Why does Midland Credit Management appear on my credit report?
If Midland Credit Management appears on your credit report, then one of your accounts has been sold to Midland Credit Management. When a creditor sells an account to Midland Credit Management, then all legal rights associated with that account are also transferred. Even though your original account may have been closed, your obligation is still valid and due to Midland Credit Management.
Learn more about why Midland Credit Management appears on your credit report and how to find more information about your account.
What are Midland Credit Management’s credit reporting practices?
Midland Credit Management (MCM) does report to the credit reporting agencies, but we do not report during the first six months following the initial notification sent to you. If you begin repaying during those first six months and continue to make all payments as agreed until the account is resolved, we will never report your account to the credit reporting agencies.
Once Midland Credit Management begins credit reporting, we continue to report your account to the credit bureaus as allowed by law. If you pay off your account, we will request that the credit bureaus remove the account. This request for deletion applies to accounts that are paid in full or settled for less than the full balance. It may take up to 45 days for you to see a change on your credit report.
Midland Credit Management is required to delete its reporting tradeline seven years after the date of delinquency, regardless of paid status. This time frame is shorter in certain states.
What do I do if I want this account deleted or not reported?
If you have only recently been notified that your account has been purchased by Midland Credit Management and credit reporting has not yet started, then you have a few options. After sending the initial notice about the acquisition of your account, Midland Credit Management will not report your account to the credit bureaus for the first six months of servicing. If during those six months you make a payment and continue making payments on your account until it is resolved, we will never report to the credit reporting agencies.
If Midland Credit Management has already started reporting your account to the credit bureaus, we will request your account be deleted when the account is resolved.
We’re required to delete our credit reporting tradeline seven years after the original delinquency date, regardless of the paid status. This time frame is shorter in certain states. If you have further questions on the credit reporting status of your account, contact us at (800) 296-2657.
How do I remove Midland Credit Management from my credit report?
Per Midland Credit Management, Inc. policy, if an account is paid in full or settled in full after we begin credit reporting, we will request a deletion of our tradeline after the payment resolving the account is processed. We cannot control the timing within which the credit reporting agencies process our request, but it typically takes up to 45 days after payment for the tradeline deletion request to be processed.
Please refer to “What are Midland Credit Management’s credit reporting practices?”
If you are not sure what your credit reporting status is, please call us at (800) 296-2657.
I have more than one Midland Credit Management (MCM) account, why do they appear differently on my credit report?
Midland Credit Management reports to credit reporting agencies in accordance with our consumer-first policies and all applicable laws. We do not control how credit reporting agencies display the information we provide them. In addition, if you pull your credit report from a compilation source rather than directly from the bureaus, it may look different. You can contact the credit reporting agencies directly if you have questions about your credit report.
Why does my Midland Credit Management (MCM) account say it’s disputed on my credit report?
When consumers notify us that their account shows inaccurate information, we’re required to notify credit reporting agencies that the account is in a “disputed” status. You can log in to our secure portal for more information about your account.
There are many factors that may affect your credit report. Contact the credit bureaus directly for more information. If you have questions about your account, please use our live chat feature. You can also call Consumer Support Services (“CSS”) at (800) 825-8131, Ext 32980. CSS hours of operation are Monday through Friday 8am – 7:30pm ET.
If I pay off my Midland Credit Management (MCM) account, what will happen to my credit report?
In general, paying off an account is seen as a positive action. As no two consumers are the same, the impact of repayment on your credit report varies widely. How Midland Credit Management credit reports a paid off account depends on when you pay off your account.
After sending our initial notice to you, it is our policy not to report your account to the credit bureaus for six months. If you pay off your account during this time, then we will never report your account to the credit bureaus. We also will not report your account to the credit bureaus if you begin a payment plan during that first six months and continue to make monthly payments.
If Midland Credit Management has already begun reporting your account to the credit bureaus and you haven’t made a payment, then we will report your account until we are required to delete your tradeline (seven years after the date of delinquency, less than seven years in a few states). It is Midland Credit Management’s policy to request the credit bureaus delete the Midland Credit Management tradeline if you satisfy the balance on your account. Please refer to “What are Midland Credit Management’s credit reporting practices?”