Pre-Legal Notification from Midland (MCM) RE: Synchrony Bank (Amazon) as OC

[vikingjosh2003]

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

[Harry Seaward]

I wouldn't bother with a DV. The debt is yours and they own it. Best thing to do is lay low and wait to be sued. At that point you can use arbitration.  Midland will dismiss the lawsuit and you walk away.