennies on the dollar and they were not the original creditor. Over a year later, I have sent them letter after letter after letter with no response. The last conversation I received with one of there very rude reps were interest was continuing to accrue by the day and this was going to collections soon. Can someone please help?

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  • Ch
      25th of Feb, 2009
    0 Votes

    LOL i used to work for them. Trust me, they will happily take 100 percent of the debt knowing they would still come out ahead by taking 30 percent of it. MCM adds their own interest charges to some accounts. ask that all those charges be removed. then tell them you will pay only 30 percent of the remaining amount ONLY if they report to the cb that it has been paid in FULL, and make sure you get it in writing. if they pay 5 dollars for a 100 dollar debt, they dont need to mark up the price much further in order to profit, the only reason they do it is because of the original contract binding you legally (they may try to scare you, but they do not take many cases to court because of costs, so if your debt is small you wont have to worry). find out the statue of limitations for your state. for example if its 5 years, that time starts from the charge off date (charged off meaning when it was sent to collections). so if it was charged off 4 and a half years ago, you have 6 months to wait untill they cannot do anything leagally, although they may still imply they can sue. the easist thing to tell them is that the number or numbers they are calling, are all cell phone numbers and its costing you money for them to call you. when asked to remove the numbers, by law they have to. also you can send them a letter telling them to "cease and dessist: all contact. then they cannot call or write.

  • Ir
      20th of Mar, 2009
    +1 Votes

    Midland Credit bought out a $640 account I had with Nordstrom. I paid off the entire balance almost a month ago and they still haven't updated the information on my credit report yet they cashed my check right away! I can never seem to get a hold of anyone there. I just get put on hold then hung up on. They promised to update my credit report with the payment made and I even tried disputing it with the credit bureau. The only thing MCM did was add another $1 to my account after I had already paid the entire balance!!

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