Defend Collection from Midland Funding LLC

May 18, 2020

Defend Collection from Midland Funding LLC

If you have received a Notice from Midland Funding LLC, or if they have appeared on your credit report, do not ignore it! Use the below information and helpful tips in order to navigate how to deal with their collection efforts.

Who is Midland Funding LLC?

Midland Funding LLC is one of the largest debt buyers in the nation. If the following apply to your account, it may be purchased by Midland Funding:

(1) At least 180 days have passed without payment; OR
(2) Less than the minimum due has been paid for the last 180 days; AND
(3) Your original creditor wishes to sell their right to collect

If you have received a collections notice, it may have been sent by either Midland Funding, LLC or Midland Credit Management, Inc.

Midland Credit Management, Inc. is the collection company that services Midland Funding, LLC accounts. This means that Midland Credit Management is who deals with consumers directly to collect payment.
Once your account is purchased by Midland Funding it will not be resold. Midland Funding has a policy not to resell accounts per their Consumer Bill of Rights.

What Should I Expect Next from Midland Funding LLC?

Upon purchasing your account, Midland Funding will send you a Notice of Transfer and Debt Validation, along with options for resolution of the account. This letter should notify you that Midland Funding has purchased your account and include the name of your original creditor, the last four of the account number and the current balance owed.
If you receive this Notice, you may dispute the validity of the debt. The first thing you should do is review the claim to see if this is a debt that you recognize. If it is not, you should notify Midland Funding as soon as possible, but no later than 30 days after receiving the Notice.

If this Notice goes unanswered, Midland Funding will likely attempt to contact you via telephone. They will likely be calling from a number you do not recognize and will not leave a voicemail. It is Midland Funding’s policy not to leave voicemails in order to protect consumer privacy.

If you do not wish to continue receiving phone calls, you can answer the phone and request that they cease contacting you. If they continue, they may be in violation of your rights. Contact one of our debt harassment lawyers at Attorney Debt Fighters for an evaluation of your claim.

After multiple attempts to resolve your account balance, Midland Funding will send you a notice informing you that the next step in the collection process is to refer your account to their lawyer. This means that Midland Funding intends to bring a lawsuit against you to collect on the past due account.

If your account is being referred to their lawyer, or if you are served with a lawsuit, it is best to seek your own representation. An attorney can accompany you throughout the court process and assist you in working out a settlement with your creditor.

What Options Do I Have To Resolve My Account with Midland Funding, LLC?

Midland Funding often works with consumers, through either discounts or payment plans, who experience financial hardship in order to reach a resolution that the consumer can afford.
The below hardship is taken into the most consideration when dealing with Midland Funding:

(1) Active service members;
(2) Medical issues causing serious financial hardship;
(3) Natural disasters; and
(4) Where a consumer’s only income source is exempt and the consumer has no other assets

While they provide the above in specific, Midland Funding is still sensitive to individuals who are experiencing job loss and other unforeseen circumstances.

If you are experiencing a change in your financial circumstances, it is best to reach out to your creditor or an attorney to see what options you may have.

If you do reach an agreement with Midland Funding on either a discounted balance or payment plan, all payment arrangements should be confirmed in writing by your creditor.

Why is Midland Funding, LLC On My Credit Report?

If Midland Funding has purchased an old account of yours, they will likely begin to show up on your credit report. However, Midland Funding luckily has specific limitations on how they report debt to credit bureaus.
Midland Funding, LLC may appear on your credit for up to 7 years from the date when your account was charged-off with your original creditor. The transfer of ownership from your original creditor to Midland Funding should appear on your credit report.

Midland Funding is one of few debt buyers who automatically stop credit reporting under certain conditions. They do so in the following instances:

(1) Where payments begin within 3 months after the account is transferred to Midland Funding and payments continue
(2) Where accounts are paid in full or paid in full for less than the full balance; AND at least 2 years have passed since the date the account was charged-off.

You can read more about Midland Funding’s credit reporting policies here.

If you have questions or need assistance in a collection suit with Midland Funding, LLC, you may contact our office to see what options you may have to resolve your debt.

author avatar
Michael Ziegler
Ziegler Diamond Law: Debt Fighters, provides effective legal services to consumers in Clearwater, Florida, and throughout the Tampa Bay area who are facing home foreclosure, unmanageable debts, debt collector harassment, or other debt-related problems.

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About the Author

Ziegler Diamond Law: Debt Fighters, provides effective legal services to consumers in Clearwater, Florida, and throughout the Tampa Bay area who are facing home foreclosure, unmanageable debts, debt collector harassment, or other debt-related problems.