Important Considerations
Amy was receiving calls from an unfamiliar caller and realized it was Midland Credit Management. Here’s what she discovered and how she received assistance.
- Midland Credit Management (MCM) is a legitimate debt collection company that often contacts consumers about old debts.
- While MCM may settle debts or offer payment plans, the process is confusing for many.
- MCM will not advocate for you in the debt collection process like a debt relief company would.
- Amy decided to use a debt management service to understand her options before working with MCM.
Amy’s Story: The First Call From Midland
Amy is in her late 20s, and has about $9,500 in old credit card debt. After ignoring the debt for a couple of years, she started getting daily calls from an unknown number. When she finally answered, she learned that the calls were coming from Midland Credit Management. MCM claimed Amy owed a debt on a card she hadn’t used since 2021, which caught her off guard.
Amy felt overwhelmed and unsure if this was even legitimate. She turned to Reddit for debt relief advice and found out MCM is a legitimate company, but that didn’t make the process easier. Amy quickly turned to forums for guidance and learned to always ask for debt validation and never pay until you confirm that a debt is yours, and that was Amy’s first step.
What is Midland Credit Management?
Midland Credit Management (MCM) is a debt collection agency that purchases and services outstanding debts, typically credit cards or personal loans, from lenders. Their job is to collect on those debts, either in full, through settlement, or with a payment plan. According to the Better Business Bureau, MCM holds an A+ rating and is accredited.
Why Is Midland Credit Management Calling Me?
If MCM is calling you, they’ve likely purchased or been assigned your unpaid debt. This could be a credit card, a personal loan, or another type of unsecured debt. Sometimes, people hear from MCM years after they have defaulted, which can be confusing. Amy didn’t even remember the card they were calling her about. However, after requesting documentation, she saw her name, account number, and payment history.
It’s legal for MCM to collect on legitimate debt, but they must follow rules under the Fair Debt Collection Practices Act (FDCPA). Forum users who have gone through the process recommend keeping records of every interaction and not agreeing to payments without written confirmation.
Pros and Cons of Working with Midland Credit Management
Positive Aspects
- Legitimate and BBB-accredited collection agency
- Offers settlements and payment plans
- Can potentially update credit reports after resolution
- Will provide documentation upon request
Negative Aspects
- High-pressure contact can feel intimidating
- Settling may still impact your credit score
- Confusing paperwork or unverifiable claims in some cases
- Payment can reactivate debt if the statute of limitations has expired
How Does Midland Credit Management Work?
MCM contacts consumers via phone, mail, or email to collect on past-due accounts. Once contact is made, they may offer a settlement, a monthly plan, or payment in full. They often report accounts to credit bureaus, but may agree to update the report if you pay or settle. For example, you may receive a written offer to settle the debt for 40% of the original balance. It’s important to get these terms in writing before you agree to make any payments.
Compare Debt Relief Options
Amy’s Turning Point: Using a Debt Management Service
After reading dozens of posts on r/debtfree, Amy realized she wasn’t equipped to handle MCM alone. She contacted a nonprofit debt counseling agency that helped her validate the debt, ensure it wasn’t past the statute of limitations, and negotiate a fair settlement. This step gave her peace of mind, especially after hearing horror stories from Reddit users who accidentally restarted old debts by making small payments.
Her counselor helped her respond in writing, confirm the offer, and structure payments she could afford.
Is Midland Credit Management Legit?
Yes. MCM is a legitimate collections agency with an A+ BBB rating. However, legitimacy doesn’t mean you should act without caution. Always verify debt before paying, and consider getting professional help to ensure your rights are protected and that you’re not overpaying on a stale or invalid account.
In Conclusion: Why Amy Turned to a Debt Pro
Amy’s biggest takeaway was realizing she didn’t have to face this alone. Working with a counselor helped provide clarity and understand the options before making a decision. With a settlement plan in place and no surprise calls anymore, Amy’s finally sleeping better. She’s not debt-free yet, but she’s finally moving forward.
If you’re looking for other options for debt relief, our picks for the top debt relief companies include Achieve, Accredited Debt Relief, and National Debt Relief.
Frequently Asked Questions
Find answers to common questions about Midland Credit Management.
It’s a debt collection company that buys and collects on unpaid debts from banks and lenders.
They likely purchased an old debt tied to your name. Request documentation before making any payment.
Yes. They’re accredited by the BBB and legally operate as a debt collector.
Yes, though lawsuits are not always pursued. If the debt falls within the statute of limitations, legal action may be possible.
If you’re unsure, it’s a good idea to speak with a credit counselor first. They can help validate the debt and negotiate on your behalf.
