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Xan1031

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Closed Collections reopened a year later?
Over the past year I've finally been on track with repairing my credit. I have a couple of cards that I continue to pay on time and while I still have a way to go, I'm enjoying watching my score make it's way back up. Last year I only had one account in collections and it closed before I could contact the company to make arrangements to pay it off. Then the other day I received an offer to pay off an old collections debt that had been removed from my credit report in September of 2015. The agency in charge is Midland Funding LLC, and it's not showed up on my credit report yet. I tried googling the legality of this but only found pages that discussed how far the company will go to collect their debt which makes this sound like a scary situation. I don't mind making arrangements to pay it off, but I don't want to be scammed either. Any advice would be appreciated.

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Would the debt even be able to be placed back on your reports due to the 7 year reporting law? How old is the debt? Has the "statute of limitations" expired on the debt or can you still be sued for it? Look the "sol" up in your state for this kind of debt. It would not be wise to enter payment plans as that can reset the time you can be sued for the debt. I think this company gets in trouble a lot if I recall correctly, so do some reading on the FDCPA (fair debt collection practices act). Be careful, don't contact them, you need to do a lot of reading first.

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The SOL for CC debt  in my state is 4 years.  So it is definitely passed that from the original account, about 7 years I believe.  Not sure how long Midland Funding has had the account, but long enough that it was removed from my credit report in 2015.  

I've also seen that this company had a lot of complaints about them, which is why I came here and did not contact them first.  I had seen an article not too long ago about what to do when collection agencies try to collect on a debt that's passed the SOL, but cannot seem to find it.  

I'm going to do more research on it, but will definitely not be making arrangements with them any time soon.  

Thank you for your help.  

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