Are you being contacted by Midland Funding LLC? If so, it is regarding repayment of a debt. Midland Funding is one of the largest junk debt buyers in this country and an affiliate of the Encore Capital Group. They will collect on the many types of debts including: credit card charge offs, delinquent medical bills, utilities, cell phone services, and more.
Did you know Midland Funding is notorious for filing civil lawsuits for repayment of a debt? This means they’ll often file a lawsuit to collect on a debt. Legal experts estimate that up to 90% of lawsuits filed by debt collectors result in a default judgement.
A default judgement means the consumer did not show up in court to defend themselves. And the judge was forced to find in favor of the collection agency by default. If Midland Funding LLC is able to get a judgement against you, you can potentially have your wages garnished and even liens placed against you.
Your credit score will be demolished with a judgement on your credit report. This is one of the most derogatory items to have on your credit, just short of a bankruptcy.
Midland Funding LLC Is Suing You?
There are many allegations that Midland Funding is illegally suing consumers for repayment of a debt. There are even State Attorney General’s suing Midland Funding LLC for filing fraudulent lawsuits against consumers.
The most common complaint we have seen, is several Attorney General’s from Minnesota, West Virginia, and Ohio claim, that Midland Funding LLC is signing and filing fraudulent affidavits. The affidavit is what proves the existence of your debt.
This is what the court uses as evidence of your debt account. There was an employee of Midland Funding that testified in court that he was responsible for signing up to 400 affidavits daily! This testimony confirmed that Midland Funding was acting fraudulently and illegally!
Midland Funding LLC
8875 Aero Drive
San Diego, CA 92123
Phone number: 1-858-309-6970
6 Steps To Protect Yourself
What to do exactly is going to depend on what steps Midland Funding has already taken against you. If you follow the three steps below you can protect yourself, your credit, and your pocketbook.
1. Statute Of Limitations
The statute of limitations is a state law, and it does vary, so for full details investigate your local listings. This state legislation says exactly how long you’re legally responsible for repayment of a debt. Most debts accounts, consumers are only legally responsible for repayment for typically seven years.
Once this time-window runs out, the debt is legally forgiven. This applies to most types of debt including credit cards, charge offs, retail, utilities, healthcare, telecommunications, and much more. The few exceptions include defaulted federal student loans, and federal income tax.
Warning. The debt collection industry is notorious for illegally re-aging consumer accounts. For obvious reasons, so they can continue to attempt to collect payment. Please, investigate the statute of limitations before taking any action on payment.
2. They Have a Judgment Against Me
If Midland Funding LLC has a judgement against you. We recommend you get professional credit help from expert credit lawyers immediately. This is a very serious matter and depending on what state you live in, you could have your wages garnished and liens placed against you for repayment.
3. Midland Funding LLC Is Suing Me
Are you are being sued by Midland Funding LLC? The most important thing you can do is, show up for your court date! If you have a scheduling conflict you shouldn’t have a problem requesting a different court date. If you are not in a financial position to make payments, it’s no problem! You should still go to the court hearing and defend yourself.
If you don’t, then the judge has no choice but to find in favor of Midland Funding LLC and find you responsible for repayment. This is precisely what debt collectors hope for when they sue you. When consumers don’t show up to defend themselves, the collection agency wins automatically.
If your dealing with Midland Funding LLC, please be cautious. There are many reports of unethical and illegal behavior! Not to mention, local authorities taking action against this collection agency. You don’t have to hire a professional credit repair company, but it may be to your benefit.
4. Request Debt Validation
The very first step to negotiating with Midland Funding is to first request debt validation on your alleged debt. This is your consumer right granted by the Fair Debt Collection Practices Act (FDCPA). This federal legislation is intended to regulate the debt collection industry.
When you request debt validation, you’re essentially saying prove this is actually my account. After all, we didn’t do any business directly with Midland Funding. It’s most effective to make your request in writing, and send it using certified mail, return receipt requested.
This way you’ll have evidence of your validation request, and they received it. You see, they’re required to respond by providing you with the documents, paperwork, and evidence that does prove this is your debt.
If they fail to validate your account, then in accordance with the FDCPA, the debt is forgiven. As in you’re no longer legally responsible for repayment. Further, they’re supposed to contact all three of the credit bureaus to start getting collections off credit report files, because it’s damaging your creditworthiness.
5. Negotiate a Settlement Agreement
If your account is validated, and within the legal time-window, our next step is to negotiate a settlement agreement directly with Midland Funding LLC. There are two parts to your agreement, and it’s best to get this in writing.
First, always negotiate to pay off collections for just a fraction of the total balance. Often, you’ll be able to negotiate to pay as little as 15% up to around 45% of the total balance. For example, with a $2,000 debt, you may be able to settle for just 25% or $500.
The second part of your agreement is mission critical, we must get Midland Funding to agree that in exchange for our payment, they’ll stop reporting our account information to all three credit bureaus. If we overlook this, we’ll get stuck with a paid collection on our credit reports. This is a negative, damaging, derogatory credit report item, that’s going to cause a bad credit rating.
6. Dispute Collections On Credit Report
In this final step, we’re looking at how to dispute collections on credit report files, because this is how we’re going to clear your credit report. To do this, we’ll need to exercise more of your rights as a consumer, this time those granted by the Fair Credit Reporting Act (FCRA).
This federal legislation says we can challenge and dispute any items on our credit reports, so long as we believe they’re inaccurate, misleading, or made in error. And yes, we’re going to dispute the Midland Funding collection item. There’s three ways to dispute items on credit report files: online, over the phone, and by mail.
Once the credit bureaus get your dispute, the first get to deem it valid or frivolous. Which is another conversation for another time and place, so make sure to sign up for our free newsletter for more credit restoration tips, techniques, and strategies with Dan Willis.
Once the credit bureaus get your dispute and deem it valid, they’re required to investigate the item. They’ll call it a re-investigation. Nevertheless, they’ll contact Midland Funding and request verification of your account. As per your settlement agreement with Midland Funding, they won’t verify your account when the credit bureaus investigate.
In compliance with the FCRA, this means the credit bureaus must remove this item from your credit reports. This is how to clean credit report dings, blemishes, and remove negative items. And do so legally, by exercising your consumer rights.
At the end of the day, your credit score is a lot like your Grade Point Average (GPA) in glory school days bygone. It doesn’t matter if you’re acing all your classes if you’re failing Gym. That negative mark is going to ruin your overall GPA.
This principle is also true of your credit score. FICO is very open about sharing this fact. This is why it’s of paramount importance to remove credit report dings, blemishes, and negative items.
This is how to get your credit score up quickly, legally, and by exercising your consumer rights. We encourage our members to consider professional, legal, and legitimate credit restoration companies because, in 2016 alone, over 9 million negative items were removed from consumer’s credit reports.
One of the best firms is the Credit Pros. They’ve helped client’s successfully remove collections, late payments, charge offs, judgements, liens, and so many more negative credit report items.
Get a free credit consultation with a certified FICO professional by calling toll-free 1-877-418-7596. And for more tips, techniques, and strategies to fix credit with Dan Willis, sign up for our free newsletter, and join our congregation.
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