Where do I begin?

A Charge-Off is an action a creditor takes when an account appears to be uncollectible and goes for a long period of time with no payment and no contact with the debtor. They write the account off as a bad debt, but you get zinged on your credit report when they do.

I would contact either midland credit management or Verizon and request a debt validation on both of the items showing up on your credit report.

So, it would be in my best interest to pay off the debt? renegotiate with the company to get it off my report?

You need to contact the original creditor and find out all the details. If they have charged off the account, more than likely they have sold the account to a collection agency. Send Midland Management a debt validation letter making them prove they have the account.

where can I get a sample of the validation letter?

Wow , You guys are great!

Go here

http://www.debtconsolidationcare.com/forums/about11288.html

The DV letter is to be sent to Midland who is collecting on behalf of your creditor. If you can make arrangement directly with the creditor, you won't need to deal with Midland. Send the letter certified and return receipt requested for proving your attempt.

If the account is already sold by Verizon, both the accounts will be listed in the CR. Verizon will show the account with a zero balance and Midland will be the current creditor holding the same account.