If the case is not dismissed, it can often be settled in court for a lesser amount. Midland Funding is not the original creditor, so your debt is not their loss. Their goal is to recoup as much as possible, and often a settlement is the best way to make money in their case.
To beat them, all you need to do is “show up.” Specifically, many debt collectors (Midland Funding LLC included) that file lawsuits against consumers are not actually prepared to prove their debt collection case in court.
Over the past couple of years, Midland Credit Management and Midland Funding have both decreased their collection activity and gone straight to a lawsuit, preferring to use the courts to do their collection work for them.
A judgment allows Midland Funding to seize money from your bank account, put a lien on your property, garnish your wages, and more. The judgment will follow you and Midland will use it until it collects everything ordered against you.
While your wages cannot be garnished in Texas, a creditor can place a levy on your bank account. Once your paycheck is placed into your bank account, it is no longer considered wages and can be seized. This means that creditors can still take money from your checking or savings account, or other financial institution.
Midland Credit Management is a legitimate company. They are not a fake company, or a scam. But, they may spam call and harass you. One of the best ways to combat this is to dispute and remove unvalidated debts.
In the letter or phone call Midland may offer you the opportunity to settle or set up payments on your account in order to prevent the credit reporting of the collection account from occurring at all.
0:313:18#1 Mistake When Responding to a Midland Funding Debt Collection ...YouTubeStart of suggested clipEnd of suggested clipNow that's the right thing to do a lot of people don't respond to it in fact 95% of people who getMoreNow that's the right thing to do a lot of people don't respond to it in fact 95% of people who get sued by Midland Funding do not file a response. And they end up with the default judgment. So if you'
Contact Chicago Consumer Law Center, P.C. Our law firm has a track record of protecting consumer rights and explaining your options to you when a company like Midland Funding or Midland Credit Management (MCM) takes you to court and before they get a default judgment against you.
Ignoring or avoiding the debt collector may cause the debt collector to use other methods to try to collect the debt, including a lawsuit against you. If you are unable to come to an agreement with a debt collector, you may want to contact an attorney who can provide you with legal advice about your situation.
Midland Credit Management (MCM) is a company that helps consumers resolve past-due financial obligations. MCM has serviced millions of collection accounts over the years with the goal of helping consumers achieve financial freedom.
0:258:21Pre-Legal Notice [Midland Funding/Midland Credit ... - YouTubeYouTubeStart of suggested clipEnd of suggested clipAnd then they move on to do things like filing lawsuits in small claims court or for larger amountsMoreAnd then they move on to do things like filing lawsuits in small claims court or for larger amounts regular lawsuits in regular court. And what we are seeing right now because of the court.