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Midland Credit Managemement..."pre-legal" letter...advice?

Date: Sun, 01/30/2011 - 05:55

Submitted by intoodeep77
on Sun, 01/30/2011 - 05:55

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Total Replies: 1


I got a letter from MCM...a 'pre-legal' letter. It says to pay X amount or call them by this date...or it may go to an attorney. Has my credit card company...credit card number...approximately correct amount. I wasn't able to pay my credit card bills for a while...so they closed it and sent it to collections...it was with another collections agency...but it looks like MCM bought it. MCM is now on my credit report too.

The date is fast approaching and I don't know what to do. I wasn't aware of the whole debt validation letter thing and it has been more than 30 days since they sent that first letter.

Do I just call and try to settle? I was told on another forum that I should just get ready to go to court as MCM is sue-happy...that they don't settle for much less than the full debt amount...that I'm basically screwed.

Any advice? Thanks!