Certified Letter Returned - Midland Credit Management

Looks like a bad address. Re-send your DV letter to one of these addys:

San Diego
8875 Aero Drive Suite 200
San Diego, CA 92123
Phone: (858) 560-2600
Toll Free: (877) 445-4581

Phoenix
4302 E. Broadway Rd.
Phoenix, AZ 85040-8808
Phone: (602) 707-0211
Toll Free: (800) 265-8825

St. Cloud
16 McLeland Road
St. Cloud, MN 56303
Toll Free: 800-265-8825

I just pulled these off of their website at: www(dot)mcmcg.com/about/locations.htm

Thank you very much unclewulf . i will send another cert letter.

And anyone help on what to do with this issue too. I left a note in another forum.

I return the car and they put on my credit voluntary repo. The loan wasn-house financing from the user dealership. I had 8,000 left to pay on the car. And that what show on my credit report. But that was 1-2 years ago. If he sold the car. Do i pay the difference or I still have to pay the full payment I'd owed when i sent the car back to them. If so what is neeed to be done to find out the correct sum I am to pay to fix this issue. If im to send a letter which letter DV? This big ding on my credit is really hurting me. Thank you for the help.

All i really need to know is which letter to send to get all this info. I just need to make sure it the DV letter. Because 30 is a while to wait to find out i sent the wrong letter ,lol

ty
Cpluse2

When you return a car the finance company sells it at public or private auction, keeps any costs of selling it (tow, auction fees), and applies the rest to your outstanding balance. If there is a credit balance, then they owe you a refund; If there is a deficiency balance then they can come after you for it.

Before I go further, I want to be clear on one thing ... did Midland finance your car? Or are they a collection agency? That will determine whether the fdcpa applies to them or not -- If they financed it, then a DV may do nothing.

Either way, you would have a right under the FCRA to dispute your tradeline and request verification of the balance they are reporting to the bureaus. They have a duty to at least look at the account and make sure the numbers/dates add up to what they are supposed to.

You should request an accounting of the balance. They should at least be able to give you a printout of the account ledger. There are several things you should look for:
1) You want to see a credit posted for sale of the vehicle. How much did they sell the car for? Does it seem reasonable, given the vehicles condition when you returned it? If you think it is too low, then you should request to see the bids or auctioneer's receipt. If all they did was call Victory Auto Wreckers and sell your car for $50 without getting bids, then that is probably against the law in many states.

2) You may be entitled to certain credits or rebates. a) If the contract was precomputed (Rule of 78ths), and had not yet matured, then they should have credited you with a finance charge rebate for the unearned interest. b) If you bought a warranty with the car, or if you bought CL/AH/GAP Insurance on the loan, then you should see refunds credited on your account for all of those product cancellations.

If they can show you the ledger, and it adds up to what it should, then the only way to clean up your credit is to pay them. Since the account has been charged off you can probably offer 75-85% to settle and they will take it.

See i turned the car back in to the dealer. Handed them the keys. 2 years later i see the same price i had left on paying off the car on my credit report.

I understand everything you said what I should do. But not sure if an account of the balance is the same as a DV letter, just with a couple more lines added.

Say i go thru all this and say the information is not correct of what they posted to the credit Bureaus. Do i just make copies of the info and send to the credit Bureaus and req them to fix the info or investigate them to have the correct data before i start paying it off.

I feel like im fighting a war but it's feels good to have all of you on my side in this battle , I am truly grateful for all your help.

Cpluse2

I understand everything you said what I should do. But not sure if an account of the balance is the same as a DV letter, just with a couple more lines added.

Update...


Ok funny thing happy. I sent the DV letter to midland credit management, and it was return. As i thought i sent it to the wrong address. Well preparing to send another letter i get a special offer to resolve a unpaid account.

Now it says i have a current balance of $583.91 for SouthWestern Bell

But they gave me options to choose.

Option 1: 40% off -Pay only 350.35

Option 2: 20% 6 monthly payments of only 77.85

Option 3: $50.00 per month.

1.Ok they also have here that they will stop applying interest to my account.

2.Your credit report will be updated with the payment made.

3.Once you make your agreed upon payments to settle your account, your credit report will be updated as "Paid in Full"

Also there is a little print with a * that say's "Your credit report will not be updates if the federal reporting period has expired, or we have not previously reported on this account.

Now this sounds good. But should i send a letter stating that if i pay off the account they should remove it from my credit report or Paid in Full is enough to improve my credit on the blemish. Would it be better to get it removed or Paid in Full is ok. Also is there anything else to make sure i have proof all this will happen if i pay this off. But this is funny how they return my cert DV letter and I get one from them a few days later.

I am not an expert on this matter whatsoever so you can take the advice for what it is worth. You need to tell them that you will pay them if they remove it off of your report and make sure you keep this correspondence from them so you have proof.

Do not tell them you'll pay them, or anything of the sort. Send them a DV letter instead. Understand this, Midland is scum. You trust them at your peril.

Exactly you have a better chance of trusting Bin Laden than you do Midland.

Exactly you have a better chance of trusting Bin Laden than you do Midland.
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I'm still lol from this. Well i send another DV letter, and go from there. Thanks again for the help.