I've begun taking the necessary steps towards credit recovery and last week sent out a couple DV's & a couple of PFD's...one of which was to Midland Credit Management. I send the letter (below) certified mail, return receipt - and the same day I received the delivery receipt I received a settlement offer, but the date on their letter was 2 days before the date mine was written. My questions is do I respond to their settlement offer (which was only $1.99 more than what I initially offer) with another PFD, or wait to see if they respond to my PFD?
Also - has anyone had any luck with PFD's with Midland?
All insight is appreciated!
I have recently viewed a copy of my credit report and found that your agency is reporting a collection account in my name, account #853430XXXX (the credit report does not list the full account number) in the amount of $337. Please be aware that that this is not an acknowledgment or acceptance of the debt as I have not sought validation of the account listed above, but an attempt to settle this alleged debt and save us both time & effort required by the validation process.
I am aware that MCM has the ability to report this debt to the credit bureaus as you feel necessary. I am also aware that you also have the ability to change or remove the information all together.
I am willing to pay the debt in full in return for your agreement to remove any and all information regarding this debt from the credit reporting agencies. If you agree to these terms, I will immediately send certified payment in the amount of $337 to Midland Credit Management and in exchange, will expect prompt removal of all information regarding this debt from all credit files and reporting agencies.
If you would be as kind as to accept this offer, please prepare a signed letter on your company’s letterhead stating that upon receipt of payment, Midland Credit Management will remove all information regarding this account from all credit files and credit reporting agencies and send it to me at the address listed above. If I do not receive a response within 30 days of the date listed above, I will assume that the offer is rejected and I will begin the validation process.
I sincerely thank you for your valued time and look forward to hearing from you so that we may resolve this matter amicably.
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.