I received a letter saying I supposedly "owe" $808.58 on a credit card bill
they gave me several options to settle
one of them was to settle for 40 percent
but they buy these debts for pennies on the dollar
should I make a deal with them ?
also will they end up suing for the $808.58 if I don't respond to them
I am in fla
All across Florida, debt buyers have overwhelmed consumers. Companies such as Midland Funding, LLC are filing hundreds of lawsuits each day. This has resulted in homelessness, needless bankruptcies, job loss, martial stress, divorce, depression, hopelessness, and wrongful garnishment. Someone can get sued twice on the same debt, get sued on an account that doesn’t belong to you, get sued after the statute of limitations has run, or get sued on a debt discharged in bankruptcy. In other cases, collection agencies do not accurately reflect payments that have been made to their accounts and sue people for the wrong amount. They are filing these lawsuits mostly bases upon the idea that the consumer will not show up or contest the lawsuit.
If you have suffered a loss of income or for some reason you are not able to pay your debts at this time, you can consult with an attorney regarding the options that are available to you. Millions of hard working people suffer debt problems through no real fault of their own. An attorney can advise you as to how you might respond this lawsuit from Midland Funding, LLC.
If you have been sued by a debt buyer such as Midland Funding, LLC you need a strong Debt Collection Defense by an attorney who knows the law and court system in Florida.
I have to agree with the answer from Mr Connelly. Across the nation it is the same thing. The debts are purchased for 1-2 cents on the dollar and then the debt is sued for the entire amount with interest and attorney fees. Maybe the person that "bought" the debt purchased it maybe they were just an employee that stole the information on a thumb drive. You just don't know and neither does the judge that gave them a judgment. If you can settle the debt and they actually own the debt then maybe settlement is an option. Often all they do is damage your credit by filing a late payment notice and paying them after they have damaged your credit does no benefit for you. My common advise is to never pay them unless they sue and when they do sue find reasons to sue them back.
I agree as well. I hardly file a bankruptcy that does not include Midland Funding. It is usually good advice to NOT pay the collection agency and only deal with the original creditor. Even if you make a deal with them and they do not sue, they can still report that you did NOT pay the original amount on your credit report; which is just as bad. Heads they win, tails you lose. Speak with a good debt defense attorney as to what you can do.
