Midland
Date: Mon, 11/02/2009 - 20:07
We had a washington mutual card that was sent to collections in the early year. In June we signed up for careone to hopefully save the sinking ship. So far we have been making good progress however the waashington mutual card was sent to another CA and I didn't follow up as I should have.
We recieved a letter last week from Midland credit stating they purchased the debt. The original debt was approximately $3300 and they want $3800. I called them today to feel them out a little. I didn't acknowledge the debt but I did ask if they would be interested in settlement or payments. They said that they would only accept $500 a month payments or a settlement at once.
We are closing a 401k to get about 2,000 to pay off some of our dumb debt from earlier. We won't have this money until late december or january.
I told them I could send them a $100 or so and that I would be able to settle the account in december or january. I didn't give them too many details. They wouldn't accept this and told me the debt was leaving their office for an attorney november 28th if I didn't give them atleast $500.
This was very frustrating. I am thinking that my next step should be to send them a debt validation letter via certified mail return receipt so that I can buy some time.
I thought about adding them to my careone plan however I don't believe careone sending them $100 will change anything.
Any advice?
We recieved a letter last week from Midland credit stating they purchased the debt. The original debt was approximately $3300 and they want $3800. I called them today to feel them out a little. I didn't acknowledge the debt but I did ask if they would be interested in settlement or payments. They said that they would only accept $500 a month payments or a settlement at once.
We are closing a 401k to get about 2,000 to pay off some of our dumb debt from earlier. We won't have this money until late december or january.
I told them I could send them a $100 or so and that I would be able to settle the account in december or january. I didn't give them too many details. They wouldn't accept this and told me the debt was leaving their office for an attorney november 28th if I didn't give them atleast $500.
This was very frustrating. I am thinking that my next step should be to send them a debt validation letter via certified mail return receipt so that I can buy some time.
I thought about adding them to my careone plan however I don't believe careone sending them $100 will change anything.
Any advice?
IMO you must fire them a debt validation letter before arranging
IMO you must fire them a debt validation letter before arranging any payment. Search the site for a template. You have done right by not authorizing any payment over the phone. Simply ask them to validate the debt, mention that you don't recognise it and wait for their response. If they try to contact you before responding to the DV you would then have a case of 1.
Search this creditor in the site. I'm sure you would find more information on them.
