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Debt collection offer letter from MCM



T Ars

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Sub: Debt collection offer letter from MCM
Tue, 04/09/2012 20:20

Hi,

I received a letter from mcm that they purchased my debt from citibank and trying to collect it from me. But the letter said that they are offering a 40% discount of the original debt amount and ask me to pay the rest.

I talked to citibank and confirmed that citibank actually sold the account to mcm.

I checked my experian credit report and its not yet listed.

The original amount listed by mcm is little higher but I understand that they might have added some fee etc.

Now, I had tough time and recovering now. I am the owner of the debt and I would like to pay off.

I dont have that much money now. Its about 8k.

How can negotiate with them to lower the amount?

Please advise.

Thanks,
T Ars



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waffles
waffles


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Sub: #1 You did that without even knowing the account was yours?Tue, 09/04/2012 - 20:20



You did that without even knowing the account was yours?

Is my payday lender illegal in my state?

How to deal with illegal lenders, courtesy of OhioGal

How to write a proper debt validation request, courtesy of SOAPLADY

How to deal with a Collection agency contacting you for PDLs


T Ars
T Ars
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Credits: 945.55 Send message to T Ars

Sub: #2 Hello Everyone, I couldn't stand the stress and after a long neTue, 09/04/2012 - 20:13



Hello Everyone,

I couldn't stand the stress and after a long negotiation I settled this account for 40%.

I received a confirmation letter that there is no balance owed. I will have to wait to see the report changed.

Thanks everyone,
Ars


Unregistered

Sub: #3 Mcm? Sue themSat, 07/21/2012 - 13:27



The best way to deal with mcm is to take them to court and prove the debt is a legal debt, make sure and do the cease and decist, and the debt is out of statue of limitations. Just sue them in your local court for 1000.00 per offense, that could be into the thousands of dollars. Once you recieve your judgement, send a lien order to all the banks in san diego. You will be paid fast.


T Ars
T Ars
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Sub: #4 Thank you, I will try that number.Fri, 05/11/2012 - 11:31



Thank you, I will try that number.


SOAPLADY
SOAPLADY


Debt Samaritan
Posts: 17121
Credits: 385602.94832917 Send message to SOAPLADY

Sub: #5 Quote:I have been telling them to send me a paper bill in the maWed, 05/09/2012 - 11:19



Quote:
I have been telling them to send me a paper bill in the mail and i will pay what i can every month as long as i get something in the mail.


Ain't gonna happen. CA's are not billing or servicing agencies....it is up to you to send your payment every month.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com...imitation.html


Unregistered

Sub: #6 other MCM contact infoWed, 05/09/2012 - 11:14



I have been going through a similar situation with MCM for a few years now. They call and want me to pay in full or monthly installments that will pay off a $3000 debt in 6 months or 12 months. I have been telling them to send me a paper bill in the mail and i will pay what i can every month as long as i get something in the mail. Well today i got another call and the woman was suprisingly polite. I told her what i have told everyone else that has called and her responce was "great"
Here is the contact information to the AMERICAN female i spoke with this morning: Lisa Odoms 1-800-265-8825 ext 23196
it is worth a shot to try her out.. at least you will be able to understand what she is saying!


T Ars
T Ars
Posts: 5
Credits: 945.55 Send message to T Ars

Sub: #7 Hi, I called up this MCM, people are answering from India. At leMon, 05/07/2012 - 06:01



Hi, I called up this MCM, people are answering from India. At least this guy was not rude. He was firm on the amount and said he can give 2 months to pay off. He said he cannot provide any further offer.

I tried to negotiate for a settlement and he refused to accept my offer.

He said he will be adding 6% interest on the principal amount every month.

Can they charge interest?

Any help in settling this account would be greatly appreciated.

Ars


weneeke
weneeke
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Sub: #8 Check MCMTue, 04/03/2012 - 19:22



I'd check out who this MCM company is.
MCM IS MIDLAND CREDIT MANAGEMENT...THEY HUGE....IF YOU KNEW ANYTHING ABOUT COLLECTIONS YOU WOULD KNOW WHO THEY ARE.
In our state to collect you have to have a permit.
IT IS CALLED A LICENSE, NOT A PERMIT. AND YES, THEY ARE LICENSED
Some people download those templates and they look just as professional.
THE LETTERS ARE REAL
Secondly I'd check with Citibank again and have them to validate that the account even existed.
THE ORIGINAL POSTER STATES "MY CITIBANK ACCOUNT...
Have them mail or fax something to you.\
WHO??CITIBANK?? THEY SOLD THE ACCOUNT...THEY AINT GOING TO FAX OR MAIL ANYTHING
Then check ftc.gov. They have some kind of "red flag rule" that credit card companies, banks etc (?) have to abide by to make sure cards and accounts get to the right individuals. I guess its a way to reduce fraud and theft.
ARE YOU JUST MAKING THIS UP????


T Ars
T Ars
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Credits: 945.55 Send message to T Ars

Sub: #9 Thanks all, The letter clearly says that mcm "purchased" the deWed, 03/14/2012 - 07:23



Thanks all,

The letter clearly says that mcm "purchased" the debt from citibank.

T Ars


SOAPLADY
SOAPLADY


Debt Samaritan
Posts: 17121
Credits: 385602.94832917 Send message to SOAPLADY

Sub: #10 Was the debt "sold" or "assigned"?? A lot of people mix these tWed, 03/14/2012 - 05:45



Was the debt "sold" or "assigned"?? A lot of people mix these terms up. They mean very different things.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com...imitation.html


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