How to Remove Midland Credit Management From Your Credit Report
Midland Credit Management, Inc. (MCM), also known as Midland Funding, LLC (all companies of Encore Capital Group, Inc.), is a San Diego-based debt collection firm. Midland was established in 1953.
Midland may appear as a collections account on your credit record. This can occur if you owe money to a creditor and they’ve hired somebody to collect it.
They might appear on your credit record as the following entries:
- mcm credit
- mcm midland credit management
- midland credit
- midland collections
- midland credit mgmt inc
- midland management
- midland fund
- midland funding
How to Remove Midland Credit Management From Your Credit Report
Collections can lower your credit score and stay on your credit record for up to seven years, whether you pay them or not. Paying the collector may actually harm your credit score.
This may impact your future capacity to get credit, such as an auto loan, credit card, or mortgage. However, a collection account might be removed from your credit record in 7 years.
Lexington Law is a skilled credit restoration firm that assists customers in repairing their credit.
In addition, Lexington Law may assist you in disputing (and perhaps removing) incorrect info from your credit report. Inquiries, unpaid bills, charge-offs, foreclosure, consumer debt, judgments, liens, and bankruptcy are examples of these items.
Steps You Can Take To Remove Midland Credit Management From Your Credit Report
There are several options available to you if you have a bad record on your credit report from Midland Credit Management (MCM). Try these four removal methods.
Step 1: Demand Written Communication Only
Midland Credit Management is a debt buyer known for abusive debt-collecting techniques. This includes breaching promises made to customers over the phone. They do this because proving what you said during your chat is tough. To avoid this, inform Midland Credit Management (MCM) that you only wish to converse in writing.
You are legally allowed to do so under the Fair Credit Reporting Act, and you should make your request in writing as soon as feasible. They should begin sending things by mail. Alternatively, you can report them for unethical behavior.
Try to submit this letter within thirty days after the first hearing from Midland Credit Management. It’s critical to respond promptly since your chances of having a bad entry erased from your credit report drop after the first thirty days.
Step 2: Request Validation of the Debt
Write a debt validation letter next. This is a request that must be submitted within 30 days of your initial contact with MCM. Their job is to demonstrate that the debt is yours and that the account information is correct.
Midland Credit Management (MCM) purchases debt from other firms. Therefore their data may be erroneous or incomplete. If they do offer you documentation of the debt, check sure all of the information is correct. For example, if any dates are erroneous or past payments are not included, you can request that the incorrect information be removed from your credit report.
Step 3: Make a Deal With Midland
If Midland Credit Management validates your debt, you have the option of settling the amount owed. This implies that you might pay less than the whole amount owed in exchange for the debt being resolved and erased from your credit record.
However, it is critical to acquire the agreement in writing. Otherwise, you risk the collecting agency breaking its promise. You can make your payment after you have a formal agreement on how you want the settlement handled.
To complete this third phase, compose a third letter offering a bargain! In exchange for Midland Credit Management being erased from your credit report, offer to pay a certain proportion of the total debt, such as 30% to 50% (the amount is entirely up to you).
Remember, you should never conduct this sort of deal over the phone.
If the corporation agrees to your requirements, send them a cheque and avoid allowing them access to your bank account. Wait thirty days before sending a final letter requesting the corporation to confirm that the bad record has been removed from your credit report.
If you build up a payment plan, obtain the conditions in writing — and do your bit to stick to the terms. Midland Credit Management may pay your cheques and then refuse to admit that you made a purchase. Midland Credit Management would remain on your credit report. The primary lender may also appear.
Step 4: Get A Professional To Help You
Dealing with debt collectors and credit bureaus may be a difficult and time-consuming procedure. You may avoid difficulties and even overlook essential terms in an agreement by outsourcing the task to a professional credit repair service.
They know the law and also what MCM can and cannot do. They also understand how to use the system to increase your chances of having those bad elements deleted. Furthermore, it may save you a lot of time and frequently produce greater outcomes than tackling it alone.
Is Midland Credit Management going to sue or withhold my wages?
Wage garnishment is legal in certain states but not in others. It is crucial to remember that threatening to garnish your income is illegal if you live in a state that doesn’t allow wage garnishment.
It is conceivable, but you will have no worries if you deal with a law company like Lexington Law. They will assist you in disputing the collections account and perhaps having it removed from your credit report. It’s also feasible that you’ll never hear from or interact with Midland Credit Management again.
Contact Lexington Law to find out how they can assist you in avoiding litigation and removing negative things from your credit record, which can greatly enhance your credit ratings.
Final Word
In the United States, there are strict rules governing what a collection agency may and cannot do. The Fair Debt Collection Practices Act prohibits the employment of abusive or fraudulent debt collection practices. Furthermore, the FDCPA gives you several rights to guarantee that collection firms do not reap your benefits of you.
The Consumer Financial Protection Bureau (CFPB) & the Better Business Bureau have received several complaints about collection companies (BBB). The majority of consumer complaints include erroneous reporting, harassment, or a failure to verify a debt. If you find yourself in any of these circumstances with a debt collector, you might think about filing a complaint.
Underneath the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act, you have several consumer rights (FDCPA). Lexington Law & Midland Credit Management understand that you have rights.
