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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?