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Hi, I received a "Pre-Legal Notification" letter from Midland for a Synchrony debt of $6,270.26. I've seen a lot helpful information in these forums but as my state is North Carolina I thought it might be helpful to get state specific responses. After reviewing the letter and the information I've found on this site my tentative plan is as follows: 1. I'm within 30 days of receiving this letter so the first step I was wanting to take was request for Debt Validation. I'm not sure if that means they show I am who they think I am AND that the debt is valid. Otherwise, I'm thinking that these might be two separate issues? As this is my first letter from MCM I think it's good sense to make sure they are truly the debt buyers of a debt I owe and in the correct amount (It looks about $1200 higher than the debt I believe it's in reference to) Assuming they are truly entitled to this debt and the debt is undoubtedly mine, then I assume they will consider suing me for the amount. If this does happen, I think my best course of action would be to use the arbitration clause that appears to be in my original card holder agreement (2016 synchrony). Again assuming everything is on the up-and-up, my last payment to Synchrony was on Feb 11th of this year (it was already delinquent); not sure if that means I'm really under the 2018 (when the account first went delinquent) 2019 (when I last made a payment) the original 2016 card holder agreements. My mindset is as follows: I've had changing financial circumstance that made the account, and other credit card accounts, I had too much to handle keeping current. My general approach has been to work with my creditors in the order I can as best I can. The order I came up with was based on the ethical sense I get from my interactions with them. I'm happy to report that I've already cleared the debts from creditors that were willing to working with me. Synchrony has been at the bottom of the list. Their high interest rates, and immediate moves to intermediation style techniques being the reason for this prioritization. Seeing that they've elected to sell my debt to the morally bankrupt MCM who sends bolded "maybe...WE'LL SUE YOU" style letters I can't say I'm surprised. Sorry for the missive but I felt it was necessary to show that it's not a unwillingness on my part to pay my debts, but Synchrony's and now MCM's behavior that has made any dealing with them out of the question. More generally, I don't think predatory companies like MCM should be met with anything else but what they give: namely, hostility. :-) Any NC specific help on trying to price out my the worth of MCM pursuing my debt would be greatly appreciated. Keep up the great work I'm seeing here! Thanks, Joshua
So long story short. I fell on really hard times at the end of last year job loss for a few months. I had stopped pay my credit cards. once I found employment some creditors decided to help me out and some did not. Hence, I have been receiving letters from Midland for the past two months about a Synchrony Bank ($4,000) account that was charged off in January of this year . Last week I got a Final Pre Legal notification stating that they are moving my alleged account to an attorney review process. From this boards experience with them how long before the sue? I would rather resolve this before it gets to court as I have no experience in legal affairs.How much would they typically settle for?
Hi, Im shopping someone can help me... I'm in Arizona. I was served by Midland Funding on the 8th (well, not me personally, but they left the paperwork with someone who was in the house). They are suing me in Superior Court for a nice amount for a credit card I used to have with a credit card company and stopped payments almost 2 years ago. their exhibit A : -an affidavit from a media representative of the credit card company saying that they sold a pool of charge off accounts by a purchase and sale agreement and a Bill of Sale to Midland Fnding. -the Bill of Sale -purchase price reconciliation/funding instructions -affidavit of sale of account by original creditor then there is a page with a few numbers of my original account number, my name, last name, last 4 of social, address, contract date, charge off date, balance, last purchase date then it's page of my billing statement- like what you get in the mail when your monthly payment is due. its the statement from May 2018.and also one from December 2017. their exhibit B: -its an affidavit from a "legal specialist" and it reads: "1- i have access to pertinent account records for Midland Credit Management, Inc., servicer of this account on behalf of plaintiff....plaintiff is thew current owner of, and/or successor to the obligation sued upon, and was assigned all the rights, title and interest... I have access to and have reviewed the electronic records pertaining to the account maintained by Midland and am authorized to make this affidavit on plaintiff 's behalf. The electronic records reviewed consist of data acquired from the seller when plaintiff purchased the account, together with records generated by Midland in connection with servicing the account since the date the account was purchased by plaintiff. 2- I am familiar with and trained on the manner and method by which Midland creates and maintains its business records pertaining to this account. The records are kept in the regular course of business. it was in the regular course of business for a person with knowledge of the act or event recorded to make the record or data compilation, or for a person with knowledge to transmit information thereof to be included in such record. in the regular course of business, the record or compilation is made at or near the time of the act or event by Midland as a regular practice. 3- Midland's records shows that defendant owed a balance of.... 4- defendant opened account on.. and it was charged off on.. 5-account was sold to Midland on or about 'date'. So that is the summons I got. any help would be appreciated. If they get the judgement against me, I will probably have to declare bankruptcy, because 25% of my salary, would not allow me to pay my mortgage, or car..or food... any help is appreciated thank you
Hi. I got a call and a few days later a form letter from MCM (Midland) on a debt that is time barred (past SOL by a few years now) giving me 3 payment options. They admit near the bottom "The law limits how long you can be sued on a debt. Becasue of the age of your debt, we will not sue you for it. If you don't pay the debt, we may continue to report it to the CRA as unpaid." There was a class action suit against them a few years ago and I later got a postcard from the attorneys saying that I could join and get $1000 off of my account so it didn't make sense to do it. It would seem to me that if they used the money to pay down the account it would start the clock over again for SOL. 1) Is this some kind of trick or new tactic that they are trying to reinstate it, or file suit later? 2) The fact that they are trying to collect on a SOL barred debt constitue violations of the FDCPA? 3) Can they report this to the CRA's still or is it a violation to do that, when does their abilty to report expire? 4) Is there any action I should take at this point? A DV letter or Cease and Desist or?