Debt collection offer letter from MCM

Contact with the collection agency and try to settle the debt on your own. But it depends on their discretion whether or not to agree with you for settlement. Debt settlement will help you to reduce your debt by certain amount. Look at this page to know how to do it yourself:
http://www.debtconsolidationcare.com/steps.html

You need to do a few things now. Send a debt validation letter to the collection agency. If they do have legal ownership of the debt, you can enter into negotiations. Explain your financial situation and the hardships that you are facing and they might lower the debt balance further.

Was the debt "sold" or "assigned"?? A lot of people mix these terms up. They mean very different things.

Thanks all,

The letter clearly says that mcm "purchased" the debt from citibank.

T Ars

I'd check out who this MCM company is.
MCM IS MIDLAND CREDIT MANAGEMENT...THEY HUGE....IF YOU KNEW ANYTHING ABOUT COLLECTIONS YOU WOULD KNOW WHO THEY ARE.
In our state to collect you have to have a permit.
IT IS CALLED A LICENSE, NOT A PERMIT. AND YES, THEY ARE LICENSED
Some people download those templates and they look just as professional.
THE LETTERS ARE REAL
Secondly I'd check with Citibank again and have them to validate that the account even existed.
THE ORIGINAL POSTER STATES "MY CITIBANK ACCOUNT...
Have them mail or fax something to you.\
WHO??CITIBANK?? THEY SOLD THE ACCOUNT...THEY AINT GOING TO FAX OR MAIL ANYTHING
Then check ftc.gov. They have some kind of "red flag rule" that credit card companies, banks etc (?) have to abide by to make sure cards and accounts get to the right individuals. I guess its a way to reduce fraud and theft.
ARE YOU JUST MAKING THIS UP????

Hi, I called up this MCM, people are answering from India. At least this guy was not rude. He was firm on the amount and said he can give 2 months to pay off. He said he cannot provide any further offer.

I tried to negotiate for a settlement and he refused to accept my offer.

He said he will be adding 6% interest on the principal amount every month.

Can they charge interest?

Any help in settling this account would be greatly appreciated.

Ars

I have been going through a similar situation with MCM for a few years now. They call and want me to pay in full or monthly installments that will pay off a $3000 debt in 6 months or 12 months. I have been telling them to send me a paper bill in the mail and i will pay what i can every month as long as i get something in the mail. Well today i got another call and the woman was suprisingly polite. I told her what i have told everyone else that has called and her responce was "great"
Here is the contact information to the AMERICAN female i spoke with this morning: Lisa Odoms 1-800-265-8825 ext 23196
it is worth a shot to try her out.. at least you will be able to understand what she is saying!

Quote:

Thank you, I will try that number.

The best way to deal with mcm is to take them to court and prove the debt is a legal debt, make sure and do the cease and decist, and the debt is out of statue of limitations. Just sue them in your local court for 1000.00 per offense, that could be into the thousands of dollars. Once you recieve your judgement, send a lien order to all the banks in san diego. You will be paid fast.

Hello Everyone,

I couldn't stand the stress and after a long negotiation I settled this account for 40%.

I received a confirmation letter that there is no balance owed. I will have to wait to see the report changed.

Thanks everyone,
Ars

You did that without even knowing the account was yours?