Wetsch & Abbott PLC Attorneys at Law
974-73rd St, Ste 20
Des Moines, IA 50312
RE: Creditor
Then it goes on to say that they are writing about a debt to Midland Management (a debt I originally had with an Exxon mastercard in 2002). The amount they want is 335, and my balance is 841.89 (the last settlement offer amt) but does not directly say that it will be considered closed. What is this? Are they getting ready to sue me?
2007-10-25 11:56:48 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
This has been on my credit report since 2003. I just haven't been able to pay it off.
2007-10-25 12:12:18 · update #1
Your account has been purchased by a debt buyer. The debt buyer referred the account to a collections law firm. If the law firm is in your state, there is a very good chance they will sue you within the next 2 months. If you pay them what they request ask for a letter from them that the account is settled in full. You should also look at the statute of limitations in your state.
2007-10-25 12:31:59 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Midland Management is a low-level debt collection agency. They buy millions of dollars in debt for pennies on the dollar.
Wetsch & Abbott PLC Attorneys at Law is a legitimate law firm that seems to specialize in debt collection.
Looking at the facts as you portray them.
1. This is an old debt.
2. This debt was not considered collectible by Midland
3. The total amount of the debt is under $1000
Number 3 is important because reasonably speaking it is not worth their while to take you to court for that sum of money. You are already five years into a debt, if you let it go 2 more years it will automatically be removed from your credit report UNLESS they take legal action against you before the statute of limitations runs out. I think the chance of them taking this to court is very slim and if they do you will have a chance to explain your viewpoint to a judge (i.e.; you have had to endure years of harassing phone calls and threats from creditors.) You may be surprised that judges aren't favorably impressed with credit collection lawyers and can be sympathetic to an honest person who is trying to do the right thing.
The matter to take into account is that this debt is going to hurt your credit rating for the next two years. If you can live with that then let the clock run out. Otherwise wait and see what they will do - do NOT except their offer of settlement. If they take you to small claims court, let a judge decide what the settlement should be. Too many times people settle with dubious companies only to find that the same firm will come after them again and again for the same debt.
Good luck and don't worry - you have more going for you than you think.
2007-10-25 12:52:45 · answer #2 · answered by ? 2 · 0⤊ 0⤋
Did you default on the debt in 2002? The Statute of Limitations (SOL) may be expired. Check for your state: http://www.fair-debt-collection.com/SOL-by-State.html
And it will be on your credit report for another 2 or 3 years. It's old enough that it isn't making that big an impact on your score; however, it still is bad on your credit.
At this point, you might be able to get them to settle for $200 if you can come up with a lump sum payment. Do not call them. Send them a letter offering $200 in full settlement of the account. Tell them that upon receipt of their written agreemment to accept, you will send them a check.
2007-10-25 12:47:56 · answer #3 · answered by bdancer222 7 · 0⤊ 0⤋
This is a standard collection agency practice, to use an attorney's name & address to collect. For the small amount of your debt, it would not be worth their while to take you to court. This will, however, be a bad mark on your credit record.
2007-10-25 12:01:39 · answer #4 · answered by Anonymous · 0⤊ 0⤋
sure it relatively is criminal. you may desire to latest this difficulty to N. ability, on your section. If it relatively is a meter analyzing , out of your domicile, or from a Parking violation, then you definitely ought to be in charge and pay it. somebody can acquire your handle, in the event that they are good investigators. The longer you enable this to flow unpaid, the greater they might upload on on your owing stability. call them and set up a fee Plan. this might flow on for ten years or much less, earlier they'll supply up billing you. huge organizations, have approaches of monitoring.
2016-10-14 01:15:38 · answer #5 · answered by olmeda 4 · 0⤊ 0⤋
they are just threatening you! they could garnish your wages so take care of it! call a consumer credit or free credit counselor! collectors sell these past due amounts and if they collect they get paid! it defaults after 10 years but your credit is Fried so try to take care of it!
this will haunt you! but no you are not going to court it would have to be a certified letter from the county you are in!
2007-10-25 12:03:07 · answer #6 · answered by Anonymous · 0⤊ 1⤋
First....get debt validation from that company then make SURE that company ownes that debt..I don't know what your states SOL is you might want to check it...
Make sure you send everything in writing and get return receipt requested
2007-10-25 12:40:41 · answer #7 · answered by Crazy cat lady >^ ^< 4 · 1⤊ 0⤋
It's a collection notice and it is ruining your credit. Contact them to arrange payment before it does more damage.
2007-10-25 12:00:09 · answer #8 · answered by suspendedagain300 6 · 0⤊ 0⤋
try to contact the company first (exxon or mastercard) and then try the number on the letter
2007-10-25 12:00:47 · answer #9 · answered by Anonymous · 0⤊ 1⤋
Contact them and ask for the specific details.
2007-10-25 12:01:12 · answer #10 · answered by My Evil Twin 7 · 0⤊ 1⤋